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Press release content from Business Wire. The AP news staff was not involved in its creation.

Care Management Solutions Markets - Global Forecast to 2026: Implementation of Initiatives to Shift the Burden of Risk from Healthcare Payers to Providers - ResearchAndMarkets.com

August 31, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Aug 31, 2021--

The “Global Care Management Solutions Market by Component (Software, Services), Delivery Mode (On-Premise, Cloud-based), End-user (Payers, Providers), Application (Disease Management, Case Management, Utilization Management), and Region - Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global care management solutions market is projected to reach USD 21.6 billion by 2026 from USD 12.6 billion in 2021, at a CAGR of 11.4% during the forecast period.

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The growth of this market is driven by the implementation of initiatives to shift the burden of risk from healthcare payers to providers, government initiatives and regulations promoting patient-centric care, initiatives to promote healthcare IT, rising geriatric population, and need to reduce healthcare costs are driving the growth of the care management solutions market.

Software segment is expected to grow at the highest CAGR

On the basis of component, the care management solutions market is segmented into software and services. The software segment accounted for a larger market share of 75.1% in 2020. The large share of this segment can be attributed to the increased adoption of software solutions by payers and providers to reduce readmissions, increase cost-effectiveness, improve operational efficiency, enhance patient engagement, and aid data integration and analysis.

Cloud-based segment to register the highest CAGR

Care management solutions are delivered to end users through the on-premise and cloud-based modes of delivery. The on-premise solutions segment accounted for a larger market share of 64.8% in 2020. The advantages offered by the on-premise mode of delivery, such as customization of solutions, reduction in the risk of data breaches, and the ability to reuse existing servers and storage hardware, are supporting its increased adoption in the care management solutions market.

North America to witness significant growth from 2021 to 2026

In 2020, North America accounted for the largest share of the care management solutions market. The large share of North America can be attributed to the increased adoption of care management solutions by healthcare providers and payers to meet the healthcare goals of better quality care and lower healthcare costs. Also, several major global players are based in the US, owing to which the US has become a center for innovation in the care management solutions market.

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Some of the prominent players operating in the care management solutions market are EXL Service Holdings, Inc. (US), Casenet, LLC (US), Medecision Inc. (US), ZeOmega Inc. (US), Cognizant Technology Solutions (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), and Epic Systems Corporation (US).

Premium Insights

  • Care Management Solutions Market to Witness Double-Digit Growth Rate from 2021 to 2026
  • Healthcare Payers Segment to Account for the Largest Market Share in 2020
  • Europe to Witness the Highest Growth Rate During the Forecast Period

Market Dynamics

Drivers

  • Implementation of Initiatives to Shift the Burden of Risk from Healthcare Payers to Providers
  • Government Initiatives and Regulations Promoting Patient-Centric Care
  • Rising Geriatric Population
  • Growing Need to Reduce Healthcare Costs

Restraints

  • Shortage of Skilled Professionals

Opportunities

  • Emerging Markets
  • Technological Advancements in Healthcare IT Solutions
  • Rising Focus on Personalized Medicine

Challenges

  • Lack of Interoperability
  • High Cost of Deployment
  • Data Breaches and Loss of Confidentiality

Regulations

  • Interoperability and Patient Access Final Rule
  • Health Insurance Portability and Accountability Act of 1996 (HIPAA)
  • Health Information Technology for Economic and Clinical Health Act of 2009 (HITECH)
  • Consumer Privacy Protection Act of 2017
  • National Cybersecurity Protection Advancement Act of 2015
  • Cybersecurity Law of the People’s Republic of China
  • Affordable Care Act, 2010

Case Studies

  • Closing Gaps in Healthcare
  • Use Case 1: Focus on Identifying and Closing Gaps in Healthcare
  • Prioritizing Outreach for Care Coordination Amidst the Pandemic
  • Use Case 2: Prioritizing Outreach for Care Coordination Amidst the COVID-19 Pandemic

Companies Mentioned

  • Allscripts Healthcare Solutions
  • Arcadia
  • Assurecare LLC
  • athenahealth, Inc.
  • Casenet, LLC
  • Cerner Corporation
  • Cognizant Technology Solutions
  • eClinicalWorks
  • Epic Systems Corporation
  • EXL Service Holdings, Inc.
  • Health Catalyst LLC.
  • HGS Axis Point Health LLC.
  • i2i Population Health
  • IBM Corporation
  • Innovaccer
  • Koninklijke Philips N.V.
  • Medecision, Inc.
  • Nextgen Healthcare, Inc.
  • Optum (a Part of UnitedHealth Group)
  • Pegasystems Inc.
  • Salesforce.com, Inc.
  • TCS Healthcare Technologies
  • VirtualHealth
  • Wellsky (Formerly Mediware Information Systems)
  • ZeOmega Inc.

For more information about this report visit https://www.researchandmarkets.com/r/p5bwve

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KEYWORD:

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT HEALTH TECHNOLOGY INSURANCE MANAGED CARE SOFTWARE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 08/31/2021 10:52 AM/DISC: 08/31/2021 10:52 AM

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