New York, United States , Aug. 07, 2024 (GLOBE NEWSWIRE) -- The Global Value-based Healthcare Services Market Size is to Grow from USD 1.33 Trillion in 2023 to USD 4.13 Trillion by 2033, at a Compound Annual Growth Rate (CAGR) of 12.00% during the projected period.
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Value-based health care is a type of insurance that benefits hospitals and other providers by supporting patient expertise, quality, cost, efficiency, and health benefits. Intense competition among suppliers and mounting pressure to lower prices and improve quality of care are easing the shift from volume-based to value-based health care. Patients, providers, payers, suppliers, and society were all prioritized under value-based healthcare. It focuses on helping patients make a rapid recovery and avoiding chronic diseases to improve health at a lower expense. Increased patient satisfaction for providers is a direct effect of increased service efficiency. Value-based payment models are gradually displacing traditional fee-for-service models in the healthcare payment systems of various nations. These approaches prioritize health outcomes over treatment volume. This change is one of the primary reasons driving the market for value-based healthcare service. Under the fee-for-service paradigm, which encourages greater service volume while ignoring patient quality and results, healthcare providers are paid for each test and operation. The global market for value-based healthcare service is mostly driven by government programs. However, due to their previous reliance on fee-for-service models, payment and billing methods can on occasion present restraints on the value-based healthcare service market. In these arrangements, the amount of services supplied by healthcare providers is compensated more highly than the quality or benefits achieved.
Browse key industry insights spread across 219 pages with 114 Market data tables and figures & charts from the report on The Global Value-based Healthcare Services Market Size, Share, and COVID-19 Impact Analysis By Model (Accountable Care Organization, Patient-Centered Medical Home, Pay for Performance, Bundled Payments), By Deployment Type (Cloud, On-premises), By End User (Hospitals, Clinics, Insurance Companies, Government, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The accountable care organization segment is anticipated to hold the greatest share of the global value-based healthcare services market during the projected timeframe.
On the basis of the model, the global value-based healthcare services market is divided into accountable care organizations, patient-centered medical homes, pay-for-performance, and bundled payments. Among these, the accountable care organization segment is anticipated to hold the greatest share of the global value-based healthcare services market during the projected timeframe. To improve patient outcomes and care coordination, Accountable Care Organizations (ACOs) are focusing more on telehealth capabilities, forming collaborative agreements, and managing population health through data analysis.
The cloud segment is predicted to hold the greatest share of the global value-based healthcare services market during the estimated period.
On the basis of deployment type, the global value-based healthcare services market is divided into cloud and on-premises. Among these, the cloud segment is predicted to hold the greatest share of the global value-based healthcare services market during the estimated period. The cloud is being used more and more in value-based healthcare because it provides scalability, interoperability, and safe data storage.
The hospitals segment is anticipated to hold the largest share of the global value-based healthcare services market during the projected timeframe.
On the basis of end user, the global value-based healthcare services market is divided into hospitals, clinics, insurance companies, government, and others. Among these, the hospitals segment is anticipated to hold the largest share of the global value-based healthcare services market during the projected timeframe. Value-based healthcare providers prioritize the use of digital health technologies to make data-driven decisions, apply care coordination strategies to enhance outcomes while reducing costs, and provide high-quality patient care.
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North America is expected to hold the largest share of the global value-based healthcare services market over the forecast period.
North America is expected to hold the largest share of the global value-based healthcare services market over the forecast period. Value-based healthcare services are becoming more and more popular in North America due to people's increasing demand for more accessible, useful, and affordable care. The market for value-based healthcare services has been significantly affected by the region's well-established healthcare system and significant economic players.
Asia Pacific is predicted to grow at the fastest pace in the global value-based healthcare services market during the projected timeframe. The developing region is investing in health care due to the increasing need. In addition, more people are becoming aware of their access to healthcare services. The government can back several initiatives that could promote the expansion of value-based healthcare services in this region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global value-based healthcare services market include Eli Lilly, Walgreens and Pearl Health, Baker Tilly, LLP, Change Healthcare, Athena Healthcare, Curation Health, UnitedHealth Group, McKesson Corporation, Deloitte, Sunshine Health, Siemens Medical Solutions USA, Inc., Signify Health, Inc., Humana, NXGN Management, LLC., and Other key companies.
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Recent Developments
- In January 2024, LillyDirect a comprehensive digital healthcare solution that was launched by Eli Lilly and Company for Americans suffering from diabetes, migraines, and obesity.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global value-based healthcare services market based on the below-mentioned segments:
Global Value-based Healthcare Services Market, By Model
- Accountable Care Organization
- Patient-Centered Medical Home
- Pay for Performance
- Bundled Payments
Global Value-based Healthcare Services Market, By Deployment
- Cloud
- On-premises
Global Value-based Healthcare Services Market, By End User
- Hospitals
- Clinics
- Insurance Companies
- Government
- Others
Global Value-based Healthcare Services Market, By Regional Analysis, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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