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COVID 19 OUTBREAK IMPACT ANALYSIS POPULATION HEALTH MANAGEMENT MARKET
Population Health Management Market: OverviewPopulation health management (PHM) is a system where individuals are classified in groups. These practice is usually observed in healthcare sector, pharmaceutical industry, and insurance sector. The health management system aids to maintain and improve health conditions of different groups.
Population health management is a patient friendly platform, which supports in regulating the treatment costs by providing options of cost-effective alternative options.
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Further, the platform enables service providers and payers in risk management associated with reimbursement policies. In recent few years, healthcare system has evolved to a great extent and turned out to be patient centric.
Population health management reduces risk stratification, and eases patient communication, data aggregation, and care coordination. As a whole, patient care system has improved.
Hence, use of population health management system has increased exponentially.
As per a report published by Transparency Market Research on Population Health Management Market, it is estimated that the market will chart a lucrative CAGR of 16.1% between 2017 and 2025 (forecast period). In the year 2016, the market stood at a value equivalent to US$ 18,500.0 Mn. At the predicted CAGR, the market value is anticipated to grow equivalent to US $ 69,000 mn by the end of the forecast period.
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Integration of IT Solution with Population Health Management System Has Boosted Market Growth
Further, application of population health management (PHM) system is aiding to improve both clinical care and revenue generation. Thus, care providers are extensively adopting the system. In addition, there are various tools available, each having different functions in diverse care settings. These tools help in data collection and aids to leverage healthcare finances for patient and payers including insurers.
Penetration of IT solutions especially in business intelligence solutions and data analytics have been the key factors for advancement in the population health management market. Integration of IT solution enable car provider to monitor patients remotely, data collection, and data storage. These factors are likely to boost expansion of the global population health management market.
Moreover, growing awareness regarding benefits of personalized medicine is projected to provide significant growth opportunities for the players operating in the market during forecast period.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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