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Healthcare Provider Network Management Market Worth USD 5.8 billion by 2025 : Focus on Employing Highly Advanced IT Technologies

02-10-2022 12:20 PM CET | Health & Medicine

Press release from: MarketsandMarkets

Healthcare Provider Network Management Market

Healthcare Provider Network Management Market

This report aims to provide detailed insights into the global healthcare provider network management market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Revenue Growth Analysis:

The global healthcare provider network management market is expected to reach USD 5.8 billion by 2025 from USD 2.9 billion in 2020, at a CAGR of 14.9%

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Key Factors Driving Market Growth:

The implementation of stringent federal mandates in the US, the growing focus on improving the quality of care through the effective use of payer reporting requirements, the need to curtail escalating healthcare costs, and the in-house shortage of skilled personnel are the key drivers of the healthcare provider network management market growth. Rising patient population worldwide and subsequent increase in the burden on healthcare systems will further upsurge the demand for healthcare provider network management solutions.

The healthcare provider network management market includes Tier I and II vendors like Cognizant, Optum, Genpact, Infosys, Atos, and among others. The companies have a large market spread across various countries in North America, Europe, Asia Pacific and Rest of the World. The global COVID-19 outbreak has positively impacted the business to a certain extent. Companies are opting for provider network management infrastructure, as it helps to manage providers’ networks with greater efficiency, processes claims with greater accuracy, and reduces costs and errors while lowering the burden on providers, especially in these times of pandemic.

Services segment is anticipated to be the fastest growing segment during the forecast period

The market is segmented into services and software, based on the component. The services segment is estimated to command the largest share of the market in 2020, and is projected to register the highest CAGR during the forecast period. Factors such as the reduction in costs, improvement in claims auto adjudication rates, and improvements in operational efficiencies are expected to trigger the demand for provider network management services in the coming years.

Cloud-based delivery mode is projected to grow at the highest CAGR during the forecast period

The healthcare provider network management market is segmented into on-premise delivery mode and cloud-based delivery mode. The cloud-based delivery mode is expected to show high growth rate during the forecast period. The major factors driving the growth of the cloud-based solutions market are comparatively lower capital expenses and operational costs incurred alongside better scalability, flexibility, and affordability.

The Asia Pacific Healthcare provider network management services market to grow at the highest CAGR during the forecast period

While North America is expected to dominate the global healthcare provider network management market in 2020, followed by Europe, the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high regional growth is attributed to the various factors such as the evolution of the healthcare ecosystem, growing burden on the healthcare industry, and increasing government initiatives for HCIT adoption in the region are supporting the growth of the healthcare provider network management market in this region.

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The major players operating in the healthcare provider network management services market include Cognizant (US), Ayasdi, Inc. (US), Change Healthcare (US), Optum, Inc. (US), Genpact Limited (US), Infosys BPM Ltd. (India), Atos Syntel, Inc. (France), Mphasis, Ltd. (India), SKYGEN USA (US), Evolent Health, Inc. (US), OSP Labs (US), HGS Ltd. (India), Virtusa Corp. (US), EXL (US), Vee Technologies (US), symplr (US), Appian (US), Inovalon (US), Wipro Limited (India), and Virsys12, LLC (US).

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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