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NEW YORK, Nov. 23, 2022 /PRNewswire/ --
Major players in the healthcare claims management solutions market are Oracle Corporation, Allscripts Healthcare Solutions Inc, Quest Diagnostics, McKesson Corporation, eClinicalWorks LLC, The SSI Group LLC, GE Healthcare, Optum Inc, Cerner Corporation, Accenture plc, International Business Machines Corporation (IBM), CareCloud Inc., Genpact Limited, PLEXIS Healthcare Systems and Avaya Inc.
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The global healthcare claims management solutions market is expected to grow from $13.30 billion in 2021 to $19.95 billion in 2022 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The healthcare claims management solutions market is expected to grow to $16.98 billion in 2026 at a compound annual growth rate (CAGR) of 5.0%.
The healthcare claims management solutions market consists of sales of healthcare claims management solutions by entities (organizations, sole traders, and partnerships) used to simplify the medical claims process, increase efficiency and accuracy, improve the patient payment lifecycle and make easier relationships between providers and insurance companies. Healthcare claims management solutions refer to solutions that strive to provide complete automation of claims processing and speedier access to client information while maintaining the protection of private medical information.
The main types of healthcare claims management solutions are software and services.Software refers to a set of data, instructions, or programs that are used in computers to complete specific tasks.
These are deployed through web-based, cloud-based, and on-premise deployment. The various end-users include healthcare payers, healthcare providers, and other end-users.
North America was the largest region in the healthcare claim management solution market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the healthcare claim management solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rapid increase in the aging population is expected to propel the growth of the healthcare claims management solutions market going forward.The aging population refers to people aged 65 and over.
People aging over 65 years of age would need healthcare claims to speed up the payment lifecycle and healthcare claim management solutions provide them easier access to healthcare claim management, as a result, a rapid increase in the aging population increases the demand for healthcare claims management solutions. For instance, according to the United Nations World Population Ageing 2020 report, a US-based intergovernmental organization, the world population aging in 2020 was about 727 million people aged over 65 years and expected to reach 1.5 billion in 2050. Throughout the world, there is an increased population of over-aged 65 years which stood at 9.3% in 2020 and is expected to reach 16.0% by 2050. Therefore a rapid increase in the aging population is driving the healthcare claims management market.
Advancements in technology for innovative treatments in healthcare are the key trend gaining popularity in the healthcare claims management solutions market.Major companies operating in the healthcare claims management solutions market are coming up with new technologies to provide innovative treatments for their customers and to sustain their position in the market.
For instance, in January 2022, Treatment.com International Inc., a US-based healthcare software solutions provider including healthcare claims management launched their doctor-built digital health app named the treatment digital health app. This app is a revolutionary digital health app that uses AI software technology which gives wide access to provide highly accurate insights about the users’ health. This provides diagnoses, and treatments customized for the user.
In February 2022, Hellman & Friedman, a US-based private equity firm, and Bain Capital, a US-based private investment firm acquired Athenahealth for a deal amount of $17 billion.This acquisition provides Hellman & Friedman and Bain Capital with the largest and most innovative provider of cloud-based electronic medical records and physician practice solutions across healthcare.
Athenahealth is a US-based healthcare technology provider operating in the healthcare claims management solutions market.
The countries covered in the healthcare claim management solution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The healthcare claims management solutions market research report is one of a series of new reports that provides healthcare claims management solutions market statistics, including healthcare claims management solutions industry global market size, regional shares, competitors with a healthcare claims management solutions market share, detailed healthcare claims management solutions market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare claims management solutions industry. This healthcare claims management solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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