Healthcare Provider Network Management Market Survey and Trend Research 2017 – 2025
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Over the past few decades, the healthcare provider network management market has grown significantly due to increasing focus on improving quality of healthcare through the effective use of requirements and stringent federal mandates implemented in the U.S. However, high cost of deployment is majorly constraining the growth of the healthcare provider network management market. Innovative data analytics in IT provide benefits to payers such as better predictions of situations and risks, superior negotiation capabilities, and reduction in overall cost that provide a good opportunity for this market. Reluctance of users to migrate from legacy systems is a major challenge for this market.
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The global healthcare provider network management market is segmented on the basis of components into the following categories: services and platforms/software. Services market is further classified into outsourcing services and internal services. The service segment which is expected to register high growth in the near future, because of high growth and largest share can be attributed to the fact that services helps to improve operational efficiencies, build a stronger provider network, achieve regulatory compliance, and reduce the overall costs. Such benefits gives a competitive advantage to the service sector over platforms/software. The internal services segment is the dominant segment in the provider network management services market due to help ensure profitability, long-term provider relationships, regulatory compliance and better provider network management. These advantages drive the growth of this segment over the outsourcing services segment.
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Geographically, the healthcare provider network management market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominated this market, followed by Europe, Asia Pacific, and the other regions. Key factors driving the growth of the North America market include the increasing need to reduce healthcare costs in the U.S, rise in health insurance coverage under the Patient Protection and Affordable Act (PPACA) in the U.S. and Canada, and government support to healthcare IT solutions in Canada. In order to gain competitive advantage in the industry, key players are actively involved in offering variation to products and services and also continuously undertaking new product launches. Collaborations, partnerships, and agreements are important strategies followed by market players to stay ahead of competition.
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Some of the key players operating in healthcare provider network management market include Optum, Inc., Ayasdi, Inc., Aldera, Inc., Genpact Limited, McKesson Corporation, Infosys BPO, Ltd., TriZetto Corporation, Mphasis Limited, Syntel, Inc., and Vestica Healthcare, LLC.
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