The New Report “Value Based Care Payment Market” published by Premium Market Insights, covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The global value based care payment market is expected to decline from $1.66 billion in 2019 to $1.52 billion in 2020 at a compound annual growth rate (CAGR) of -8.39%. The decline is mainly due to the COVID-19 outbreak that has resulted in losses in attributions, missed outcome metrics, and struggles with reporting requirements. The market is then expected to recover and reach $3.03 billion in 2023 at a CAGR of 25.81%.
The value based care payment market consists of sales of value based care payment services by entities (organizations, sole traders and partnerships) that provide value based care payment in which healthcare providers such as hospitals are paid based on patient’s health outcome, quality, efficiency, cost, and patient experience. Only goods and services traded between entities or sold to end consumers are included.
Top Companies Covered in this Report:
Siemens Healthcare GmbH, Nextstep Solutions, Athena Health, NXGN Management LLC. and McKesson Corporation.
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The value based care payment market covered in this report is segmented by models into accountable care organization (ACO); bundled payments; patient-centered medical home (PCMH); pay for performance (P4P), by deployment into cloud based; on-premise and by end user into providers; payer.
In August 2019, Signify Health, a US-based technology company that supports in-home care and provides care management services announced its plan to merge with Remedy Partners. The merger helps the two companies to bring together technology, data, and network assets, including 9,000 credentialed providers and a combined nationwide partner network of over 300 provider systems, 2,000 post-acute organizations, and over 200 community locations. Remedy Partners is a US-based software company that collaborates with healthcare organizations to launch bundled payment programs.
The lack of health care infrastructure is expected to limit the growth of value based care payment market. The main reason for this dearth is the lack of willingness of organizations to take the technological risk. For instance, according to a survey, a large portion of the organizations are yet to embrace artificial intelligence (AI) to accelerate value-based care. About 43% of healthcare organizations are uncertain about actualizing AI and another 21% are not prepared for any AI-related innovation. Moreover, only 13% are prepared for AI and have an execution plan set up attributing to the lack of trained staff with knowledge of data analytics. In addition to this, according to a survey of 2,900 medicinal executives through the span of a year, many healthcare facilities lack the infrastructure to integrate patient data effectively, which implies that value-based care payment cannot be used in these organizations. These factors are expected to impact healthcare infrastructure by limiting the growth of value based care payment market.
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Fundamentals of Table of Content:
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Value Based Care Payment Market Size
2.2 Value Based Care Payment Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Value Based Care Payment Market Size by Manufacturers
3.2 Value Based Care Payment Key Players Head office and Area Served
3.3 Key Players Value Based Care Payment Product/Solution/Service
3.4 Date of Enter into Value Based Care Payment Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Value Based Care Payment Sales by Product
4.2 Global Value Based Care Payment Revenue by Product
4.3 Value Based Care Payment Price by Product
5 Breakdown Data by End User
5.2 Global Value Based Care Payment Breakdown Data by End User
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