Value Based Care Payment Global Market Projected to Grow Swiftly, Reaching $4.1 Billion by 2028

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Could The Value-Based Care Payment Market Flourish Through 2028?
The value-based care payment market size has witnessed a rapid surge in recent years. The market, which stood at $2.47 billion in 2023, is predicted to escalate to $2.77 billion by 2024. This growth indicates a compound annual growth rate CAGR of 12.1%. The growth in the historic period can be attributed to factors such as strong economic growth in emerging markets, a rise in healthcare expenditure, an increase in the use of digital healthcare infrastructure, and a swift development in value-based health care services.

Will The Growth Momentum Continue in the Near Future?
The value-based care payment market looks set to maintain its growth trajectory in the years to come. By 2028, the market is expected to reach $4.1 billion, growing at a CAGR of 10.4%. The forecast period's growth can be attributed to factors such as an increase in the aging population, the expansion of the middle class in emerging markets, and a rising prevalence of chronic diseases. Prominent trends for the forecast period include a focus on low-code platforms for value-based care, strategic mergers and acquisitions, the implementation of optimal care management strategies, and the adoption of remote patient monitoring as a reimbursable initiative for value-based care along with an increase in bundle payments.

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What Are The Major Drivers of The Market?
The surge in value-based health care services is anticipated to significantly contribute to the market's growth. Value-based healthcare services have helped reduce the healthcare cost curve and unnecessary health expenditures to about 5.6% on average. UnitedHealth predicts that $75 billion of its payments to medical care providers will be attached to value-based care relationships. Moreover, the number of Accountable Care Organizations ACOs is increasing, offering broader insurance coverage. For instance, a Journal of Health Affairs study highlighted more than 1,000 ACOs across the USA, representing over 1,400 contracts with commercial and government insurers, covering more than 32 million Americans. Therefore, the rapid expansion in value-based health care services is driving the value-based care payment market demand by enhancing the utilization of services offered to customers focusing on the value-based care model rather than the fee-for-service model.

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Who Are The Key Players In This Space?
The market landscape includes major companies such as McKesson Corporation, Change Healthcare, Premier Inc, NextGen Healthcare Inc, FinThrive, Inc, Unitedhealth Group Inc, Edifecs, Nuna Inc, OM1, Relias, Apollo Specialty Hospital, National Hospital Organisation Medical Center, National Cancer Center Hospital, Tata Memorial Hospital, Phoenix Healthcare Group, and JD Health among others. Further major participants include Alibaba Health Information Technology Ltd, Ping An Healthcare And Technology Co. Ltd., Tencent Holdings Ltd, Wedoctor Holdings Zhejiang Co. Ltd., Huma, Cera, Lumeon, Helios Gesundheit, University Clinic Heidelberg Universittsklinikum Heidelberg, Leiden University Medical Center, Doctorlink, Cigna, GE Healthcare, Siemens Medical Solutions USA, Inc., Etyon Health, Fresenius Medical Care, Medtronic PLC, 3M Healthcare Service Group, F. Hoffmann-La Roche AG, Dickinson And Company, Acelity L.P., Dupatri, Vibe Saúde, Célebre Corretora, Butterfly, Plim, Guepardo Sistemas, LUMC, Afya Ltd, Glic, Iclinic Desenvolvimento De Software Ltda, Glucare Integrated Diabetes Center, Clalit Health Services, Nextstep People Solutions, Athena Health.

What Emerging Trends Are Reshaping The Market?
Partnerships in value-based care are witnessing a growing popularity among providers. These partnerships enable manufacturers, payers, and provider organizations to collaboratively co-develop programs, solutions, and initiatives that benefit patients and healthcare systems. Value-based partnerships help deliver the best value to the healthcare system and society by focusing on improving patient outcomes relative to the system and societal total costs. For example, in June 2021, US-based health insurance company Humana acquired value-based home healthcare partner One Homecare Solutions onehome from WayPoint Capital Partners to enhance value-based care in home healthcare services.

How Is The Market Segmented?
The value-based care payment market has the following segments -

1 By Model: Accountable Care Organization ACO, Bundled Payments, Patient-Centered Medical Home PCMH, Pay For Performance P4P
2 By Deployment Type: Cloud Based, On-Premise
3 By End User: Providers, Payer

What Is The Regional Situation Of The Market?
In 2023, North America emerged as the largest region in the value-based care payment market, closely followed by Western Europe. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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