Healthcare delivery is being transformed around the world, driven by several key factors including the movement toward value-based payments, large-scale infrastructure investments in health information technology, technology advancements in Big Data analytics, and growing consumerism in the healthcare market. According to a new report from Tractica, as healthcare organizations find themselves increasingly at risk for health and financial outcomes, they will rely on population health management software and services to support data collection and analysis to identify and stratify populations, support care teams with the coordination and management of care and outcomes, and engage members to be active in managing their care.
Tractica forecasts that population health management software and services global revenue will more than double between 2016 to 2021, increasing from $13.5 billion from $28.2 billion during that period. The market intelligence firm finds that North America leads the market, driven largely by the United States, and that Europe is and will remain the second largest regional market. During the forecast period, however, Tractica anticipates that the Asia Pacific region will experience the fastest revenue growth.
“More organizations will invest in population health management software and services,” says senior analyst Andrew Broderick, “particularly as the U.S. healthcare system transitions from one based on fee-for-service and volume of patients served, to one based on value, improvements in patient health, and associated decreases in healthcare costs.”
Tractica’s report, “Population Health Management Software and Services”, examines the global market opportunity for population health management software and services, and provides an assessment of market drivers and barriers, applications and use cases, technology issues, and key industry players. It presents revenue forecasts on a global and regional basis during the period from 2016 through 2021. The report focuses on the main applications for population health management software, including data management and analytics, care management and coordination, and patient engagement, as well as services such as outsourced care management, consulting, business services, and implementation. An Executive Summary of the report is available for free download on the firm’s website.