The Global Healthcare Provider Network Management Market size has been valued at USD XX million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of XX%to reach USD XX Millionby 2028. Healthcare providers are frequently struggling with the growing pressure to cut down on patient costing, increase accessibility, and provide higher quality services. The healthcare sector is now looking keenly at IT solutions to address these issues.
Nowadays, facilities and solutions are mastered through the exercise of big data analytics, cloud computing, advanced communication, and networking to address the prevalent challenges within the healthcare industry. Amongst several solutions, the critical one is the healthcare provider network management system. It is a system through which caregivers are on a universal platform under an umbrella that provides easy communication and connectivity.
FIGURE 1: HEALTHCARE PROVIDER NETWORK MANAGEMENT MARKET
The healthcare provider network primarily includes hospitals, a diverse group of doctors, and other healthcare providers. They provide healthcare services to the members as a part of a health insurance plan. They are also recognized as in-network providers or network providers.The implementation of stringent laws in the U.S., along with a growing focus on quality improvement by using payer reports and responses,has been driving the market. In addition, a rising focus on improving the quality of care through a number of technological developments related to healthcare IT solutions is driving the global healthcare provider network management market growth.
The implementation of strict regulatory mandates in developed countries is also likely to fuel market growth. However, high maintenance and initial costs can limit the overall market growth at the global level. Advanced data analytics will provide significant growth opportunities for the healthcare provider network management market. However, managing the quality of care across the entire network of providers remains a major challenge for the market.
FIGURE 2: HEALTHCARE PROVIDER NETWORK MANAGEMENT MARKET SEGMENTATION
The healthcare provider network management market has been segmented based on component, end-users, and regions.
FIGURE 3: HEALTHCARE PROVIDER NETWORK MANAGEMENT MARKET (USD MILLION), BY COMPONENT
Based on the component, the global healthcare provider network management market is divided into software and services. The services segment is further segmented into in-house services and outsourced services. The services segment is likely to hold the highest market share during the forecast period due to attributes such as improvement of operational efficiencies, achievement of regulatory compliance, and reduction of the overall costs.
These attributes offer a competitive advantage to the service segment over the software segment. The in-house services sub-segment is estimated to become the dominant segment in the healthcare provider network management services market, owing to its regulatory compliance, long-term provider relationships, and better provider network management. Such advantages are fueling the growth of this segment.
There has been increased pressure on health plans to improve the efficiency of provider network management. Custom-made provider network management helps in measuring and improving the provider’s performance and redefining networking procedures to focus on the value of their healthcare services. The company OSP, which is a custom provider of network management, offers software services that strive to eliminate redundant and manual provider data management, medical credentialing services, provider contracting, and profiling systems, through highly advanced provider network management automation.
Based on the end-user, the global healthcare provider network management market is divided into hospitals & clinics, specialty centers, diagnostic centers, and others. The growing adoption of healthcare provider network management software, in addition to services, in hospitals is likely to drive the market growth. The diagnostic centers segment is also likely to grow at the fastest CAGR during the forecast timeline. A diagnostic center is a place where physicians can look inside one’s body for diagnosing different health conditions. A diagnostic center has the required equipment and trained specialists to perform different diagnostic tests.
By region, the global healthcare provider network management market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The largest share of the market will be held by North America during the forecast period. The key factors that are driving the growth of this regional market are the requirement to reduce healthcare costs in the U.S, an increase in health insurance coverage under the Patient Protection and Affordable Act (PPACA) in the U.S. and Canada, and government support for healthcare IT solutions in Canada.
Europe is expected to emerge as the second largest market during the forecast period due to the growing awareness about the utilization of network management systems in healthcare. On the other hand, the high potential markets of China, Japan, India, South Korea, and Australia will drive the market growth in the APAC region. South America and Middle East & Africa are also anticipated to grow at steady rates.
- In June 2020, Change Healthcare has acquired PDX, a company dealing in patient-centric and innovative technologies for health systems and pharmacies. With this acquisition, Change Healthcare has expanded its product portfolio
- In May 2020, Appian has establisheda partnership with Box, a leading cloud content management platform. With this partnership, the company has made enterprise collaboration more secure, valuable, and efficient. Appian provides a low-code automation platform that accelerates the creation of high-impact business applications
- In September 2019, Salesforce.com, Inc. (Vlocity) launched an online customer collaboration portal for advancing digital transformation initiatives
What does This Report Provide?
This report provides a detailed understanding of the global healthcare provider network management demand from a qualitative and quantitative perspective with a forecast for the next 10 years. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the global healthcare provider network management market.
The major market drivers, challenges, and opportunities for the global healthcare provider network management market have also been covered in the report. This report further includes the market share of the leading companies operating in the healthcare provider network management,along with their production capacities and the growth strategies adopted by them.
- In-house services
- Outsourced services
- Hospitals & Clinics
- Specialty Centers
- Diagnostic Centers
North America Healthcare Provider Network Management Market
- North America, by Country
- North America, by Component
- North America, by End-User
Europe Healthcare Provider Network Management Market
- Rest of Europe
- Europe, by Component
- Europe, by End-User
Asia Pacific Healthcare Provider Network Management Market
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Component
- Asia Pacific, by End-User
Middle East & Africa Healthcare Provider Network Management Market
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Component
- Middle East & Africa, by End-User
South America Healthcare Provider Network Management Market
- South America, by Country
- Rest of South America
- South America, by Component
- South America, by End-User
Major Companies: In this report, the following major companies are studied: Aldera, Inc., Ayasdi, Inc., Genpact Limited, Infosys BPO, Ltd., McKesson Corporation, Mphasis Limited, Optum, Inc., Syntel, Inc., TriZetto Corporation (A cognizant company), Vestica Healthcare, LLC (A Skygen USA company), Skygen USA, LLC, OSPLabs, Centene Corporation, Virtusa Corp., Appian, Andros, Salesforce.com, Inc., and Change Healthcare.
Objectives of This Report:
- To estimate the market size for the healthcare provider network management market on a regional and global basis.
- To identify major segments in the healthcare provider network management market and evaluate their market shares and demand.
- To provide a competitive scenario for the healthcare provider network management market with major developments observed by the key companies in the historic years.
- To evaluate key factors governing the dynamics of the healthcare provider network management market with their potential gravity during the forecast period.
- To evaluate the leading company-wise pricing analysis for mentioned applications
This study is customized to meet your specific requirements:
- By sub-segment
- By client specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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