15 Things Spock Would Say About Population Health Management Market

The global population health management market is expected to reach USD 150.6 billion by 2027, registering a CAGR of 21.1% over the forecast period, according to a new report by Grand View Research, Inc. The need for population health services that combine multiple functionalities is increasing due to the complex nature of care delivery and payment models. Population health management (PHM) solutions can process clinical, financial, and operational data that help improve efficiency and patient care. The health management program is also witnessing changes in medical reimbursement due to the increasing emphasis on value-based payment (VBP) and Accountable Care Organizations (ACOs). In addition, the convenience offered by value-based payment models is responsible for the increased adoption of population health solutions by ACOs.

ACOs, consisting of hospitals, clinics, and other healthcare providers, collaborate with the payers (private and public) to provide high-quality care to the patients. Private and public insurance providers have introduced various disease management programs that help in the treatment of chronic illnesses. These multidisciplinary efforts are expected to result in efficient treatment outcomes and are likely to suggest the best suitable courses of action that need to be undertaken. Successful large-scale trials in the U.S. have enabled significant advancements in disease management programs.

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Population Health Management Market Report Highlights

• PHM software offers predictive data analytics, which can be applied for interpreting population characteristics from unstructured clinical data

• The services product segment held a majority of the market share in 2019, as healthcare providers prefer in-house maintenance services

• Healthcare providers held the largest market share of the end-use segment in 2019. The providers can focus effectively on patient-centric care and reducing overall costs

• North America was the largest regional market in 2019 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 population health management market is expected to witness the fastest growth in the coming years due to rising healthcare expenditure and improving healthcare infrastructure in the region

• Allscripts, McKesson Corporation, and Cerner Corporation are some of the key PHM market players. Acquisitions and business partnerships with other market players are some of the strategic initiatives undertaken by these companies to strengthen their market presence