The Patient Access Solutions Market Insights by Service (Support &
Maintenance and Implementation), Software (Eligibility Verification Software
and Medical Necessity Management Software,), End User & Region - Global
Forecast till 2032
Market Overview
The patient access solutions market
industry is projected to grow from USD 1.83 Billion in 2023 to USD 3.45 Billion
by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the
forecast period (2023 - 2032).The market can thrive by minimizing the number of
staff required for management of patient data. The increase in healthcare
expenditure by nations globally can drive the adoption rate by hospital chains
globally and provide the market a much-needed boost. According to the U.S.
Census Bureau, the total healthcare expenditure was reported to be USD 831.5
billion.
Technological advances in software which
have culminated in accuracy, portability, and affordability can ramp up the
adoption rate significantly. The integration of artificial intelligence (AI)
into the software to assist patients in their search can bode well for the
global patient access solutions market growth. Additional functions of health
economics management and patient record management as well as integration of
real-time management models can influence the growth patterns of the market.
Segmentation
The global patient access solutions market trends is segmented by delivery mode,
software, service, and end-user.
By delivery mode, it is segmented into
on-premises solutions and web & cloud-based solutions.
By software, it is segmented into
eligibility verification software, pre-certification & authorization
software, payment estimation software, medical necessity management software,
medical claims payment processing software, claims denial & appeal
management software, and others.
By service, it is segmented into training
& education, support & maintenance, and implementation.
By end-user, it is segmented into
laboratories & research institutes, hospitals & clinics, and healthcare
providers.
Regional Analysis
The Middle East & Africa (MEA), Europe,
Asia Pacific (APAC), and North America are the main regions considered during
the compilation of the market report.
The Americas accounted for the lion’s share
of the market due to presence of well-established hospital chains, reputed
personnel, sophisticated infrastructure, and high healthcare expenditure.
Europe accounted for the second-largest
market share due to increased support for research and development.
Furthermore, the integration of the latest technology as well as upgradation of
current equipment can drive the global patient access solutions market demand
till 2023. Investment of capital as well as the large healthcare expenditure
allocated for the well-being of patients can augur favorably for the market in
the region.
The APAC region is estimated to grow at a
robust pace due to rapidly growing economies as well as the large patient pool.
Awareness among patients of mobile applications as well as large disposable
income levels has led to the integration of the latest automated solution at
major hospitals. This can prove fruitful for
the market looking to expand in the region. Furthermore, the improving
economies other than large ones of China and India can be lucrative areas for
investment.
Competition
Outlook
Takeda Pharmaceutical Company Limited,
Optum, TeleTracking Technologies, Inc., TransUnion LLC, SCI Solutions, Inc.,
GAFFEY Healthcare, Experian Information Solutions, Inc., Genentech USA, Inc.,
PokitDok, Inc, nThrive, Inc, Stericycle Inc, Cardinal Health, McKesson,
Availity, LLC, UNITED BIOSOURCE LLC, KYRUUS, Cerner Corporation, MEDHOST, and
FormFast are prominent names in the global patient access solutions market.
Industry News
Patient Access Solutions, Inc., has decided
to try out a new strategy of acquiring local clinics in order to expand its
services. It will establish Integrated Health Centers in its place and focus on
patient care.
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