Additional rise in Demand for EHRs Expected to Increase Product Demand
The market for accountable care solutions was valued at USD 19.17 billion in 2022 and is anticipated to grow to USD 53.37 billion by 2032, with a CAGR of 10.83% between 2023 and 2032.
COVID-19 is a contagious disease that first appeared in late December in Hubei province in the Chinese city of Wuhan.
Demand for medical supplies has increased between both health workers and the population through safety measures, due to an increase in the number of COVID-19 cases worldwide. Manufacturers of these products have the opportunity to benefit from this growing demand for medical supplies to ensure the efficient and consistent supply of protective equipment on the market. Therefore, COVID 19 is expected to have a significant impact on the market in order to find the right care solutions.
Based on the product, part of healthcare provider solutions dominated the global market for responsive care solutions by 2021. Rapid demands for EHR, care management and delivery, patient engagement solutions are expected to incur further growth opportunities for accountable care solutions in terms of product variation. In addition, the financial growth of government and corporations in digital hospitals has spurred the growth of this sector over the past few years.
On the other hand, services are rated as part of a wide range of opportunities during forecasting. This is due to the increased acceptance of the medical field and telemedicine among patients and health workers for easy access to education consultation. In addition, startup services have gained momentum across a developed country that is expected to contribute to market growth.
End User Insight
Half of the providers dominated the global healthcare solutions market by 2021. Increased government action to promote access to electronic health care records and patient-centered solutions in hospitals and clinics has boosted the growth of the share of health care providers in appropriate care solutions. market. A growing number of hospitals and clinics around the world are expected to contribute to the growth of this sector.
Payers are expected to be the fastest growing segment in the forecast period. Agreeable government policies on reimbursement encourage taxpayers to use appropriate solutions to manage a wide range of services effectively such as the payment of applications and the timely payment of premiums.
Delivery Mode Insights
The cloud-based segment of the web dominated the global market for appropriate care solutions by 2021. IN recent times, owing to multiple advantages of web-based solutions comprising data management convenience, cost efficiency, and accessibility, web-based or cloud-based deployment is garnering the lime light.
North America dominated the global market for appropriate care solutions by 2021. The growing level of acceptance of automation and advanced digital solutions across North American health care units has led to market growth. The increase in the burden of disease, the increase in the number of older people, and the rising cost of health care and the growing need for efficient and effective care services have fuelled the need for appropriate care solutions in North America. According to the Population Reference Bureau, the number of people aged 65 and over is expected to reach 95 million in the US by 2060. market in North America.
Asia Pacific is estimated to be the fastest growing market during the forecast period. Asia Pacific is characterized by a large population, an increase in the number of older people, increased government investment in improved health infrastructure development, increased adoption of eHealth platforms, and rising spending on healthcare consumers are the most prominent factors leading to health growth. Asia Pacific Care Solutions Marketplace. The growing investment in the development of IT and communications infrastructure will have a significant impact on market growth in the coming years. Promotional activities undertaken by the government in countries such as India to use digital technology are expected to promote the adoption of eHealth forums between individuals and health care providers.
The ability of affordable health care while providing easy and focused patient care is increasingly being the first to go out. Increased focus on custom-based medicine and quality analysis and personal medicine is likely to provide greater market opportunities for responsive care solutions globally during forecasting.
Besides tremendous corporate participation in the form of M&A and product development, factors such as cloud-based operations to create new growth opportunities for the global accountable care solutions market in the coming years. These market players are expected to take advantage of the growing market demand for responsive care solutions around the world.
Increased EHR acceptance drives the Accountable Care Solutions market. Department of Health and Family Welfare has prioritized the establishment of Digital Health Information in Healthcare Security (DISHA) which operates in parliament as the official framework for the development or adoption of e-Health standards in the country.
Growing Concerns regarding Data Security Are Expected to Disrupt Market Growth
The number of health care violations in the US has increased by 55.1%, from 386 in 2019 to 599 by 2021. Fraud and other information technology cases account for 67.3% of data security violations by 2021, affecting more than 24.1 million people. In addition, the general healthcare provider took approximately 236 days to fully recover from the data breach and cost organizations more than $ 13.2 billion. The main reasons for the increase in the number of violations were the increase in the adoption of cloud-based systems in health care and the increase in remotely working conditions during violence by IT staff.
Proper care solutions should be more committed to maintaining the quality of health care and cost. The responsive care solution aims to integrate and deliver quality health care from physicians to hospitals to other medical professionals. In order to be effective, a responsible healthcare organization must ensure that quality health care and improved capacity are provided or not provided. Advances in hospital care delivery models, pathology and laboratory services, IT integration are furthering growth prospects for the global accountable care solutions space. Various factors such as cost effectiveness, quality, and healthcare evaluate appropriate care solutions.
The reluctance of end users to introduce new processes and a lack of internal IT skills may hinder accountable global care solutions.
Without the providers' reluctance to provide these solutions, the need to invest in infrastructure, the lack of patient involvement, and the low utilization of online solutions hamper the growth rate of the market. In addition, the lack of communication and data security issues related to cloud solutions are some of the factors holding back the market for responsive care solutions around the world.
Some of the major players working in the Accountable Care solutions market are Aetna, Inc., Allscripts Healthcare Solutions, Cerner Corporation, ClinicalWorks, Inc., Epic Systems Corporation, IBM Corporation, McKesson Corporation, NextGen Healthcare, Optum, Inc., UnitedHealth Group, Inc., Verisk Health, and Zeomega, Inc.,
Adoption of the latest technology in the accountable care solutions is the new opportunity.
The introduction of various technologies such as artificial intelligence, data analytics, internet of medical equipment, internet, and cloud computing are expected to provide a variety of growth options for market players. The integration of these technologies can dramatically change the process and increase efficiency and reduce operating costs.
• In November 2019, NextGen Healthcare announced the discovery of Medfusion. With this discovery, the company aims to provide better information to healthcare consumers, especially in the ambulance platform, to strengthen its portfolio.
• In July 2019, a partnership between Epic Health Services and Connected Care brought a few changes to health care organizations. These companies have been involved in compiling genomic data and speculation models based on Al to improve hospital and clinical service quality.
Accountable Care Solutions Market Scope
|Revenue forecast in 2032
|USD 53.37 billion
|CAGR of 10.83 % during 2022-2032
|By Product, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Cerner Corporation, IBM Corporation, Aetna, Inc., Mckesson Corporation, Allscripts Healthcare Solutions, Inc., UnitedHealth Group, EPIC Systems Corporation, Verisk Health, Inc., Zeomega Inc., Eclinicalworks, LLC.
Key Segments of the Accountable Care Solutions Market
- Healthcare Payer Solutions
- Payment Management Solutions
- Claim Management Solutions
- Provider Network Management Solutions
- Healthcare Provider Solutions
- Healthcare Analytics
- Healthcare Information Exchange
- Population Health Management
- Revenue Cycle Management
- Care Management Solutions
- Patient Engagement Solutions
- Support and Maintenance
By Delivery Mode
- Web & Cloud-Based Delivery Mode
- On-Premise Delivery Mode
- Healthcare Providers
- Healthcare Payers