Patient access solutions include software and services that help healthcare organizations to maintain their financial balance by reducing operational costs and minimizing claims rejection. These solutions are used to verify a patient’s insurance coverage eligibility, enable efficient claims processing, and manage medical necessity & denials.
What the Market Looks Like?
The patient access solutions market is expected to reach USD 1.74 Billion by 2022 from an estimated USD 1.14 Billion in 2016, at a CAGR of 7.6%. Geographically, the global patient access solutions market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regulatory compliance encouraging the use of patient access solutions, increasing patient volume and the subsequent growth in the demand for health insurance, growing importance of denials management, declining reimbursement rates, and the need to curtail escalating healthcare costs are the major factors driving the growth of the patient access solutions market.
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What are Key Trends in the Market?
The growth of the Patient Access Solutions Market is primarily influenced by the following factors:
- Need to Maintain Regulatory Compliance
- Increasing Patient Volume and Subsequent Growth in the Demand for Health Insurance
- Growing Importance of Denials Management
- Declining Reimbursement Rates
- Rising Need to Curtail Healthcare Costs
The global patient access solutions market by end user is segmented into healthcare providers, Healthcare IT outsourcing companies, and other end users. In 2016, the healthcare providers segment accounted for the largest share of the market. The high share of this segment is mainly attributed to the growing healthcare IT adoption, increasing healthcare costs, significant growth in healthcare spending worldwide, and declining reimbursement rates.
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According to a new market research report "Patient Access Solutions Market by Product & Service (Eligibility Verification, Medical Necessity, Prior-authorization, Denial Management), Delivery Mode (Web & Cloud, On-premise), End User (Providers, Outsourcing Companies) - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to reach USD 1.74 Billion by 2022 from an estimated USD 1.21 Billion in 2017, at a CAGR of 7.6%.
Regulatory compliance encouraging the use of patient access solutions, increasing patient volume and the subsequent growth in the demand for health insurance, growing importance of denial management, declining reimbursement rates, and need to curtail escalating healthcare costs are the major factors driving the growth of the patient access solutions market.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownload.asp?id=280473Early buyers will receive 10% customization on this report"By product & service, the services segment accounted for the largest share of the patient access solutions market in 2016.
"On the basis of product & service, the services segment accounted for the largest share of the global patient access solutions market.
The introduction of complex software and the need for system integration are expected to boost the services market in the near future.Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=280473"By delivery mode, the web & cloud-based solutions segment accounted for the largest share of the patient access solutions market in 2016.
"On the basis of delivery mode, the web & cloud-based solutions segment accounted for the largest share of the global patient access solutions market.
Factors such as flexibility of working from remote areas, rising affordability, and features such as auto-upgradation are attributing to the larger share and high growth of the web & cloud-based solutions segment.
Exhaustive secondary research was conducted to collect information on the market and its peer and parent markets.
This study involved four major activities for estimating the current size of the Patient access solutions market.
The next step focused on validating these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Revenue Share Analysis, Parent Market, and top-down approaches were employed to estimate the complete market size.According to the new market research report ”Patient Access Solutions Market by product & service (Training services, Eligibility Verification, Medical Necessity, Pre-certification), Delivery Mode (Web & Cloud, On premise), End-User (Providers, HCIT Outsourcing Companies) – Global Forecast to 2025“,published by MarketsandMarkets™, global patient access solutions market is projected to reach USD 2.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 8.5%.Major Growth Drivers:Increasing patient volume and subsequent growth in the demand for health insurance, the growing importance of denials management, declining reimbursement rates, increase in the volume of unstructured data in the healthcare industry, and the rising need to curtail escalating healthcare costs are the major factors driving the growth of this market.
However, high deployment costs are expected to restrain the growth of this market to a certain extent.Expected Revenue Growth:[207 Pages Report] The global patient access solutions market is projected to reach USD 2.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 8.5%.COVID-19 Impact on the Patient access solutions MarketCoronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths.
It could be assumed that there is a drastic change in the size of the Patient access solutions market.Browse in-depth TOC on “Patient Access Solutions Market”103 – Tables58 – Figures207 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=280473Services segment to have the largest share in 2019Based on product and service, the patient access solutions market is segmented into services and software.
Global Patient Access Solutions Market Research Report: Information by Service (Support & Maintenance and Implementation), Software (Eligibility Verification Software and Medical Necessity Management Software,), End User & Region—Global Forecast till 2024Market Highlights:The global patient access solutions market is expected to register an approximate CAGR of 7.5% during the forecast period of 2019–2024.Significant advances in patient access solutions have taken place in the last decades.
Technological advancements in terms of accuracy, portability, and affordability have resulted in the increased use of these solutions.
The last decade has witnessed manufacturers introducing new generation patient access solutions that link patient’s data and health observations with artificial intelligence to influence medical decisions by clinicians for an improved and accurate diagnosis.
Similarly, advanced patient access solutions have seen a positive growth curve as users are opting to upgrade patient access solutions which include premium functions such as treatment planning protocol, patient record management, protocol validation, reasoning based models, and health economics management.
Intended AudienceHealthcare ProvidersHealthcare IT CompaniesMedical Research LaboratoriesMarket Research and Consulting Service ProvidersAvail a Free Sample@ https://www.marketresearchfuture.com/sample_request/7811SegmentationThe global patient access solutions market is segmented on the basis of service, software, delivery mode, end user, and region.On the basis of service, the global patient access solutions market is segmented into support & maintenance, implementation, training & education.
By software, the global patient access solutions market is categorized into eligibility verification software, medical necessity management software, pre-certification & authorization software, claims denial & appeal management software, payment estimation software, medical claims payment processing software, and others.
The scope of Patient Access Solutions Market report can be broadened from market scenarios to comparative pricing between major players, cost and profit of the specified market regions.
When every business is competing to win the race, market research report is one of the major factors that will help to succeed.
The report provides explanation about market trends, future prospects, market restraints, leading market drivers, market segments, key developments, key players in the market, and competitor strategies.
Global Patient Access Solutions Report is very consistent as all the data and information regarding the Patient Access Solutions industry is derived via authentic sources such as websites, journals, annual reports of the companies, and magazines.Under competitive analysis section of the Patient Access Solutions marketing report, major key players existing in the market are revealed along with different details such as company profiles, their market share analysis, and their diverse strategies which make them prosper in the market.
This market report also provides notable data, present market trends, future events, market environment, technological innovation, forthcoming technologies and the technical advancement in the relevant industry.Get Download Free Sample Copy @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-patient-access-solutions-marketThis market report is a wide-ranging and object-oriented which is framed after the combination of an admirable industry experience, talent solutions, industry insight and most modern tools and technology.
Global Patient Access Solutions Market report describes the categorization by companies, region, type and end-use industry.Winning Patient Access Solutions Market report is built by chewing over several fragments of the present and upcoming market scenario because an utter way to forecast what future holds is to comprehend the trend today.Significant Major Market Competitors/Players of this Global Patient Access Solutions Market –McKesson Corporation, Epic Systems Corporation, Cerner Coperation, Cognizant, 3M, Optum,Inc,, The Advisory Board Company, Craneware, Inc, ZirMed Inc., The SSI group, cirius group, AccuReg Software, Optum, Xerox Corporation, manta, Experian Information Solutions, Inc., Change Healthcare, Patient Access Solutions, Inc. and Conifer Health Solutions, LLC., Epic Systems Corporation, among other domestic and global players.Segmentation Of the Global Patient Access Solutions Market –Patient Access Solutions Market by Services -Support & MaintenanceImplementationTraining & EducationPatient Access Solutions Market by Delivery Mode –Web & Cloud-Based SolutionsOn-Premise SolutionsPatient Access Solutions Market by End- Use –Healthcare ProvidersHCIT Outsourcing CompaniesOthersActionable market insights are always very important if seeking to create sustainable and profitable business strategies.