Population Health Management Solution Market: Infrastructure Growth and Development 2018 to 2026 With Top Players Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, OptumHealth, Epic Corporation

Population health management solution aggregates all the data from different healthcare platform (Diagnostics, Pharmacy, and Billing Department in healthcare facility) related to the patient. The data is analyzed and presented in comprehensive actionable form to healthcare providers for efficient clinical outcome and save overall healthcare cost. Population healthcare management tracks individuals amongst vast group of patients by applying business intelligence tools to different set of data and create single document, which is easy to analyze and clinical decision can be taken over same by each member across the healthcare ecosystem.

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Population healthcare management provides various advantages. It improves quality of healthcare due to comprehensive picture provided by collection of multiple data points on one platform with better tracking of patient. Pharmaceutical healthcare management solutions saves unnecessary healthcare cost. Also, it allows better clinical management in case of chronic disease using information technology based approaches. Healthcare management allows the healthcare provider to fill the healthcare gap i.e. lack of coordinated effort amongst stakeholder in health care, lack of effective patient monitoring etc. This is gap can be filled by promoting real time data access and monitoring. This can be done by monitoring diagnostic data, prescription data, billing data and other health care data, which can be assessed and addressed in case of care gap. For healthcare insurer, population healthcare management allows the value-based reimbursement rather than simple payment transfer and helps in business decision making process. Overall PHM promotes better health for population and reduces hospital admissions.

Market Dynamics

Population healthcare management market is projected to witness upward growth during the forecast period due to increasing prevalence of chronic disease worldwide. Chronic disease such as cancer, cardiovascular disease, diabetes, asthma (chronic lung disease) account for the major healthcare burden annually. According to World Health Organization data in 2017, around 40 million people die each year due to chronic disease, which accounts for 70% of all deaths globally. Cardiovascular diseases is responsible for 17.7 million death annually, followed by cancers (8.8 million deaths), respiratory diseases (3.9million deaths), and diabetes (1.6 million deaths). Population healthcare management solutions provides better clinical management of this disease.

Increasing number of geriatric population worldwide is expected to further propel growth of population healthcare management solutions. According to population Prospect report by United Nations in 2017, an estimated 962 million people were aged 60 or above in the world, which accounted for 13% of the global population, by 2030 number of older people in the world is projected to be 1.4 billion, which is growing at annual rate of 3%. Increasing healthcare cost is projected to drive growth of population health management market. Advancement in big data analytics are expected to fuel growth of population health management, owing to ease in management of vast data with precision in quality healthcare to individual.

Competitive Landscape

Some of the key players operating in the population health management solution market include Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, OptumHealth, Epic Corporation, Inc., Philips Wellcentive, eClinicalWorks, Health Catalyst, LLC, IBM Corporation, i2i Population Health, Verscend Technologies, Inc., Caradigm, and Care Evolution.

Key players are adopting growth strategies such as mergers and acquisitions activity in order to improve the market footprint. For instance, in August 2017, Allscripts announced to acquire McKesson Corporation’s hospital and health system IT business and Enterprise Information Solutions for US$ 185 million in cash.

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Regional Insights

On the basis of Geography, population health management solution market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to lead the population health management system due to various reasons. U.S. currently has one of highest per capita expenditure on healthcare amounting US$ 9146 according to statistics given by World Economic Forum in 2016. This cost could be saved with the greater application of population health management solutions resulting in quality comprehensive care with reduces hospital admissions. This would also lower the burden on health care infrastructure with shortage of physicians and hospitals beds. Furthermore, increasing number of patients with chronic disease is another driver for growth of market. According to National Cancer Institute around 1,735,350 new cases of cancer would be diagnosed in the U.S. in 2018, cancer would cause around 609,640 death in same year.

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