According to a new market research report “Patient Access Solutions Market by Product & Service (Eligibility Verification, Medical Necessity, Prior-authorization, Denial Management), Delivery Mode (Web & Cloud, On-premise), End User (Providers, Outsourcing Companies) – Global Forecast to 2022″, published by MarketsandMarkets™, the market is expected to reach USD 1.74 Billion by 2022 from an estimated USD 1.21 Billion in 2017, at a CAGR of 7.6%.
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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 denial management, declining reimbursement rates, and need to curtail escalating healthcare costs are the major factors driving the growth of the patient access solutions market.
“By product & service, the services segment accounted for the largest share of the patient access solutions market in 2016.”
On the basis of product & service, the services segment accounted for the largest share of the global patient access solutions market. 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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“By delivery mode, the web & cloud-based solutions segment accounted for the largest share of the patient access solutions market in 2016.”
On the basis of delivery mode, the web & cloud-based solutions segment accounted for the largest share of the global patient access solutions market. This segment is also exected to grow at the highest CAGR during the forecast period. Factors such as flexibility of working from remote areas, rising affordability, and features such as auto-upgradation are attributing to the larger share and high growth of the web & cloud-based solutions segment.
“By end users, the healthcare providers segment held the largest market share of patient access solutions market in 2016.”
Based on end user, the healthcare providers segment accounted for the largest share of the patient access solutions market. Increasing healthcare IT adoption, increasing affordability in developing countries, and increasing volume of claims denials are the major factors supporting the adoption of patient access solutions in healthcare providers.
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“North America dominated the market in 2016.”
North America accounted for the largest share of the patient access solutions market in 2016, followed by Europe and Asia Pacific. North America’s large share in the global market is attributed to factors such as ever-changing healthcare regulations, transition toward high co-pay by patients, increasing government support for improving healthcare IT infrastructure, increasing volume of claims denials, high number of private and government payers, and the presence of a large number of healthcare IT companies.
Prominent players in the patient access solutions market are McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian (Ireland), Optum (US), Conifer Health (US), The Advisory Board (US), 3M (US), Craneware (UK), The SSI Group (US), ZirMed (US), Cirius Group (US), and AccuReg Software (US).
