Referral Management Market is projected to reach USD 23.1 billion by 2032 , Development Data, Growth Analysis & Forecast 2022 to 2028 -Allscripts Healthcare, Cerner Corporation, Ehealth Technologies, Mckesson, The Advisory Board Company, Kyruus, Persisten

The referral management market is projected to reach USD 23.1 billion by 2032 from USD 4.23 billion in 2022, at a CAGR of 13.6%. Growth in the referral management market can be attributed to factors such as technological advancements in healthcare facilities and rising adoption of referral management solutions by healthcare providers to offer better care delivery.

Some of the Top companies Influencing this Market include:

Allscripts Healthcare, Cerner Corporation, Ehealth Technologies, Mckesson, The Advisory Board Company, Kyruus, Persistent Systems, ReferralMD, Harris Corporation, Eceptionist, Clarity Health

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Referral Management Market Types:

Self-referral, Professional-referral, Third party-referral.

Referral Management Market Applications:

Hospitals, Clinics, Others

Referral Management Market Dynamics
Government initiatives to incorporate IT solutions in healthcare systems
Governments across variouscountries are focusing their efforts on promoting healthcare IT solutions for the optimization of healthcare productivity and reduction of costs. Governments across the world are working with healthcare providers to accelerate seamless data exchange between healthcare systems to coordinate care effectively and reduce avoidable costs. For instance, In 2020, the Argentine Ministry of Health built a national digital health network, which would allow care centers to access patient data more securely through a standardized integration process, for which it adopted Red Hat container, integration, and automation solutions.

Dearth of skilled healthcare IT professionals
The unavailability of adequate IT staff in the healthcare industry, especially among healthcare providers, leads to gaps in program implementation. The effective utilization of technology-integrated solutions requires strong IT infrastructure and support within the organization as well as at the solution provider's end. There is a continuous requirement for technical support for maintaining the server and network in the healthcare organizations. The shortage of in-house IT experts, and a trained workforce with cross-functional skills, is expected to restrain the growth of this market during the forecast period.

Software segment accounted for the largest share of the global referral management for component"
Based on the component, the referral management market is bifurcated into software and services. The software segment that includes integrated and standalone software, accounted for the largest share of the referral management market in 2021 also expected to grow at the highest CAGR from 2022 to 2027. Increased use of integrated or standalone referral management software in various healthcare facilities for improving efficiency and quality of medical care delivery systems are some of the key factors for the market growth of this segment.

"The cloud-based mode of delivery segment is expected to hold the largest share of the referral management market in 2022"
Based on mode of delivery, the referral management market is bifurcated into cloud-based and on-premise solutions. The cloud-based segment is expected to hold the largest share of the referral management market in 2022. The high growth rate of this segment can be attributed to the increase in demand for cloud-based solutions owing to its benefits including on-demand self-serving analytics, no up-front capital investment for hardware, and extreme capacity flexibility among others.

"Inbound referrals segment accounted for the largest market share in 2021"
Based on type, the global referral management market is bifurcated into inbound and outbound referrals. The inbound type segment accounted the largest share of the market in 2021. High volume of inbound referrals received by hospitals and specialist centres from multiple channels are the factors driving the growth of this segment.

"Providers segment in the end users accounted for the largest and the fastest share of the referral management market"
Based on end user, the market is bifurcated into providers, payers, and others. In 2021, providers segment accounted for the largest and the fastest share of the referral management market. The demand for referral management among healthcare providers is primarily driven by the expanding focus on streamlining patient referral process and enabling seamless communication throughout the process.

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Recent Developments
In 2022, eHealth Technologies partnered with N1X10 to empower cancer patients to retrieve and transform massive amounts of medical data to overcome the limitations of standard care.
In 2022, ReferWell partnered with NexHealth to make it easier for physicians to schedule patient referral appointments at the point of care and increase show rates at these specialist visits.
In 2021, Cloudmed acquired par8o. This acquisition progresses the capabilities of Cloudmed's 340B Discovery Services and elevates its CloudmedAI platform with par8o's sophisticated machine learning technology.
In 2020, Blockit (US) partnered with One Touch Telehealth (US) to offer telehealth solutions in its existing infrastructure

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Global Referral Management Market Scope and Market Size
Referral management market is segmented on the basis of type, delivery mode, component and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

Based on type, the referral management market is segmented into self-referral, professional-referral and third party-referral.
Based on delivery mode, the referral management market is segmented into web-based delivery mode, cloud-based delivery mode and on-premise delivery mode.
On the basis of component, the referral management market is segmented into software, standalone software, integrated software, services, consulting services, implementation services and post-sale and maintenance services.
Referral management market has also been segmented based on the end user into providers, patients, payers and others.
Referral Management Market Country Level Analysis
Referral management market is analyzed and market size insights and trends are provided by country, type, delivery mode, component and end user as referenced above.

The countries covered in the referral management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2020 to 2027 due to growing demand for quality care at affordable costs, increasing geriatric population along with succeeding increase in the prevalence of various chronic diseases in this particular region.

The country section of the referral management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

The massive outbreak of the COVID-19 pandemic has mercilessly taken a lot of lives as well as hampered the overall rate of market growth excessively. Hence, in this condition, the market experts must take the charge of formulating some efficient ideas to get rid of this prevailing situation and maintain a substantial rate of Referral Management Market growth.

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