The global Accountable Care Solutions market is expected to register a CAGR of 16% during the forecast period, 2018 to 2023. The changing government regulations, supportive IT infrastructure are expected to support the growth of the market.
Government Regulations and Initiatives to Promote Patient-Centric Care
Patient-centered care ensure that the patients are part of decision-making along with other stakeholders involved in care. Technologies are built for transfer of personalized data and interactions prompted by the patient and managed by both the patient and provider. The government makes payments to healthcare providers is based on the healthcare outcome to improve quality, reduce costs and safety.
The advanced technology and infrastructure support built around the healthcare for seamless transfer of data is helpful in taking quick decision making and reduce the costs. The Patient-Centric Care will allow the identify the underlying driving costs of each of the allocated resources
The other factors such as rising need to curtail escalating healthcare costs, advancing IT and big data capabilities, and increasing number of accountable care organizations are driving the Accountable Care Solutions Market.
Data Privacy and Confidentiality Concerns
Accountable care is a coordinated care provided to patients while avoiding duplication of services. An integrated coordination of the all the stakeholders involved in delivering the care is necessary. It involves healthcare service providers: electronic medical records (EMRs), analytics, IT services, payment services, claims management, Support and Maintenance Services etc.
In recent times electronic medical records (EMRs) adoption is a major transformation in healthcare. All the infrastructure and support services has a key role to play in maintenance and security of the patient data. Yet healthcare records are among the most prone to theft as the worth of medical information is more than the credit card data. The growing cyber-attacks in healthcare are due to not complying with HIPPA privacy rule and improper data encryption to safeguard the data.
The Ponemon Institute that conducts independent research on privacy, data protection and information security policy states that the healthcare data breach cost USD 6.2 billion per year. Almost 90% of healthcare organizations are prone to data theft.
With growing concern over risk of unauthorized use or access to healthcare databases the healthcare consulting companies are under pressure as they have to create enough confidence to prospective healthcare providers. The above is a major factor that has restrained the growth of the Accountable Care Solutions Market.
High investments required for supporting infrastructure is another factor that is responsible to hinder the market growth.
US Lead the Market in North America Region
The US Accountable Care Solutions Market holds the largest market share in 2017 in North America region due to the changing healthcare regulations.
The accountable care organizations (ACOs) were set up in an attempt to improve care and reduce growing costs. In United States the government wants all the hospitals to adopt accountable care model which helps aligning all the physicians across care settings. With this model care can be provided in a cost efficient manner and improve population health. With healthcare spending and governments burden to provide services through Medicare and Medicaid Services (CMS) the government want to reduce the cost structure.
With a push toward value based care by government, and its initiatives for adoption by all healthcare providers, the market for Accountable Care Solutions may see a significant growth.
Key Developments in the Market
• May 2018: Columbus Regional Healthcare System (CRHS) has selected Cerner to implement a new integrated electronic health record (EHR) and revenue cycle solutions across its acute and ambulatory facilities.
Major players: ATHENAHEALTH, CERNER CORPORATION, MCKESSON CORPORATION, ZEOMEGA INC, UNITEDHEALTH GROUP, ECLINICALWORKS, EPIC SYSTEMS, CONSTELLATION SOFTWARE, ALLSCRIPTS HEALTHCARE SOLUTIONS, AND VERISK HEALTH, INC among others.
Reasons to Purchase this Report
• Current and future Accountable Care Solutions Market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3-month analyst support along with the Market Estimate sheet (in Excel)
Customization of the Report
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Degree of Competition
6. Market Dynamics
6.1 Market Drivers
6.1.1 Government Regulations and Initiatives to Promote Patient-Centric Care
6.1.2 Rising Need to Curtail Escalating Healthcare Costs
6.1.3 Advancing IT and Big Data Capabilities
6.1.4 Increasing Number of Accountable Care Organizations
6.2 Market Restraints
6.2.1 Data Privacy and Confidentiality Concerns
6.2.2 High Investments Required for Supporting Infrastructure
7. Market Segmentation
7.1 By Product & Service
7.1.1 Electronic Health/Medical Records
7.1.2 Healthcare Analytics
7.1.3 Revenue Cycle Management Solutions (RCM)
7.1.4 Claims Management Solutions
7.1.5 Payment Management Solutions
7.1.6 Support and Maintenance Services
7.2 By Deployment
7.3 By End User
7.3.1 Healthcare Providers
7.3.2 Healthcare Payers
7.4 By Geography
7.4.1 North America
18.104.22.168 United states
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
7.4.4 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
7.4.5 South America
22.214.171.124 Rest of South America
8. Competitive Landscape and Competitive Intelligence
8.1 Allscripts Healthcare Solutions
8.3 Cerner Corporation
8.4 Constellation Software
8.5 Eclinicalworks, LLC
8.6 EPIC Systems
8.7 Mckesson Corporation
8.8 Unitedhealth Group
8.9 Verisk Health, Inc.
8.10 Zeomega Inc
* List Not Exhaustive
9. Future of the Market
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.