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U.S. Population Health Management Solutions Market to Exhibit Remarkable CAGR of 23.9% from 2015 to 2023: Transparency Market Research

Albany - New York, Nov. 4, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new market report titled, "U.S. Population Health Management Solutions Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023." According to the report, the population health management solutions market in the U.S. was valued at US$ 3.4 bn in 2014 and is projected to expand at a CAGR of 23.9% from 2015 to 2023 to reach US$ 45.7 bn in 2023.

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The report explores the current and emerging population health management (PHM) solutions in the U.S. and draws upon the market analysis through three broad perspectives: source, mode of operation, and end-user. In the backdrop of the U.S. health care reforms including the Affordable Care Act, it has been anticipated that this act would induce hospitals and care providers to install PHM-based platforms as a measure to reduce cost burden on patients and enhance quality of service. PHM has emerged as a critical hospital management tool enabling hospitals and other care providers to connect and share electronic health record (EHR) data of patients within single premises or multiple care centers. This factor could propel market growth during the forecast period. In terms of mode of operation, the report analyzes the U.S. market by premise-based, cloud-based, and web-based population health management solutions. These segments of PHM solutions are being developed as a result of increasing adoption and growth of big data trend in the U.S. in the past few years. The cloud-based population health management systems segment is likely to witness the fastest growth due to the upward trend in health IT adoption.

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Several public and private health care providers in the U.S. are in the process of evaluating their health management policies due to rising health care costs. Health insurance coverage prevents out-of-pocket expenditure for large number of patients, wherein PHM is gaining importance among health care providers as they strive to improve patient care while keeping operational costs down. These factors are likely to drive the market during the forecast period. The report also incorporates key market dynamics, such as drivers, restraints, and opportunities, during the analysis of the population health management solutions market in the U.S.

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The report has been compiled with the prime intent of updating the stakeholders with the incumbent market dynamics and deployment of PHM solutions for better cost containment and higher efficiency in the health care service delivery systems for the U.S. population. The critical need for PHM services is expected to increase in the next few years due to rising demand for training and development, post sales client service, and system upgrade demand across the country. Therefore, the need of the hour is to integrate PHM through collecting and organizing information across the continuum of the U.S. health care system. This integration at the country level would further enable deployment of software for identifying risks and analyzing treatment cost, categorizing and prioritizing patients by type and severity of illness. The report offers a detailed description behind this high growth and outlines a possible growth trajectory for other segments within the U.S. population.

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Major players operating in the U.S. include Caradigm, Conifer Health Solutions, Health Catalyst, Healthagen, LLC, International Business Machines (IBM) Corporation, Lumeris, NextGen Healthcare Information Systems, LLC, OptumHealth, Inc., Persivia, Premier, Inc., The Advisory Board Company, Verisk Health, Wellcentive, Inc., and ZeOmega, Inc. Many of these players continuously innovate by developing new software and services besides improvising existing ones to keep pace with technological advances in order to maintain their positions in the global market.

The population health management solutions market in the U.S. has been segmented as follows:

U.S. Population Health Management Solutions Market, by Source

  • Software
  • Service

U.S. Population Health Management Solutions Market, by Mode of Operation

  • Premise-based
  • Cloud-based
  • Web-based

U.S. Population Health Management Solutions Market, by End-user

  • Health Care Providers
  • Government Insurance Providers
  • Private Insurance Providers
  • Pharmaceuticals Companies
  • Medical Device Organizations
  • Others (employers, diagnostic and imaging centers, and research institutes)

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The deepening interest in integrated healthcare systems will benefit the global healthcare information systems market, leading it to achieve a compounded annual growth rate (CAGR) of 7.1% between 2013 and 2019, says Transparency Market Research in its latest report. The report, titled 'Healthcare Information System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019' states that the market, will reach US$53.2 billion by 2019, growing strongly from its 2013 value of US$35.1 billion. The growth of the market is also propelled by an increase in the healthcare costs.The other market forces pinned down by the report are: An expansion in the aging population base, supportive government initiatives, and higher investments by companies in the healthcare IT market. In contrast, aspects that will impede the growth of the healthcare information systems market are identified as: A dearth of skilled and experienced professionals, high investment and maintenance costs of healthcare informatics, and interoperability glitches.

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research