Government reforms in some countries, such as the Affordable Care Act in the US, are expected.
Range of population health management tools that enable different patient-centric functions in various care settings to encourage adoption
ALBANY, New York, March 29, 2022 /PRNewswire/ — TMR analysts estimate that population health management market to expand at a CAGR of 15.9% over the forecast period of 2021 to 2028. The rapid penetration of healthcare IT solutions for the benefits of remote patient monitoring, data storage and data integration is driving the growth of the population health management market.
The growing awareness of the benefits of population health management programs is likely to create opportunities in the population health management market. The adoption of PHM The tools have enabled medical professionals to improve quality of care, close gaps in care management by providing appropriate healthcare services to the patient population, and experience increased cost-effectiveness.
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North America it is anticipated to remain in the forefront among all regions in the population health management market. The market for population health management in Pacific Asia it is anticipated to show the fastest growth during the forecast period. This is due to initiatives by government agencies to harness population health and the application of analytics tools to improve patient care management for population groups in the region.
Population Health Management Market: Key Report Findings
Government initiatives to adopt digital health products to reduce the cost for patients and improve the quality of patient care services are driving the adoption of platforms based on population health management. For example, in the US, the implementation of the Affordable Care Act eliminates unnecessary readmission payments so hospitals bear the financial burden for up to 30 days after patients are discharged.
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PHM tools are available in a wide range that have different features for various care settings. Data collection, personalized medicine, assistance with health care finances for patients and payers are some of the offerings of PHM tools.
The adoption of PHM programs ensures the affordability of health care for the population in addition to the accessibility of health care. Lately, various population health management programs implemented by hospital administrators have proven instrumental in reducing the total cost of hospitalization, improving medication adherence, and testing new models in disease risk management.
PHM tools make it easy for nonprofit hospitals to perform routine community activities mandated by their position. The task involves the use of a population health management tool to provide an assessment of a research hospital’s plan to address its identified needs. Not-for-profit hospitals seek assistance from community health centers, which typically purchase storage space for population health management applications and rent it to others.
Utilization of population health management services through the use of home monitoring and control applications is expected to reduce the need for hospitalization. The integration of multimedia functionalities in PHM tools could help consumers and patients to have greater access to doctors and nurses remotely without the need to visit a health center.
Web-based mode of operation is anticipated to dominate the population health management market during the forecast period
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Population Health Management Market: Growth Drivers
The key advantages of patient engagement through various forms of IT and digital products are driving the growth of the population health management market. Using patient-generated health data through m-health applications helps physicians improve population health management.
Technological advances in analytics, electronic health records, and better population education are driving demand for population health management platforms.
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Population Health Management Market – Key Players
Some of the key players operating in the population health management market are;
The population health management market is segmented as follows;
Population health management market, by mode of operation
On the premise
Population health management market, by component
Population health management market, by end user
Health service providers
Population health management market, by region
middle East & Africa
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