(Entertainment-NewsWire.com, July 24, 2020 ) According to the new market research report “Patient Access Solutions Market by Product & Service (Eligibility Verification, Medical Necessity, Prior-authorization, Denial Management), Delivery Mode (Web & Cloud, On-premise), End User (Providers, Outsourcing Companies) – Global Forecast” published by MarketsandMarkets™
The patient access solutions market is expected to reach USD 1.74 Billion by 2022 from an estimated USD 1.14 Billion in 2016, at a CAGR of 7.6%.
Patient access solutions include software and services that help healthcare organizations to maintain their financial balance by reducing operational costs and minimizing claims rejection. These solutions are used to verify a patient’s insurance coverage eligibility, enable efficient claims processing, and manage medical necessity & denials.
Based on delivery mode, the patient access solutions market is classified into web & cloud-based solutions and on-premise solutions. The web & cloud-based solutions segment accounted for the largest share of the patient access solutions market in 2016. The flexibility of working from remote areas, affordability, and automated updating features are some of the factors attributing to the larger share of the web & cloud-based solutions segment
The global patient access solutions market by end user is segmented into healthcare providers, Healthcare IT outsourcing companies, and other end users. In 2016, the healthcare providers segment accounted for the largest share of the market. The high share of this segment is mainly attributed to the growing healthcare IT adoption, increasing healthcare costs, significant growth in healthcare spending worldwide, and declining reimbursement rates.
The geographical regions mapped in the report are:
# North America #Europe # Asia Pacific # Rest of the World
Regional Growth, Development and Demand Analysis:
North America’s large share in the global market is attributed to factors such as stringent regulations, increasing government support for improving healthcare infrastructure, the need for reducing healthcare costs, increasing volume of claims denials, high number of private healthcare payers and well-established government payers, and the presence of a large number of healthcare IT companies
Objectives of the Study :
# To define, describe, segment and forecast the global patient access solutions market on the basis of product & service, delivery mode, end user, and region # To forecast the size of the patient access solutions market with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW) # To provide detailed information regarding the major factors influencing the growth of the global patient access solutions market (drivers, restraints, opportunities, and industry-specific challenges) # To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market # To analyze the opportunities in the market for stakeholders and provide details of the competitive leadership mapping for market leaders # To profile key players in the global patient access solutions market and comprehensively analyze their core competencies and market shares # To track and analyze competitive developments such as acquisitions; product launches; collaborations, partnerships, and agreements; and expansions in the market
Some key players mentioned in the research report are:
McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian plc (Ireland), Optum (US), Conifer Health (US), The Advisory Board (US), 3M (US), Craneware (UK), The SSI Group (US), ZirMed (US), Cirius Group (US), and AccuReg Software (US).