United States, Rockville MD, April 25, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global U.S. Population Health Management (PHM) Solutions market is projected to grow at a compound annual rate (CAGR) of 14.8% between 2021 and 2028. The market is expected to reach US$ 34.59 Bn by the end of 2028. The demand for U.S. Population Health Management (PHM) Solutions is expected to rise over the forecast period and the market was valued at US$ 11.2 Bn in 2020.
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The U.S. has witnessed massive increase in the prevalence of chronic diseases, and the increasing patient pool in the nation has subsequently driven demand for the deployment of population health management (PHM) systems. These PHM systems enable patient engagement and management through the integration of advanced technologies and software.
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PHM systems are also efficient in reducing healthcare costs and improving the overall quality of healthcare services provided, which drives their popularity. Increasing geriatric population, implementation of the Affordable Care Act (ACA), rising support from the government, and increasing technological proliferation are anticipated to be other factors guiding market potential over the forecast period.
What is Propelling Demand for PHM Programs in the U.S.?
“Implementation of Affordable Care Act (ACA) to Favor Growth of Value-based Care”
The Affordable Care Act (ACA) that was enacted in March 2010 is aimed at reducing the per capita cost of healthcare and is also responsible for majorly changing the healthcare infrastructure working to reduce the burden on patients and healthcare providers.
With ACA patients do not have to pay for unnecessary re-admissions which makes the hospitals financially responsible for any re-admissions within 30 days of patients being discharged.
In order to keep a track of all this crucial data and provide better healthcare, institutions are anticipated to adopt PHM programs and reduce overall healthcare costs for patients. The fee-for-service trend is expected to be left out as ACA promotes focus on value-based care services.
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Key Segments Covered in the U.S. Population Health Management (PHM) Solutions Industry Survey
- U.S. PHM Solutions Market by Source:
- Population Health Management Software
- Population Health Management Services
- U.S. PHM Solutions Market by Mode of Operation:
- Premise-based PHM Solutions
- Cloud-based PHM Solutions
- Web-based PHM Solutions
- U.S. PHM Solutions Market by End User:
- Government Insurance Providers
- Healthcare Providers
- Private Insurance Providers
- Pharmaceutical Companies
- Medical Device Organizations
- Others (Employers, Diagnostic & Imaging Centers, and Research Institutions)
Competitive Landscape
Key population health management solution providers in the U.S. are focusing on the integration of advanced technologies to enhance their offerings and boost revenue. Key players are also focusing on mergers, collaborations, and acquisitions to enhance their market presence in the U.S. industry landscape.
- In April 2022, Medecision a leading name in digital care management announced the initiation of a strategic partnership with Clearstep Health to pioneer enhanced patient engagement for existing as well as new health plans and systems.
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Key players in the U.S. Population Health Management (PHM) Solutions Market
- Caradigm
- Conifer Health Solutions
- Health Catalyst
- Healthagen LLC
- International Business Machines (IBM) Corporation
- Lumeris
- NextGen Healthcare Information Systems LLC
- Optum Health Inc.
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Key Takeaways from U.S. Population Health Management (PHM) Solutions Market Study
- In 2020, the U.S. population health management solutions market stood at a net worth of US$ 11.2 Bn.
- Demand for population health management solutions in the U.S. is projected to rise at a phenomenal CAGR of 14.8% from 2021 to 2028.
- The PHM solutions market in the U.S. is anticipated to reach US$ 34.59 Bn by the end of 2028.
- Increasing geriatric population, rising focus on reducing healthcare costs, increasing focus on patient engagement, prevalence of chronic diseases, and supportive government initiatives are factors that drive demand for PHM programs in the U.S.
- Web-based population health management solutions are anticipated to lead market growth in the U.S. over the forecast period.
- The services segment is anticipated to account for more than 50% market share by the end of 2028.
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