Patient Access Solutions - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Patient Access Solutions Market is accounted for $1.45 billion in 2019 and is expected to reach $3.14 billion by 2027 growing at a CAGR of 10.1% during the forecast period. Huge growth potential in emerging healthcare IT markets, increasing patient volume, and growing need to maintain regulatory compliance are the major factors propelling the market growth. However, factors such as high deployment costs, reluctance to adopt patient access solutions, and data breaches and loss of confidentiality are hampering the market growth.
Patient access solutions play an important role in the management of the patient data of the healthcare organization. It has eased various processes such as management, identification, and collection of data. Additionally, the software manages all the data, which has minimized the workforce requires, which and in turn, increases the profit margin of the hospital or organization that have adopted the software. Furthermore, medical billing, coding, and transcription have become easier and more convenient. Patient access solutions majorly focus on post-intervention services and pre-intervention services.
Based on component, the services segment is going to have a lucrative growth during the forecast period owing to the rising launches of complex software along with the demand for system integration & support. The scalability, reliability, flexibility, and affordability of cloud-based patient access solutions are likely to contribute its lucrative market growth in the near future.
By geography, North America is going to have a lucrative growth during the forecast period due to the presence of a high-quality healthcare system and modern medical technology. Most hospitals in United States that are serving patients, who are covered under Hospitals face challenge in accurately billing patients for a procedure or surgery done. This has created a huge opportunity for companies that provide patient access solutions to bridge the gap. Additionally, most hospitals in United States having recognized that automating the payment estimation with help of IT tools is helping both hospitals and patients to understand the costs in real time and collect payments by reducing the accounts receivable turnaround time. This is likely to contribute towards the growth of the market.
Some of the key players profiled in the Patient Access Solutions Market include 3M, AccuReg Software, Allscripts, Cerner Corporation, Cirius Group, Cognizant, Conifer, Craneware, Epic Systems, Experian, FormFast, Genentech, McKesson Corporation, Optum, SSI Group, and ZirMed.
Delivery Modes Covered:
• Web & Cloud Based
End Users Covered:
• Healthcare Providers
• Health Care IT (HCIT) Outsourcing Companies
• Hospitals & Clinics
• Laboratories & Research Institutes
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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