Population Health Management is the consolidation of patient’s health information through various technological platforms to analyze and facilitate healthcare delivery. Global population health management market generated USD 15.9 billion in 2017. The population health management market provides healthcare facility by software and services offerings. The software category accounts for the larger share of more than 80% in 2017. This is primarily due to the increasing customization of software as per the requirement adding advantage to the category over other solution.
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The rise in necessity to opt for cost-effective treatment options, increasing adoption of Healthcare information technology (HCIT), and disease management programs by public and private insurance providers are factors that will drive the growth of the global population health management market. HCIT claims to hold the potential to reduce healthcare expense and provide efficacy to overall healthcare system that will drive the growth of population health management during the forecast period. Also, the growing geriatric population in addition to the chronic diseases requires proper health management thereby drive the growth of the market. According to the World Population Prospects – Revision 2017, by the UNDESA, the global population aged 60 years or over in 2017 was 1 billion, while in 2100 is projected to reach 3.1 billion.
North America held the largest share of 48.8% in the global population health management market in 2017, majorly due to factors such as increase in awareness towards the benefits of population health management, the rise in demand to reduce healthcare cost, government initiatives to offer disease management programs, and the implementation of health reform such as the affordable care act (ACA) in U.S. Europe also holds significant share in the global market due to high adoption rate of population health management in countries such as Germany and U.K. Moreover, the population health management industry is expected to be witness highest demand registering fastest CAGR of 27.4% in Asia-Pacific, during the forecast period.
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In February 2017, IBM Watson Health introduced its value based care solutions at the Health Information Management Systems Society (HIMSS) conference. The value based care solutions includes provider performance manager, engagement manager, bundled payments forecasting and management, and custom analytics as a set of its application for managing population health. Similarly, other leading players in the global population health management market are providing integrated solutions with enhanced services to maintain their competency in the market.
Key players of the global population health management market include McKesson Corporation, Cerner Corporation, Health Catalyst, LLC, Wellcentive, Inc., Conifer Health Solutions, LLC, Allscripts Healthcare Solutions, Inc., Verscend Technologies, Inc., UnitedHealth Group, and Koninklijke Philips N.V.