The size of the Latin American care management solutions market is estimated to be growing at a CAGR of 11.2% from 2022 to 2027.
The growth of the market is primarily driven by the implementation of initiatives to shift the burden of risk from healthcare payers to providers, government initiatives and regulations that promote patient-centered care, initiatives to promote computer care, the increase in the geriatric population, and the need to reduce healthcare costs are driving the growth of the Latin America care management solutions market.
Integrated care management solutions seek healthcare trends, cost, and quality throughout the healthcare market. Such solutions remove barriers to incomplete patient care and provide useful services, enable people to manage patient care, and manage patient health programs more effectively. For example, in 2018, Innovaccer Inc. launched a unique care management software package for healthcare organizations to measure and compare the efficiency, impact, and cost-effectiveness of care programs. Thus, improving healthcare will lead to rapid advancement in the healthcare management solutions market in the years to come.
Ongoing development and implementation of new solutions, such as next-generation care management solutions and care management technology for various end-users, such as hospitals and clinics, responsible care organizations, health insurance providers, and others, are creating opportunities for the growth of the healthcare management solutions market space.
Benefits such as business productivity, improved health outcomes with clinical guidelines, empowered population health, and reduced gaps in care with health risk assessments are key factors that drive the high adoption of managed care solutions. In addition, a growing number of providers of care management solutions are offering new and innovative solutions for business continuity. The integration of technologies such as IoT, Big Data, Artificial intelligence, and others is expected to lead to the development of the healthcare management solutions market with much more capabilities and improved performance in the years to come.
The effective use of care management solutions needs a strong IT infrastructure and IT support within the organization, even from the solution provider side. There is an ongoing need for technical support in a healthcare organization to maintain the server and network for the proper functioning of clinical workflows and optimal interface speed of healthcare management solutions. Inadequate server or network maintenance results in screen loads, slowing down clinical workflow. The aforementioned factors are expected to significantly negatively impact the Latin American care management solutions market during the forecast period.
Impact of COVID-19 on the Latin American care management solutions market:
Due to the COVID-19 pandemic, medical practices of all sizes are under immense pressure, and healthcare facilities worldwide have been overwhelmed by the large number of patients who visit them daily. The increasing number of COVID-19 cases has driven demand for accurate diagnostic and treatment devices in several countries. In this regard, care management solutions proved to be very promising, allowing care providers to ease integrate solutions, such as EHR, with solutions for healthcare payers, such as management claims and payment management solutions. Additionally, due to blockages and movement restrictions, the demand for electronic data transfer and claims handling increased dramatically in several countries in the early months of the pandemic.
This research report on the Latin American care management solutions market has been segmented and sub-segmented into the following categories:
By Component:
By Delivery Mode:
By Application:
By End Users:
By Country:
Geographically, during the forecast period, the Brazilian market is expected to account for the largest Latin American market due to the strong presence of care management software and service providers.
Countries such as Mexico and Argentina are expected to showcase healthy growth rates during the forecast period. Rapid urbanization and economic development in Mexico and Argentina are expected to represent the fastest-growing Latin American care management solutions market. In addition, rapid advances in new technologies, such as hybrid cloud solutions and remote care management technology, have made it easy and cost-effective to access new markets. Therefore, with the flexibility afforded by this technology, the healthcare management solutions market providers can take advantage of the booming opportunities in the Latin American region.
KEY MARKET PLAYERS:
Allscripts Healthcare Solutions, Inc., Casenet, LLC, Epic Systems Corporation, Medecision Inc., Cognizant Technology Solutions, Cerner Corporation, Koninklijke Philips N.V, IBM, ZeOmega Inc., and EXL Service Holdings, Inc. are some of the significant companies operating in the Latin American care management solutions market.
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