Healthcare Quality Management Market Size, Share & Segment By Software Type (Business Intelligence & Analytics Solutions, Physician Quality Reporting Solutions, Clinical Risk Management Solutions, Provider Performance Improvement Solutions), By Delivery Mode (Web-& Cloud-based Solutions, On-premise Solutions), By Application (Data Management, Unstructured Data Abstraction, Data Processing & Analysis, Report Generation, Report Submission, Risk Management), By End User (Hospitals, Ambulatory Care Centers, Payer, ACOs), by Regions and Global Forecast 2022-2028
Pune, Maharashtra -- (SBWIRE) -- 09/28/2022 -- Healthcare Quality Management Market Size was valued at USD 3.01 billion in 2021 and is expected to reach USD 7.91 billion by 2028, and grow at a CAGR of 14.8% over the forecast period 2022-2028. The healthcare industry has experienced rapid growth in recent years because to several product introductions and breakthroughs. Specifically in the management of the delivery of healthcare services, healthcare quality management is a method that uses a systematic evaluation to improve the quality of products and services to produce better results. Additionally, the market for healthcare quality management is expanding and gaining substantial traction on a global scale. The goal of healthcare quality management is to increase patient happiness and treatment efficacy. Despite the fact that many hospitals generate a lot of data, it is challenging to tie this data to medical big data research and the artificial intelligence sector of the healthcare industry.
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Drivers, Restraints, Opportunities and Challenges
Some of the reasons driving the healthcare quality management market growth are the rising adoption of information systems by hospitals and healthcare institutions, the enormous market potential in emerging economies, and the beneficial measures done by several governments globally. One of the key factors driving market expansion is the increasing demand for trustworthy technical solutions that are integrated into high-quality care. However, constraints including the expensive cost of high-quality reporting and worries about data security are limiting industry expansion. The market's expansion is, however, also being hampered by more expensive quality reporting systems and data security problems related to quality management software.
Impact of the COVID-19 Pandemic
COVID-19 has had a substantial influence on quality and compliance management due to the restrictions of fewer outpatient visits and social isolation. There is much less patient traffic going to hospitals and medical facilities. Healthcare quality management software will help businesses recover from the coronavirus's effects after the pandemic, enabling them to handle risk management and other operational difficulties more effectively. This is projected to drive the market in the forecast future.
By Software Type
1.Business Intelligence & Analytics Solutions
2.Physician Quality Reporting Solutions
3.Clinical Risk Management Solutions
4.Provider Performance Improvement Solutions
By Delivery Mode
1.Web-& Cloud-based Solutions
2.Unstructured Data Abstraction
3.Data Processing & Analysis
By End User
2.Ambulatory Care Centers
Business intelligence and analytics solutions dominated the global market in terms of software type. Government initiatives to support value-based care and an increase in the demand for high-quality healthcare are propelling the market for business information & analytics solutions.
On-premise delivery accounted for the biggest market share. Due to the advent of digitization, many large enterprises are switching from manual to automated systems, which has raised the demand for on-premise QMS.
With the growing volume of unconnected data and regulatory bodies' need for quality-based reporting, the data management application accounts for a sizeable portion of the healthcare quality management market.
The North American region dominated the market due to its well-established healthcare system, higher acceptance of cutting-edge technologies, the implementation of the Patient Protection and Affordable Care Act in the United States, advancing IT & big data capabilities, strict legislative and accreditation requirements regarding healthcare quality reporting, and the switch from fee-for-service to value-based reimbursements. The market in the Asia Pacific area will be driven by an increase in the amount of unstructured data in the healthcare sector, government regulations requiring healthcare providers to report quality and improve the performance of treatment delivered, and an increase in healthcare spending.
The healthcare quality management market in Europe is likely to benefit from the region's improved product and service availability as well as the rapidly accelerating pace of technical advancement.
Competitive Landscape Outlook
Some of the leading players present in the healthcare quality management market are Premier, Inc., Dolbey Systems, Inc., Surescripts, LLC., Altegra Health, Inc., Medisolv, Inc., CitiusTech Inc., Truven Health Analytics, Cerner Corp., and Quantros, Inc.
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Table Of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine-Russia War
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
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