The global Population Health Management Market size is expected to reach USD 101.0 billion by
2025, according to a new report by Grand View Research, Inc. It is projected to
register a CAGR of 20.7% during the forecast period. The need for population
health services that combine multiple functionalities is increasing, due to the
complex nature of care delivery and payment models. PHM solutions can process
clinical, financial, and operational data for the improvement of efficiency and
patient care. The convenience offered by value-based payment models instead of
Fee-for-Service (FFS) is responsible for increased adoption of these solutions
by the Accountable Care Organizations (ACOs).
ACOs, consist of hospitals,
clinics, doctors, and other caregivers, collaborate with payers for the
delivery of high-quality patient care. Private and public insurance providers
have introduced various disease management programs, to assist in the treatment
of chronic illnesses. These multidisciplinary efforts are expected to result in
effective treatment outcomes and are likely to suggest best suitable courses of
action that need to be undertaken. Successful large-scale trials in U.S. have
enabled significant advancements in disease management programs.
The market has a healthy mix of
vendors offering PHM along with other healthcare IT solutions. Acquisitions and
partnerships are the major strategies adopted by the companies operating in the
population health management market. For instance, in 2018 Allscripts announced
completion of acquisition of the HealthGrid Holding Company, a developer of
enterprise patient engagement solution. The acquisition signifies expansion of
the Allscripts FollowMyHealth platform that provides patient engagement
solutions focused on connecting consumers with providers.
Further key findings from the report suggest:
- Based on the products, the services segment
held majority of the market share in 2018, as healthcare providers prefer in-house
maintenance services
- In 2018, healthcare provider held the largest
market share of the end-use segment. The providers can focus effectively
on patient-centric care and reducing overall costs
- North America was the largest regional market
in 2018 and is likely to retain its position over the forecast period, as
the providers, payers, providers-payers, and accountable care
organizations promote the use of PHM services
- Asia Pacific is expected to witness the fastest
growth in the forthcoming years due to rising healthcare expenditure and
improving healthcare infrastructure
- Allscripts, McKesson Corporation, and Cerner Corporation among others are some of the key players operating in the Population Health Management (PHM) market. Business partnerships and acquisitions are some of the key strategic initiatives undertaken by these companies to strengthen their market presence.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/population-health-management-phm-market
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