Market Overview –
A CAGR of 16.6 percent is predicte for the global accountable care solutions market from 2016 to 2021, growing from USD 8.75 billion to USD 18.85 billion. Accountable care services are largely responsible for regulating both the quality and the cost of healthcare. Coordinating and delivering high-quality healthcare from doctors to hospitals and other practitioners are the goals of accountable services. A commercially viable accountable care organization must determine whether or not high-quality healthcare and enhance proficiency are being provide.
There are other aspects that are handle by accountable healthcare services such as medical imaging, laboratory services and specialisations, hospitalisation and IT support. The quality, cost, and health of the general population must all be taken into consideration when providing accountable care services. As the world’s ageing population grows, so does the number of people suffering from chronic diseases. A patient-centers care environment is being foster by the government’s numerous plans and directives. Increasingly accountable care organisations are fueling the growth of the Global Responsible Care Solutions Market as well.
To get a piece of the emerging market pie, major corporations are competing. Increasingly, businesses are embracing cloud-base models, and this trend is expect to continue for some time to come.
COVID-19 Impact –
Over the last 18 months, virtually every industry on the planet has felt the pinch. As a result of various precautionary lockdowns and other restrictions impose by governing authorities around the world, their respective manufacturing and supply chain operations were severely disrupt. It’s the same for the global market for Accountable Care Solutions, too.
Since the general economic status of most people has been severely affect by this outbreak, consumer demand has also decrease as individuals are now more incline to eliminate non-essential expenses from their budgets. The global Accountable Care Solutions market’s revenue trajectory is expect to be negatively impacts by the above-mentioner factors during the forecast period. In light of this, the global market for Accountable Care Solutions is expect to rebound as governments begin to lift the restrictions impose on their citizens.
Market Dynamics –
Chronic diseases are expects to account for approximately three out of every four deaths worldwide by 2020. Cardiovascular diseases are to blame for more than half of all chronic disease deaths. Around 17.9 million people die each year as a result of cardiovascular disease, according to the World Health Organization (WHO). Also in 2020, there are expects to be 19.3 million new cancer cases and 10 million deaths from cancer. In 2040, the number of cases is expects to rise by 47% from its current level of 26.4 million. Because of this, there is an increasing need for Accountable Care solutions to treat the growing patient population efficiently and effectively.
Electronic Health Records (EHRs) are fueling the demand for Accountable Care Solutions. According to a report by the Pew Research Center, the percentage of Americans using this system is expect to rise from 12.2 percent in 2009 to 89 percent by 2020. Health information exchange systems (HER) in developing countries such as India are also gaining ground as a result of increase government initiatives. Draft legislation for the establishment of a statutory body for the promotion or adoption of electronic health standards was propose by the Ministry of Health & Family Welfare.
Major Market Developments –
McKesson Intelligence Hub, a new technology platform for enabling interoperability and sharing business intelligence among healthcare applications, was launches in September 2016 by McKesson. Automate reimbursement solutions and payment streamlining will be made easier for customers, partners, and vendors in the healthcare ecosystem as a result of this.
Aetna and Duke Health (US) and Wakames Health & Hospitals expand their accountable care partnership in August 2016. (U.S.).
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Quality, cost-effective care and improve population health management are two of the primary goals of this partnership.
McKesson purchase HealthQX in July of that year (U.S.). With the addition of HealthQX’s ClarityQx value-base payment technology solution, the company was able to broaden its value-base care offering.
Competitive Landscape –
Due to the presence of both domestic and international firms, the market for accountable care solutions is extremely competitive. Epic System Corporation, Cerner Corporation, Allscripts Healthcare Solutions Inc., United Group Inc., IBM Corporation, NextGen Healthcare, Optum Inc. and Zeomega Inc., Verisk Health, and Mckesson Corporation are a few of the major players contributing to the market’s expansion.
Product launches, acquisitions, and joint ventures are all contributing to the global expansion of the accountable care solutions market. As an illustration,
Key Players –
EPIC Systems Corporation
Allscripts Healthcare Solutions
Epic Systems Corporation
By Type –
By Applications –
By Regions –
Middle East and Africa