Population Health Management Market Size, Competitive Landscape and Market Forecast - 2030

Population Health Management Market is segmented By Component (Software and Services), By Mode of Delivery (Web-based, Cloud-based, and On-premise), By End-User (Healthcare Providers, Healthcare Payers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Population Health Management Market Overview

[150 Pages Report] Population Health Management Market is expected to grow at a CAGR 21.8% during the forecasting period (2023-2030). Population health management is the aggregation of patient data across multiple resources, analyzing and grouping into a single, actionable patient record

Population Health Management Market Summary and Scope

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Population health management is the aggregation of patient data across multiple resources, analyzing and grouping into a single, actionable patient record. This helps the healthcare providers to improve both clinical and financial outcomes. Population health management solutions enable stakeholders in the healthcare sector to deliver patient-centric care and help in curtailing the high costs associated with healthcare by reducing readmissions, ensuring that only appropriate and optimum interventions are provided to patients.

Population Health Management Market Dynamics and Trends

The global population health management market growth is driven by the growing demand for healthcare IT services and solutions that support value-based healthcare delivery, resulting in a transition from Fee-For-Service (FFS) to a Value-Based Payment (VBP) model.

Need to curtail escalating healthcare costs will drive the market growth    

The overall cost of healthcare delivery has grown significantly over the past few decades. Factors such as increasing health insurance premiums, the growing demand for quality healthcare services, the rising number of elderly people, and the growing incidence of chronic disorders drive the demand for healthcare services across the globe. The high expenditure on healthcare services is patient readmissions, medical errors, and administration costs. According to the UN Population Division, the global aging population is expected to increase from 880 million in 2011 to 2 billion by 2050, representing 22% of the world’s population. If left unchecked, healthcare spending will increase by 25% by 2030, largely because of the aging population.  

Governments and healthcare systems across the globe are focusing on controlling the rising healthcare costs with the effective utilization of PHM solutions. The successful adoption and implementation of these solutions are expected to save billions of dollars for healthcare systems worldwide. The US Department of Health and Human Services estimates that the widespread adoption of healthcare IT solutions will result in annual savings of USD 80–100 billion by automating care delivery systems and another USD 100 billion by reducing medical errors and wastages across the healthcare system.

High investments in infrastructure to set up a robust PHM program is likely to hamper the market growth  

However, population health management is a capital-intensive market. Presently, a majority of healthcare providers across the globe have the inadequate infrastructure, which includes technology, staff, data, and other resources to manage complex healthcare cases. To manage an entire population, providers need to heavily invest in infrastructural development. In terms of IT infrastructure, investments are required for increasing storage and processing capabilities. Web-based and mobile tools such as android and iOS apps need to be developed to ensure patient participation and health information exchange. The investments required to develop this infrastructure will pose a serious restraint to the already strained financial resources of healthcare providers.

COVID-19 Impact Analysis on Population Health Management Market

Due to the COVID-19 outbreak, medical practices of all sizes are under immense pressure, and healthcare facilities worldwide have been overwhelmed by the large number of patients visiting them daily. The increasing prevalence of COVID-19 has driven the demand for accurate diagnosis and treatment devices in several countries. In this regard, population health management solutions have proven to be very helpful, as they allow healthcare providers to seamlessly integrate solutions such as EHR, patient management, and care management to healthcare payer solutions such as claim management and payment management solutions. Moreover, the rapid spread of this disease worldwide has resulted in lockdowns and restrictions, increasing the demand for electronic data transfer and claim management. This is expected to increase the adoption of population health management in the forecast period. 

Population Health Management Market Segment Analysis

The cloud-based segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)        

The cloud-based segment holds the largest share in the population health management market, due to a rise in the number of benefits, such as low licensing and startup costs, low costs of maintenance and infrastructure requirements, and wider accessibility. In addition, a cloud-based population health management system provides enhanced productivity and fast and smooth implementation. Hence the cloud-based delivery model is expected to witness the fastest growth during the forecast period.

Population Health Management Market Geographical Share

North America region holds the largest market share of the global population health management market

North America is expected to hold a leading position in the population health management market during the forecast period. The factors, such as favorable regulatory scenario, pressure on healthcare institutions to reduce costs, and rising trends in healthcare IT, big data and cloud computing, well-established healthcare infrastructure, continuous reforms by governments, and the increasing diseased patient burden are driving the growth of the population health management market in the regions. For instance, the US government implemented the Affordable Care Act (ACA) for the prevention of diseases and the adoption of healthcare IT. The ACA will boost the growth of the population health management market and create opportunities for population health management service providers to collect and maintain patients’ data.

Increasing healthcare expenditure and the rising need for value-based healthcare and effective disease management across different care settings are expected to drive the market in the U.S. More than 130 million people in the U.S. suffer from at least one chronic condition. Chronic conditions are responsible for around 70% of deaths in the U.S. each year, killing 1.7 million Americans. Managing comorbidities is challenging due to the large target population in the region. Implementing population health management can help identify unwell patients and improve disease prevention and management, leading to financial savings. To encourage the adoption of population health management systems, the Centers for Medicare & Medicaid Services (CMS) has introduced the Value-Based Payment Modifier. It provides differential payment to a group of physicians based upon the quality of care provided as opposed to the cost of care during their performance period. 

Population Health Management Companies and Competitive Landscape

The population health management market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Allscripts Healthcare Solutions Inc., Cerner Corporation, Conifer Health Solutions, Epic Systems Corporation, International Business Machines Corporation (IBM), Health Catalyst,   Koninklijke Philips NV, Mckesson Corporation, Optum Inc., and Verisk Analytics, Inc among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the population health management market globally. For instance, in March 2021, Phillips Healthcare partnered with an open doctor. This partnership is aimed at delivering an integrated radiological patient engagement platform that leverages open doctors’ real-time online appointment scheduling services as part of Philips’ Patient Management Solution.  

Cerner Corporation

Overview:

Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and technology-enabled services that support the clinical, financial, and operational needs of organizations. The Company's segments include Domestic and International.

Product Portfolio:

dbMotion:  dbMotion is an interoperability platform that organizations can use to succeed in delivery system reform and the shift to value-based care. With dbMotion, the organization can integrate discrete patient data from diverse care settings, regardless of IT supplier, into a single patient record. dbMotion provides a longitudinal patient record with semantically normalized data, point of care tools, and an analytics gateway. This reduces the cost of care delivery, enables physicians to provide more informed patient care, and drives clinical outcomes.

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