09 March 2021
Visiongain has published a new report on Accountable Care Solutions Market Report to 2031: Forecasts by Product & Service (Healthcare Provider Solutions (Electronic Health/Medical Records, Healthcare Analytics, Revenue Cycle Management Solutions (RCM), Patient Engagement Solutions, Population Health Management (PHM) Solutions, Care Management Solutions, HCIT Integration Systems, Healthcare Information Exchange (HIE), and Clinical Decision Support Systems (CDSS)) Healthcare Payer Solutions (Claims Management Solutions, Payment Management Solutions, Provider Network Management Solutions, and Other Payer Solutions) Services (Support and Maintenance Services, Implementation Services, Consulting Services, and Training & Education Services), By Delivery Mode (Web & Cloud-Based Delivery Mode and On-Premise Delivery Mode), By End User (Healthcare Providers and Healthcare Payers) PLUS COVID-19 Recovery Scenarios.
Global accountable care solutions market size is projected to reach US$ XX Million in 2021 and is expected to display strong revenue growth through to 2031.
COVID-19 Impact on Accountable Care Solutions Market
Visiongain has anticipated the impact of COVID-19 lockdown on the market value of global leaders, followers, and disrupters. As lockdown has been executed differently across the world, the impact of the unplanned lockdown is also different in the countries. Visiongain has analyzed the present short and long-term effects on the accountable care solutions market. This report will help to develop strategies for companies by region/countries.
Implementation of government rules & guidelines and initiatives to encourage patient-centric care is a key growth factor
The healthcare industry is experiencing a major revolution due to the increased force to offer profitable personalized care. The convergence of information technologies aid to push predictable consequences and advanced quality of care. Owing to this, there is a demand for accountable care solutions to ease innovation, synchronization, and assist to improve the superiority, safety of medical care delivery systems, and cost-efficacy. Moreover, these solutions help in maintaining clinical data repositories, EHR integration, patient-provider communications, terminology mapping, HIE interoperability, and patient engagement.
The growing geriatric population has raised the number of Chronic Diseases. The numerous schemes and plans outlined by the government bodies are making a patient-centric care atmosphere. As a result, there is a rivalry among the key players to capture the developing markets. To have competitive edge key players operating in the industry are more focused on value-based treatment which is expected to create lucrative opportunities in the given time frame.
The Growing Number of Accountable Care Organizations Fuels the Target Market Growth
Since 2010, there has been a sturdy growth in the number of Accountable Care Organization (ACOs) in the United States. According to the Public Health at Weill Cornell in 2015, the total number of private and Medicare Accountable Care Organization (ACOs) surpassed 700 for approximately 20 million people in the United States. Further, as per the Centers for Medicare & Medicaid Services (CMS), the total number of Accountable Care Organization has been growing by about 100 organizations per year. In addition to this, CMS also said that the number of ACOs joining in Medicare programs was 477. This includes 434 MSSP Accountable Care Organization, 21 NGACOs, 13 Comprehensive ESRD Care Model (CEC) Accountable Care Organization, and 9 Pioneer Accountable Care Organization. In April 2015, the Medicare ACOs were responsible for 8.9 million beneficiaries, up from 7.3 million. About 180,000 physicians and practitioners were involved in Medicare ACOs in the same year. As of now, there are 517 ACOs present for 11.2 million beneficiaries in the United States, as per the CMS January 2020. It includes 17,407 Participant TINs, 462,902 Physicians and non-Physicians, 1,431 Hospitals, 2,584 Federally Qualified Health Centers (FQHCs), 1,393 Rural Health Centers, and 445 Critical Access Hospitals. To attain their specific standards, Accountable Care Organization are progressively implementing accountable care solutions. In turn, it is expected to gain traction in the coming years.
Cloud-Based Technology is Transforming the Accountable Care Solution
The trend of implementation of cloud-based models is on the rise at a remarkable pace which is highly projected to fuel the target industry growth and offer stimulating opportunities in the years to come. Cloud analytics allows ACOs to integrate data from all sources and help to improve care and reduce the overall cost.
Moreover, the growing demand for healthcare analytics and electronic health record in the healthcare industry and the implementation of cloud computing across many industries are anticipated to have a positive impact on the target industry growth in the forecasted year.
Key players operating in the global Accountable Care Solutions market are Cerner Corporation, IBM Corporation, UnitedHealth Group, Aetna, Inc., Allscripts Healthcare Solutions, Inc., Epic Systems Corporation, McKesson Corporation, Verisk Health, ZeOmega, Inc., eClinicalWorks, Inc., and NextGen Healthcare.
The key players have adopted new product development, product launches, product approval, agreement, partnerships, and merger as its key business development strategies to tap into the Accountable Care Solutions market. For instance, in November 2019, Nextgen Healthcare entered into an acquisition agreement with Medfusion. This strategic partnership will help Nextgen Healthcare to offer a better experience for the consumer and will help to strengthen its product portfolio.
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