Major Growth Boosters:
The key factors driving the growth of healthcare claims management market are increasing patient volumes, expanding health insurance market, growing importance of denials management, and declining reimbursement rates.
Expected Growth in Revenue Generation:
The healthcare claims management market is expected to reach USD 13.93 billion by 2023 from an estimated USD 10.77 billion in 2018, at a CAGR of 5.3%.
Research Methodology Followed for This Research:
Top-down and bottom-up approaches were used to validate the size of the global healthcare claims management market and estimate the size of other dependent submarkets. Various secondary sources such as associations like the World Health Organization, Centers for Disease Control and Prevention, American Society for Metabolic and Bariatric Surgery, International Federation for the Surgery of Obesity And Metabolic Disorders, European Association for the Study of Obesity, Australian Institute of Health and Welfare, directories, industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of healthcare claims management market.
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By type, integrated solutions are expected to account for the largest share of the market in 2018
On the basis of type, the healthcare claims management market is broadly segmented into integrated solutions and standalone solutions. In 2018, the integrated solutions segment is expected to account for the largest share of this market. The high growth in this segment can be attributed to increasing demand for integrated solutions, which play an integral role in improving process efficiency and reducing costs.
By end user, the healthcare payers segment is expected to command the largest share of the market in 2018
On the basis of end user, the healthcare claims management market has been segmented into healthcare payers, healthcare providers, and other end users. The payers segment is expected to command the largest share of the market in 2018. The large share of this segment can be attributed to the mandate for insurance companies to meet the regulatory requirements and reduce unnecessary penalties and punishments
North America to dominate the market in 2018
North America is expected to account for the largest share of the healthcare claims management market in 2018, followed by Europe. The large share of North America can be attributed to the high and growing HCIT investments in the region and the presence of regulatory mandates favoring the implementation of healthcare claims management solutions. Also, several major global players are based in the US, owing to which the US has become a center for innovation in the healthcare claims management solutions market.
Cerner Corporation (US), McKesson Corporation (US), athenahealth (US), eClinicalWorks (US), Optum, Inc, (US), Conifer Health Solutions (US), and nThrive (US) are the key players in the healthcare claims management solutions market. Other players involved in this market are DST Systems (US), Cognizant Technology Solutions (US), Allscripts Healthcare Solutions, Inc. (US), Context 4 Healthcare (US), Health Solutions Plus (US), GE Healthcare (US), RAM Technologies (US), Quest Diagnostics (US), The SSI Group (US), PLEXIS Healthcare Systems (US), and GeBBS Healthcare Solutions (US).
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