Healthcare Claims Management Market Research Report – Forecast to 2027

Healthcare Claims Management Market Research Report: By Component (Software and Services), Delivery Mode (On-Premise and Cloud Based), Type (Integrated and Standalone), and by End-User (Healthcare Payers and Providers)- Forecast Till 2027

ID: MRFR/HCIT/4915-HCR | February 2021 | Region: Global | 90 pages

Healthcare Claims Management Market Overview

Healthcare claims management market is predicted to attain good market growth during the ongoing forecast period of 2021-2028. During the historic forecast period that had ended in 2019, the market was valued at a global market sum of USD 10.16 billion. For the ongoing forecast period, the market is expected to attain a Healthcare claims management market value of USD 13.93 billion by attaining a global market CAGR of 5.37% by the end of the period in 2023.

Healthcare claims management market is home to a variety of market processes related to the field of medicine. These processes comprise various tasks and market requirements such as organization, billing, filing, updating, and processing of medical claims related to the diagnosis, treatment, and medication scheduling and dealing of patients.

COVID 19 Analysis of Healthcare claims management market

This management software has rendered great support since the pandemic has hit the lives of people across the world. Since the pandemic has hit the international market, people are finding it difficult to adjust to the new normal trends. Also, the markets and businesses have been majorly disrupted. The non-availability of major factors like labor, raw materials, and investing are acting as major concerns for the functioning of an array of markets that have come to function after the outbreak of the pandemic. These are impacting the competitive degree of the production and manufacturing departments. It is becoming difficult for the departments to maintain a smooth supply chain mechanism by meeting the market demands of the global target audience. The people who have contracted the coronavirus are under hospital care or home isolation which needs to be monitored now and then. To get better and appropriate treatment, they need to make use of such devices or management systems and provide the health concerns and information that is true and best as per one’s knowledge for the improvement of their health.

However, the technological advancement and competitive degree of this management software will increase in the current forecast period. The government is rendering its support to similar ideas. Also, many of them are investing in similar steps across the globe that will lead to the global expansion of the market across various global regions. Also, the prominent market players are up for development for product variation, innovation, creation, mergers and acquisitions, and establishment, followed by the market launches for the target audience that is spread in various regions across the globe.

Healthcare Claims Management Market Dynamics

Drivers

The healthcare claims management market is driven to splendid market growth by the emergence of factors such as an improved degree of focus on quality healthcare services being provided to the target audience and the rising rate of adoption of cloud-based technology-related services. The claims management devices are being appreciated by a large range of global customers and hence, the demand for them is rising. This will lead to healthcare claims management market growth based on the predictions by the experts for the ongoing forecast period that will be ending in 2028.

Restraints

However, the healthcare claims management market is witnessing the integration of claims management solutions, data breaches, loss of confidentiality, and lack of skilled IT professionals in the healthcare departments. These are some of the factors restraining the growth of healthcare claims management market during the ongoing forecast period.

Technology Analysis

The rising employment of technology that is giving rise to the research and development initiatives for the expansion of the healthcare claims management market scenario will benefit the prospects for the market during the period that will be ending in 2028. Also, the funding has increased from the global governments and potential markets that will push the market for expansion initiatives and mergers beneficial in the international market premises and growing competition.

Study Objectives

The global healthcare claims management market report aims to conduct the market analysis based on the dynamics like drivers and restraints that are available to the market during the forecast period ending in 2028. These factors help in predicting the CAGR rate and final value of the market during the period for successful market functioning.

The AI healthcare claims management company report helps to study the healthcare claims management market segmentation that is functioning in different locations and hence, have a major role to play in pushing the prominent players to take major steps of innovation and innovation and further, enhance the prevailing competition in the healthcare claims management market.

The market report helps to analyze the market scope prevalent during the period ending in 2028 by witnessing the steps undertaken by the market players that are reflected in the recent developments undertaken by them during the period.

Segment Overview

The healthcare claims management market share is increasing owing to its demand from populations spread across various regions in the globe. The segments of the market are spread across various market vertices and these also help in having an insight into the revenue cycles and the potential of the market to grow as per the predictions. The market segmentation is stated as follows:

Based on the market components

The healthcare claims management market has been segmented based on components and includes software and services.

Based on the delivery mode

The global market has been segmented into the delivery mode and includes on-premise and cloud-based modes.

Based on the type

The healthcare claims management market size has been segmented based on the type and includes integrated and standalone.

Based on the market end-user

The global market has been segmented into healthcare payers and providers.

Based on the Global regions

The global market is functional in 5 major regions namely North America, the European countries, the APAC region, alongside the Middle East and African region.

Regional Analysis

The available information about the healthcare claims management market shows that the regional American market is expected to dominate the global healthcare claims management market during the forecast period that will be ending in 2028. The main reason behind this growth is the development of new and innovative treatments and technologies. Also, the market is witnessing a heavy inflow and emergence of investments that are increasing by various government agencies that result in a rapid improvement of the healthcare IT infrastructure, and the same is expected to create opportunities for healthcare claims management solutions providers in the years to come, as a part of the forecast period.

Competitive Landscape

The prominent players lending their services to the HCM healthcare claims market and helping it grow as per the predictions as laid down by the experts for the forecast period of 2021-2028 are as follows:

Cerner Corporation

McKesson Corporation

Accenture plc.

Genpact Limited

eClinicalWorks

Cognizant Technology Solutions Corporation

Optum, Inc.

Oracle Corporation

IBM Corporation

Conifer Health Solutions

Allscripts Healthcare Solutions, Inc.

nThrive, Inc

Avaya Inc.

Infor Inc.

Recent Developments

According to the global statistics that relate to the healthcare claims management market have been formulated by the National Health Expenditure Accounts (NHEA). The stats suggest that U.S. health care spending is likely to grow. The amount of expenditure was 4.3 percent in 2016, which is predicted to be reaching a total market value of $3.3 trillion or $10,348 per person which accounted for 17.9 percent during the ongoing forecast period that will be ending in 2028.

The global market size is further, witnessing an increase in the degree of funding and investment in the healthcare infrastructure and services that are prevalent in the Asia-Pacific region. The players in this region offer the huge market potential for the players to grow in the healthcare claims management solutions market during the ongoing forecast period that is forecasted to be ending in 2028.

The global market trends are expected to bloom during the forecast period of 2021-2028 owing to the proactive government initiatives to spread awareness and correct information about the benefits of this technology among the masses have supplemented the healthcare claims management market growth.

Intended Audience

Healthcare insurance companies and payers

Healthcare IT service providers and dealers

Healthcare institutions and providers like hospitals, medical groups, physician practices, diagnostic centers, pharmacies, ambulatory centers, and outpatient clinics

Venture capitalists and dealers

Healthcare BPO Vendors

Healthcare KPO Vendors

Government bodies and public sector

Corporate entities and groups

Accountable care organizations

Report Overview

The report helps in predicting the healthcare claims management market growth for the forecast period that ends in 2028 by considering the viewpoints that have been presented by the market leaders and experts. The report discusses the scope of the market by presenting the dynamics available to the market in the period that will be ending in 2028. Further, it plays an important role in having an understanding of the market functioning through its global segmentation and market players. Also, the report discusses the predictions of the mushrooming regions, and the report further mentions the recent developments undertaken by the global players of the market.

Report Scope:

Report Attribute/Metric	Details
Market Size	2027: Significant Value
CAGR	5.37% (2018-2023)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Component, Delivery mode type and End-user
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Cerner Corporation (US), McKesson Corporation (US), Athenahealth (US), eClinicalWorks (US), Optum, Inc. (US), Conifer Health Solutions (US), nThrive (US), Avaya Inc. (USA), Oracle Corporation (US), Infor Inc. (US), Allscripts Healthcare Solutions, Inc. (US), Accenture plc. (Ireland), IBM Corporation (US), Cognizant Technology Solutions Corporation (US) and Genpact Limited (US)
Key Market Opportunities	New product launches and R&D Amongst major key Players
Key Market Drivers	Increase in ageing population Rise in incidence of chronic diseases Improved focus on healthcare quality services Advent of innovative treatments & technologies

Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

With what growth rate the Healthcare Claims Management Market is expected to grow during the forecast period covering 2018 to 2023?

Healthcare Claims Management Market has shown possibilities of attaining 5.37% CAGR during the forecast period covering 2018 to 2023.

What factors are providing tailwinds to the Healthcare Claims Management Market?

Factors like rise in chronic diseases, aging population, better healthcare quality services, and inclusion of innovative treatments are propelling the growth for the Healthcare Claims Management Market.

What can hold back the normal growth of the Healthcare Claims Management Market?

Possibility of security breaches, lack of adept professionals to operate the system, and others can hold back the Healthcare Claims Management Market.

Which region would control the maximum Healthcare Claims Management Market share?

Americas would control the maximum Healthcare Claims Management Market share.

Which region has the chance to grow with the fastest CAGR in the Healthcare Claims Management Market?

Healthcare Claims Management Market would find the Asia Pacific as the fastest-growing region.

Table of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power of Suppliers

5.1.2 Bargaining Power of Buyers

5.1.3 Threat of New Entrants

5.1.4 Threat of Substitutes

5.1.5 Intensity of Rivalry

5.2 Value Chain Analysis

5.3 Investment Feasibility Analysis

5.4 Pricing Analysis

Chapter 6. Global Healthcare Claims Management Market, by Component

6.1 Introduction

6.2 Software