Population Health Management is the aggregation and analysis of patient data across multiple health domains and data resources, so as to improve both clinical and financial outcomes. The Global Population Health Management Market is expected to grow to USD 44.37 Billion by 2023, at ~21.2% of CAGR between 2016 and 2023. The Population Health Management Industry is growing at the rapid pace; mainly due to the evolving digitization and computerization of data coupled with the growing processing power and inter-connectivity of systems. The explosive growth of healthcare data availability which includes clinical data, Industry data etc. is creating a new set of opportunities and challenges for healthcare industry. In 2012, the global Digital Healthcare Data was estimated to be around 500 petabytes and is expected to reach to 25,000 petabytes by 2020.
On the other hand there has been deterioration in clinical outcomes in spite of huge expenditure on healthcare. The U.S. alone spends a whopping 16% of its GDP on healthcare in 2015. Despite this huge GDP expenditure the United States doesn’t even rank in the top 10 best public health care systems with countries such as Denmark ranking higher than it. Thus the extreme need to fill in the gap between expenditure and outcomes is the most critical driving factor for population health management Industry.
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According to a recent study report published by the Industry Research Future, Globally, the Industry for Population Health Management has increased its Industry growth in recent years and is expected to gain prominence over the forecast period. The Industry is forecasted to witness a thriving growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period.
The WorldwidePopulation Health Management Market report evaluates the overall performance of this Industry during the assessment period. With industry undergoing a phase of technological disruption, innovations in products are likely to shape the future of the Global Population Health Industry research report 2017 to 2023.
The Population Health Management Industry report titled “Global Population Health Management Market Research Report- Global Forecast to 2023” is an expert analysis report summarizes the Industry by Component, Delivery mode and End user in-depth. The Worldwide Population Health Management Industry impressive growth path and has entered the ranks of some of the world’s leading industries with massive growth prospects in the near future in-depth.
Detail Market/ Innovation/ Related News:
NOV 16, 2017 – Central Ohio Primary Care, (Columbus, US) the largest physician-owned independent primary care medical group in the U.S., has entered into an agreement with local and national Medicare Advantage plans through COPC Senior Care Advantage, a new Population Health Management program designed to improve the quality, value, efficiency and outcomes of Medicare Advantage patients. COPC Senior Care Advantage will roll up its sleeves and focus on Medicare Advantage patients beginning in January of 2018, the new population-health based contracts comes with a variety of plans. The approach reflects the shift to more value-based care, a clinical and care delivery philosophy that has been slowly supplanting the old fee-for-service framework.
NOV 01, 2017 – Lumeris, one of the industry leader in value-based care solutions, announced a multi-year collaboration with Mount Sinai Health System, New York, the largest integrated delivery system (NY), to provide value-based care managed services. Under the terms of the agreement, Lumeris will provide operational support enabled by its industry-leading technology, to further Mount Sinai’s population health management objectives. Using Lumeris’ proven business model to provide better outcomes for consumers and reduce costs, Mount Sinai anticipates doubling the number of lives covered under value-based arrangements.
Moreover, implementation of Affordable Care Act and Hospital Readmissions Reduction Program coupled with Medicare initiative to penalize unnecessary patient readmissions is expected to propel the growth of global Industry of Population Health Management during the forecast period.
On the other hand, factors such as technical barriers as in differential file formats, differential data sources such as paper, graphs etc. and technological barriers such as problems with data collection and processing, integration of multi-point and multi-sectorial cross channel data etc. are expected to pose challenges to the Industry growth. Also, security concerns such as legal restrictions, data security and privacy concerns etc. are projected as Industry growth restraining factors during the forecast period.
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World Population Health Management Global Industry – Segments:
The Global Population Health Management Industry is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Component: Comprises Software and Service.
Segmentation by Application: Comprises healthcare economics and resource management, healthcare coordination & consultancy, clinical and compliance studies, surveillance and others.
Segmentation by Delivery Mode: Comprises On-premise, web and cloud based & mobile based.
Segmentation by End Users: Comprises Healthcare Providers, healthcare Payers, Government organizations and others
Segment Healthcare Providers by End Users hold the largest as in 45% of Industry Share.
Population Health Management Industry – Competitive Analysis
Characterized by the presence of several major well-established players, the global Industry of Population Health Management appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this Industry and to maintain their Industry position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The Key players operating in the Industry compete based on pricing, technology, reputation and services.
Population Health Management Industry – Regional analysis:
U.S. accounts for the maximum Industry share of the global population health management Industry and is expected to hold this position in the near future. This can be attributed to transition to value-based care delivery, leading to change from fee-for-service to a value-based payment models. The regulatory changes in the U.S. such as implementation of Affordable Care Act and Hospital Readmissions Reduction Program coupled with Medicare initiative to penalize unnecessary patient readmissions will strengthen the position of the U.S. Europe will be the second largest Industry. However Asia pacific will be the fastest growing Industry and the growth will be led by China, and India as these nations have huge population with an urgent need to avoid any future extreme healthcare expenditure and the possibilities of achieving highest benefit is in these regions.
Major TOC Global Population Health Management Industry Research Report- Global Forecast To 2023:
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 INDUSTRY STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
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