(PharmaNewsWire.Com, November 13, 2019 ) According to research report "Accountable Care Solutions Market by Product & Service (EHR, Healthcare Analytics, HIE, RCM, CDSS, Population Health, Claims Management, Care Management), Delivery mode (On-Premise, Web & Cloud), End User (Provider & Payer) - Global Forecast to 2021", The accountable care solutions market witnessed healthy growth rate during the last decade and is expected to grow at a CAGR of 16.6% between 2016 and 2021 to reach USD 18.86 Billion by 2021.
The growth in this market is mainly attributed to factors such as increasing government initiatives, implementation of initiatives to shift the burden of financial risk from payers to healthcare providers, growing need to curb healthcare costs and advancing IT and big data capabilities.
The global accountable care solutions market is segmented on the basis of product and service, delivery mode, end users and regions. Based on product and service, the global accountable care solutions market is segmented into healthcare provider solutions, healthcare payer solutions and services. In 2015, healthcare provider solutions accounted for the largest share of the accountable care solutions market covers electronic health/medical records, healthcare analytics, revenue cycle management, patient engagement solutions, population health management solutions, care management solutions, healthcare it integration systems, healthcare information exchange and clinical decision support systems.
This segment is also expected to witness the highest growth in the next five years. The growing need to improve the profitability of healthcare operations and government initiatives for eHealth implementation to improve the quality of care delivered to patients & curtail healthcare costs are the major drivers of market growth. The services segment is further classified into support & maintenance services, implementation services, consulting services, training & education services.
Furthermore, on the basis of end users, the market is classified into healthcare providers and healthcare payers. The healthcare providers end user segment accounted for the largest share of accountable care solutions market. The growing need to improve the profitability of healthcare operations and government initiatives to improve the quality of care delivered to patients & curtail the soaring cost of healthcare are some of the factors driving the adoption of accountable care solutions among providers.
In 2015, North America was the major market for accountable care solutions product and service, followed by Europe and Asia-Pacific. The highest market share of North America and European regions is primarily attributed to the presence and expansion of major healthcare IT companies through acquisitions which has improved the accessibility of accountable care solutions products and services in this region. However, Asia-Pacific and Latin American regions provide wide scope for the accountable care solutions market growth. This is mainly attributed to the continuous efforts of Asian economies toward the development of the healthcare sector in this region.
These economies have modified regulations and monitored the implementation of procedures, policies, and guidelines to promote innovation and commercialization. This is attracting many homegrown entrepreneurs as well as global leaders to the region. The increasing number of hospitals, academic institutions, government focus to implement information technology in healthcare and improving healthcare infrastructure propel the market for accountable care solutions.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including: