Transparency Market Research Report Added "U.S. Population Health Management Solutions Market" to its database.
Albany, NY -- (SBWIRE) -- 12/07/2015 -- Population health management, or PHM, refers to the collection of overall data pertaining to patients from various health information technology resources. This data is then analyzed and collated into a patient record that is used for deciding the actions that care givers and governments should take to improve the overall quality of life. This meticulous service has garnered massive attention in recent years, especially in the U.S.
Market analysts, who had valued the U.S. population health management solutions market in the US$3.4 bn in 2014, are now expecting it to reach US$45.7 bn by 2023, at a CAGR of 23.9% from 2015 to 2023. The unique ability of population health management solutions to deliver promising outcomes at a lower cost will become the undercurrent for this remarkable growth.
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Population Health Management: An Essential Tool for Health Management
Population health management solutions group the patients depending on their health conditions, risk factors, health status, and so on for minimizing untimely and expensive medical interventions involving emergency surgeries, long period of hospitalizations, and tough invasive procedures and tests.
The U.S. population health management solutions market is segmented on the basis of source, mode of operation, and end users. The sources, based on which this market is segmented, are software and service. By mode of operation, the market features the following segments: web-based, cloud-based, and premise-based. Furthermore, the end users of population health management solutions in the U.S. are government insurance providers, health care providers, private insurance providers, pharmaceutical companies, medical device organizations, and others such as diagnostic and imaging centers, employers, and research institutes.
Cloud-based Population Health Management Systems Segment to Drive Market's Growth
Cloud-based population health management systems are expected to spearhead the U.S. population health management solutions market due to the integration of information technology in the healthcare sector. Furthermore, the population health management solutions services segment will also witness an upward trend in the coming years. However, the population health management solutions services segment will be led by the cloud-based population health management systems segment in the next few years.
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Adoption of Healthcare IT Leads to Progress of Cloud-based Population Health Management Systems
Cloud-based population health management systems will dominate the U.S. population health management solutions market due to the adoption of healthcare IT, springing pharmaceutical industry, and health insurance companies. This demand will also be fueled by a huge need for health management solutions across the U.S. The continuous help of these solutions to resolve the pressure on the U.S. health systems is also driving their adoption rate. Additionally, population health management tools also help in the management of vast databases to monitor and compare the overall clinical and financial results of population groups that are being studied.
Some of the important players in the U.S. population health management solutions market are Verisk Health, Conifer Health Solutions, Caradigm, NextGen Healthcare Information Systems, LLC, Health Catalyst, Healthagen LLC, International Business Machines (IBM) Corporation, Lumeris, Persivia, Premier, Inc., OptumHealth, Inc., The Advisory Board Company, ZeOmega, Inc, and Wellcentive, Inc. Most of these companies are constantly striving to devise innovative solutions to maintain a leading position in the highly competitive U.S. population health management solutions market.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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