Factors such as the implementation of initiatives to shift the burden of risk from healthcare payers to providers, government initiatives and regulations promoting patient-centric care, initiatives to promote healthcare IT, rising geriatric population, and need to reduce healthcare costs are driving the growth of the Care Management Solutions Market.
The geographic segments in this report include North America, Europe, Asia, and the Rest of the World. Of these, the North American market is expected to account for the largest share of the market in 2018. The large share of North America can be attributed to the shift of the risk burden from healthcare payers to providers; patient-centric mandates; and the need to improve quality of care and curb healthcare costs in Canada. Additionally, several major global players are based in the US, which has made the country a center for innovation in the care management solutions market.
Europe is expected to grow at the highest CAGR during the forecast period (2018–2023). The efforts made by the governments of European nations such as the UK, Germany, France, Italy, and Spain to promote care coordination and quality of healthcare and reforms to curb healthcare costs by integrating HCIT solutions into healthcare are driving the growth in the forecast period.
However, the lack of interoperability, the high cost of deployment, and the increased instances of data breaches are some of the factors restraining the overall growth of this market.
The care management market is rapidly emerging with many regional as well as international players. In 2017, the care management solutions market was dominated by a few large players, namely, EXL Service Holdings, Inc. (US), Casenet, LLC (US), Medecision Inc. (US), ZeOmega Inc. (US), Cognizant Technology Solutions (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), and TCS Healthcare Technologies (US).
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Product deployments and launches, acquisitions, partnerships, agreements, and collaborations were strategies adopted by key players between 2015 and 2018 to enhance their share in the care management market. Important players that adopted these strategies include EXL Service Holdings, Inc. (US), Casenet, LLC (US), Medecision Inc. (US), ZeOmega Inc. (US), Cognizant Technology Solutions (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), and TCS Healthcare Technologies (US).
EXL Service Holdings, Inc. is one of the major players in the global care management solutions market. EXL also offers qualitative software tools by adopting advanced technologies. The company focuses on product deployments and partnerships to expand its business operations. In line with this strategy, from 2015-2018, EXL deployed its CareRadius suite of solutions in key organizations in the healthcare domain, such as Health Alliance Plan (HAP) (US), EmblemHealth Inc. (US), and Anthem, Inc. (US) to enhance its capabilities and competency in the care management market. In 2016, the company also partnered with organizations, such as Novu LLC, to develop solutions to enhance consumer satisfaction and reduce costs for payers and providers. Such developments helped the company to maintain and enhance its position in the market.
Zeomega is another key player in the global care management solutions market. The company provides the integrated Jiva medical management platform to enable payers and care-delivery organizations to improve health outcomes and performance. Zeomega focuses on partnerships and product deployments to enhance its market presence. For instance, in February 2016, ZeOmega partnered with Vivify Health, Inc. (US) to integrate ZeOmega’s Jiva platform with Vivify mobility applications. The partnership was aimed at managing chronic care across multiple populations, such as the frail and elderly, and populations with complex co-morbidities. The partnership helped ZeOmega to extend the reach of its Jiva platform across a wide variety of care settings, including patient homes.
Some of the other players competing in this market are Koninklijke Philips N.V. (Netherlands), IBM Corporation (US), Health Catalyst Inc. (US), Harmony Information Systems, Inc. (US), Salesforce.com, Inc. (US), i2i Systems, Inc. (US), Pegasystems Inc. (US), and Epic Corporation Inc. (US).
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