The Patient Access Solutions Market Size was valued at USD 1.96 billion in 2023, and is expected to reach USD 3.90 billion by 2031, and grow at a CAGR of 9% over the forecast period 2024-2031.
Healthcare practitioners can use patient access solutions to provide their consumers with a better shopping experience. Customers can use the solutions to find, book, and pay for services that are available online. Patient access solutions work with the healthcare claim processing system and connect hospitals with their patients until the billing process is completed. The system gives hospital employees the ability to have better conversations with their patients and take financial responsibility for them. As a result of these solutions, the overall human effort and claim denials are reduced, and the patients' financial experience is improved.
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Patient access to high-quality health and medical care is one of the foundational cornerstones of global healthcare systems. To expedite support procedures, maximise the utilisation of resources, including healthcare workers, and improve the quality of service, hospitals are progressively adopting and deploying patient access solutions. As a result, the market for patient access solutions has grown in response to the increasing focus on improving patient satisfaction and increasing profitability. The introduction of enterprise intelligence systems has had a significant impact on the industry's evolutionary contours.
DRIVERS
Maintaining regulatory compliance is essential.
An increase in the number of patients and, as a result, an increase in the need for health insurance
The management of rejections is becoming increasingly important.
Rates of reimbursement are decreasing.
The need to reduce healthcare expenditures is becoming more pressing.
RESTRAINTS
Violation of privacy and data breach
OPPORTUNITIES
Emerging healthcare IT markets have tremendous development potential.
CHALLENGES
In the healthcare industry, there is a scarcity of qualified IT professionals.
Adoption of patient access options is proving to be difficult.
Exorbitant deployment costs
As a result of the outbreak of COVID-19, physicians and other health professionals have become increasingly distant from each other, necessitating the development of patient access solutions and the exchange of accurate and timely patient health information and insurance applications to chronically ill patients. Software and technology can provide a secure basis for electronic health records transfer, access, and acquisition. Thanks to these technologies that allow for the exchange and analysis of health data, both patients and health care professionals can make operational and financial decisions with more knowledge.
By Products And Service Type
Services and software create a market for patient access solutions. The global patient access point solutions market was led by a segment of services. In the coming years, the services market is predicted to grow due to the advent of sophisticated software and the need for system integration.
By Delivery Mode
Web and cloud-based solutions, as well as on-premise solutions, make up the patient access solutions industry. The web and cloud-based solutions segment dominated the worldwide patient access solutions market. Some of the primary advantages connected with web and cloud-based solutions include the freedom of working from remote locations, cost, and automated updating features.
By End-User
Healthcare providers, HCIT outsourcing businesses, and other end users are the segments of the patient access solutions market. The worldwide patient access solutions market was dominated by the healthcare provider’s sector. The adoption of patient access solutions among healthcare providers is being fueled by rising HCIT use, considerable increases in healthcare spending, rising healthcare prices, and diminishing reimbursement rates.
By Products And Service Type
Services
Support & Maintenance
Training & Education
Implementation
Software
Eligibility Verification
Medical Necessity Management
Pre-Certification & Authorization
Claims Denial & Appeal management
Payments Estimation Software
Claims Payment Assessment Software
By Delivery Mode
Web & Cloud Based
On-Premise
By End-User
Healthcare Providers
HCIT Outsourcing Companies
Although the Asia Pacific market for patient access solutions is still relatively new, it is likely to grow at the fastest rate in the future years. Vendors of patient access solutions may anticipate to see significant growth in countries like Japan, Australia, New Zealand, South Korea, and Singapore.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key players of Patient Access Solutions Market are as follows: MEDHOST, TeleTracking Technologies, Inc., PokitDok, Inc, KYRUUS, UNITED BIOSOURCE LLC, Optum, Experian Information Solutions, Inc., Genentech USA, Inc., TransUnion LLC, GAFFEY Healthcare and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 1.96 Billion |
| Market Size by 2031 | US$ 3.90 Billion |
| CAGR | CAGR of 9% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Products And Service Type (Services (Support & Maintenance, Training & Education, Implementation), Software (Eligibility Verification, Medical Necessity Management, Pre-Certification & Authorization, Claims Denial & Appeal management, Payments Estimation Software, Claims Payment Assessment Software) • By Delivery Mode (Web & Cloud Based, On-Premise) • By End-User (Healthcare Providers, HCIT Outsourcing Companies) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | MEDHOST, TeleTracking Technologies, Inc., PokitDok, Inc, KYRUUS, UNITED BIOSOURCE LLC, Optum, Experian Information Solutions, Inc., Genentech USA, Inc., TransUnion LLC, GAFFEY Healthcare. |
| DRIVERS | • Maintaining regulatory compliance is essential. • An increase in the number of patients and, as a result, an increase in the need for health insurance • The management of rejections is becoming increasingly important. |
| RESTRAINTS | • Violation of privacy and data breach |
Ans: The Patient Access Solutions market size was valued at US$ 1.96 Bn in 2023.
The management of rejections is becoming increasingly important, Rates of reimbursement are decreasing are drivers of Patient Access Solutions market.
Asia Pacific market for patient access solutions is still relatively new, it is likely to grow at the fastest rate in the future years.
MEDHOST, Tele Tracking Technologies, Inc., Pokit Dok, Inc, KYRUUS, UNITED BIOSOURCE LLC, are the key players of the Patient Access Solutions Market.
Ans: The Patient Access Solutions Market is to grow at a CAGR of 9% over the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Patient Access Solutions Market Segmentation, By Products and Service Type
8.1 Services
81.1 Support & Maintenance
8.1.2 Training & Education
8.13 Implementation
8.2 Software
8.2.1 Eligibility Verification
8.2.2 Medical Necessity Management
8.2.3 Pre-Certification & Authorization
8.2.4 Claims Denial & Appeal management
8.2.5 Payments Estimation Software
8.2.6 Claims Payment Assessment Software
9. Patient Access Solutions Market Segmentation, By Delivery Mode
9.1 Web & Cloud Based
9.2 On-Premise
10. Patient Access Solutions Market Segmentation, By End-User
10.1 Healthcare Providers
10.2 HCIT Outsourcing Companies
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 MEDHOST
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 TeleTracking Technologies, Inc.
12.3 PokitDok, Inc
12.4 KYRUUS
12.5 UNITED BIOSOURCE LLC
12.6 Optum
12.7 Experian Information Solutions, Inc.
12.8 Genentech USA, Inc.
12.9 TransUnion LLC
12.10 GAFFEY Healthcare
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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