Global Accountable Care Solutions Market Size, Trends, and Analysis - Forecasts To 2026 By Product & Service (Healthcare Provider Solutions, Services, Healthcare Payer Solutions), By Delivery Mode (Web & Cloud-based Delivery Mode, On-Premise Delivery Mode), By End-User (Healthcare Payers, Healthcare Providers), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Accountable Care Solutions Market: Insights
Accountable care services are primarily responsible for handling healthcare costs and quality. Synchronizing and providing advanced quality health care from physicians and other professionals to hospitals is the objective of accounting services.It is necessary to ascertain whether they offer a higher quality of health care and enhanced efficiency to be commercially efficient as a responsible care organization.Accountable care solutions help to accumulate distinct data from electronic health records (EHR) while enabling providers to use their current systems and workflows. The payers set up a framework whereby provider groups concur to care for a patient population to accomplish or exceed predetermined performance and cost benchmarks.
Implementing government policies and the incentives to transfer the burden from healthcare payers to providers and increasing numbers of accountable care organizations have contributed to the growth of the market for accountable care solutions.The growing global geriatric population has resulted in a major increase in the number of chronic illnesses.A patient-centric care environment is created by the different schemes and guidelines set by the government.The general trend of acceptance of the cloud-based platform is increasing at a substantial rate, which is strongly expected to fuel future growth and offers exciting opportunities.
The fast-emerging trend in analytics is considered to be big data. The most recent developments in machine learning, logical methodologies, computer intelligence, and data mining are incorporated into the market for big data analytics. Many healthcare practitioners, including payers, are now beginning to examine big data to gain extensive information.
Advancements in IT infrastructure and services and Big Data technologies are also responsible for market growth.The technologies are used at the member/patient level to combine claims-based and EMR-based data sources. This data strengthens the in-depth analytics used for clinical decision support placement of care management systems and planning.
Accountable Care Solutions Market: By Product & Service
The segment of healthcare provider solutions is anticipated to widen at a significant CAGR in 2020.The key drivers of market growth are the increasing need to enhance the sustainability of healthcare operations and government measures for the introduction of eHealth to enhance the quality of care given to patients and curb healthcare costs. The overall productivity of organizational workflows and administrative activities is improved. Solutions for healthcare providers aid patients in making critical medical choices.Healthcare providers include both small and big clinics, hospitals, and other health facilities. Several aspects of the Affordable Care Act (ACA) have resulted in an increasing number of programs being introduced in the United States for population health management. At the same time, the ACA tries to minimize the number of uninsured persons to minimize the government and individualhealthcare costs.
Accountable Care Solutions Market: By Delivery Mode
Over the forthcoming years, the web & cloud-based delivery mode segment is expected to boost the share of the market.This is attributable to cloud platforms being rapidly embraced. The market is influenced & guided by the increasing application of cloud analytics as it helps businesses to integrate multi-source data. To improve treatment and minimize the costs, accountable care organizations were created. The increasing trend in healthcare analytics demand is expected to have a positive impact on the market for accountable care solutions in the adoption of cloud computing and healthcare across numerous sectors.
Accountable Care Solutions Market: By End-User
It is expected that the healthcare payers’ segment will account for the largest market share position in 2020. This is due to rising R&D activities combined with increasing drug development costs. Healthcare payers are non-patient groups that fund or reimburse health service costs. They are among the main end-users of solutions for responsible treatment. For health insurance providers, the introduction of accountable care solutions is important as it improves the participation of patients in their care, resulting in lower costs, enhanced health outcomes, and better control of patient reimbursements and health records.
Clinical and statistical models depend on healthcare payers. Big data analysis allows them to classify participants with such chronic health conditions and to devise the most effective patient care management plans. It also allows them to improve the efficacy of services for healthcare management.
Accountable Care Solutions Market: By Region
The North American area remains a major market shareholder in the projected timeframe in terms of revenue.Itis driven by factors that have led to the market due to the increasing occurrence of cancer, the increasing number of skilled professionals, and the growing R&D facilities. Moreover, the acceptance of cloud-based technologies, the development in technology, and increasing awareness of patient care management.
Furthermore, in the Asia-Pacific region, a significant CAGR rate over the expected timeframe will be demonstrated.Growing interest and expenditure by leading players in the sector and ongoing joint projects are also accountable for regional investment.The growth can be attributed to the elevated prevalence of cancer coupled with strategic policies and investment in the healthcare sector. Moreover, the growing medical tourism, the rising demand for quality healthcare,the increasing expenditure on R&D activities along withthegrowing urbanization, are some of the factors affecting the growth of the regional sector.
Accountable Care Solutions Market: Share & Competitor Analysis
Allscripts Healthcare Solutions, Inc., Verisk Health, Inc., Cerner Corporation, Aetna, Inc., EPIC Systems Corporation, Zeomega Inc., IBM Corporation, UnitedHealth Group (Optum Health), Mckesson Corporation, and Eclinicalworks, LLC among others are the prime competitors that compete in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In January 2021, Allscripts Healthcare Solutions, Inc. collaborated with MATTER, Microsoft, and ARC innovation center at Sheba Medical Center.
In December 2020,Cerner Corporationsigned an agreement with Kantar to acquire its health division for USD 375 million to enhance the efficiency, safety, and efficacy of clinical research across pharmaceuticals and life sciences.
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The Global Accountable Care Solutions Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Accountable Care Solutions Market
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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