NEW YORK, Dec. 18, 2020 /PRNewswire/ -- Care management solutions are web-based integrated healthcare solutions that provide quality care to patients with the use of products and services in a cost-effective manner, at reduced risk. Care management solutions are widely used by payers, government bodies, providers, and employer groups. Increasing adoption of care management, rise in government expenditure in the healthcare sector, increasing demand for quality of care, and growing aging population are driving the global care management solutions market. In addition, increasing awareness among people for better healthcare is also driving market growth.
As per PMR's report, the global care management solutions market generated a market revenue of US 12.2 Bn in 2019, and is expected to surge ahead at an astounding CAGR of 17% over the forecast period (2020-2030).
Key Takeaways from Care Management Solutions Market Study
- South Asia & Pacific is expected to create lucrative growth opportunities for players in the care management solutions market, due to rise in government spending on healthcare systems in the region.
- Implementation of initiatives to shift the burden of risk from healthcare payers to providers is creating new growth opportunities for care management solution providers.
- Key players in the market are focusing on acquisitions to complement their product portfolios to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.
- With rapidly rising demand being witnessed from healthcare providers due to the COVID-19 outbreak, the global care management solutions market will greatly benefit in the long run.
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"Key players in the care management solutions market are focusing more on continuous developments and implementation of new solutions such as healthcare information technology (HCIT) solutions and next-gen care management solutions for improved health outcomes with clinical guidelines, and empowered population health, which is proliferating opportunities for the market," says a PMR analyst.
Implementation of Care Management Solutions in Healthcare Organizations to Boost Market Growth
In the recent past, it has been observed that, healthcare organizations across the world are deploying care management solution platforms in order to improve patient care and reduce healthcare costs. This also helps promote healthcare IT technologies by providing standalone software / modules such as disease management and case management utilization management for caretakers and healthcare professionals.
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For instance, in July 2020, Health Catalyst, Inc. launched new care management solutions named Care Management Suite for healthcare organizations. These tools and processes deliver visibility across the continuum of care for high-risk and at-risk populations, enabling the integration of multiple disparate data sources. This facilitates more streamlined and patient-centric workflows to improve the quality of patient care, and reduce overall healthcare costs. Such developments will work well for the progress of the global care management solutions market in the years to come.
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More Valuable Insights on Care Management Solutions Market
A new market research report published by Persistence Market Research (PMR) on the global care management solutions market includes global industry analysis of 2015-2019 and opportunity assessment for 2020-2030. The report provides valuable insights on the basis of solution (software [integrated care management software suites and standalone software/ modules {disease management, utilization management, case management, and others}] and services [professional services {care management assessment services, healthcare consulting, integration & implementation, and support & maintenance}, and managed services]), deployment (cloud-based [web-based] and on-premise), and end user (hospitals & clinics, accountable care organizations (ACOs), health insurance providers, and others), across six major regions.
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