The global care management solutions market was valued at USD 12,511.0 million in 2019 and is expected to grow at a CAGR of 12.5% over the forecast period. Increasing efforts taken by the organizations to lower the burden of risk from the healthcare payers and hand it over to the healthcare providers is a major factor fueling the growth of global care management solutions market over the forecast period. This is carried out through the implementation of healthcare information technology solutions which can be useful to ensure high efficiency of the healthcare services that are delivered to the patient as well as it is used to reduce the extra unnecessary cost of healthcare to the patients and their family members.
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The rise in demand for care management solutions software can be attributed to the growing geriatric population, rising prevalence of chronic diseases along with increasing demand for patient-centric solutions among healthcare providers. Furthermore, advancement in IT solutions and big data management capabilities accelerates the development of care management solutions software in the forecasted period.
Citing an instance, Medicare made use of value-based payment modifier program to make payments which are under the Medicare physician free schedule for number of physicians or individuals practicing physiotherapy. These models for the payments in the medical department helps the healthcare providers such as hospitals and care centers to take accountability of the healthcare services that they deliver to the patients.
Care management solutions is a comprehensive suite of services and activities that help patients with chronic or complex conditions manage their health. There are various care management solutions services provided, which include ongoing IT support & implementation service, consulting services, training & education services, and post-scale & maintenance services etc.
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The need for care management solution services is increasing with the rise in prevalence of various chronic diseases. Services for instance disease management programs, which guide patients through a daily health check based on their health conditions such as anxiety, asthma, bipolar, chronic kidney disease (CKD), chronic obstructive pulmonary disease (COPD), Depression, Diabetes and Coronary artery disease (CAD) etc.
According to the report from the Centers for Disease Control and Prevention, Americans living with chronic physical and mental health conditions account for 90% of the USD 3.5 trillion the U.S. spends each year on healthcare. Appropriate care management solutions services can help healthcare organizations lower those costs, while improving care quality and efficiency.
Several healthcare organizations are putting constant efforts to offer improved and comprehensive care to the patients to ensure their satisfaction, ease and fast recovery and low cost. These factors all together are contributing to the demand and growth of global care management solutions market over the analysis timeframe. Factors such as increase in price of software solution, along with lack of expertise as well as high cost of support and maintenance of these services are likely to hamper the growth of global care management solutions market.
Despite that, rising technological adoption and integration over several economies, increase in healthcare expenditure, rising spending on research activities and rising government initiatives for the implementation of HCIT solutions nationwide are also creating opportunities for the growth of global care management solutions market over the forecast period. Further, implementation of IoT and sensor technology in several equipment and software is fueling the market growth.
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The growing patient pool across the globe is demanding the need for high-quality care at a lowered cost. The healthcare providers across the globe are facing the daunting task of revamping the delivery system to improve quality and continuum care at lowered costs. Furthermore, healthcare organizations are working towards managing the growing healthcare needs & reducing per capita healthcare costs to transform the delivery of care. The rising disposable income, healthcare expenditure, and government initiatives towards the betterment of healthcare facilities across emerging economies like China, Japan, and India are projected to offer fresh revenue generation avenues for the market players over the forecast period.
Key Segments of Global Care Management Solutions Market
Component Overview, 2015-2025 (USD Million)
- Software
- Services
Delivery Mode Overview, 2015-2025 (USD Million)
- On Premise
- Cloud Based
Application Overview, 2015-2025 (USD Million)
- Chronic Care Management
- Case Management System
- Utilization Management
- Others
Regional Overview, 2015-2025 (USD Million)
- North America
- S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Central and South America
- Middle East & Africa
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Major points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Global Care Management Solutions Market Overview, By Component
Chapter 6 Global Care Management Solutions Market Overview, By Delivery Mode
Chapter 7 Global Care Management Solutions Market Overview, By Application
Chapter 8 Global Care Management Solutions Market, by Region
Chapter 9 Company Profiles
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