Global Accountable Care Solutions Market To Grow At A CAGR Of 16.5% During The Forecast Period

11-Jul-2022 | Zion Market Research

The global accountable care solutions market was valued at $17.7M in 2021 and is projected to generate a market revenue of $43.5M by 2028 while growing at a CAGR of 16.5% during the forecast period.

Accountable care solutions are designed in a way that aligns enhanced quality, workflows in healthcare systems, improved patient safety, compliance with regulatory guidelines, and reduced expenses. The main foundation of accountable care solutions is the data collection and its analysis which can be used to track and enhance patient outcomes. The 1990s was known for its managed care solution which ran into problems lowering its feasibility owing to the lack of accurate predictability of health risks and the expenses without data analysis.

The most common method of fee-for-service generates profit through each transaction, however, it lacks the financial incentives for healthcare agencies to reduce the overall cost of medical treatments. But if the medical facility is penalized for providing expensive treatments for necessary medical care, the process becomes unreasonable. This is where the global accountable care solutions market comes into the picture as it makes sure that patients generate value for every penny spent on healthcare. The money may come from either the insurance providers or the patients, and the systems are run by the means of multiple financial reimbursement programs like capital payments of shared savings.

Covid-19 aided the shift of attention amongst healthcare providers and patients towards adopting accountable care solutions because of the various benefits associated with these solutions. Since Covid-19 impacted almost every country, the governments and private investors have now started showing keen interest in accommodating accountable care solutions in their medical care for improving patients' experience during the entire cycle of varying medical procedures.

Effective and affordable healthcare is not a luxury but the most basic necessity for any living being. The rising awareness of this fact has propelled the government to take necessary measures to make sure that proper healthcare is accessible to all and that patients are able to obtain the due value for the money they spend on medical treatments, and hence there are growing initiatives by official and unofficial healthcare regulatory bodies to create medical facilities that are more patient-oriented. These reasons are expected to aid the growth of the global accountable care solutions market during the projection period. There is also a significant growth in the adoption of IT in medical centers. Many IT players are now working on manufacturing advanced technologies which can be easily incorporated into accountable care solutions thus aiding global market expansion.

Global Accountable Care Solutions Market

Data security and the high cost of the initial set may restrain the global market growth during the forecast period. The growing number of medical cases and subsequent pressure on healthcare infrastructure is expected to provide lucrative growth opportunities in the global market.

Outsourcing of IT may also increase the overall expenses of the treatment facility thus creating challenging situations in the global market.

The global accountable care solutions market is segmented by delivery mode, product, end-user, and region.

By delivery mode, the global market segments are on-premise and cloud-based. The segment may be dominated by cloud-based delivery mode since it is showing promising signs of acceptance in the coming future.

Based on product the global market is segmented into services, healthcare provider solutions, and healthcare payer solutions where services may lead the segment owing to their rapid implementation in the healthcare sector.

Based on end-user the segments in the global market are providers and payers. The segment was led by healthcare provider solutions in 2021 owing to increased initiatives by the government for the promotion of e-records and patient-oriented solutions.

North America is projected to generate the highest revenue in the global accountable care solutions during the coming years just like in previous years which is majorly due to the financially rich countries like the USA and Canada. The governments of these regions have a higher capacity to spend on incorporating accountable care solutions in the already advanced healthcare infrastructure. The presence of multiple key market players in the region is also expected to aid regional growth. Asia Pacific is anticipated to grow at a higher rate than ever, because of growing medical tourism and the subsequent need to digitize as much medical data as possible and provide excellent medical care. The growing number of insurance agencies investing in accountable care solutions may propel regional growth.

The global accountable care solutions market is dominated by players like Mckesson Corporation, Zeomega Inc., Aetna, Inc., EPIC Systems Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., IBM Corporation, Verisk Health, Inc., Eclinicalworks, LLC., and UnitedHealth Group.

Recent Developments:

  • November 2020 witnessed a collaboration between Blue Cross and Blue Shield, a North Carolina-based firm. The collaboration was intended to launch a new accountable care organization that will be working with rural hospitals and community providers to provide better medical care to its beneficiaries.
  • In November 2019, the acquisition of Medfusion by NextGen Healthcare strengthened the portfolio of NextGen Healthcare especially in the ambulatory services segment while also providing enhanced medical information to its customers.

Browse the full Global Accountable Care Solutions Market By Delivery Mode (On-Premise and Cloud-Based), By Product (Services, Healthcare Provider Solutions, and Healthcare Payer Solutions), By End-User (Providers and Payers), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/accountable-care-solutions-market

Global accountable care solutions market is segmented as follows:

By Delivery Mode

  • On-Premise
  • Cloud-Based

By Product

  • Services
  • Healthcare Provider Solutions
  • Healthcare Payer Solutions

By End-User

  • Providers
  • Payers

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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