North America Population Health Management Market Analysis Report – Segmented Component, Solution, Delivery mode, End-user & Country (the United States, Canada and Rest of North America) – Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029)

Updated On: January, 2024
ID: 11728
Pages: 100

North America Population Health Management Market Size (2023 to 2028)

The size of the North American population health management market is estimated to be growing at a 20% CAGR during the forecast period.

To encourage the adoption of population health management systems, the Centers for Medicare & Medicaid Services (CMS) introduced the value-based payment modifier. Population health management solutions based on open application programming interfaces (APIs) are useful for managing chronic diseases with high treatment costs, such as heart disease, asthma, and diabetes. PHM solutions also help reduce the cost of care and improve patient outcomes. PHM software can also enable better analysis of patient data management to make informed decisions.

The market is primarily driven by the growing demand for healthcare IT services and solutions that support value-based healthcare delivery, leading to a shift from a fee-for-service (FFS) model to a payment-in-value (PBV) -based model. In addition, rising healthcare spending and the growing need for value-based healthcare and effective disease management in different healthcare settings are expected to drive the population healthcare management market in North America.

The American Recovery and Reinvestment Act (ARRA), also known as the Stimulus Bill, has significantly boosted the adoption of healthcare IT solutions such as PHM in the United States. More than 135 million people in the United States live with at least one chronic disease, accounting for about 77% of national health expenditure. Implementing MPS can help identify sick patients and improve disease prevention and management, resulting in financial savings.

In North America, poor health care management results in lost productivity and a significant portion of health care costs. In addition, the higher cost of installing population health management platforms in industries, lack of awareness in various industries, and issues with patient data security may hamper the growth of the North American population health management market over the course of the forecast period.

Impact of COVID-19 on the North America population health management market:

The COVID-19 pandemic has also increased the need for social distancing between physicians and other healthcare professionals, driving the demand for MPS solutions, the need to accurately and timely share medical records, and requests for reimbursement of patients with chronic illnesses. Additionally, the rapid spread of this disease worldwide has resulted in lockdowns and restrictions, increasing the demand for electronic data transfer and claims handling. It is also expected to increase the adoption of population health management in the coming years.

Government agencies have announced special financial assistance to develop preventive and curative drugs, purchase critical care medical devices, and ensure rapid approval of diagnostic tests. Many countries have also been affected by the second wave of COVID-19, resulting in complete lockdowns. Restrictions on social distancing have resulted in a slight increase in the use of PHM solutions.

This research report on the North American population health management market has been segmented & sub-segmented into the following categories.

By Component:

  • Hardware
  • Software
  • Services
    • Consulting Training & Education
    • Post-Sale & Maintenance Services
    • Others

By Solution:

  • Data Integration & Management
    • Clinical Data Integration
    • Financial Data Integration
    • Data Warehousing
    • Real-Time Data Exploration
    • Others
  • Analytics
    • Point of Care Decision Support
    • Predictive Analytics
    • Others
  • Patient Engagement
    • Remote Monitoring
    • Multi-Modal Communication
    • Monitoring & Compliance
    • Treatment Plan
    • Others
  • Care Coordination
    • Care Management WorkFlow Automation
    • Real-Time Alerting
    • Clinical Reporting
    • Care Team Coordination
    • Others

By Delivery Mode:

  • On-Premise
  • Web-Based
  • Cloud-Based
  • App-Based

By End-User:

  • Healthcare Providers
  • Healthcare Payers
  • Government Organizations
  • Others

By Country:

  • The United States
  • Canada
  • Rest of North America

Among all the North American countries, the U.S. population health management market is expected to lead during the forecast period due to advanced healthcare infrastructure and increased adoption of healthcare technologies and health information. The presence of major market players and their products in the region is estimated to drive growth in North America. In addition, increased awareness among the patient population about population health management and home health care will drive growth in the United States.

The Americas are expected to dominate the population health management market due to the increasing prevalence of chronic diseases in the geriatric population, the involvement of a well-established health system, and supportive government and policy initiatives. According to the Agency for Healthcare Research and Quality (AHRQ) data, more than 636 healthcare systems were present in the United States. The US Health Systems Compendium covered 70.7%, and 93% of all patients were discharged from hospitals in the system.

KEY MARKET PLAYERS:

A few of the promising companies operating in the North American population health management market are Cerner Corporation, Allscripts Healthcare Solutions Inc., McKesson Corporation., International Business Machines Corporation (IBM), Health Catalyst, Koninklijke Philips N.V., Optum Inc., Conifer Health Solutions, LLC., Lumeris, ZeOmega, Healthagen LLC, Persivia, and UnitedHealth Group.

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