The Population Health Management Solution helps manage patient health records, identify individuals at risk of developing chronic diseases, prevent diseases, reduce readmissions and reduce healthcare costs. It collects clinical and non-clinical data from multiple sources and analyses this data to improve patient outcomes.
The global Population Health Management Solution Market is estimated to be valued at US$ 32.89 Bn or billion in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend in the Population Health Management Solution Market is growing adoption of value-based care which is pushing organizations to shift from fee-for-service to population health management approach. Population health management solutions help providers transition to value-based models by identifying high-risk, high-cost patient populations and coordinating care. Another key trend is growing integration of AI and advanced analytics which is helping players offer more personalized and predictive solutions. AI is being utilized for risk stratification, predictive modeling, personalized interventions and automation of workflows. Growing focus on reducing healthcare costs through preventive care and emphasis on value over volume is also driving the demand for population health management solutions globally.
SWOT Analysis
Strength: Population health management solutions provide actionable insights and predictive analytics to healthcare organizations which helps them enhance patient care and clinical outcomes. Such insights also help in reducing medical costs by improving clinical quality and coordination of care.
Weakness: High upfront costs associated with deployment and maintenance of population health management solutions. Limited access to patients’ historical health records and a lack of integration with existing clinical systems also poses challenges.
Opportunity: Growing geriatric population and rising prevalence of chronic diseases are driving the need for improved healthcare management systems. Increasing focus on value-based care also presents an opportunity for vendors to offer advanced population health management solutions.
Threats: Data privacy and security concerns related to handling sensitive patient information. Competition from in-house healthcare IT solutions developed by hospitals and insurers can also pose a threat.
Key Takeaways
The global Population Health Management Solution Market is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing focus on value-based reimbursements and demand for data-driven healthcare.
Regional analysis: North America dominates the global population health management solutions market currently due to widespread adoption of EHR/EMR systems and favorable government policies surrounding healthcare IT in the region. Asia Pacific is expected to exhibit the highest CAGR during the forecast period supported by growing medical tourism, increasing healthcare spending, and regional expansions of key market players in countries such as China and India.
Key players operating in the Population Health Management Solution market are Allscripts Healthcare, LLC (U.S.), Oracle Corporation (U.S.), Deloitte Tohmatsu LLC (U.K.), Epic Systems Corporation (U.S.), Conifer Health Solutions, LLC. (U.S.), GE Healthcare (U.S.), The International Business Machines Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), i2i Population Health (U.S.), McKesson Corporation (U.S.), Medecision (U.S.), Health Catalyst (U.S.), and UnitedHealth Group (U.S.). These companies are focused on enhancing their product/service offerings through partnerships and acquisitions to further strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it