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(Medical-NewsWire.com, February 16, 2019 ) The overall global accountable care solutions market is expected to grow from USD 8.75 billion in 2016 to USD 18.85 billion by 2021 at a CAGR of 16.6%.
In the light of the escalating healthcare costs, currently, the global healthcare industry is increasingly looking forward to reduce the administrative and clinical expenditure by implementing various healthcare IT tools in their organizations. With the growing demand for simplified data-sharing among various stakeholders in the healthcare industry, majority of the software vendors are focusing on incorporating greater degree of interoperability in their product portfolio. This is one of the key factors driving innovation in the global accountable care solutions market. Healthcare provider solutions (such as EHR/EMR, healthcare analytics, RCM, PHM, HIE and CDSS) and payer solutions (such as claims management solutions, payment management solutions) are at the focus of such innovations from vendors in the accountable care solutions market.
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Although, the global accountable care solutions market is highly fragmented in nature with the presence of a number of small and medium-sized vendors operating at local and regional levels, Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), McKesson Corporation (U.S.), and Allscripts Healthcare Solutions, Inc. are some of the leaders in the healthcare provider solutions market. Whereas, IBM Corporation (U.S.), UnitedHealth Group (U.S.), Aetna, Inc. (U.S.) are leaders in the healthcare payer solutions market. While product innovation remains at the center of the strategic growth initiatives pursued by a majority of the key vendors in the global accountable care solutions market, players are also focusing on increasing their presence in the high-growth markets through the mode of expansions, strategic marketing and distribution agreements, and acquisitions.
Cerner Corporation’s leading position in the accountable care solutions market is mainly attributed to its broad product portfolio with major focus on clinical healthcare IT solutions. While nearly 89% of the company’s revenue is attributed to its operations in the North American market, currently, the company is focusing to strengthen its presence in the international markets as well, through the mode of expansions and agreements. For instance, in February 2015, Cerner Corporation acquired Siemens’s health information technology business unit for ~USD 1.3 billion. This acquisition will strengthen Cerner’s client base in the global market and will expand its reach in European countries such as Germany, Austria, Spain, Sweden, and Norway.
Epic Systems Corporation offers a wide range of both provider and payer accountable care solutions, which has enabled the company to achieve a leading position in the accountable care solutions market. However, due to its major presence in the U.S, the company generates a majority of its revenue from North American operations. Similarly, Mckesson Corporation (U.S.) and Allscripts Healthcare Solutions, Inc. are the leading providers of EHR systems and related solutions in the U.S.
Some other leading players in the global accountable care solutions market include IBM Corporation (U.S.), UnitedHealth Group (U.S.), Aetna, Inc. (U.S.), eClinicalWorks, Inc. (U.S.). These companies have well-established sales and distribution networks. They also make significant investments in R&D activities to add innovative technologies and products to their portfolio. With a strong portfolio of healthcare IT solutions and ceaseless efforts to develop innovative products, these companies are likely to maintain their strong position in the market in the coming years as well.
Industry players adopted the strategy of agreements, collaborations, and partnerships, product launches, and mergers and acquisitions as major growth strategies to achieve growth in the global accountable care solutions market. In order to strengthen their market position and customer base, companies adopted new product launches as a key growth strategy. This strategy also helped companies to garner larger market shares and strengthen their customer base.
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Source: EmailWire.Com 
Source: EmailWire.com
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