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?
[145 Pages Report] 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%.
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. The base year considered for the study is 2016 and the forecast period includes 2017 to 2022.
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What Drives 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 report analyzes the global patient access solutions market by product & service, delivery mode, end user, and region. On the basis of product & service, the services segment accounted for the largest share of the global patient access solutions market in 2016. The introduction of complex software and the need for system integration are expected to boost the services market in the near future.
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