Jersey City, NJ, May 23, 2023 (GLOBE NEWSWIRE) -- The Value-Based Healthcare Services Market Size is valued at 6.07 Billion in 2022 and is predicted to reach 32.69 Billion by the year 2031 at an 20.79 % CAGR during the forecast period for 2023-2031.
Value-based healthcare refers to a business model in which providers, such as hospitals, are compensated based on patient health outcomes, quality, efficiency, cost, and knowledge. A switch from volume-based to value-based healthcare has been made due to fierce supplier rivalry and mounting demand to reduce costs and improve care. Patients, providers, payers, suppliers, and society benefit more from value-based healthcare. It focuses on helping patients recover quickly and prevent chronic diseases from achieving better health at reduced costs.
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Higher care efficiency benefit suppliers in the form of high patient satisfaction. Since the emergence of digital technology, there has been a lot of swift advances in the healthcare industry, which supports the expansion of the market for value-based healthcare services. Following the advent of digital technology, there have been several swift developments in healthcare due to the increasing investment by private and governmental organizations. This growth of the value-based healthcare services market is a result of these developments. Furthermore, market participants have more lucrative potential as chronic diseases like diabetes and cancer become more common in emerging nations.
Recent Developments:
- In March 2020, to assist healthcare organizations in maximizing their growth potential, Baker Tilly and IBM MarketScan worked together. This arrangement allows Baker Tilly to offer its customer a one-stop shop for generating practical proof.
- In August 2019, Signify Health, a US-based technology company that supports in-home care and offers care management services, announced a merger with Remedy Partners. The merger enables the two companies to combine their technology, data, and network assets, which comprise 2,000 post-acute organ transplant patients, 9,000 credentialed doctors, and a nationwide partner network of over 300 provider systems.
List of Prominent Players in the Value-Based Healthcare Services Market:
- Deloitte Touche Tohmatsu Limited
- Siemens Healthcare GmbH
- Veritas Technologies LLC
- Genpact
- McKesson Corporation
- NXGN Management LLC
- 3M
- Koninklijke Philips N.V.
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Value-Based Healthcare Services Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 6.07 Billion |
| Revenue Forecast In 2031 | USD 32.69 Billion |
| Growth Rate CAGR | CAGR of 20.79 % from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | Model, Deployment Type, Platform, Industry vertical |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
Market Dynamics:
Drivers:
The shift of healthcare-related risks from patients to their healthcare providers is the most important factor accelerating the growth of the global market for value-based healthcare services. Since the emergence of digital technology, there has been a lot of swift advances in the healthcare industry, which supports the expansion of the market for value-based healthcare services. The way healthcare is provided evolved due to the patient-focused policy. In addition, there has been a sharp increase in healthcare spending, infrastructural improvements, and the rapid spread of value-based healthcare services.
Challenges:
Market expansion is anticipated to be hampered by a balancing act between two reimbursement types and payment mechanisms. However, the global market for value-based healthcare services is anticipated to be constrained throughout the forecast period by the absence of necessary healthcare infrastructure and Internet connectivity in some emerging nations. The issue of having clinicians assess the same number of people and execute the same number of services is also anticipated to present future challenges to the value-based healthcare market.
Regional Trends:
The North American value-based healthcare services market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly due to a surge in patient demand for more readily available, practical, and inexpensive care. The region's market for value-based healthcare services is also greatly influenced by the region's established healthcare infrastructure and center for important industry participants. Value-based healthcare services are widely used in the United States due to clinicians' understanding of how early disease diagnosis can result in high patient satisfaction and improved treatment efficiency.
Economic development is being outpaced by rising medical expenditures, but value-based healthcare may offer a solution because it helps to keep costs in check. Besides, Asia Pacific had a substantial share in the value-based healthcare services market due to the region's enhanced healthcare system, greater awareness, and enhanced population viewpoint. Another aspect fueling the growth is the increased commercial pressure on providers to accommodate those three patient demands. Additionally, a surge in artificial intelligence and machine learning technologies that enhance telemedicine capabilities in the region is expected to fuel market growth in the Asia Pacific.
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Segmentation of Value-Based Healthcare Services Market-
By Model-
- Accountable Care Organization
- Patient-Centered Medical Home
- Pay for Performance
- Bundled Payments
By Deployment Type-
- Cloud
- On-Premises
By Platform-
- Standalone
- Integrated
By Industry Vertical-
- Providers (Hospitals, Clinics, Others)
- Payers (Insurance Companies, Government, Others)
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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