JERSEY CITY, NJ, January 20, 2022 /PRNewswire/ — Verified Market Research recently released a report, “Healthcare Provider Network Management MarketBy Component (Provider Network Management Software and Provider Network Management Services) and Geography. According to verified market research, the global Healthcare Provider Network Management market size was valued at $3,279.06 million in 2020 and is expected to reach $11,215.42 million by 2028, growing at a CAGR of 16.34% from 2021 to 2028.
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202 – Pages
126 – Tables
37 – Numbers
Global Healthcare Provider Network Management Market Overview
The flow of patients to hospitals is increasing and individuals are becoming more aware of insurance policies, which is one of the major factors that reinforce the need for healthcare provider network management. In 2019, more than 36 million hospitalizations took place in United States alone. In 2020, approximately 91% of the population of United States they are estimated to have health insurance coverage in the country, while 8%, or 28.0 million, did not have health insurance during the year. The Affordable Care Act brought coverage to around 20 million people, reducing the share of uninsured adults aged 19-64 from 20% in 2010 to 12% in 2018. Expected to increase in coming years , especially in the United States.
The IT sector has also played a crucial role in the growth of the market. The healthcare provider network management solution provides payers with robust analytics and near real-time transaction data, allowing providers to see patient status and outcomes through timely reporting. Using machine learning and real-time data, providers can identify suspicious claims among the millions of exact claims. It also helps monitor patient records to predict hospitalization, readmission, and disease progression, allowing providers to manage care management programs. The provider network management system helps integrate patient data such as care plans, lab test results, authorizations and medical claims, saving organizations from searching through several systems.
The system also includes data storage and analysis methods through which suppliers are able to identify areas of opportunity for expansion. With fast access to accurate network data, payers can better manage costs, improve collaboration with providers, and provide members with the information they need to make informed medical decisions. The global healthcare provider network management market is driven by increasing implementation of state and federal rules in the US, especially in sectors such as ambulatory surgery centers, which have witnessed a rise fast in recent years. With the increase in demand for outpatient surgery centers, these centers are increasingly subject to various federal regulations, creating demand for healthcare provider network management software/services to maintain regulatory compliance.
Major market players are Trizetto Corporation (A Cognizant Company), Ayasdi, Inc., McKesson Corporation, Optum, Inc., Genpact Limited, Infosys BPO, Ltd., Syntel, Inc., Emphasis Limited, Vestica Healthcare, LLC (A Skygen United States Company), Aldera, Inc.
Verified Market Research has segmented the global healthcare provider network management market on the basis of components and geography.
- Healthcare Provider Network Management Market, By Component
- Provider Network Management Software
- Provider Network Management Services
- Healthcare Provider Network Management Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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