Healthcare Claims Management Market – Outlook
The Global Healthcare Claims Management Market is expected to exhibit a strong 5.37% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). Major players in the global healthcare claims management market are profiled in the report in order to provide readers with a detailed view of the market, including the successful strategies used by leading players in the market. Major drivers and restraints of the healthcare claims management market are also described in the report in great detail, including information on the macroeconomic factors working in the background.
Healthcare claims management includes billing, filing, updating, and processing of medical claims. This includes diagnostic treatments as well as treatments and medication. The growing scope of the healthcare sector worldwide has resulted in a growing demand for effective healthcare claims management software. The increasing accessibility of the healthcare sector for the general public and the increasing demand from governmental and regulatory bodies to maintain strict standards in maintaining healthcare records have resulted in a growing need for efficient healthcare claims management systems that can process an increasing volume of healthcare claims with reliable accuracy. This has led to a growing number of digital technology players entering the healthcare claims management market, as the demand for effective, secure software development is high in the market. The growing number of software companies making an effort to make a mark in the healthcare claims management market is likely to be a key feature of the market in the coming years.
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Data security and privacy protection are likely to remain important themes for the healthcare claims management market in the coming years. As the usage of digital data management technology has increased in the healthcare sector, the number of agencies trying to breach the walls and acquire confidential patient information has also grown. An increasing number of data breaches have hit the healthcare sector in recent years, leading to widespread concern among regulatory bodies and patients. Growing demand for secure data management platforms is likely to be a key driver for the global healthcare claims management market over the forecast period.
Competitive Analysis –
The top vendors within the worldwide healthcare claims management market are IBM Corporation (US), Athenahealth (US), Optum, Inc. (US), Accenture Plc. (Ireland), eClinicalWorks (US), Allscripts Healthcare Solutions, Inc. (US), McKesson Corporation (US), nThrive (US), Oracle Corporation (US), Genpact Limited (US), Infor Inc. (US), Conifer Health Solutions (US), Avaya Inc. (USA), Cerner Corporation (US), Cognizant Technology Solutions Corporation (US), among others.
In September 2019, the United Claim Solutions family of companies announced that the wide range of healthcare companies operating under the family will now operate under the unified brand name of Valenz, providing users with a comfortable, unified experience.
Regional Analysis –
Asia Pacific, Europe, North America, and the Rest-of-the-World are among the prominent regions where the global healthcare claims management market is set to expand in the near future.
The North America heads the global healthcare claims management market, backed by the sophisticated healthcare industry and favorable government policies. Also, the growing adoption of claim management solutions to avail growth in incentives is expected to stimulate the market growth in the region. In addition to this, the increasing investments within healthcare information technology (HCIT) combined with the presence of regulatory mandates encouraging the use of healthcare claims management solutions also lays a strong foundation for the market. The United States (US) and Canada are among the most profitable countries within the region, successfully implementing healthcare IT, as a result of which the regional market has advanced to considerable heights in recent years. Furthermore, surge in favorable government initiatives, regulatory framework, and innovations in this field have driven the market expansion to a large extent.
Europe has bagged the second position in the global healthcare claims management market, owing to the increase in digitization in conjunction with the rising focus on data integration as well as data governance for the elevated number of claims within the healthcare industry.
Asia Pacific is likely to be the fastest growing regional market for healthcare claims management systems due to the growing geriatric population and increasing demand for data security in healthcare reimbursement schemes.
Segments –
MRFR has segmented its analysis into five key dynamics for enhanced understanding.
By Component: Software and Services among others.
By Delivery Mode: On-premise and Cloud-based among others.
By Type: Integrated and Standalone among others.
By End-user: Healthcare Payers and Providers among others.
By Regions: North America, Europe, Asia Pacific, and Rest-of-the-World.
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