The key factors driving the growth of this market are increasing patient volumes, expanding health insurance market, growing importance of denials management, and declining reimbursement rates.
# Healthcare insurance companies/payers
# Healthcare IT service providers
# Healthcare institutions/providers
# Venture capitalists
# Healthcare BPO Vendors
# Healthcare KPO Vendors
# Government bodies
# Corporate entities
# Accountable care organizations
The healthcare claims management market is expected to reach USD 13.93 billion by 2023 from an estimated USD 10.77 billion in 2018, at a CAGR of 5.3%.
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By end user, the healthcare payers segment is expected to command the largest share of the market in 2018
On the basis of end user, the market has been segmented into healthcare payers, healthcare providers, and other end users. The payers segment is expected to command the largest share of the market in 2018. The large share of this segment can be attributed to the mandate for insurance companies to meet the regulatory requirements and reduce unnecessary penalties and punishments.
Major Objectives Behind this Study:
# To define, describe, segment, and forecast the healthcare claims management market by component, delivery mode, type, end user, and region.
# To provide detailed information about factors (drivers, restraints, opportunities, and challenges) influencing healthcare claims management market growth.
# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
# To forecast the size of the healthcare claims management market segments with respect to North America, Europe, Asia, and the Rest of the World (RoW).
# To strategically analyze the market structure and profile the key players of the global healthcare claims management and comprehensively analyze their core competencies.
# To track and analyze competitive developments such as agreements, collaborations, and partnerships; product deployments, product launches, and enhancements; acquisitions; and expansions in the healthcare claims management market.
North America to dominate the market in 2018
North America is expected to account for the largest share of the healthcare claims management market in 2018, followed by Europe. The large share of North America can be attributed to the high and growing HCIT investments in the region and the presence of regulatory mandates favoring the implementation of healthcare claims management solutions. Also, several major global players are based in the US, owing to which the US has become a center for innovation in the healthcare claims management solutions market.
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The players that adopted these strategies are Cerner Corporation (US), McKesson Corporation (US), athenahealth (US), eClinicalWorks (US), Optum, Inc, (US), Conifer Health Solutions (US), and nThrive (US).
Product deployments, product launches, & approvals; acquisitions; and partnerships, agreements, and collaborations were the key strategies adopted by key players between 2015 and 2018.
Some of the other players competing in this market are DST Systems (US), Cognizant Technology Solutions (US), Allscripts Healthcare Solutions, Inc. (US), Context 4 Healthcare (US), Health Solutions Plus (US), GE Healthcare (US), RAM Technologies (US), Quest Diagnostics (US), The SSI Group (US), PLEXIS Healthcare Systems (US), and GeBBS Healthcare Solutions (US).