The patient access solutions market is segmented on the basis of end user into healthcare providers, HCIT outsourcing companies and others. Patient access solutions include software and services programs that help healthcare facilities to smack a balance between lessening of operational costs and minimization of claims rejection.
What is the forecast period of the global patient engagement solutions market?
The global patient engagement solutions market size was estimated at USD 15.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2021 to 2028. The market is majorly driven by the increasing utilization of electronic health records for patient-centric care and the adoption of mobile health devices.
Which segment is expected to dominate the patient engagement solutions market?
The providers segment dominated the market for patient engagement solutions and held the largest revenue share of 56.3% in 2020. It is anticipated to register lucrative growth during the forecast period.
Who are the prominent players in the patient engagement solutions market?
Some of the prominent players in the patient engagement solutions market include: Orion Health Ltd. Phytel Inc. Medecision Inc. GetWellNetwork Inc. YourCareUniverse Inc. Lincor Solutions Ltd. Athenahealth, Inc. Revenue forecast, company ranking, competitive landscape, growth factors, and trends
How many hospitals offer online access to medical records?
In May 2019, as per the National Coordinator for Health Information Technology, U.S., hospitals 51.0% of patients were offered online access to their medical records.
Market Overview
The patient access solutions involves denials management, payment estimation and Improve patient collections. Denial management has an important role to play in hospital revenue generation.
Scope of the Report
As per the scope of the report, the term 'patient access solutions' refers to the solutions that involve efficient claim management and minimizing claim rejection for various hospitals and medical facilities.
Key Market Trends
Based on Software, the market is segmented into Claims Denial & Appeal Management Solutions, Payment Estimation Solutions, and Others. Claim denial and appeal management involves the review of the denial procedure and determining if the denial can be appealed against.
Competitive Landscape
The global players into the patient access solutions market are AccuReg Software, Cerner Corporation, Cirius Group Inc., Cognizant, Conifer Health Solutions, LLC, Epic Systems Corporation, Experian PLC, McKesson Corporation, Optum Inc. and ZirMed Inc.
KEY MARKET INSIGHTS
Patient access states the power of patients and their families to take charge of their own health care. The patient access solutions includes denials management, payment estimation . Denial management has significant role to play in hospital revenue generation.
Market Segmentation
Globally, the patient access solutions market can be segmented into software and service type, delivery mode, end-user and region.
Key Players Covered
Some of the major companies that are present in the Patient Access Solutions market are Cognizant (US), McKesson Corporation (US), Cerner Corporation (US), Experian (Ireland), 3M (US) Craneware (US), Allscripts (US) SSI Group (US), Optum (US), Cirius Group (US) and others prominent players
Regional Analysis
Based on segmentation of region, the patient access solutions market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the market in 2021 and is estimated to retain its leading position over the forecast duration.
Patient Access Solutions Market Industry Developments
In 2019 - RxCrossroads by McKesson launched AMP: Access for More Patients, a patient support solution.
What is patient access solution?
Patient access solutions make use of various components like services, hardware, and software to offer various IT solutions for the healthcare sector. Clinics, hospitals, doctors and other healthcare professionals make extensive use of these solutions. The global patient access solutions market is likely to gather momentum from the presence of regulatory compliances and government directives that support the growth of the global patient access solutions market in years to come.
What is patient access?
Patient access solutions comprise services and software programs that assist healthcare facilities to strike a balance between minimization of claims rejection and lessening of operational costs. These solutions find abundant use in management of medical denials and necessity, facilitating smooth and efficient processing of patients’ claim processing, and verification of the eligibility of the insurance cover of a patient.
How much is the patient access market worth?
According to Verified Market Research, Global Patient Access Solutions Market was valued at USD 1.29 Billion in 2018 and is projected to reach USD 2.15 Billion by 2026, growing at a CAGR of 6.6% from 2019 to 2026.
What are the players in the global patient access market?
The “Global Patient Access Solutions Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as – Cognizant, Conifer Health, Mckesson, Zirmed, Quadax, Experian. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
What is the market outlook?
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Global Patient Access Solutions Market Segment Analysis
Global Patient Access Solutions Market is segmented by product & services, delivery mode, end user, and geography. Web-based Solutions is expected to register the highest growth in the forecast period.
Global Patient Access Solutions Market Regional Analysis
Increasing patient volume and subsequent growth in the demand for health insurance are trending the overall Global Patient Access solutions market. Issues related to the risk of confidentiality may hamper market growth. APAC is going to emerge as one of the higher growth regions in the forecast period followed by North America and Europe.
Global Patient Access Solutions Market Research Methodology
Bloomberg, Hoovers, and Factiva are some of the sites that are being referred to gain insights about Global Patient Access Solutions Market. Experts from top manufacturing companies along with other stakeholders have been considered.
The scope of the Global Patient Access Solutions Market: Inquire before buying
Research report categorizes the Global Patient Access Solutions Market based on product & services, delivery mode, end user, and geography (region wise).
Available Customization
Maximize Market Research offers customization of report and scope of the report as per the specific requirement of our client.
What is the patient engagement solution market?
The global patient engagement solutions market size was estimated at USD 15.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2021 to 2028. The market is majorly driven by the increasing utilization of electronic health records for patient-centric care and the adoption of mobile health devices. As per a survey conducted by the NHS in 2019, approximately 92.0% of the patients feel assured in self-managing treatment.
Which region is the largest patient engagement market?
North America dominated the patient engagement solutions market and accounted for the largest revenue share of over 38.0% in 2020. The dominance is due to key drivers inclusive of the adoption of mhealth and EHR, and growing investment in patient engagement software by the major companies. Moreover, increasing awareness level coupled with government spending on the healthcare sector is further expected to accelerate the growth. With the wider adoption of innovative technologies amongst the population, this region is likely to dominate the market.
What is patient engagement?
The chronic diseases segment dominated the market for patient engagement solutions and held a major revenue share of over 43.0% in 2020. Patients suffering from chronic disorders need monitoring and training about diseases. Patient engagement solutions help the patients to connect with their healthcare providers from remote locations, thereby enabling the streamlined flow of information, patient feedback, and other health-related data. For instance, in November 2019, CDC had funded 13 state arthritis management and prevention programs aimed at improving the quality of life and patient monitoring for rural arthritis patients.
What is the health management segment?
The health management segment dominated the market for patient engagement solutions and held the largest revenue share of over 41.0% in 2020. Quick response and enhanced patient compliance for care are the major driving factors for the segment. In May 2019, as per the National Coordinator for Health Information Technology, U.S., hospitals 51.0% of patients were offered online access to their medical records.
Why are on-premise services important?
The inclination for on premise services is primarily due to complete access to the information within the premises.
Which segment of healthcare holds the largest revenue share in 2020?
The providers segment dominated the market for patient engagement solutions and held the largest revenue share of 56.3% in 2020. It is anticipated to register lucrative growth during the forecast period. Providers support better patient engagement solutions owing to improved utilization of routine care processes, patient portals for accessing information and making complex healthcare decisions.
When will the NHS go paperless?
For instance, by 2020 the NHS is set to go completely paperless and offered patient access to EHR in 2018. In the Asia Pacific, the market is expected to show lucrative growth during the estimated period.
