CAGR of Healthcare Claims Management Market is expected to grow 5.1% in the year (2019-2023), Predicts Market Research Future According to Current Market Situation

  • Carol Callahan
    Carol Callahan
  • May 18, 2019
  • Comments Off on CAGR of Healthcare Claims Management Market is expected to grow 5.1% in the year (2019-2023), Predicts Market Research Future According to Current Market Situation

Healthcare Claims Management

The Healthcare Claims Management Market Report 2019-2023 focuses on the global Healthcare Claims Management status, future forecast, growth opportunity, key market, and key players. 

The Healthcare Claims Management Market report studies the global market size of Healthcare Claims Management in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa focuses on the consumption of Healthcare Claims Management in these regions. This research report categorizes the global Healthcare Claims Management market by players/brands, region, type, and application. This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porters Five Forces Analysis.

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The various contributors involved in the value chain of Healthcare Claims Management include manufacturers, suppliers, distributors, intermediaries, and customers.

The Key Players covered in this study:-

  • Accenture
  • Athenahealth Inc
  • Cerner Corporation
  • Gebbs healthcare solutions
  • Genpact limited
  • Health solutions plus
  • IBM corporation
  • Mckesson corporation
  • Optum
  • Inc
  • and Oracle corporation among others.

Overview of Healthcare Claims Management Market Research Report 2019-2023:-

The Global Healthcare Claims Management Market is expected to register a CAGR of nearly 5.1 % during the forecast period, 2019-2023. United States healthcare claims management market will increase due to introduction of Patient Protection and Affordable Care Act (PPACA). North America is expected to have largest market share and Asia is also grow at highest CAGR due to advancements in healthcare IT solutions.

Rising Importance Of Denials Management

Denial of claims by insurers are very common and is the main cause for revenue loss for many healthcare providers. On first submission more than 30% of the healthcare claims are denied. Most hospitals fail to resubmit the claims. Denials Management has an important role to play in hospital revenue generation. Most hospitals are now dependent on third party providers for denials management service as they lack the expert knowledge and the time to manage the reimbursement process. Third party providers with dedicated and skilled professionals are able to handle the denied claim and resubmit them. With their expertise these providers are able to increase the cash flow of their clients which were otherwise neglected by the hospitals to resubmit the denied claims. It is estimated that over 90% of the claim denials can be prevented with support from providers who have systems and knowledge experts in this field. Denials management team maximize revenue collection by understanding the cause for claim denial along with helping the hospitals provide better patient satisfaction. These teams have become back bone for hospitals as they have rich experience in appealing to insurer for approval as per their filing process, thus contributing to the growth of healthcare claims management market. Other factors that drive this market include government initiatives supporting health insurance market and growing aging population with chronic diseases.

Patient Data Privacy and Security Concerns

Healthcare being the most personal services provided in our society, for safer and appropriate delivery of care to patients and management of Healthcare Claims Management activities, most providers collect various data points on patient personal information such as: medication history, disease history and surgical procedures undergone etc. There is an increasing concern over how healthcare providers use these patient’s information and protect its confidentiality. The loss of privacy of patient data is common when healthcare staff shares the information with other organizations despite the mandatory requirements in place to provide assurance to patients. The above factors may hinder the growth of healthcare claims management market in the forecast period. Other factor impeding the growth of this market include high deployment costs.

The US is the Chief Region for Healthcare Claims Management Market

Most hospitals in United States serving patients who are covered under Medicare or any privates insurances are facing difficulty in processing and submitting claims. Hospitals face challenge in accurately billing patients for a procedure or surgery done. This has created a huge opportunity for companies that provide Healthcare Claims Management to bridge the gap. Healthcare payers face the challenge of managing complex provider networks. In United States most providers and payers are dependent on third party companies that are efficient and pioneer in claims management services eg: PokitDoks Healthcare Claims Management suite automates claims processing thereby increase clean claim rates, and minimize revenue leakages. All the above factors may propel the Healthcare Claims Management market in United States over the forecasted period.

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Reasons to Purchase the Report

  • Current and future of Healthcare Claims Management Market outlook in the developed and emerging markets
  • Analysis of various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

    Key questions answered in the Healthcare Claims Management Market Report are.

    • What will the market size be in 2023 and what will the growth rate be?
    • What are the key market trends?
    • What is driving this market?
    • What are the challenges to market growth?
    • Who are the key vendors in this market space?
    • What are the market opportunities and threats faced by the key vendors?
    • What are the strengths and weaknesses of the key vendors? 

    Order a copy of Healthcare Claims Management Market Report 2019 @ https://www.360researchreports.com/purchase/13104465

    This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Healthcare Claims Management market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

    “We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

    Major Points from TOC of Healthcare Claims Management Market Research Report 2019-2023:

    1. INTRODUCTION
      1 Study Deliverables
      1.2 Study Assumptions
      1.3 Scope of the Study
    1. RESEARCH METHODOLOGY
    1. EXECUTIVE SUMMARY
    1. MARKET DYNAMICS
      1 Drivers
      4.1.1 Rise in Defence Expenditure of Many Countries
      4.1.2 Increasing Demand of Lightweight Materials in the Industry
      4.2 Restraints
      4.2.1 Need for High Investments in R&D
      4.2.2 Other Restraints
      4.3 Industry Value-Chain Analysis
      4.4 Porters 5 Force Analysis
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Consumers
      4.4.3 Threat of New Entrants
      4.4.4 Threat of Substitute Products and Services
      4.4.5 Degree of Competition
      4.5 Price Analysis
    1. MARKET SEGMENTATION
      1 By Application
      5.2 End-user Sector
      5.2.1 Residential
      5.2.2 Commercial
      5.2.3 Institutional
      5.3 Geography
      5.3.1 Asia-Pacific
      5.3.2 North America
      5.3.3 Europe
      5.3.4 South America
      5.3.5 the Middle East & Africa

      Continued…

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  • Carol Callahan