Patient access solutions include software and services that
help healthcare organizations to maintain their financial balance by reducing
operational costs and minimizing claims rejection. These solutions are used to
verify a patient’s insurance coverage eligibility, enable efficient claims
processing, and manage medical necessity & denials.
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What This Report Will Provide?
This study involved four major activities for estimating the
current size of the Patient access solutions market. Exhaustive secondary
research was conducted to collect information on the market and its peer and
parent markets. The next step focused on validating these findings,
assumptions, and sizing with industry experts across the value chain through
primary research. Revenue Share Analysis, Parent Market, and top-down
approaches were employed to estimate the complete market size. After that,
market breakdown and data triangulation were used to estimate the sizes of
segments and sub-segments.
[145 Pages Report] The patient access solutions market is
expected to reach USD 1.74 Billion by 2022 from an estimated USD 1.14 Billion
in 2016, at a CAGR of 7.6%.
Regulatory compliance encouraging the use of patient access
solutions, increasing patient volume and the subsequent growth in the demand for
health insurance, growing importance of denials management, declining
reimbursement rates, and the need to curtail escalating healthcare costs are
the major factors driving the growth of the patient access solutions market.
The base year considered for the study is 2016 and the forecast period includes
2017 to 2022.
The report analyzes the global patient access solutions
market by product & service, delivery mode, end user, and region. On the
basis of product & service, the services segment accounted for the largest
share of the global patient access solutions market in 2016. The introduction
of complex software and the need for system integration are expected to boost
the services market in the near future.
Based on delivery mode, the patient access solutions market
is classified into web & cloud-based solutions and on-premise solutions.
The web & cloud-based solutions segment accounted for the largest share of
the patient access solutions market in 2016. The flexibility of working from
remote areas, affordability, and automated updating features are some of the
factors attributing to the larger share of the web & cloud-based solutions
segment.
By end user is segmented into healthcare providers,
Healthcare IToutsourcing companies, and other end users. In 2016, the
healthcare providers segment accounted for the largest share of the market. The
high share of this segment is mainly attributed to the growing healthcare IT
adoption, increasing healthcare costs, significant growth in healthcare
spending worldwide, and declining reimbursement rates.
Recent Developments:
·
In October 2019, Cerner signed an agreement to
acquire AbleVets.
·
In July 2019 RxCrossroads by McKesson launched
AMP: Access for More Patients, a patient support solution.
·
In July 2019, Cognizant and Medidata signed an
agreement to develop new solutions for pharmaceuticals
·
In April 2019, Experian Health and Change
Healthcare partnered.
·
In 2017, Optum acquired the healthcare division
of The Advisory Board.
The geographical regions mapped in the report are:
North America’s large
share in the global market is attributed to factors such as stringent
regulations, increasing government support for improving healthcare
infrastructure, the need for reducing healthcare costs, increasing volume of
claims denials, high number of private healthcare payers and well-established
government payers, and the presence of a large number of healthcare IT
companies.
Some key players mentioned in the research report are: Prominent players in the patient access
solutions market are McKesson (US), Epic Systems (US), Cerner (US), Cognizant
(US), Experian plc (Ireland), Optum (US), Conifer Health (US), The Advisory
Board (US), 3M (US), Craneware (UK), The SSI Group (US), ZirMed (US), Cirius
Group (US), and AccuReg Software (US).