Global Accountable Care Solutions Market - Segmented by Product & Service, Deployment, End User, and Geography - Growth, Trends, and Forecast (2022 - 2030)
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
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
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
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
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