The global healthcare provider network management market is poised to reach USD 2.96 billion by 2020 from USD 1.78 billion in 2015, growing at a CAGR of 10.7% during the forecast period of 2015 to 2020.
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Provider network management helps payer organizations to manage a provider’s network with greater efficiency for optimal financial results, process claims with greater accuracy (which reduces cost and errors), and increase provider satisfaction. The global healthcare provider network management market is bifurcated into provider network management services and provider network management platform/software segments. The provider network management services segment is further categorized into outsourcing services and internal services.
A provider network consists of a set of doctors, hospitals, and other healthcare providers such as nurse practitioners, therapists, and other clinicians that are a part of the health insurance plan. Provider network management includes database management, credentialing, contracting services, pricing maintenance, and configuration, among others. With the help of provider network management, the payer organization is able to uncover insights which may have been overlooked previously by conventional analytical tools. Provider network management helps in leveraging data obtained in daily operations by payer organizations to identify high-risk providers, create consistency in care delivery, and ensure necessary health insurance coverage for patients.
In 2015, the services segment is expected to account for the largest share of the global healthcare provider network management market, by component. Moreover, the internal services segment is expected to account for the largest share of provider network management services market, by sub-component. This can be attributed to the fact that internal services help ensure profitability, better provider network management, long-term provider relationships, and regulatory compliance. These advantages are driving the growth of this market segment over outsourcing services.
In 2015, North America is expected to account for the largest share of the global healthcare provider network management market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The North American market is also likely to witness the highest growth rate of the global healthcare provider network management market in the coming years. North America’s large share and high growth rate can be attributed to the increase in health insurance coverage triggered by the Patient Protection and Affordable Act (PPACA) in the U.S., the rising need to curtail escalating healthcare costs in the U.S. and Canada, and the government focuses on healthcare IT solutions in Canada.
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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
Continue with the related note, another research titled Healthcare Supply Chain Management Market Global Forecast to 2019 says, the global healthcare supply chain management market is estimated to grow at a CAGR of 8.3% from 2014 to 2019 to reach $13,814.0 million by 2019 from $9,276.5 million in 2014. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market shares. Companies like Oracle Corporation, In for, Cerner Corporation, McKesson Corporation, SAP AG Group amongst others have been profiled in this 200 pages research report available at http://www.reportsnreports.com/reports/370290-healthcare-supply-chain-management-market-by-product-inventory-management-strategic-sourcing-warehouse-management-order-management-supplier-management-rfid-barcode-delivery-mode-on-premise-cloud-end-user-global-forecast-to-2019.html .
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