Value Based Care Payment Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

Value-based care is a payment model that rewards providers for providing high-quality care at lower costs. It demonstrates a significant bend in the cost curve as payers discover a positive impact of value-based care on scaling up payment models for patient care. Furthermore, value-based care payment models reduce costs while improving healthcare quality and outcomes. In value-based care models, healthcare providers are paid based on the outcomes of their patients' care.

According to the health payer intelligence survey 2018, nearly 80% of payers reported improvements in care quality from providers as a result of obtaining value-based settlements. Furthermore, 64% of payers reported improved provider relationships and 73% reported improved patient engagement with beneficiaries as a result of using value-based care. Thus, the adoption of value-based care and changing healthcare operations are expected to expand the market growth during the forecast period.

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COVID-19 scenario analysis

In 2020, the global pandemic had a negative impact on enterprise transportation management system hardware demand. Manufacturing plants are being shut down or run at a reduced capacity, resulting in lower output. The supply chain and logistics have been disrupted as a result of this. In addition. the use of e-payment solutions has risen as a result of this.

The increase in COVID-19 cases has been a major setback for the transportation & manufacturing industry. The industry has suffered a significant decline as a result of most governments enforcing isolation practices. Governments have taken a number of steps to meet the challenges by providing subsidies and free checkups.

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Rapid development in value-based health care services

Rapid development of value-based healthcare services is expected to contribute to the market's tremendous growth. Attributed to value-based healthcare services, the healthcare cost curve and unnecessary health expenditure have been reduced by nearly 5.6% on average. According to UnitedHealth Group, a health insurance company based in the U.S., value-based payments to healthcare providers increased by more than 15% in 2019, providing incentives to provide high-quality care while improving the efficient use of healthcare resources. Furthermore, UnitedHealth predicted that by the end of 2020, $75 billion of its payments to medical care providers would be linked to value-based care relationships. Similarly, the number of Accountable Care Organizations (ACO) is growing, allowing for greater protection and inclusion. As a result, the rapid expansion of value-based healthcare services is expected to drive the market growth.

Lack of healthcare infrastructure

The absence of a healthcare infrastructure is expected to stifle the growth of the value-based care payment market. The main cause of this scarcity is organizations' unwillingness to take technological risks. According to a survey, for instance, a large portion of organizations have yet to embrace artificial intelligence (AI) to accelerate value-based care. Approximately 43% of healthcare organizations are unsure about implementing AI, and another 21% are unprepared for any AI-related innovation. Furthermore, only 13% are prepared for AI and have a plan in place, owing to lack of trained staff with data analytics knowledge. Furthermore, according to a year-long survey of 2,900 medical executives, many healthcare facilities lack the infrastructure to effectively integrate patient data, implying that value-based care payment cannot be used in these organizations.

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Key benefits of the report:

This study presents analytical depiction of the value based care payment market along with the current trends and future estimations to determine the imminent investment pockets.

The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.

The current market is quantitatively analyzed to highlight the value based care payment market growth scenario.

Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.

The report provides a detailed market analysis depending on the present and future competitive intensity of the market.

Value Based Care Payment Market Report Highlights

By Model

Accountable Care Organization (ACO)
Bundled Payments
Patient-Centered Medical Home (PCMH)
Pay for Performance (P4P)
Others

By Deployment

Cloud Based
On-Premise

By End User

Providers
Payer

By Region

North America (U.S., Canada)
Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Market Players : Blue Cross Blue Shield Association., Athena Health, Aetna, McKesson Corporation, Oliver Wyman, Change Healthcare, NXGN Management LLC, Optum, Nextstep Solutions, Baker Tilly, Siemens Healthineers

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