Population Health Management (PHM) Market 2030 | The industry is growing due to the increasing incidence of chronic diseases
Population Health Management (PHM) Market was valued at USD 24.82 Billion in 2021 and is projected to reach USD 74.61 Billion by 2030, growing at a CAGR of 13.0%.
NEW YORK CITY, NEW YORK, USA, June 30, 2022 /EINPresswire.com/ — According to the current analysis of reports and data, the Population Health Management (PHM) Market was valued at USD 24.82 billion in 2021 and is projected to reach USD 74.61 billion by 2030, at a CAGR of 13.0%. The growing acceptance of IT healthcare solutions for population health, an increase in the incidence of chronic diseases such as diabetes, obesity, hypertension, cardiovascular and other diseases and the benefits of tools PHM such as remote health management, data integration and data storage are driving the population health management market.
Population health management software combines clinical, financial, and operational data from across the organization and provides providers with actionable analytics to help them improve efficiency and improve patient care. On April 29, 2019, Hendrick Health System, a nonprofit healthcare provider in Abilene, Texas, expanded its relationship with Allscripts to create a single, integrated clinical and financial patient record, which includes the Sunrise suite of solutions , including Sunrise Financial Manager, Sunrise Ambulatory Care, Sunrise Abstracting, Sunrise Health Information Manager, Knowledge-Based Charting, consumer/patient engagement platform FollowMyHealth, Allscripts Identity Manager and Allscripts Patient Flow with Census Logic. The combined technology and single platform will help deliver patient information to healthcare system physicians across the ambulatory care continuum.
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Other key findings from the report suggest:
• The medical industry is rapidly moving from a paper-based system to a digital system, which is accelerating the demand for healthcare IT services. Additionally, the growing demand for solutions supporting value-based care delivery by stakeholders has driven the shift from fee-for-service (FFS) models to value-based payment (VBP) models.
• In August 2020, Allscripts, a global healthcare technology leader, announced that it had achieved full accreditation with the Healthcare Network Accreditation Program (HNAP) for Allscripts PayerpathTM as well as ePAP accreditation for ePrescribe from the Electronic Healthcare Network Accreditation Commission (EHNAC). EHNAC’s HNAP accreditation recognizes excellence in healthcare data processing and transactions and ensures compliance with industry-established standards and HIPAA regulations
• In January 2017, Conifer Health Solutions announced that Alameda Health System (AHS) had engaged the company to provide value-based care services to support HealthPAC, a comprehensive health access program for eligible enrollees of Alameda County, California. Conifer Health will provide population health management and nursing consultation services to help the four-hospital system better serve a population of 33,000 HealthPAC members
• Population Health Management (PHM) market is fastest growing with a CAGR of 6% in Asia-Pacific due to rising prevalence of chronic disorders, increased expenditure, surge in healthcare infrastructure and small government initiatives to make it more digitized
• Service segment holds the largest share, valued at USD 16,390.3 million in 2020, as hospitals and other healthcare providers prefer an in-house system instead of involving third parties to assess their patient data
• The payers segment is growing at a robust CAGR of 26.3% in 2020 and is expected to continue similarly during the forecast period. Payers are third-party entities, for example, insurance companies, that finance or reimburse the cost of healthcare services and the growing demand for PHM software for payers is expected to propel the growth of this segment.
• Europe is the second largest region with a share of 25.2% due to the high acceptance rate of population health management platforms in countries such as Germany, the United Kingdom United due to high public awareness of the benefits of PHM, immense public-private investment towards chronic disease management, developed healthcare infrastructure and high disease incidence
• Web-based segment held the largest market share in terms of revenue i.e. USD 10653.7 million in 2020, followed by cloud-based segment i.e. 6392 $.2 million attributed to minimum software and hardware requirements for the use of web-based PHM solutions and the growing adoption of web services by healthcare providers
• North America regional segment dominated this market with 50% share through immense strategic initiatives, mergers and acquisitions, government funding to focus on improving national health following with population health precision
Anecova, Allscripts Healthcare, LLC, Cerner Corporation, Conifer Health Solutions, LLC., Health Catalyst, i2i Systems, IBM, Koninklijke Philips NV, McKesson Corporation and Optum, Inc.
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Market segmentation :
For the purpose of the study, these reports and data have segmented the global Population Health Management (PHM) market on the basis of product type, delivery mode, application, end user and regional perspectives:
Regional Outlook (Revenue, USD Billion; 2019-2030)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Product Type Outlook (Revenue, USD Billion; 2019-2030)
o After-sales services and maintenance
o Training and education services
o Implementation Services
Delivery Mode Outlook (Revenue, USD Billion; 2019-2030)
• On the site
Application Outlook (Revenue, USD Billion; 2019-2030)
• Patient-centered medical center (PCMH)
• Complete longitudinal patient file
• Effectively coordinate care
• Patient awareness
End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Employer groups
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Key points covered in the report:
• Detailed analysis of the global Population Health Management (PHM) market through an assessment of key market aspects such as technology, product type, application, end-use, and overall dynamics Of the industry.
• Qualitative and quantitative analysis of the market estimate and CAGR calculation for the forecast period.
• Overall assessment of market dynamics with emphasis on drivers, restraints, opportunities and limitations.
• Detailed profiling of key companies operating in the market including company overview, financial status, product offerings, product portfolio, recent products and technological advancements and business expansion plans.
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