Population Health Management (PHM) Market Analysis US - Size and Forecast 2024-2028

Population Health Management Market Size in US 2024-2028 

The population health management market size in US is forecast to increase by USD 5.39 billion at a CAGR of 7.13% between 2024 and 2028. The healthcare industry is experiencing significant growth, driven by the increasing adoption of healthcare IT solutions, the rising number of specialty and multi-chain hospitals, and the growing incidence of chronic disorders. Healthcare IT solutions enable efficient and effective patient care through electronic health records, telemedicine, and remote monitoring. The proliferation of specialty and multi-chain hospitals caters to the diverse healthcare needs of the population, offering advanced treatments and facilities. Furthermore, the increasing prevalence of chronic disorders necessitates continuous care and monitoring, creating a demand for innovative healthcare solutions. These trends are transforming the healthcare landscape and presenting opportunities for businesses to offer products and services that address these evolving needs.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

The healthcare transformation is driven by a need to address health inequalities and improve life expectancy across different contexts. Economic context, social context, and physical context are crucial in understanding the wider determinants of health. Effective healthcare models must integrate system-wide outcome focus and balance qualitative data with quantitative data to address ill health and conditions like cardiovascular disease. Local intelligence plays a key role in decision-making for needs-based re-design and the development of integrated care systems. Resources, leadership, and digital infrastructure are essential for supporting these changes, alongside improvements in information governance and intelligence. Payment reform and incentives are necessary to drive interventions and support new care models that reduce hospitalization rates. Effective infrastructure and digital infrastructure support these efforts by providing the tools needed for comprehensive healthcare models and system-wide improvements.

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.

Exculsive Customer Landscape

The market forecasting 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

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 research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• CareCloud Inc.
• Cedar Gate Technologies
• CureMD
• DrChrono Inc.
• eClinicalWorks LLC
• Epic Systems Corp.
• Global Payments Inc.
• Greenway Health LLC
• Koninklijke Philips N.V.
• McKesson Corp.
• Medecision Inc.
• Medical Information Technology Inc.
• NextGen Healthcare Inc.
• Oracle Corp.
• PointClickCare Technologies Inc.
• Tebra Technologies Inc.
• Tenet Healthcare Corp.
• United Health 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 Segmentation

By Product 

Based upon Product ,the software sub- segment shows the 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 6.70 billion in 2018. 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.

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

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

You may also interested in below market reports:

1. Population Health Management Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Canada, China, UK, Germany - Size and Forecast

2. Care Management Solution Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, UK, Canada, Japan - Size and Forecast

3. Healthcare Revenue Cycle Management (RCM) Software Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, Germany, UK, Japan - Size and Forecast

Market Analyst Overview

Population Health Management (PHM) is essential for improving health outcomes across various patient populations. In the UK, NHS England and NHS trusts are focused on enhancing care services for at risk groups, particularly those with cardiovascular disease (CVD). Integrating Primary Care Networks (PCNs) and Integrated Care Systems (ICSs) with VCSE organizations (Voluntary, Community, and Social Enterprise) helps address the diverse needs of the health sector. Understanding the state of health requires considering physical contexts, economic contexts, and social contexts that affect health outcomes. Public health initiatives aim to reduce disparities by tailoring strategies to these contexts. By leveraging data and insights into the health sector, targeted interventions can improve care services and address the unique needs of different patient populations. Efficient care services depend on the collaboration of all stakeholders within the system, focusing on PHM to enhance overall health outcomes.

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

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies