Dallas, TX, May 26, 2016 --(PR.com
)-- The global population health management market is expected to reach USD 41.6 billion in 2022, from USD 12.1 billion in 2015, growing at a CAGR of 19.6% in the forecast period 2016 to 2022.
Population health management solutions help providers to share population health information, gain perspective, insights and act proactively to solve it. PHM solutions are used track the cost of healthcare in a year, in a particular organization. This is not a new idea but use of analytics in healthcare cost estimation is used since a long time. Though the usage of a PHM solution is today’s world can be attributed to few drivers such as access, cost, quality, lifestyle management, demand management, disease management and, care condition among others. PHM is a must technology in the threatening economy, as process needs to change from providing healthcare to preventive healthcare. Estimating the major users of healthcare, chronic disease prevalence and identifying trends and proactively preventing healthcare threats will be the new goal of healthcare organization.
Though HER and HIE initiatives have automated, systemized and integrated healthcare providers, still majority of the healthcare providers are still operating in a non-integrated singular platforms. Healthcare It solutions that integrate and systemize the economies and scales of process for healthcare providers will be required the rip maximum gains. The larger the population, the more necessary it will be for organizations to apply more powerful and effective analytics as a strategy for success. The analytics techniques such as healthcare BI, big data, other analysis software used in EHR is basically pointing towards PHM. However, the opportunity of growth lies with the fact that today’s most EHR are not PHM.
According to the KLAS categorization the PHM can be separated into 4 zones of workflow, such as data collection, risk stratification, care coordination and patient outreach. The emerging technological solutions such as big data are implemented significantly in healthcare solutions. With the increasing amount of datasets, owing to the booming market HCIT products and development of the regulatory body’s acceptance of PHM will definitely increase. With rising number of vendors in this market the integration of PHM and EHR is looking rather obvious.
The global PHM market is segmented based on solution types into software and services. The PHM software market is expected to dominate the market and is also expected to grow at the highest CAGR 33.7% in the forecast period. The growth is attributed to the increasing acceptance of PHM solution after the affordable care act was implemented. Also the software market dominates owing to the high renewal cost of these software especially cloud based.
The PHM services market is further classified into sub-segments namely consulting, implementation, training and, post sales maintenance. Based on end users the PHM market is segmented into healthcare providers, payers, private employers and government organizations. Healthcare providers are expected to dominate the market and grow at the highest rate owing to the paradigm shift towards value based reimbursements which demand analysis of large sets of clinical data.
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. U.S. is expected to dominate the market due to rising prevalence of chronic diseases, large healthcare expenditure, and paradigm shift towards value based reimbursements.
The PHM market is a new need and with multiple vendors coming into the market there is no specific market leader every year. The market is concentrated on technological advancements, product launches, higher level of integration, pricing strtaegies and other market penetration models. Some of the major players in the PHM market include McKesson Corporation, ZeOmega Inc., Verisk Health Inc., Forward Health Group, Health Catalyst LLC, Athenahealth, Inc., Cerner Corporation, Medecision, Xerox Corporation, Allscripts, Inc., Fonemed Haiti SA, WellCentive, Inc., i2i Population Health, Conifer Health Solutions, LLC, GE Healthcare, Health Business Intelligence Corp, IBM Corporation, QSI Management, LLC, i2i Systems, Inc., OptumHealth, Inc., and Healthagen, LLC among others.
Report URL: http://databridgemarketresearch.com/reports/global-population-health-management-phm-market-trends-and-forecast-to-2022/