Care Management Solutions Market Size, Share,Industry, Forecast and outlook (2024-2031)

The escalating high cost of healthcare services, hospitalizations, and chronic disease management led to adopt more efficient ways for managing patient care and preventing avoidable hospital admissions. Care management solutions help to identify high-risk patients and provide proactive interventions for managing health and lead to reduce overall healthcare expenses. It also supports care coordination, data-driven decision making, and patient engagement with the goals of value-based care initiatives.Technological advancements in care management solutions that include electronic health records, telehealth, wearable devices, and health apps, have created a wealth of patient data. It leverages data to provide personalized care plans, monitor patient progress and enable remote patient monitoring. Care management solutions utilize data analytics and artificial intelligence to identify patterns, predict disease progression, and recommend optimal interventions.

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Government healthcare programs such as Medicare and Medicaid play a major role in promoting care management solutions and these programs promote healthcare providers to adopt care coordination models and lead to utilize electronic health records to improve patient care. Public health agencies launched initiatives to manage the health of specific populations and these initiatives involve data analysis to identify health trends and risks, enabling targeted interventions and preventive measures.For instance, on 8 June 2023, the Centers for Medicare & Medicaid Services (CMS) introduced a new primary care model called the Making Care Primary Model and this model is tested under the Center for Medicare and Medicaid Innovation, which aims to enhance the primary care infrastructure in U.S. Care management solutions collaborated with model participants to address community-specific priorities, including care management for chronic conditions, behavioral health services and healthcare access for rural residents.

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Segment Analysis

Service is expected to be the major segment fueling the market growth with a share of about 1/3rd in 2022. Coordinating care among different healthcare providers and specialists is essential to ensure comprehensive and seamless treatment. Care coordination services help prevent duplication of services, reduce gaps in care, and improve communication between providers. Collaboration between companies provides services to patients.For instance, on 18 August 2023, Healthcare Outcomes Performance Company, a prominent player in musculoskeletal practice and clinical outcomes management solutions, formed a joint venture with Provider Network Solutions to establish HOPCo Network Solutions. The collaboration between HOPCo and PNS aims to expand the scope of services to payers, accountable care organizations, MSK providers and patients.

Competitive Landscape

The major global players in the market include Casenet, LLC, Medecision, Cognizant, ZeOmega, Cerner Corporation, Allscripts Healthcare, LLC, Epic Systems Corporation, Athenahealth, Inc., Koninklijke Philips N.V. and IBM Corporation.

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