Patient Access Solutions Market Worth Usd 2.4 Billion : Technological Advancements In The Field Of Hcit Outsourcing Companie

By Author: Rama Sharma
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This study involved four major activities for estimating the current size of the Patient access solutions market. Exhaustive secondary research was conducted to collect information on the market and its peer and parent markets. The next step focused on validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Revenue Share Analysis, Parent Market, and top-down approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and sub-segments.

According to the new market research report “Patient Access Solutions Market by product & service (Training services, Eligibility Verification, Medical Necessity, Pre-certification), Delivery Mode (Web & Cloud, On premise), End-User (Providers, HCIT Outsourcing Companies) – Global Forecast to 2025″, published by MarketsandMarkets™, the Patient Access Solution Market size is projected to reach USD 2.4 billion by 2025, at a CAGR of 7.2% between 2020 and 2025.

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103 – Tables
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Factors such as Increasing patient volume and subsequent growth in the demand for health insurance, the growing importance of denials management, declining reimbursement rates, increase in the volume of unstructured data in the healthcare industry, and the rising need to curtail escalating healthcare costs are the major factors driving the growth of this market.

Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. The pandemic has had considerable social and economic ramifications across a variety of industries and sectors. As of 28 October 2020, there have been 44,235,263 reported cases of COVID-19 (Source: Worldometer) from Africa, Asia Pacific, the Americas, Europe, and Oceania. The virus has resulted in 1,171,288 deaths. The true number of infected people would be much higher than the official total, as a large number of cases are asymptomatic and do not undergo testing.It could be assumed that there is a drastic change in the size of the Patient access solutions market.

This study analyzes the Patient access solutions market based on their product & service type, delivery mode type, and end-user.

Services segment to have the largest share in 2019

Based on product and service, the market is segmented into services and software. The services segment accounted for the largest share of the global market in 2019. The introduction of complex software and the need for system integration are expected to boost the services market in the coming years.

The web & cloud based solution segment accounted for the largest market share in 2019

Based on delivery mode, the patient access solutions market is segmented into web and cloud-based solutions and on-premise solutions. In 2019, the web and cloud-based solutions segment accounted for the largest share of the global patient access solution market. The flexibility of working from remote areas, affordability, and automated updating features are some of the key advantages associated with web and cloud-based solutions.

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Healthcare Providers was the largest end-user for Patient access solutions market in 2019

Based on end users, the market is segmented into healthcare providers, HCIT outsourcing companies, and other end users. In 2019, the healthcare providers segment accounted for the largest share of the global patient access solutions market. Growing HCIT adoption, significant growth in healthcare spending, increasing healthcare costs, and declining reimbursement rates are the major factors supporting the adoption of patient access solutions among healthcare providers.

Some of the prominent players in this market are McKesson Corporation (US), 3M (US), Cerner Corporation (US), Cognizant (US), Conifer Health Solutions (US), and Epic Systems Corporation (US).

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