Healthcare Provider Network Management Market Size, Share & Segmentation by Component type (Services, Software), by Delivery Mode (On-premise Delivery Mode, Cloud-based Delivery Mode), by Application Type, by Regions and Global Forecast 2024-2031

Healthcare Provider Network Management Market Report Scope & Overview:

Get more information on Healthcare Provider Network Management Market - Request Sample Report

The Healthcare Provider Network Management Market Size was valued at USD 4.23 billion in 2023, and is expected to reach USD 13.02 billion by 2031, and grow at a CAGR of 15% over the forecast period 2024-2031.

Healthcare Provider Network Management serves as a source of pricing information, health insurance plans, government policies and procedures, and other data within a healthcare company. This contributes to the accuracy and authenticity of the claim post. Doctors, hospitals, institutions, skills, and other health care providers who are part of health insurance programs, such as nurses, therapists, doctors, and nurses, form a network of healthcare providers. Compared to conventional manual methods, the provider's network management solution automatically performs the many tasks that payers go through every day, saving time and money. The healthcare industry loses billions of dollars each year owing to administrative costs associated with gaps between payers and providers caused by inefficient systems and erroneous data.

The barriers for mutually productive payer-provider collaborations vary, but many of them are founded in antiquated provider network management methods. A provider network management system solves a number of issues that payers encounter, including provider recruitment, credentialing, contracting, claims, and service, all of which result in lost income, increased administrative hassles, and reimbursement delays. Since a result, demand for Healthcare Provider Network Management is likely to rise, as it allows payer to save costs and inefficiencies while also boosting provider and member satisfaction.

The IT industry has contributed significantly to market expansion. The Healthcare Provider Network Management arrangement gives payers strong examination apparatuses and close to constant exchange information, permitting suppliers to see patient status and results progressively through opportune reports. Providers can spot suspect reimbursement claims among millions of legitimate ones using machine learning and real-time data. It assists providers in managing care-management programmes by monitoring patient records to forecast hospitalisation, readmission, and illness progression. When contrasted with looking through various frameworks, the supplier networks the board framework supports the incorporation of patient information, for example, therapy plans, lab test results, approvals, and clinical cases, setting aside organizations time and cash.

Healthcare Provider Network Management Market Dynamics:

DRIVERS

• In the United States, strict government mandates are being implemented.

• The use of payer reporting requirements to improve the quality of care is becoming increasingly important.

• There's a need to rein in rising healthcare prices.

• Skilled workers are in short supply within the company.

RESTRAINTS

• Constrained IT infrastructure in poor nations

• Costs linked with outsourcing services that were not anticipated

OPPORTUNITIES

• Data analytics of the highest level

CHALLENGES

• Users' apprehension about switching from legacy systems

IMPACT OF COVID-19

Throughout the crisis, payers will play a vital role in ensuring that patients receive the treatment they require at an affordable price. While many payer organisations struggle to keep their operations running effectively, those that have invested in provider network management technology are doing well. Furthermore, the pandemic has prompted widespread anxiety among customers, businesses, and communities, as well as increased economic hardship. There is a risk of further market disruption due to the continued supply and demand pressures. Liquidity crisis, especially limited loan access, may be affecting businesses and individuals. The reception of supplier networks the executives arrangements is basic for medical services protection suppliers since it supports the more proficient organization of suppliers' organizations.

Healthcare Provider Network Management Market Segment Oveview:

By Component Type

The network management market for healthcare providers is divided into two categories: software and services. The global network management network of healthcare providers is estimated to be dominated by the services segment. A large proportion of this category may be due to the low cost of health care system services, as well as the improvement of efficiency, automatic litigation rates for claims, and supplier cooperation. Internal and external services are two types of services in the services market.

By Delivery Mode

The network management market for healthcare providers is divided into two categories: local delivery and cloud-based delivery. The global network management network of healthcare providers was led as part of the infrastructure delivery approach. Part of the cloud-based delivery mode, on the other hand, predicts that it will grow faster during the forecast period. Low cost and operating costs, as well as improved growth, flexibility, and accessibility, boost the cloud-based solutions industry.

By Application Type

Tele-healthcare topped the healthcare IT industry with a revenue share of 41.2%. Smartphone adoption and improved internet connectivity have broadened the breadth of the healthcare value chain. Emerging economies' economic progress has resulted in widespread adoption of these technologies, which has the potential to transform the tele healthcare market by speeding up the deployment of telehealth technologies and applications. Furthermore, growing consumer awareness of their health and well-being is adding to the market's growth and development.

Furthermore, the tele-healthcare segment is expected to increase at the quickest rate in the coming years. The shortage of doctors, nurses, and hospital beds is putting further strain on healthcare systems. Furthermore, the region's demand for inexpensive and high-quality healthcare is being driven by a fast-growing senior population, rising illness prevalence, rising healthcare expenses, and a lack of healthcare infrastructure, particularly in rural areas. Smartphone and internet penetration has increased in recent years. Furthermore, general digital infrastructure is developing, owing mostly to local government digitalization initiatives. The tele healthcare industry is expected to be driven by all of the aforementioned factors. The majority of telehealth platforms, among other things, offer online consultations, medications, remote monitoring, and appointment scheduling.

Healthcare Provider Network Management Market Regional Analysis

With the largest share, North America dominated part of the Healthcare Provider Network Management Market area. Europe next. The Patient Protection and Affordable Purchasing Act (PPCA) in the United States, with growing focus on reducing healthcare costs and the rapid growth of the IT industry in the region, all contribute to significant regional market growth. Europe has become the second largest marketplace. The presence of a large number of IT hub cities in Europe, as well as the emergence of many IT service solutions in recent years, have contributed to the growth of markets in the region.

Asia-Pacific is expected to grow at the fastest pace, with a greater CAGR than the rest of the world. This is due to the steady penetration of IT solutions in the healthcare industry, the desire for proper and faster healthcare services in light of the region's growing diseases and health issues, and the entry of new investment corporations.

Need any customization research on Healthcare Provider Network Management Market - Enquiry Now

KEY PLAYERS:

Some f the major key players of Healthcare Provider Network Management Market are as follows: Philips Healthcare, McKesson Corporation, Agfa Healthcare, E-MDS, Inc., e-Clinical works, Hewlett-Packard Enterprise, Carestream Health, Athenahealth Inc., GE Healthcare, and other players.