Global Care Management Solutions Market: Overview
Factors such as the explosion of big
data, an undeniable shift toward patient-centric care, and the rising
need to streamline expenses are all coming together to act as enablers
for the growth of the global care management solutions market. Care
management solutions and software enables healthcare providers to manage
data pertaining to their members. It also helps healthcare providers to
make better decisions and meet their goals faster by offering
population management solutions to keep a check on costs without
compromising on quality.
A typical care management solution first
accesses the data of a patient to assess their healthcare needs. Care
management software then provides healthcare plans and brings various
coordinators on the same page so different departments can seamlessly
execute the task at hand. Some care management solutions are also
integrated with transplant networks or other healthcare establishments.
By creating an all-encompassing platform where the healthcare providers,
the patient, and their family can track and monitor the status of
healthcare programs, care management solutions have redefined
patient-centric care in more ways than one.
The global care management solutions
market has thus seen the emergence of several vendors, many of whom are
large companies with diversified business interests. The report analyzes
the factors that are driving more care managers across the world to
make investments in care management solutions. It also takes a look at
the factors that will restrain growth and updates readers about the
latest trends emerging in this space.
Global Care Management Solutions Market: Drivers and Restraints
The biggest driver arguably for the rapid
development of the global care management solutions market is the
healthcare-associated risk shifting from the patients to the healthcare
providers. With patient-centric healthcare policies having transformed
the way medical care is delivered, it is now easy to see why the demand
for care management solutions and software in rising steadily. Where
until a few years ago manual processes were the only means of carrying
out everyday operations, automation and interconnectivity have made that
approach nearly obsolete.
At the same time, the global medical
tourism industry is registering impressive growth numbers year on year.
This has helped healthcare establishments in emerging economies adopt a
positive investment sentiment as far as care management solutions are
concerned. Another high-impact growth driver for the global care
management software and solutions market is the massive data that
virtually every medium and large healthcare organization generates.
Organizations endeavoring to make the most of this data are now more
willing to use care management solutions as a means.
However, it would be too early to say
that the growth of the care management solutions market has taken off in
the real sense. Several regions that have high investment potential but
are hamstrung by the lack of internet connectivity are a missed
opportunity for companies in the global care management solutions
market. Moreover, in some countries in Asia and Latin America where
basic healthcare infrastructure still remains below the desired levels,
it will be a while before the environment becomes conducive to the
adoption of care management solutions and software.
Global Care Management Solutions: Opportunities
The demand for chronic care management
solutions is where most companies are currently finding lucrative
opportunities. Chronic diseases account for well over half of all deaths
worldwide. With chronic diseases such as cancer, diabetes, stroke,
cardiovascular disease, and respiratory diseases assuming epidemic
proportions, hospitals are finding themselves faced with certain
challenges – many of which can be taken head on with the use of care
management solutions.
Thus, the use of care management
solutions for chronic conditions will continue to remain a massive
revenue generator for the market.
Companies that currently stake a claim to
the highest revenue shares in the global care management solutions
market are: TriZetto Corporation, Allscripts Healthcare Solutions, Inc.,
EXL Healthcare (U.S.), HealthSmart Holdings, Inc., and others.
The report offers a comprehensive
evaluation of the market. It does so via in-depth qualitative insights,
historical data, and verifiable projections about market size. The
projections featured in the report have been derived using proven
research methodologies and assumptions. By doing so, the research report
serves as a repository of analysis and information for every facet of
the market, including but not limited to: Regional markets, technology,
types, and applications.
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