Global clinical risk grouping solutions market is expected to rise to an estimated value of USD 1084.76 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing demands for providing effective administrative solutions for the reduction of incidences of physician burnout, along with adoption of highly effective technological offerings such as AI and machine learning to implement better analytical solutions.
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Key Market Competitors:
Few of the major competitors currently working in the global clinical risk grouping solutions market are 3M; Optum, Inc.; Nuance Communications, Inc.; Conduent, Inc.; Cerner Corporation; HBI Solutions, Inc.; 4S DAWN Clinical Software; The Johns Hopkins University; Lightbeam Health Solutions, LLC; Dynamic Healthcare Systems, Inc.; PeraHealth; Health Catalyst; Evolent Health, Inc.; Indegene; Intalere; Change Healthcare; Milliman, Inc.; COTIVITI, INC.; Episource, Med-IQ, Inc. among others.
Global clinical risk grouping solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of clinical risk grouping solutions market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global Clinical Risk Grouping Solutions Market
Clinical risk grouping solutions are software solutions designed to improve the overall clinical operations of a facility by categorizing patients in groups depending on the severity of their need and the availability of resources available with the facility. This solution focuses on analyzing the patient data, facility data, resources availability and provides conclusive insights in the form of insights with the help of various technological implementations, such as AI, machine learning and big data.
Global Clinical Risk Grouping Solutions Market By Product (Scorecards & Visualization Tools, Dashboard Analytics Solutions, Risk Reporting Solutions), Deployment Model (Private Cloud, Public Cloud, Hybrid Cloud), End-User (Hospitals, Payers, Ambulatory Care Centers, Long-Term Care Centers, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
- Increasing utilization of big data based solution offerings; this factor is expected to propel the growth of the market
- Enhanced levels of focus for adopting effective risk management services can act as a market driver
- High demand for the reduction of rising healthcare expenditures is expected to propel the growth of this market
- Adoption of cloud-based deployment of these solutions is expected to propel the growth of the market due to its low-cost of deployment
- Growing concerns amongst the population due to the lack of infrastructural availability in various healthcare facilities for the implementation of these services is restricting the market growth
- Concerns regarding the breach of private data and leaking of this confidential information can act as a market restraint
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Key Developments in the Market:
- In June 2019, Health Catalyst announced the launch of “Population Health Foundations” solution. This launch is an upgradation of the existing population health technology provided by the organization which will help in provision of valuable insights and analytical views which are of utmost importance for the succession of an organization while providing value-focused healthcare services
- In May 2019, HBI Solutions, Inc. announced that they had entered into a partnership with Iatric Systems, Inc. to focus on their enhancement for solutions offerings. This partnership will enhance the levels of IT expenditure of HBI Solutions, Inc. resulting in better prediction services of risk scores provided to healthcare providers for the prevention of any mortality, sepsis, and also reducing the stay of hospitals along with incidences of any re-admission
Segmentation: Global Clinical Risk Grouping Solutions Market
- Scorecards & Visualization Tools
- Dashboard Analytics Solutions
- Risk Reporting Solutions
By Deployment Model
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Ambulatory Care Centers
- Long-Term Care Centers
- North America
- South America
- Middle East and Africa
Reasons to Purchase this Report
- Current and future of global clinical risk grouping solutions market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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