U.S. Population Health Management (PHM) Solutions Market
USA, Rockville MD, April 25, 2022 (GLOBE NEWSWIRE) — According to a recently released Fact.MR report, the global market for population health management (PHM) solutions in the United States is expected to grow at a compound annual rate (CAGR) of 14.8% between 2021 and 2028. The market is expected to reach $34.59 billion by the end of 2028. The request American Population Health Management (PHM) Solutions is expected to increase over the forecast period and the market was valued at US$11.2 billion in 2020.
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The United States has seen a massive increase in the prevalence of chronic diseases, and the increase in the number of patients in the country has subsequently led to the demand for the deployment of population health management (PHM) systems. These PHM systems enable patient engagement and management through the integration of advanced technology and software.
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PHM systems are also effective in reducing healthcare costs and improving the overall quality of healthcare services provided, which fuels their popularity. Increase in geriatric population, implementation of Affordable Care Act (ACA), rising government support and increasing technological proliferation are expected to be other factors guiding the market potential during the period of forecast.
What is driving the demand for PHM programs in the United States?
“Implementing the Affordable Care Act (ACA) to Foster Growth of value-based care »
The Affordable Care Act (ACA) which was enacted in March 2010 aims to reduce the cost of healthcare per capita and is also responsible for the major change in healthcare infrastructure aimed at reducing the burden on patients and health care providers.
With the ACA, patients do not have to pay for unnecessary readmissions, making hospitals financially responsible for any readmissions within 30 days of patient discharge.
In order to keep track of all this crucial data and provide better healthcare, institutions should adopt PHM programs and reduce overall healthcare costs for patients. The fee-for-service trend is expected to be pushed aside as the ACA emphasizes value-based care services.
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Key segments covered by the American Population Health Management (PHM) Solutions Industry survey
- US PHM Solutions Market By Source:
- Population Health Management Software
- Population Health Management Services
- U.S. PHM Solutions Market by Mode of Operation:
- On-site PHM solutions
- Cloud-based PHM solutions
- Web-Based PHM Solutions
- US PHM Solutions Market by End User:
- Government insurance providers
- health care providers
- Private insurance providers
- Pharmaceutical companies
- Medical Device Organizations
- Others (employers, diagnostic and imaging centers and research institutes)
Leading providers of population health management solutions in the United States are focused on integrating advanced technologies to improve their offerings and increase revenue. The major players are also focusing on mergers, collaborations, and acquisitions to boost their market presence in the US industrial landscape.
- In April 2022, Medecision, a leading name in digital care management, announced the launch of a strategic partnership with Clearstep Health to pioneer increased patient engagement for existing healthcare plans and systems and new.
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The key players in the American Population Health Management (PHM) Solutions Market
- Conifer Health Solutions
- health catalyst
- Healthagen LLC
- International Business Machines (IBM) Corporation
- NextGen Healthcare Information Systems LLC
- Optum Health Inc.
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Main takeaways from American Population Health Management (PHM) Solutions Market research
- In 2020, the US population health management solutions market stood at a net worth of US$11.2 billion.
- The demand for population health management solutions in the United States is expected to grow at a phenomenal CAGR of 14.8% from 2021 to 2028.
- The PHM solutions market in the United States is expected to reach $34.59 billion by the end of 2028.
- The increase in the geriatric population, growing focus on reducing healthcare costs, increased focus on patient engagement, prevalence of chronic diseases and supportive government initiatives are factors driving the application for PHM programs in the United States.
- Web-based population health management solutions are expected to lead the market growth in the United States over the forecast period.
- The services segment is expected to account for more than 50% market share by the end of 2028.
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