Global Value-based Healthcare Services Market is Segmneted By Model (Accountable Care Organization (ACO), Patient-Centered Medical Home (PCMH), Pay for Performance (P4P), Bundled Payments), By Deployment (Cloud-based, On-Premise), By Platform (Standalone, Integrated), By Application (Hospitals and clinics, Insurance Companies, Government Organizations, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Value-based Healthcare Services Market Overview
Global Value-based Healthcare Services market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.
Value-based healthcare aims to provide lower costs, increased access to care, and create work efficiency for the patients. It rewards healthcare providers for providing quality care to patients. These services are extensively used nowadays due to new foundational strategies in advancing value-based care for patients suffering from chronic illness.
Value-based Healthcare Services Market Scope
|
Metrics |
Details |
|
CAGR |
YY% |
|
Market Size Available for Years |
2022-2031 |
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Estimation Forecast Period |
2024-2031 |
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Revenue Units |
Value (US$ Mn) |
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Segments Covered |
Model, Deployment, Platform, Application |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Largest Region |
North America |
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Fastest Growing Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Value-based Healthcare Services Market Dynamics: Drivers & Restraints
Increasing adoption of value-based healthcare
Value-based healthcare involves huge data collection and analysis, which allows better treatment at low cost. The transformation of fee-for-service to value-based care is necessary due to rising healthcare costs. The burden is huge on patients and hence, the shift to value-based healthcare is increasing and so are the services from different companies providing different platforms for physician groups and patients.
For instance, according to Global Healthcare Exchange, LLC., one of the biggest players in the healthcare market, Optum stated that it treated 4M people in accountable care models in 2023, an increase from the 1.8M patients it treated in these programs in 2022.
Increasing innovations by companies also drive the market. For instance, in October 2023, QHSLab, Inc., released its year-to-year accomplishments in digital healthcare with achievements in patient-centric innovations and advancements in behavioral healthcare.
Challenges with Value-based care
Fee for service is easier to manage by healthcare providers when compared to value-based healthcare services. It is administratively complex and creates an additional burden on healthcare providers. It requires the necessary infrastructure to deliver high-quality care to patients which bear high costs most of the time. If the quality measures aren't met by healthcare providers they can be penalized.
Value-based Healthcare Services Market Segment Analysis
The global value-based healthcare services market is segmented based on model, deployment, platform, application and region.
Cloud-based deployment segment is expected to dominate the market
Cloud-based technology is expected to hold the largest segment in the market. Due to the implementation of cloud-based technology everywhere because of its efficiency in the healthcare industry. Market developments by key companies such as collaborations and product launches drive the value-based market in the forthcoming period.
For instance, in August 2023, Veritas Technologies, a leader in cloud management data, launched the Veritas Managed Service Provider Program. It is a purpose-built program that offers managed service providers (MSPs) flexible pricing models with a wide range of training to expand their offerings.
In May 2023, Telefónica Tech and 3M launched a pioneering technological solution based on artificial intelligence. It is mainly focused on improving the data-driven decision-making of healthcare professionals.
Value-based Healthcare Services Market Geographical Analysis
North America is Expected to Dominate the Global Market
North America is expected to hold the largest share of the market due to the high healthcare expenditure in the US. For instance. according to the Health Affairs Journal, healthcare expenditure in the US increased to 4.1% to reach $4.5 trillion in 2022 which was much faster when compared to 2021 and 2020.
Due to the shift towards value-based healthcare services in the US to reduce the cost of overall healthcare expenditure, new funding and purchasing models are extensively being adopted by the United States.
Key Developments
- In January 2024, Arbital Health, a startup based on accelerating the healthcare industry's transition to value-based care acquired Santa Barbara Actuaries, Inc. and $10 million in series led by digital healthcare investor Transformation Capital.
- In April 2023, 3M Health Information Systems collaborated with Amazon Web Services (AWS) to advance the 3M M*Modal ambient intelligence.
- In December 2023, Better Health Group received $175 million in financing to Expand the Value-based Care Network.
Competitive Landscape
The major global players in the value-based healthcare services market include Genpact Limited, Boston Consulting Group, Siemens Healthineers AG, McKesson Corporation, Deloitte Touche Tohmatsu Limited, Veritas Technologies LLC, 3M, Hitachi Solutions, Koninklijke Philips N.V., Nxgn Management, LLC. among others.
Why Purchase the Report?
- To visualize the global value-based healthcare services market segmentation based on model, deployment, platform, application and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of value-based healthcare services market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global value-based healthcare services market report would provide approximately 66 tables, 69 figures and 186 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
