According to a market research study published by Contrive Datum Insights, North America contributed 46.9% of the population health management market’s revenue.
Farmington, Jan. 25, 2023 (GLOBE NEWSWIRE) — The global Population Health Management (PHM) Market was valued at USD 34.44 Billion in 2022 and is projected to reach USD 184.51 Billion by 2030, growing at a CAGR of 20.5% from 2023 to 2030. Population health management (PHM) is the process of improving clinical health outcomes for a given population through improved care coordination and patient engagement, which is supported by the appropriate financial and service models. Its primary objective is to collect and analyse clinical data from a patient’s healthcare environment in an effort to improve the patient’s health as well as the provider’s financial outcomes. This concept transforms the delivery of primary care services from reactive to proactive.
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It provides comprehensive, well-researched ideas for changing the systems and policies that affect health care quality, access, and results. This enhances a population’s general health and drives the PHM market. In general, PHM programmes utilise a business intelligence (BI) tool to collect data and provide a comprehensive clinical portrait of each patient. Clinicians might use the data to monitor the results of care and, with any luck, improve them while reducing expenses.
Population Health Management (PHM) Market Recent Developments:
- July 2021 – Healthix and The Garage announced a partnership to launch a professional population health management platform for membership called Municipal. The platform will help Healthix organize, manage and analyze its vast repository of patient data.
- June 2021 – Emtiro Health, LLC and Innovaccer Inc. announced a partnership to develop a population health analytics platform for the North Carolina Managed Medicaid Care launch. Along with helping the two companies engage in value-based payment arrangements, the partnership will help develop a platform to support North Carolina’s transition to managed care, specifically high-end care housing and providers.
- December 2020 – Cerner Corporation announced that it had signed an agreement to acquire Kantar Health, a division of the Kantar Group. This acquisition will help promote the Learning Health Network to allow Cerner to engage more directly in the life sciences for funded research.
Population Health Management (PHM) Market Segmentation Analysis:
The services segment has the biggest market share in terms of revenue. This is due to the fact that hospitals and other care providers prefer to use their own solutions and systems rather than allowing third parties access to patient information. The increased requirement for integrated healthcare systems also contributes to the increase in PHM demand. With rising healthcare expenditures, firms are investing heavily in research and development (R&D) to create innovative technologies that can assist healthcare organisations. In June 2019, for instance, Health Catalyst, Inc. announced its Population Health Foundations solution.
In 2019, healthcare providers captured the largest proportion of the population health management market. PHM enhances the outcomes of medical centres and clinics by providing them with more effective disease management strategies. As a result, patients spend less time as in-patients in hospitals and medical centres, and physicians spend less time observing patients as a whole. Therefore, providers may concentrate more on reducing total expenditures and putting the patient’s needs first. In addition, a substantial amount of money is being invested in acute hospital care, which is anticipated to increase the number of providers in the next years. The growing number of elderly individuals, who are more prone to have chronic ailments, is a major factor in the rapid expansion of the market for healthcare services.
North America contributed 46.9% of the population health management market’s revenue in 2021. In 2021, total U.S. healthcare expenditures are projected to reach $4.8 trillion, or roughly 20% of GDP. Consequently, the worrying growth in healthcare expenditures increases the demand for a competent PHM. The administration is concentrating on providing more incentives and making more investments to enhance the nation’s health. This is achieved by carefully monitoring the health of the population and its subgroups. In North America, the market for population health management is being pushed by factors such as the demand on the healthcare industry to reduce costs, the increasing use of information technology in healthcare, cloud computing, the regulatory environment, and the increase in illness prevalence.
The U.S. government enacted the Affordable Care Act (ACA) to promote the use of IT in healthcare and prevent disease. This will contribute to the expansion of the market and provide service providers with more opportunities to gather and store patient information.
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Scope of Report:
|Growth Rate||20.5% from 2023 to 2030|
|Market Size in 2022||USD 34.44 Billion|
|Revenue Forecast by 2030||USD 184.51 Billion|
|By Product & Service||Software, Services|
|By End User||Healthcare Providers, Healthcare Payers, Other End Users|
|By Companies||Cerner Corporation (US), Epic Systems Corporation (US), Koninklijke Philips (Netherlands), i2i Population Health (US), Health Catalyst (US), Optum (US), Enli Health Intelligence (US), eClinicalWorks (US), Allscripts Healthcare Solutions (US), IBM Corporation (US), HealthEC LLC (US), Medecision (US), Arcadia (US), athenahealth (US), Cotiviti (US), NextGen HealthcareInc. (US), Conifer Health Solutions (US), SPH Analytics (US), Lightbeam Health Solutions (US), Innovaccer (US), Lumeris (US), Zeomega (US), HGS Healthcare, LLC (US), Persivia (US), Color HealthInc., (US), and Others|
|Historical Year||2017 to 2021|
|Forecast Year||2023 to 2030|
Numerous nations’ health care systems are anticipated to be significantly impacted by the ageing population and the associated increase in the incidence of diseases. Because government funds are tightening, there are fewer health professionals in some areas, and more individuals are developing chronic conditions, the effects of the ageing population are becoming even more apparent.
About one-third of healthcare data breaches result in medical identity theft. This is primarily due to insufficient internal control over patient information, insufficient support from senior management, out-of-date or disregarded policies and procedures, and inadequate employee training. All of these reasons lead to the surge in healthcare data breaches and medical identity theft cases. This makes it extremely difficult for the healthcare profession to maintain patient confidentiality.
Value-based medicine is altering the practise of healthcare by gathering and making meaningful data based on outcomes. Business Intelligence (BI) assists healthcare organisations in determining what data they require. It also assists them in analysing, evaluating, and employing this information to comprehend the entire costs and benefits and acquire a competitive advantage. It also clarifies all processes so that every purchase can be evaluated based on its value, utility, and results.
Population Health Management (PHM) Market Key Segments Covered:
Top Market Players:
Cerner Corporation (US), Epic Systems Corporation (US), Koninklijke Philips (Netherlands), i2i Population Health (US), Health Catalyst (US), Optum (US), Enli Health Intelligence (US), eClinicalWorks (US), Allscripts Healthcare Solutions (US), IBM Corporation (US), HealthEC LLC (US), Medecision (US), Arcadia (US), athenahealth (US), Cotiviti (US), NextGen HealthcareInc. (US), Conifer Health Solutions (US), SPH Analytics (US), Lightbeam Health Solutions (US), Innovaccer (US), Lumeris (US), Zeomega (US), HGS Healthcare, LLC (US), Persivia (US), Color HealthInc., (US), and Others.
By Product & Service
By Mode of Delivery
By End User
- Healthcare Providers
- Healthcare Payers
- Other End Users
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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