Global Referral Management Market was valued at USD 2820.22 million in 2019 which is expected to reach USD 9760.33 million by 2027 at a CAGR 22.87%.
Referral Management Market report delivers complete data from 2020 to 2027 based on the revenue generation, and historical, existing, and forecasted growth in the market in terms of the market value and volume. Moreover, the report comprises notable changes taking place in the market structures over the analysis period. Diverse analyses of influential trends in the Referral Management market, confirmable projections, along with macro and micro-economic indicators, regulations, and mandates have also been added in the study. In doing so, the report casts light on the growth of each significant segment of the Referral Management Market during this forecast period.
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Referral Management system is widely used in healthcare sector such as hospitals, and clinics etc., to keep track of patient referrals information throughout their treatment period. This system mainly focuses on improving the communication between different healthcare providers which are involved inpatient care. Also, this system helps in managing the patient’s revenue cycle and processing the claims efficiently.
Increase in government initiatives to incorporate IT solutions in healthcare is the key driving factor which is expected to boost the global referral management market. Furthermore, increase in geriatric population and subsequent increase in the incidence of chronic diseases will positively contribute the market growth.
Moreover, increase in adoption of cloud-based systems which are expected to propel the global referral management market growth. In addition to that, rise in collaboration and partnership activities by key players will fuel the market growth. For instance, in Aug 2019, Cantex, and Diakon had partnered with Netsmart for launch of Netsmart Referral Manager. Netsmart referral manager can accept electronic referrals and automates the referral process.
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However, lack of awareness and lack of skilled and trained healthcare IT professionals are the major challenging factors which are expected to hinder the global referral management market growth. Also, reluctance to adopt HCIT solutions and data security concerns will affect the market.
The report includes the key driving forces prevailing in the global Referral Management Market. This part of the report has been studied keeping in mind the political, economic, social, technological, geographical, and cultural scenario of the global Referral Management Market. These factors can be projected to have their effects on the market, or they can have interconnected impacts. Besides, subtle change in the timeframe within which these factors are functioning might have ripple effects on the global Referral Management Market.
Market Key Players
Various key players are discussed in this report such as CERNER CORPORATION, CAREPORT HEALTH, OPTUM, INC, CHANGE HEALTHCARE, EHEALTH TECHNOLOGIES, KYRUUS, PERSISTENT SYSTEMS, and HEALTHVIEWX
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– Professional Referral
– Third Party Referral
– Web-Based Delivery Mode
– Cloud Based Delivery Mode
– On-premise Delivery Mode
By End User
– North America
– Latin America
– Asia Pacific
– Middle East & Africa
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