Intensifying Trends in Worldwide Population Health Management Market Outlook
The procedure of classifying groups of individuals is population health management (PHM), which focuses to sustain and improve the health outcomes for such groups. Population Health Management solutions aim the population-level data-driven healthcare and enable the patient segmentation based on common medical situations and attributes. PHM enables collection of data, risk stratification, synchronization of treatment, and communication with patients. PHM is a patient-friendly network that encourages the control of care costs by healthier cost-effective alternatives. The podium also enables payers and vendors to control perils connected to reimbursement policies. The healthcare system has progressively been patient-centric during the recent years. The usage of Population Health Management has led to an augment in the quality of life and a deduction in entire spending. In addition to categorizing target high-risk populations, disease management systems appraise demographic characteristics and usage of healthcare.
According to the report analysis, ‘Global Population Health Management Market: Market Segments: By Component (Software and Service); By Delivery Mode (Web Based, On-Premise, and Cloud Based); By End User (Health Provider, Healthcare Payers, Employer Group and Government Bodies);and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030’ states that market growth can be accredited to Government commands and funding for the healthcare IT solutions, augmented the usage of big data analytics and the requirement to decrease the growing cost of healthcare can be accredited to market growth. In addition, emerging regions with an increasing emphasis on personalized medicine and a growing aim on value-based medicine, are projected to deliver the market players with lucrative growth opportunities over the review period.
Although, the effective growth in the geriatric populace confirms the improvement of the requirement for the population health management. Since they are susceptible to illness owing to low levels of immunity and preeminent recovery time, the elderly populace needs widespread treatment. The elderly is more susceptible to chronic syndromes such as cancer and cardiovascular diseases, thereby growing the requirement for better diagnosis, prevention and care. As they have unfortunate immunity and are more vulnerable to drug reactions, the older populace often has an augmented requirement for personalized medication. Augmented requirement for PHM is therefore generated by the increasing geriatric population.
Not only has this, the manufacturers are investing in research and development to produce the new products to support healthcare organizations as healthcare costs are increasing. For example, the unveiling of its Population Health Foundations solution was publicized by Health Catalyst, Inc. during June 2019. From a paper-based system to a digitized system, the medical industry is progressively evolving, quickening the requirement for healthcare IT services. Moreover, a move from Fee-For-Service (FFS) to Value-Based Payment (VBP) models has occasioned in augmented demand for strategies promising value-based care delivery by healthcare stakeholders. It is also projected that increasing requirement for the successful disease management strategies would enhancement the market growth. Therefore, in the near years, it is anticipated that the market of populace health management will increase around the globe more effectively over the forthcoming duration.
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Ankur Gupta, Head Marketing & Communications