The Care Management Solutions Market To Witness Distilled Growth In The Next 10 Years
Increasing adoption of care management, rise in government expenditure in the healthcare sector, increasing demand for quality of care, and growing aging population are driving the global care management solutions market. In addition, increasing awareness among people for better healthcare is also driving market growth.
As per PMR’s report, the global care management solutions market generated a market revenue of US 12.2 Bn in 2019, and is expected to surge ahead at an astounding CAGR of 17% over the forecast period (2020-2030).
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Key Takeaways from Care Management Solutions Market Study
South Asia & Pacific is expected to create lucrative growth opportunities for players in the care management solutions market, due to rise in government spending on healthcare systems in the region.
Implementation of initiatives to shift the burden of risk from healthcare payers to providers is creating new growth opportunities for care management solution providers.
Key players in the market are focusing on acquisitions to complement their product portfolios to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.
With rapidly rising demand being witnessed from healthcare providers due to the COVID-19 outbreak, the global care management solutions market will greatly benefit in the long run.
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In the recent past, it has been observed that, healthcare organizations across the world are deploying care management solution platforms in order to improve patient care and reduce healthcare costs. This also helps promote healthcare IT technologies by providing standalone software / modules such as disease management and case management utilization management for caretakers and healthcare professionals.
For instance, in July 2020, Health Catalyst, Inc. launched new care management solutions named Care Management Suite for healthcare organizations. These tools and processes deliver visibility across the continuum of care for high-risk and at-risk populations, enabling the integration of multiple disparate data sources.
This facilitates more streamlined and patient-centric workflows to improve the quality of patient care, and reduce overall healthcare costs. Such developments will work well for the progress of the global care management solutions market in the years to come.
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