According to a new market research report “Healthcare Provider Network Management Market by Component (Services (Internal Services, Outsourcing Services), Platform/Software) – Analysis and Global Forecast to 2020“, published by MarketsandMarkets, the global market for the forecast period of 2015 to 2020. This market is expected to reach USD 2.96 Billion by 2020 from USD 1.78 Billion in 2015, at a CAGR of 10.7%.
Browse 28 market data Tables and 37 Figures spread through 97 Pages and in-depth TOC on “Healthcare Provider Network Management Market”
Implementation of stringent federal mandates in the U.S., growing focus on improving quality of care through the effective use of payer reporting requirements are major factors driving the healthcare provider network management market. However, high cost of deployment is likely to restrain the growth of this market. Moreover, advanced data analytics in IT provide advantages to the payers such as reduction in overall cost, better negotiation capabilities, better predictions of risks and situations, among other, provide a good opportunity for the Healthcare Provider Network Management Industry.
Healthcare Provider Network Management Market is categorized into services and platforms/software. Services market is further segmented into internal services and outsourcing services. The services segment is estimated to account for the largest share of the Healthcare Provider Network Management Market and is expected to growth at the highest CAGR.
The largest share and high growth can be attributed to the fact that services help build a stronger provider network, reduce the overall costs, improve operational efficiencies, and achieve regulatory compliance. Such advantages drive their uptake among payers over platforms/software.
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On the basis of regions, this market is categorized into North America (U.S., and Canada), Europe, Asia-Pacific, and the Rest of the World (RoW) (Latin America, Middle East, and Africa). In 2015, North America is poised to account for the largest share of the healthcare provider network management market, followed by Europe and Asia-Pacific. The North America market is slated to grow at the highest CAGR during the forecast period.
The major factors driving market growth in North America include the increase in health insurance coverage triggered by the Patient Protection and Affordable Act (PPACA) in the U.S., the rising need to curtail escalating healthcare costs in the U.S. and Canada, and the government focus on healthcare IT solutions in Canada.
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Some of the key players in the global healthcare provider network management market include Aldera, Inc. (U.S.), Ayasdi, Inc. (U.S.), Genpact Limited (U.S.), Infosys BPO, Ltd. (India), McKesson Corporation (U.S.), Mphasis Limited (India), Optum, Inc. (U.S.), Syntel, Inc. (U.S.), TriZetto Corporation (A cognizant company) (U.S.), and Vestica Healthcare, LLC (A Skygen USA company) (U.S.).