The approximately US$20 Bn accountable care solutions market (as of 2022) foresees a steep growth curve in the years to come. The market gains largely from a growing urge of healthcare providers to delivery effective care.
Market Analysis in Brief
In recent years, the healthcare industry has witnessed a shift towards value-based healthcare models, which focuses on quality outcomes and cost-effectiveness. This transition is driving growth across the accountable care solutions market. Accountable care solutions empower healthcare providers to effectively measure, manage, and improve patient outcomes while mitigating costs. These solutions also aid in efficient health management by providing advanced technology to monitor and improve outcomes for patients. Recognizing these benefits, government authorities worldwide are incentivizing healthcare providers to adopt accountable care solutions.
Furthermore, the continuous advancements in healthcare technology, such as electronic health records (EHRs), interoperability, and data analytics, is also promoting the adoption of accountable care solutions. These solutions aid in care coordination, shared decision-making, and curating personalized care plans, promoting a patient-centric approach to healthcare delivery. Given this fruitful landscape, the global accountable care solutions industry is poised to witness robust expansion throughout the forecast period.
Key Report Findings
Thriving Trend of Personalized Medicine
The increased emphasis on personalized and analytics-driven medicine is anticipated to create strong growth waves across the global accountable care solutions market. Through the customization of healthcare services and treatment, healthcare practitioners are enhancing patient outcomes, improving patient satisfaction, and mitigating healthcare costs.
Accountable care solutions aid in aligning financial incentives, enhancing care coordination, and leveraging to deliver efficient and effective care. Hereby, empowering healthcare providers to deliver targeted, precise, and effective care.
Advanced Digital Technologies
The proliferation of digital and advanced technologies is projected to benefit the global accountable care solutions market. World over, government authorities are incentivizing efforts to digitalize healthcare institutions and equip hospitals with advanced technologies. Modern and sophisticated digital solutions enable efficient data collection, analysis, and sharing for the early detection of health issues and proactive interventions. Furthermore, such solutions also aid in health management, facilitating value-based care models and the implementation of evidence-based practices.
Overview of Key Segments
Healthcare Provider Solutions Stirs Revolutionary Growth Waves
By product, the global accountable care solutions are primarily segmented into healthcare payer solutions and healthcare provider solutions. In the projected timeframe, the healthcare provider solutions segment is anticipated to dominate the accountable care solutions market. This can be largely credited to the surging demand for electronic health records, healthcare analytics, effective patient care management, and patient engagement solutions. Furthermore, the increased investments in the digitalization of hospitals by the government and corporations are also fueling the segment growth.
Accountable Care Software Achieves Remarkable Momentum
The global accountable care solutions market is further categorized into software and services based on the components. However, the software component segment is predicted to emerge as a major revenue generator. Accountable care software improves coordination across healthcare institutions by streamlining workflows and communications. Furthermore, by reducing unnecessary healthcare expenses, accountable care software also significantly contributes to cost savings.
Cloud-and Web-based Technologies Capture Attention of Healthcare Providers
The global accountable care solutions market, based on delivery modes, broadly expands to web- and cloud-based, and on-premises. Cloud- and web-based technologies are expected to provide the most contribution to the market. In recent years, cloud & web-based technologies have gained significant prominence among healthcare practitioners, primarily owing to their various benefits. Cloud-based technologies are affordable, have ample data storage, and provide ease of data access and management.
The lack of internal IT skills is likely to hinder the overall growth of the global accountable care solutions market. Additionally, various macrofactors such as the need for infrastructure investment and interoperability issues, are also likely to impede the market growth. Furthermore, the implementation and integration of accountable care solutions could face technical and operational challenges such as data standardization, and compatibility issues. This factor could also act as the limiting factor for the expansion of the accountable care solutions industry.
Growth Opportunities Across Regions
North America Leads on the Back of Favorable Government Policies
North America is anticipated to retain dominance in the global accountable care solutions market over the forecast period. In the United States, the local government is pushing healthcare entities to adopt accountable care models for the enhanced coordination of all physicians across care settings. Such models are also empowering healthcare providers to improve population health in a cost-effective manner. Overall, the region’s favorable reimbursement policies and a strong emphasis on healthcare quality and patient outcomes are enabling a conducive environment for the regional market.
Leading Participants in Global Accountable Care Solutions Industry
The global accountable care solutions market has a high level of competition that is influencing key industry participants to develop innovative product offerings. Apart from this, various regulatory, quality, and pricing norms are also impacting cross-border trade.
International players in the global accountable care solutions market include IBM Corporation (United States), Cerner Corporation (United States), Aetna, Inc. (United States), UnitedHealth Group (United States), Epic Systems Corporation (United States), Allscripts Healthcare Solutions, Inc. (United States), Verisk Health (United States), McKesson Corporation (United States), EClinicalWorks, Inc. (United States), ZeOmega, Inc. (United States), and NextGen Healthcare (United States).
Regional Classification of the Global Accountable Care Solutions Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Accountable Care Solutions Market
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