Global Population Health Management (PHM) Market Overview:
Global Population Health Management (PHM) Market is a comprehensive approach that aims to improve the health outcomes of entire populations. It involves the integration and coordination of healthcare services, public health initiatives, and social determinants of health to address the overall well-being of communities. The goal of PHM is to optimize health outcomes by focusing on preventive care, chronic disease management, and reducing health disparities across different population groups.
Market Trends:
Change the Healthcare Industry from a Fee-For-Service (FFS) to a Value-Based Payment (VBP) Model to Speed Up the Market
The transition in the healthcare industry from fee-for-service (FFS) to value-based payment (VBP) has been essential to the increased uptake of population health management. This is mostly due to the fact that companies that efficiently combine data and analyze the resulting population health data can enhance care coordination and management. By doing this, these healthcare organizations and enterprises are able to increase their revenue growth, which in turn fuels the expansion of the global market. Value-based payment is replacing traditional fee-for-service (FFS) reimbursement (VBP). Using this method, doctors request payment from insurance companies based on the total quality of treatment they offer, including clinical outcomes. A comprehensive approach to care is taken by value-based care models, which necessitates collaboration and communication between physicians in a range of specializations. Population health management effectively enables this. During the forecast period, this is anticipated to further fuel the market's growth for population health management.
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Market Drives Factors:
The need for healthcare IT will be driven by the need for better clinical and financial outcomes for patients.
The growing need for better patient outcomes, including favorable therapeutic and financial outcomes, is one of the main reasons propelling the population health management market. Medical professionals can obtain aggregated patient data from a variety of medical disciplines by using population health management technologies. Because of this, practitioners are able to make more educated clinical judgments, which improves treatment results and lowers treatment costs for patients. This is particularly true in the current situation, where individuals have a variety of long-term illnesses, including diabetes and heart disease. Due to these reasons, industry participants are always focused on innovating and launching new population health management software and solutions. The healthcare organizations are able to provide patients with customized care because to the software and services they provide, which also helps them save more money overall.
Growing Demand for Population Health Management Combined with Technological Advancements in Healthcare IT
The accuracy and efficacy of population health management programs have increased as a result of technology developments in healthcare IT. Because of this, they are becoming more often used for a variety of healthcare requirements, such as the compilation of data from multiple sources. The Centers for Disease Control and Prevention (CDC) estimate that 1 in 6 adults in the US have at least one chronic illness, and 1 in 4 have more than one chronic illness. This emphasizes how vital it is to implement efficient community health management initiatives in order to enhance patient outcomes. Further contributing to this are increased technological developments in electronic health records (EHR), analytics, blockchain technology, and better population education.
Market Opportunities:
Growing Technological Progress in Healthcare Promotes PHM Solution Adoption
Technological advancements including wearables, telemedicine platforms, electronic health records (EHRs), and advanced data analytics tools offer the capabilities and infrastructure required for a successful PHM deployment. Large-scale healthcare data can now be collected, integrated, and analyzed with ease thanks to these technologies, which also make risk assessment, patient segmentation, and tailored therapies easier. The market adoption of PHM solutions is being pushed by developments in healthcare technology, which enable healthcare organizations to take use of data-driven insights and digital technologies to optimize care delivery, improve outcomes, and cut costs.
PHM Solutions are being implemented in healthcare organizations as a result of growing government initiatives.
Government initiatives that focus population health improvement and value-based care delivery include the Affordable Care Act (ACA) in the United States and comparable changes implemented elsewhere. PHM systems are essential for efficiently tracking and managing patient populations since regulations frequently require healthcare organizations to fulfill particular quality criteria and demonstrate population health outcomes. By offering financial assistance and resources for the adoption and innovation of population health management methods, government financing and incentives for healthcare institutions to use PHM solutions further stimulate market growth.
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Market Segmentations:
Market: Through Component Analysis
The Population Health Management (PHM) Market is segmented into two categories: software and services. In 2024, the Services section will hold the highest share, approximately 59%.
by Mode of Delivery
- Web-based
- On Premise
- Cloud -Based
by End Users
- Healthcare Providers
- Healthcare Payers
- Government bodies
Market Regional Analysis:
Forecast for the North American Market
With a market share of more than 48%, North America leads the Population Health Management (PHM) industry and generates the most revenue. Healthcare reforms like the Affordable Care Act (ACA), which prioritizes preventative care and provides incentives for population health management (PHM) through accountable care organizations (ACOs), are the primary drivers of the PHM market in North America.
Market Statistics for Europe
PHM solutions that help improve care coordination and manage chronic diseases are becoming more and more necessary in Europe as the population ages. By making investments in digital health technologies, governments encourage the adoption of PHM with the goal of advancing value-based care models and modernizing healthcare delivery.
Forecasts for the Asia-Pacific Market
Over the course of the forecast period, the Population Health Management (PHM) market is anticipated to develop at the quickest rate in Asia Pacific. The PHM market is expanding in the Asia-Pacific area as a result of rising healthcare costs brought on by aging populations and economic expansion.
Top Leading Key Companies Involved in this market are:
- Deloitte Touche Tohmatsu Limited
- GE Healthcare (General Electric Company)
- International Business Machines Corporation (IBM)
- Cerner Corporation
- Koninklijke Philips N.V.
- Allscripts Healthcare, LLC
- McKesson Corporation
- UnitedHealth Group
- Medecision
- Others
Commonly Asked Questions?
- What are the global population health management market's emerging trends?
- What segment of the population health management market is in the lead?
- In terms of population health management, where is the biggest regional market?
- How big is the population health management industry anticipated to be?
- For Population Health Management, what is the base year taken into account?
- Question
- How long is the Population Health Management analysis period?
- Which businesses dominate the population health management market share?
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