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Population Health Management (PHM) refers to the gathering and analysis of data on segments of patient population and managing specific diseases in that population. Both analysis and action are part of population health management. It's an approach to uncover gaps in health care facilities and filling those gaps which leads to the various benefits for patients such as - aligning physicians, coordinating care improving outcomes, and raise revenue and efficiency. The global population health management market is growing with a CAGR of around 25% during the forecast period 2016-2023. The key trend of population health management market is the expansion of predictive analytics. These days healthcare providers are realizing the high use of real-time predictive analytics due to the benefits it offers. It includes enhancing quality of care, provide decision support, assist in avoiding readmissions and minimizes patient’s medical and financial risk. Usually care providers get their data through their business intelligence, financial, and EHR/clinical systems, but producing accurate predictions through processing of data processing is a difficult task. This can be best done by using predictive analytics solutions and platforms. The IT innovators offer intuitive, effective and integrated predictive platforms to their relevant customers. For example, Medictiv is a predictive analytical solution by Citius tech’s. It is an end-to-end suite of services and analytical tools and supports, payers, health systems, life sciences companies and ACOs in gripping their data assets to get accurate and effective insights.
The population health management market is primarily driven by executions of the Affordable Care act in the United States, act isregarding medical insurance coverage and providing better medical services such as emergency services, hospitalization, preventive and wellness care, care management and habilitative and rehabilitative services to assist patients’ to recover. Support of government for the prevention of diseases and adoption of healthcare it, and advancement in IT and big data capabilities. The key driver influencing the population health management market is advancement in healthcare IT and big data capabilities. However, issues related to the safety of patient information and unwillingness to migrate from legacy systems is hindering the growth of the wireless health care market. The rising focus towards value-based medicine, high market potential in emerging economies are the key opportunities which leads to the better prospects of the global population health management market.
Source: OBRC Analysis
The report on global population health management market includes components, mode of delivery, application and end users.
Component is segmented into:
Mode of delivery is segmented into:
Application is segmented into:
End-user is segmented into:
The revenue for the above industrial end users are specific to the population health management market. However, the total revenue of these end-user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up component segment.
The global population health management market report has been geographically segmented in:
Geographically North America is expected to account for the largest share of the population health management market in 2016. It is due to the increase in costs of healthcare, rise geriatric population and the execution of the Affordable Care Act (ACA). Moreover, the high prevalence of chronic diseases, increasing healthcare spending, and the enactment of the population health approach by the Canadian government are driving the population health management market in Canada. The Asia-Pacific region is anticipated to grow at the high CAGR during the forecast period 2016-2023. It is due to the growing medical tourism digitization in health care system and growing healthcare industry in Asian regions like India. The enforcement of PHM programs to enhance population health management is driving the market in Australia.
Global population health management market report covers segmentation analysis of component, mode of delivery, application and end-user. Report further covers segments of component type which includes hardware, software and services. The software segment is anticipated to be the largest share in the global market in 2016 due to rising adoption of healthcare IT solutions and increasing need for upgrading the existing software. On the basis of mode of delivery, it is divided into 4 segments which include web based, cloud based, on premise based and mobile based. The end-user segment comprises of three sub segments which includes healthcare providers, healthcare payers and government bodies and employer groups. The application segment is divided into. patient outreach, hospital readmission reduction, increased patient wellbeing and engagement, no-show rate reduction and Automating Patient-Centered Medical Home (PCMH).
The major market players of the global population health management market are:
These companies are using various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, merger & acquisition is the key strategy adopted by the companies in the population health management market.
For Example; in 2016 Philips had acquired Wellcentive of United States which is a leading provider of population health management software solutions. The strategic acquisition of Wellcentive had strengthened Philips population health management business and their leadership because these days health systems are shifting towards value-based care from volume. It also offers more chronic and preventive care services outside the hospital. The Wellcentive company is focused towards offering financial, data-driven clinical and human outcomes to their customers. Moreover, Wellcentive has been delivering care management for more than 30 million patients across the world.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in population health management market.
Key reason to buy the report:
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global population health management market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the population health management market, with giving extensive SCOT analysis of key companies.
Key findings of the global population health management market: