Medical Second Opinion Market Revenue Models, Outlook 2029

Market Overview
Medical Second Opinion Market is expected to grow at a CAGR of 13.70% during the forecasting period (2022-2029).

A medical second opinion is a decision-support tool for ratifying or modifying a suggested treatment by another physician. A medical second opinion may critically influence the diagnosis, treatment, and prognosis. The patient can benefit from treatment optimization and avoid unnecessary risks. Physicians can benefit from less exposure to legal claims, and healthcare organizations can benefit from increased treatment, quality assurance, and cost-saving from unnecessary surgery and treatments. Nevertheless, the injudicious use of this tool can provoke unnecessary medical costs.

Download Free Sample: https://www.datamintelligence.com/download-sample/medical-second-opinion-market

Market Dynamics:
The increasing need for improved diagnosis drives the growth of the global medical second opinion market.
Most people experience at least one diagnostic error in their lifetime, and sometimes these errors lead to devastating consequences. According to a report by the National Academy of Medicine, it is estimated that 5% of U.S. adults who seek outpatient care each year experience a diagnostic error.
Postmortem examination research over decades shows that diagnostic errors contribute to approximately 10% of patient deaths. Medical record reviews suggest that diagnostic errors account for 6% to 17% of hospital adverse events.

Moreover, diagnostic errors are the leading type of paid medical malpractice claims and are almost twice as likely to have resulted in the patient's death compared to other claims.

According to Mayo Clinic, more than 20% of patients who sought a second opinion had initially been misdiagnosed by their primary care providers. Only 12% had their cases correctly diagnosed initially; the rest of the diagnoses differed in some aspect. In 21% of patient cases, the second opinion indicated a "distinctly different" diagnosis from the first diagnosis. In 67% of cases, the diagnoses were partly correct but "better defined/refined" by a second opinion.

Treatment choices that patients usually go for are determined largely by local medical opinions concerning the value of surgery or its alternative. Health outcomes are threatened when doctors prescribe a treatment like a certain surgery for chronic back pain. There is no evidence proving positive long-term outcomes, and a less expensive treatment option, like physical therapy, is available. A medical second opinion can avoid many unnecessary surgeries that are claimed to have led to thousands of avoidable deaths. These unnecessary treatment options led to billions on the government, which can be avoided in my medical second opinion.

View Full Report: https://www.datamintelligence.com/research-report/medical-second-opinion-market

Market Segmentation:
By Disorder
• Cancer
• Diabetes
• Cardiac Disorders
• Neurological Disorders
By Service Provider
• Hospitals
• Medical Second Opinion Providing Companies
• Health Insurance Companies

Major Companies:
WorldCare Inc, Cynergy Care, AXA PPP Healthcare, Cleveland Clinic, Helsana Group, Teladoc Health, GrandOpinion, Lybrate, Partners Healthcare, Grand Rounds Inc.

Trending Topics
https://www.datamintelligence.com/research-report/blockchain-in-healthcare-market
https://www.datamintelligence.com/research-report/north-america-medical-second-opinion-market
https://www.datamintelligence.com/research-report/nlp-in-healthcare-and-life-sciences-market

DataM Intelligence 4market Research LLP
Ground floor, DSL Abacus IT Park,
Industrial Development Area, Uppal,
Hyderabad, Telangana 500039

DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to the needs of clients in key business areas. DataM Intelligence has an online platform whose coverage includes industries such as chemicals and materials, agriculture, health care services, animal feed, and food & beverages, among others. Our platform has Insights on markets that uncover the latest market research data that are distinct from the competition. With coverage across 10 major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporates ease access and custom personalization to research and markets.

This release was published on openPR.