The process of classifying groups of people is population health management (PHM), which aims to sustain and enhance health outcomes for these groups. Population Health Management solutions target population-level data-driven healthcare and allow patient segmentation based on common medical conditions and attributes. PHM allows collection of data, risk stratification, coordination of treatment, and contact with patients. PHM is a patient-friendly network that promotes the control of care costs by better cost-effective alternatives. The platform also allows payers and vendors to control risks related to reimbursement policies. The healthcare system has increasingly been patient-centric in recent years. The use of Population Health Management has led to an increase in the quality of life and a reduction in overall spending. In addition to identifying target high-risk populations, disease management systems evaluate demographic characteristics and use of healthcare.
Market growth can be attributed to Government mandates and funding for healthcare IT solutions, increased use of big data analytics and the need to reduce the rising cost of healthcare can be attributed to market growth. Moreover, emerging economies with a growing emphasis on personalized medicine and a rising focus on value-based medicine, are expected to provide market players with lucrative growth opportunities over the forecast period.
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Global Population Health Management Market: Key Players
- Allscripts Healthcare Solutions
- Siemens Healthcare GmbH
- Conifer Health Solutions, LLC.
- Cerner Corporation.
- McKesson Corporation
- Health Catalyst
- Koninklijke Philips N.V
- Optum, Inc.
Global Population Health Management Market: Segments
The software Segment to grow with the highest CAGR during 2019-30
Global Population Health Management Market is segmented by component into software and services. The greater market share in 2018 was accounted for by the software segment and is expected to see the highest growth during the forecast period. The increased adoption of software solutions by payers and suppliers to minimize readmissions, increase cost-effectiveness, improve operational performance, improve patient experience, and support data integration and analysis can be attributed to the large share of this segment.
The cloud-based delivery mode segment to grow with the highest CAGR during 2019-30
Global Population Health Management Market is segmented by delivery mode into web-based, cloud-based, and on-premise. The greater market share in 2018 was accounted for by the web-based delivery mode segment owing to factors such as the fast growth of hardware and software and an increase in the number of upgrades to the software. Solutions for population health management are provided to end-users via on-premise and cloud-based distribution modes. The benefits provided by the on-site delivery mode, such as customizing solutions, minimizing the risk of data breaches, and the ability to reuse existing servers and storage hardware, encourage its increased acceptance in the market for population health management.
Healthcare providers to grow with the highest CAGR during 2019-30
Global Population Health Management Market is segmented by end-users into healthcare providers, healthcare payers, and other end users. The greater market share in 2018 was accounted for by the healthcare providers segment and is expected to see the highest growth during the forecast period. The large proportion of this section is due to the introduction in the US of the Affordable Care Act and Hospital Readmissions Reduction Program, as well as the high demand among healthcare providers for PHM solutions due to the benefits provided by these solutions.
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Global Population Health Management Market: Market Dynamics
Growing geriatric population with a prevalence of chronic diseases
The rising geriatric population confirms the development of the demand for population health management. Since they are vulnerable to illness due to low levels of immunity and elevated recovery time, the elderly population needs extensive treatment. The elderly are more vulnerable to chronic diseases such as cancer and cardiovascular diseases, thereby increasing the need for better diagnosis, prevention, and care. As they have poor immunity and are more vulnerable to drug reactions, the older population often has an increased need for personalized medication. Increased demand for PHM is therefore created by the rising geriatric population.
High investment and maintenance and requirements
There has been a critical rise in the use of handheld devices with the growing prevalence of cloud-based applications and wireless networking in the healthcare sector, raising concerns about the protection of private patient information, which is a key concern for providers of population health management. However, the development of this market is adversely affected by data breaches, a shortage of qualified analysts, and interoperability problems. Furthermore, the risk posed by computer viruses is also increasing, which can lead to a deterioration in the skills of population health management. During the forecast period, this risk of low information security is expected to restrict the growth of the market for population health management.
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Global Population Health Management Market report also contains analysis on:
Global Population Health Management Market Segments:
- Post-Sale and Maintenance Services
- Consulting Services
- Training and Education Services
- Implementation Services
By Mode of Delivery:
- On-premise Mode of Delivery
- Web-Based Mode of Delivery
- Cloud-based Mode of Delivery
By End User:
- Healthcare Providers
- Healthcare Payers
- Other End Users (Employer Groups and Government Bodies)
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