US - Population Health Management (PHM) Market by Product and Deployment - Forecast and Analysis 2023-2027

US Population Health Management (PHM) Market Size 2023-2027

The US Population Health Management market size is estimated to grow by USD 5.49 billion at a compound annual growth rate (CAGR) of 7.65% between 2022 and 2027.

The market is propelled by several key factors. Firstly, the increasing adoption of healthcare IT solutions revolutionizes patient care and management, optimizing healthcare delivery and outcomes. Secondly, the rising number of specialty and multi-chain hospitals fosters a more integrated approach to healthcare, enabling comprehensive population health management strategies. Lastly, the growing incidence of chronic disorders necessitates proactive healthcare interventions and preventive measures, driving the demand for population health management solutions to effectively manage and mitigate these conditions. These factors collectively contribute to the robust growth of the market.

Study Period	2023-2027
Base Year For Estimation	2022
CAGR	7.65%
Forecast period	2023-2027
Fastest Growing Region	North America at 100%
Largest Segment	Product

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Market Segmentation

The Population Health Management Market in the US is witnessing significant growth driven by several factors. The increasing adoption of healthcare IT services and solutions is transforming care delivery, shifting from the traditional Fee-For-Service (FFS) model to the Value-Based Payment (VBP) model, thereby optimizing healthcare expenditure. Initiatives by the Centers for Medicare & Medicaid Services (CMS) promote value-based care and address chronic diseases like cardiac diseases, asthma, and diabetes. This market report extensively covers market segmentation by product (software and services) and deployment (cloud and on-premises).

By Product

The market share growth by the software segment will be significant during the forecast period. One of the main benefits of the PHM software is that it predicts patient health conditions by providing advanced data and analytics tools such as data visualizations, business intelligence, and others by collecting patient data from healthcare systems and stores.

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The software segment was valued at USD 6.37 billion in 2017 and continued to grow until 2021. Some of the key advantages of the adoption of PHM software in the healthcare industry include increasing healthcare efficiency and lower operating costs while providing quality patient care. Thus there is increasing adoption of PHM software across these medical industries as it provides accurate patient data and helps in understanding the health risks associated with the community.  Factors such as the increasing demand for value-based care and the increasing prevalence of chronic conditions globally are expected to drive the growth of this segment which, in turn, will drive the market growth during the forecast period.

Market Dynamics and Customer Landscape

In the evolving landscape of healthcare, employee satisfaction plays a pivotal role in ensuring the efficacy of care delivery, as satisfied employees are more likely to provide quality patient care. Moreover, the adoption of Value-Based Payment (VBP) models and the transition away from Fee-For-Service (FFS) reimbursement systems incentivize providers to focus on patient outcomes rather than volume. This shift aligns with the goals of accountable care organizations (ACOs) and emphasizes the importance of addressing chronic conditions such as cardiac diseases, asthma, and diabetes. By leveraging healthcare IT services and solutions, providers and payers can integrate clinical, financial, and operational data through open Application Programming Interfaces (APIs), facilitating interoperability and supporting Value-Based Care initiatives mandated by the Centers for Medicare & Medicaid Services (CMS). Additionally, the deployment of healthcare Customer-Relationship Management (CRM) platforms enables providers to deliver personalized care and consumer-focused health plans, ultimately enhancing patient outcomes and reducing healthcare expenditure.

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver 

One of the primary catalysts propelling growth in the market is the escalating adoption of healthcare IT solutions. This surge is driven by the imperative for medical reimbursement and the transition from the traditional Fee-For-Service (FFS) model to the Value-Based Payment (VBP) model. Providers in the US are investing in IT infrastructure to enhance operational efficiency and mitigate healthcare expenditure. The integration of open Application Programming Interfaces (APIs) and sophisticated clinical, financial, and operational data management systems empowers healthcare service providers to optimize care delivery, particularly in addressing chronic conditions like cardiac diseases, asthma, and diabetes. Furthermore, these solutions facilitate seamless collaboration among providers, payers, and employer groups, fostering the delivery of patient-centric care and bolstering employee satisfaction. Such advancements are poised to drive market growth, elevating the efficacy of patient care and fortifying the role of accountable care organizations (ACOs) in the US healthcare landscape.

Significant Market Trends 

A key factor shaping the market growth in the US is the increasing adoption of analytics in PHM.  Some of the main benefits of integrating analytics and business intelligence in the healthcare industry include extracting meaningful insights from the data gathered about clinical and non-clinical operations.

Healthcare organizations generate a huge amount of clinical data, such as patient health data, and non-clinical data, such as administrative and financial information, which can be analyzed to gather meaningful insights and extract hidden information, such as trends and patterns in patient data. Hence, such applications are expected to drive the market growth during the forecast period.

Major Market Challenge 

Data security and privacy concerns associated with cloud-based PHM solutions are the key challenges hindering market growth. One of the significant challenges which impact the market is data privacy concerns as the adoption of cloud-based PHM solutions in medical practice can make the patient's information and insurance-related information available to the public.

Hence, the data is prone to hacking, and the risk of information leakage is high, resulting in the misuse or manipulation of data, which can lead to several legal and security concerns related to illegal insurance claims, regulatory and legislative compliance issues, and auditing and logging issues. Hence, such factors are expected to hinder the market growth during the forecast period.

Key Customer Landscape

The market research and growth report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major US Population Health Management Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Athenahealth Inc: The company offers population health management, such as revenue cycle management and patient engagement.

The market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market Companies, including:

• CareCloud Inc.
• Cedar Gate Technologies
• CureMD.com Inc.
• DrChrono Inc.
• eClinicalWorks LLC
• Epic Systems Corp.
• Global Payments Inc.
• Greenway Health LLC
• Koninklijke Philips NV
• McKesson Corp.
• Medecision Inc.
• Medical Information Technology Inc.
• NextGen Healthcare Inc.
• Oracle Corp.
• PointClickCare Technologies Inc.
• Tebra Technologies Inc.
• Tenet Healthcare Corp.
• UnitedHealth Group Inc.
• Veradigm LLC

Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

Moreover, the proliferation of open Application Programming Interfaces (APIs) facilitates data sharing among payers and providers, enhancing interoperability and supporting accountable care organizations (ACOs). Comprehensive population health solutions leverage clinical, financial, and operational data, empowering healthcare Customer-Relationship Management (CRM) platforms. Notable players like Allscripts Healthcare, LLC and innovative products drive the population health management sector, ensuring effective treatment, patient record maintenance, and surveillance of chronic illnesses. Collaborations between stakeholders further enhance the efficacy of population health solutions, catering to the evolving healthcare landscape in the US.

The market is further bolstered by the rise in lifestyle disorders and the growing adoption of innovative solutions in the services segment. Regulatory measures such as interoperability final rules and initiatives like the Patient-Centered Medical Home (PCMH) promote the integration of Electronic Health Record (EHR) systems and facilitate the transition to Alternative Payment Models (APMs) like the Merit-Based Incentive Payment System (MIPS).

Additionally, collaborations among stakeholders, including providers-payers, employer groups, and insurance carriers, drive the development and deployment of predictive analytics competency and consumer-focused health plans. Investments in research and development by manufacturers and healthcare technology companies like CarePort Health, WellSky Corp, and Health Catalyst further enrich the market with solutions like Population Health Foundations, ensuring comprehensive care delivery and enhancing population health outcomes amidst the escalating incidence of chronic disorders among adults.
 

Segment Overview

The market growth analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Software
  • Services
• Deployment Outlook 
  • Cloud
  • On-premises

Population Health Management Market Scope In US
Report Coverage	Details
Page number	121
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.65%
Market growth 2023-2027	USD 5.49 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	6.45
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	athenahealth Inc., CareCloud Inc., Cedar Gate Technologies, CureMD.com Inc., DrChrono Inc., eClinicalWorks LLC, Epic Systems Corp., Global Payments Inc., Greenway Health LLC, Koninklijke Philips NV, McKesson Corp., Medecision Inc., Medical Information Technology Inc., NextGen Healthcare Inc., Oracle Corp., PointClickCare Technologies Inc., Tebra Technologies Inc., Tenet Healthcare Corp., UnitedHealth Group Inc., and Veradigm LLC
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market in the US during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size in the US and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across the US
• A thorough analysis of the market's competitive landscape and detailed information about Companies
• Comprehensive analysis of factors that will challenge the growth of market Companies

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