Healthcare Claims Management Market by Component (Software, and Services), Delivery Mode (On-Premise, and Cloud Based), Type (Integrated, and Standalone), End User (Healthcare Payers, Providers) - Global Forecast to 2023
-:Market Dynamics:❖ Market Drivers: • Increasing Patient Volumes • Expanding Health Insurance Market • Process Improvements in Healthcare Organizations • Growing Importance of Denials Management • Declining Reimbursement Rates ❖ Market Restraints: • High Cost of Deployment ❖ Market Opportunities: • Emerging Countries • Cloud-Based Solutions • Artificial Intelligence in Health Insurance • Rising Adoption of Electronic Health Records ❖ Market Challenges: • Integration of Claim Management Solutions • Data Breaches and Loss of Confidentiality • Lack of Skilled It Professionals in Healthcare
The key factors driving the growth of this market are increasing patient volumes, expanding health insurance market, growing importance of denials management, and declining reimbursement rates.
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-:Global Industry Segmentation:By type, integrated solutions are expected to account for the largest share of the market in 2018
On the basis of type, the healthcare claims management market is broadly segmented into integrated solutions and standalone solutions. In 2018, the integrated solutions segment is expected to account for the largest share of this market. The high growth in this segment can be attributed to increasing demand for integrated solutions, which play an integral role in improving process efficiency and reducing costs.
Based on delivery mode, the healthcare claims management market is segmented into on-premise and cloud-based. The cloud-based segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the comparatively lower capital expenses and operational costs incurred along with better scalability, flexibility, and affordability.
By end user, the healthcare payers segment is expected to command the largest share of the market in 2018
On the basis of end user, the market has been segmented into healthcare payers, healthcare providers, and other end users. The payers segment is expected to command the largest share of the market in 2018. The large share of this segment can be attributed to the mandate for insurance companies to meet the regulatory requirements and reduce unnecessary penalties and punishments.
North America to dominate the market in 2018
The geographic segments in this report include North America, Europe, Asia, and the Rest of the World. Of these, the North American market is expected to account for the largest share of the market in 2018. The large share of North America can be attributed to the high and growing HCIT investments in the region and the presence of regulatory mandates favoring the implementation of healthcare claims management solutions. Also, several major global players are based in the US, owing to which the US has become a center for innovation in the healthcare claims management solutions market.
Asia is expected to grow at the highest CAGR during the forecast period of 2018–2023. Factors such investments to modernize the healthcare infrastructure and growing adoption of healthcare IT solutions in China, measures to boost the quality of healthcare delivery in Japan, and rapid growth of the healthcare industry in India are contributing to the high growth in Asia during the forecast period.
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-:Scope of the Report:The research report categorizes the healthcare claims management market into the following segments and sub segments: Healthcare Claims Management Market, by Component •
Software
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Services
Healthcare Claims Management Market, by Type •
Integrated Solutions
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Standalone Solutions
Healthcare Claims Management Market, by Delivery Mode •
On-premise
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Cloud-based
Healthcare Claims Management Market, by End User •
Healthcare Payers
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Healthcare Providers
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Other End Users
Healthcare Claims Management Market, by Region •
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North America o
US
o
Canada
Europe o
UK
o
Germany
o
France
o
Italy
o
Rest of Europe (RoE)
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Asia
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RoW
Available Customizations With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report: By Component •
Further breakdown of the software and services segment of the healthcare claims management market
Geographic Analysis •
Further breakdown of the Asian countries China, Japan, India, and Rest of Asia
Company Information •
Detailed analysis and profiling of additional market players (Up to 5)