Population Health Management Solution Market Set for Rapid Growth And Trend by 2026

 

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Coherent Market Insights added Latest Research Report titled "Population Health Management Solution Market, by Component (Software and Services), by Medium (Web Based Medium, and Cloud Based Medium), by End User (Hospitals, Ambulatory Care Provider, Insurance Provider, and Others), and by Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026" to its Large Report database.

Population health management solution aggregates all the data from different healthcare platform (Diagnostics, Pharmacy, and Billing Department in healthcare facility) related to the patient. The data is analyzed and presented in comprehensive actionable form to healthcare providers for efficient clinical outcome and save overall healthcare cost. Population healthcare management tracks individuals amongst vast group of patients by applying business intelligence tools to different set of data and create single document, which is easy to analyze and clinical decision can be taken over same by each member across the healthcare ecosystem.

Population healthcare management provides various advantages. It improves quality of healthcare due to comprehensive picture provided by collection of multiple data points on one platform with better tracking of patient. Pharmaceutical healthcare management solutions saves unnecessary healthcare cost. Also, it allows better clinical management in case of chronic disease using information technology based approaches. Healthcare management allows the healthcare provider to fill the healthcare gap i.e. lack of coordinated effort amongst stakeholder in health care, lack of effective patient monitoring etc.

This is gap can be filled by promoting real time data access and monitoring. This can be done by monitoring diagnostic data, prescription data, billing data and other health care data, which can be assessed and addressed in case of care gap. For healthcare insurer, population healthcare management allows the value-based reimbursement rather than simple payment transfer and helps in business decision making process. Overall PHM promotes better health for population and reduces hospital admissions.

Market Dynamics

Population healthcare management market is projected to witness upward growth during the forecast period due to increasing prevalence of chronic disease worldwide. Chronic disease such as cancer, cardiovascular disease, diabetes, asthma (chronic lung disease) account for the major healthcare burden annually. According to World Health Organization data in 2017, around 40 million people die each year due to chronic disease, which accounts for 70% of all deaths globally. Cardiovascular diseases is responsible for 17.7 million death annually, followed by cancers (8.8 million deaths), respiratory diseases (3.9million deaths), and diabetes (1.6 million deaths).

Population healthcare management solutions provides better clinical management of this disease. Increasing number of geriatric population worldwide is expected to further propel growth of population healthcare management solutions.

Competitive Landscape

Some of the key players operating in the population health management solution market include Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, OptumHealth, Epic Corporation, Inc., Philips Wellcentive, eClinicalWorks, Health Catalyst, LLC, IBM Corporation, i2i Population Health, Verscend Technologies, Inc., Caradigm, and Care Evolution.

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Market Taxonomy

On the basis of component, the global population health management solution market is segmented into:

Software
Services
On the basis of medium, the global population health management solution market is segmented into:

Web based medium
Cloud based medium
On the basis of end user, the global population health management solution market is segmented into:

Hospitals
Insurance provider
Ambulatory care provider
Others
Regional Insights

Reducing number of uninsured people would also benefit the market. According to U.S. Census Bureau data, in 2016, an estimated 8.8 percent or 28.1 million people were without health insurance coverage, which is lower than 2015, in which 9.1 percent or 29.0 million people were uninsured. Europe is projected to be second lucrative market due to high number of old age population. According to Europa Statistics in 2017, around 19% of current Europe population is more than 60 in age, which would rise to 25% in near future.

Asia Pacific region provides potential opportunity for growth of the population health management solution market, owing to highest number of deaths caused due to chronic disease. More than 12 million and around 80% worldwide chronic disease death are reported from this region according to World Health Organization (WHO) factsheet in 2017. Healthcare infrastructure in this region is slowly improving, which would also promote use of population health management solution.

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