The Global Healthcare Education Solutions Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Healthcare Provider Network Management Market is segmented by Component (Services and Software); Delivery Mode (On-premises and Cloud-based); End-user (Private Payers and Public Payers); Geography (North America, Europe, APAC and ROW).
Introduction
Healthcare Provider Network Management effectively and efficiently helps health plans and payers improve provider network management using a modular platform for contracting, service inquiry, documentation, and data management. Facilities and solutions are being mastered through the use of cloud computing, big data analytics, and advanced
communication and networking to address the prevalent challenges within the industry.
They mainly optimum financial results, process claims with more accuracy (which reduces errors and cost), and improve provider satisfaction. A healthcare provider network includes doctors, hospitals, and other healthcare providers such as nurses, therapists, practitioners, and clinicians that are a part of the health insurance plan
The COVID-19 pandemic has severely impacted healthcare industry. But the effective management by market provider have helped to avail effective and efficient treatment procedures for the patients amid the situation and this trend is expected to continue till the end of 2021.
Table of Contents
Market Overview
The global healthcare provider network management market is expected to have incremental growth of $4,372.70 million during 2020-2025
Growth momentum is expected to accelerate during the forecast period with an 18.72% CAGR.
The growing focus on improving the quality of care through the effective use of payer reporting requirements, the need to curtail escalating healthcare costs, and the in-house shortage of skilled personnel are driving the market demand.
North America is dominating due to the rapid adoption of advanced technologies in the US as well as Canada.
Key Trends
Increasing adoption of adaptive learning and cloud-based healthcare solutions across the healthcare ecosystem is expected to drive the market in future
Remote monitoring and growing focus on consumer-centric mobility solutions
Innovative data analytics in IT provide benefits to payers which is expected to drive the market in future
Key Market Players
Some of the key players in the market are Optum, Cognizant, Change Healthcare, Ayasdi, Genpact, Infosys BPM.
The market is highly competitive owing to the rise in demand for healthcare provider network management solutions coupled with technological advancements, which is likely to boost the entry of new companies. Mergers & acquisitions, strategic alliances, and extensive R&D in the area of Health technologies are some of the initiatives being undertaken by key companies to increase their market shares.
Growth Drivers and Challenges
Implementation of stringent federal mandates in the US is driving the market demand
Adoption of healthcare provider network management on the rise with increasing focus on patient care delivery
Growing focus on improving effective use of payer reporting requirements is driving the market
Robust penetration of 3G and 4G networks for uninterrupted healthcare services.
High cost of deployment is majorly constraining the growth of the healthcare provider network management market.
Reluctance of users to migrate from legacy systems is challenging the market
Unreliable infrastructure in most developing countries is expected to restrain the growth of the market