London, UK -- (SBWIRE) -- 06/29/2018 -- The Global Healthcare Quality Management Market is accounted for $1.62 billion in 2016 and expected to grow at a CAGR of 16.0% to reach $4.59 billion by 2023.
The market is driven by increasing volume of unstructured data in the healthcare industry, need to curtail healthcare costs & medical errors, government mandates for healthcare providers to report quality and improve performance. However, high cost of quality reporting and data security concerns will hamper market growth. Further, dearth of skilled IT professionals and reluctance among medical professionals to adopt healthcare quality management software will pose threat to the industry. In addition, the market will observe few trends such as potentiality in emerging economies, introduction of HL7 QRDA-III STU R2.1 guidelines & ICD 10, Natural Language Processing (NLP) technique to revolutionize data abstraction.
Some of the key players of the Healthcare Quality Management market include:
Altegra Health, Cerner Corporation, Citiustech Inc., Dolbey Systems, Inc. , Enli Health Intelligence, McKesson Corporation, Medisolv, Inc., Nuance Communications, Inc., Premier, Inc., Quantros, Inc., Truven Health Analytics (A Subsidiary of IBM Watson Health) and Verscend Technologies.
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For healthcare providers, analytics and insights make the difference in tomorrow's clinical outcomes. The need to understand healthcare data and to draw insights and correlations from BI & Analytics continues to grow. With increasing data volumes, disparate data sources, and a lack of resources, reporting actionable insights from the hospital floor is presumed difficult but the healthcare sector has become a constant progressing sector. For example, Piedmont launched a collaborative initiative called Patient First to allow physicians to focus attention on one patient centered activity at a time. Also, a Late-Binding™ data warehouse provides not only faster time to value, but also the agility necessary to meet today's healthcare analytics demands.
Data Processing & Analysis is attributed to the increasing volume of disparate data and the requirement of quality-based reports by regulatory bodies. Electronic Health Record (EHR) is important for data processing, communication, efficiency and effectiveness of patients' information access, confidentiality, ethical and/or legal issues. Many countries have been complaining for incompleteness, inappropriateness and illegibility of records. Therefore creating awareness on the magnitude of the problem has paramount importance. In many cases, the elderly population suffers from multiple chronic conditions simultaneously. Such socio-demographic and epidemiologic challenges place increasing pressure on the health sector, calling for better prevention and more effective management of chronic diseases.
Based on End users, some of the often mentioned trends have been accountable care organizations (ACOs), the formation of large hospital health systems, and the continuation of private insurance coverage by self-funded employers. However, the marketplace had undergone many subtle changes that began before the ACA, which only accelerated after its passage. As an example, Memorial Hermann Physician Network and Blue Cross Blue Shield of Texas are developing an ACO for 100,000 patients. Memorial Hermann Health System is hedging its bets, because it also has an ACO relationship with Aetna and a medical home model with Humana. The trends that will increasingly impact multiple healthcare stakeholders over the next few years include: revenue-driving consolidation, specialty drug use driving the cost of care and information technology innovations driving interstakeholder communications etc,.
Furthermore, consumption market share for each application is offered in the research for 2017 in a tabular format. Regional analysis is discussed in terms of current market status and growth prospects for the period, 2012–2023. Geographies analyzed in the study are North America, Europe, Asia Pacific, South America and Middle East & Africa. Statistics on revenue and growth rate for each region are mentioned with the help of figures for the historic period and the forecast period.
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Delivery Modes Covered:
- Web & Cloud Based Solutions
- On-Premise Solutions
- Physician Quality Reporting Solutions
- Business Intelligence and Analytics
- Provider Performance Improvement Solutions
- Clinical Risk Management Solutions
- Risk Management
- Data Management
End Users Covered:
- Ambulatory Care Centers
- Accountable Care Organizations (ACOs)
- Other End Users
Table of Contents
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Healthcare Quality Management Market, By Delivery Mode
6 Global Healthcare Quality Management Market, By Type
7 Global Healthcare Quality Management Market, By Application
8 Global Healthcare Quality Management Market, By End User
9 Global Healthcare Quality Management Market, By Geography
10 Key Developments
11 Company Profiling
11.1 Altegra Health
11.2 Cerner Corporation
11.3 Citiustech Inc.
11.4 Dolbey Systems, Inc.
11.5 Enli Health Intelligence
11.6 McKesson Corporation
11.7 Medisolv, Inc.
11.8 Nuance Communications, Inc.
11.9 Premier, Inc.
11.10 Quantros, Inc.
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