Healthcare Provider Network Management Market size worth $ 11,215.42 Million, Globally, by 2028 at 16.34% CAGR: Verified Market Research®

The Healthcare Provider Network Management Market is driven by the increasing implementation of state and federal rules in the US, increase in health insurance coverage, and increased pressure on the payers to reduce administrative cost

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Jan 20, 2022, 10:15 ET

JERSEY CITY, N.J., Jan. 20, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Healthcare Provider Network Management Market" By Component (Provider Network Management Software and Provider Network Management Services), and By Geography. According to Verified Market Research, the Global Healthcare Provider Network Management Market size was valued at USD 3,279.06 Million in 2020 and is projected to reach USD 11,215.42 Million by 2028, growing at a CAGR of 16.34% from 2021 to 2028.

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Browse in-depth TOC on "Healthcare Provider Network Management Market"

202 - Pages
126 – Tables
37 – Figures

Global Healthcare Provider Network Management Market Overview

Patient flow to hospitals is increasing, and individuals are becoming more aware of insurance policies, which is one of the major factors boosting the need for Healthcare Provider Network Management. In 2019, over 36 million hospital admissions took place in the United States alone. In 2020, around 91% of the population of the United States was estimated to have health insurance coverage in the country while 8% or 28.0 million, did not have health insurance during the year. The Affordable Care Act, resulted in an estimated 20 million gaining coverage, reducing the share of uninsured adults aged 19 to 64 from 20% in 2010 to 12 percent in 2018. With an increased focus towards accessibility to care, demand for Healthcare Provider Network Management is expected to increase in the years to come, especially in the US.

The IT sector has also played a crucial role in the growth of the market. Healthcare Provider Network Management solution provides payers with robust analytics tools and near real-time transaction data, enabling providers to see the patient status and results through timely reports. Through machine learning and real-time data, providers can identify suspicious reimbursement claims mixed in within the millions of accurate ones. It also helps to monitor patient records to predict hospitalization, readmission, and disease progression, thus enabling providers to manage care-management programs. The provider network management system helps in integrating patient data such as care plans, lab test results, authorizations, and medical claims which helps saving of organizations compared to searching multiple systems.

The system also includes methods for storing and analyzing data because of which providers are able to identify areas of opportunity for expansion. With timely access to accurate network data, payers can better manage costs, improve collaboration with providers, and provide members with the information they need to make informed medical decisions. The Global Healthcare Provider Network Management Market is driven by the increasing implementation of state and federal rules in the US, especially in industries such as Ambulatory Surgery Centers, which has seen a rapid increase in recent years. With the increase in demand for Ambulatory Surgery Centers, these centers are increasingly subjected to various federal regulations, creating demand for Healthcare Provider Network Management Software/Services to maintain regulatory compliance.

Key Players

The major players in the market are Trizetto Corporation (A Cognizant Company), Ayasdi, Inc., McKesson Corporation, Optum, Inc., Genpact Limited, Infosys BPO, Ltd., Syntel, Inc., Emphasis Limited, Vestica Healthcare, LLC (A Skygen USA Company), Aldera, Inc.

Verified Market Research has segmented the Global Healthcare Provider Network Management Market On the basis of Component, and Geography.

Healthcare Provider Network Management Market, By Component

Provider Network Management Software
Provider Network Management Services

Healthcare Provider Network Management Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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