Market Research Future (MRFR) assessed the global Healthcare Claims Management Market 2021 over the study tenure till 2027. MRFR data suggests that the advent of new treatments and technologies offering delivery of quality healthcare services can cause the market of healthcare claims management market to rise at a healthy CAGR of around 5.37% in the study period. By 2027, the global healthcare claim management market is anticipated to garner decent revenue.
Market Drivers and Restraints
Managing healthcare claims processes comprises different tasks, such as; billing, organization, processing, filling, and updating medical claims that are related to treatment, diagnosis, and medication of patients. The increase in focus on delivering quality healthcare services and surge in the adoption of cloud-based technology and associated services are expected to promote the market rise in the study period. The integration of robust claims management solutions to prevent data breaches and protect confidentiality is observed as another factor that is expected to bolster the expansion of the market in the review tenure. On the contrary, lack of IT expertise in the healthcare domain are other factors that can restrain the upsurge of the healthcare claims process market.
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The segment study of the global healthcare claims management market is based on component, end-user, and delivery mode type.
The component-based segments of the healthcare claims management market are services and software. Rapid advancements in technology and high investment of software vendors in developing highly efficient healthcare claim management software solutions is expected to favor the market in the upcoming years.
The delivery mode-based segments of the healthcare claims management market are cloud based and on-premise. The inclination towards cloud-based solutions of healthcare claim management is identified to prompt the market upsurge.
The type-based segments of the healthcare claims management market are standalone and integrated. The high preference of integrated healthcare claim management solutions by different health insurance companies is likely to promote the market growth.
The end-user-based segments of the healthcare claims management market are providers and healthcare payers. The increase in the number of healthcare players is anticipated to favor the market rise in the foreseeable future.
The market healthcare claim management in the Americas is likely to maintain its dominance over the forecast tenure. This is likely owing to innovative and new treatments and technologies that can benefit the market upsurge in the near future. The heavy cash inflow from various government agencies to boost healthcare IT infrastructure setup is expected to promote the establishment of numerous healthcare claims management providers which, in turn, can benefit the expansion of the Americas market in the years to come. As per the study of the National Health Expenditure Accounts (NHEA), U.S. healthcare spending is likely to increase by considerable revenue in the years to come. In Europe, the surge in the increasing investment for building and maintaining a robust healthcare infrastructure and promoting effective services can benefit the market in the near future. In Asia Pacific, the market of healthcare claims management is observed to hold high potential, which, in turn, can promote the rise of the market in the APAC. In addition, the existence of some top-notch companies in the worldwide healthcare claims management solutions market is likely to prompt the APAC healthcare claim management market by 2027. In addition, the proactive participation of governments in APAC for the market growth counting on the introduction of several initiatives to spread awareness among people are likely to promote the market growth in the years to come. The market in the Middle East and Africa is expected to rise at moderate pace and secure the smallest share of the worldwide healthcare claims management market by 2027. Issues with healthcare IT solutions expense to impact MEA market.
Oracle Corporation, Accenture plc., Allscripts Healthcare Solutions, Inc., IBM Corporation, Cognizant Technology Solutions Corporation and Genpact Limited, Infor Inc., Cerner Corporation, eClinicalWorks, McKesson Corporation, athenahealth, Inc., Optum, Inc., Conifer Health Solutions, Avaya Inc., and nThrive, Inc are some eminent players in the global healthcare claims management market that are listed by MRFR.
The global market of healthcare claims management market is expected to gain decent revenue from top-notch market players across the world. The introduction of innovations by several players in the market and strategic collaborations among these players are observed to work in favor of the healthcare claims management market in the years to come.
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