Global Healthcare Claims Management Market Research Report: By Component (Software and Services), by Delivery Mode (On-Premise and Cloud Based), by Type (Integrated and Standalone), and by End-User (Healthcare Payers and Providers) – Forecast Till 2023
Healthcare Claims Management Market – Sketch
Global Healthcare Claims Management Market is expected to grow significantly over the forecast period. It is estimated that the Global Healthcare Claims Management Market is expected to register a CAGR ~ 5.37% during the forecast period of 2018–2023. Healthcare claims management process comprises of various tasks such as organization, billing, filling, updating, and processing of medical claims related to the diagnosis, treatment, and medication of patients.
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Healthcare claims management process comprises of various tasks such as organization, billing, filling, updating, and processing of medical claims related to the diagnosis, treatment, and medication of patients. The healthcare claims management market is driven by factors such as improved focus on quality healthcare services and adoption of cloud-based technology related services. However, integration of claims management solutions, data breaches, loss of confidentiality, and lack of skilled IT professionals in healthcare are some of the factors restraining the growth of this market.
The Global Healthcare Claims Management Market is currently dominated by many market players. The key players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, IBM’s IPD Ultera for Disability Claims provides an integrated “disability claims management workbench”, specific to disability claims processing and without the need for a large-scale replacement project.
Key Players for Global Healthcare Claims Management Market
The fiercely competitive market of healthcare claims management appears to be fragmented owing to the presence of numerous large and small-scale players accounting for a substantial market share. These players try to gain competitive advantage through strategic initiatives such as partnership, acquisition, collaboration, expansion, and product/ technology launch. Key Players invest heavily in the R&D to develop a technology that is entirely on a different level compared to their competition.
Some of the key players in the Global Healthcare Claims Management Market are Cerner Corporation, McKesson Corporation, athenahealth, Inc., eClinicalWorks, Optum, Inc., Conifer Health Solutions, nThrive, Inc, Avaya Inc., Oracle Corporation, Infor Inc., Allscripts Healthcare Solutions, Inc., Accenture plc., IBM Corporation, Cognizant Technology Solutions Corporation and Genpact Limited.
Segments for Global Healthcare Claims Management Market
The Global Healthcare Claims Management Market has been segmented into component, delivery mode type and end-user. The market, based on component, has been segmented into software and services. The market, by delivery mode, has been segmented into on-premise and cloud based. The market, by type, has been segmented into integrated and standalone. The market, by end-user has been segmented into healthcare payers and providers.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The healthcare claims management market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European healthcare claims management market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The healthcare claims management market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The healthcare claims management market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Analysis for Global Healthcare Claims Management Market
The North America region is expected to continue with its dominance over the global healthcare claims management market throughout the forecast period. The market is heading with the significant market share owing to the favorable government policies, and the rapid adoption of claim management solutions that are availing increasing incentives.
The growing investments in the field of healthcare information technology (HCIT) alongside the presence of regulatory mandates favoring the implementation of healthcare claims management solutions foster the growth of the regional market.
The US and Canada among other North American countries have successfully implemented healthcare IT in their healthcare system, which as a result is boosting the growth in the regional market over the forecast period.
Additionally, the presence of developed infrastructures of healthcare & IT coupled with favorable government initiatives in executing claims management, regulatory framework, and innovations in the field would further propel the market growth in the region.
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Europe & Asia Pacific accounts for the second & third largest market, respectively, in the global healthcare claims management market. Factors such as the improved digitization along with the increasing focus on data integration and data governance for the increasing number of claims in the healthcare sector would drive the growth of the European claim management market.
The Asia Pacific claims management market is driven by the developments in technology and healthcare infrastructure. The increasing adoption of claims management systems in the increasing number of healthcare facilities in the region fosters the regional market. Developing countries like India, China, and Japan account for the wide adoption of these management products and services and hence, account for the major contributors to the market growth in the region.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
TOC Continued…
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