Global Healthcare Payer Solutions Industry
As per a report, the global healthcare payer solutions market is expected to expand in a reflective manner. The market size will reach to USD 37.4 billion by 2025, up from USD 14.9 billion in 2017, growing at a CAGR of 12.2 % during the forecasted period from 2018 to 2025.
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The healthcare payer solutions is a systematic plan offering broad range of innovative and cost-effective healthcare solutions in order to enhance operational efficiency and to reach the ultimate goal of health care transformations. There are various factors that drive the market and some of the factors include increasing demand for streamlined business processes, rise in healthcare fraud due to outsourcing and better customer services are some of the factors that are likely to propel the market size in the future.
Regularly changing reforms for healthcare including technological advancements, rising healthcare expenditure are motivating payers to re-vamp the business models. Meanwhile, cost-effective solutions for healthcare payers and betterment in health benefit plan designs will fuel the market size in the future. However, administrative control breakdown and failure of confidentiality will affect the growth of healthcare payer solutions market in the future.
The market of global healthcare payer solutions market has been segregated into type and application. Based on the type, the market has been divided into Claims Management Solutions, Payment Management Solutions, Provider Network Management Solutions and others. Based on the application, the market has been segmented into Healthcare Provider and Healthcare Payer.
Detailed Regional Analysis
The regional analysis will help in having clear picture of the development in the global healthcare payer solutions as per the regions. The global market has been analysed across the United States, Europe, India, Japan, China, and Southeast Asia. Region wise, North America holds the leading position in healthcare payer solutions which is due to increasing demand for integrated healthcare system along with the rising insurance enrolment in the region. Meanwhile, Asia-Pacific region is also anticipated to emerge as the fastest growing region in terms of market share. Countries such as India, China, Vietnam, Singapore, Malaysia, Philippines etc are more involved in outsourcing activities which will fuel the market size in the future. Additionally, improving healthcare infrastructure is also expected to further boost the growth in APAC region over the forecast period. European market is also showing significant development in the healthcare payer solutions market mainly due to enhanced digitalization of healthcare process in the European region. Increase in number of individuals looking for insurance and rising stringency of Regulatory Healthcare Landscape will fuel the market size.
The rising competition among the leading players is likely to bring constructive results in the global digital healthcare payer solutions market and the market will witness partnerships & agreements among major players that are presently operating in the market. Recent developments, trends, and opportunities in the global Healthcare Payer Services Market is also studied in the report.
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