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Healthcare Claims Management Market worth 13.93 billion USD by 2023

 



(Medical-NewsWire.com, November 13, 2019 ) The global healthcare claims management market was valued at USD 10.16 billion in 2017 and is projected to reach USD 13.93 billion by 2023, at a CAGR of 5.3% during the forecast period. Base year considered for the report is 2017 and the forecast period is 2018–2023.



The key factors driving the growth of this market are increasing patient volumes, expanding health insurance market, growing importance of denials management, and declining reimbursement rates.



The report describes and studies the global healthcare claims management market by component, type, delivery mode, end user, and region. It provides detailed information regarding the major factors influencing the growth of this market.



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By type, integrated solutions are expected to account for the largest share of the market in 2018



On the basis of type, the healthcare claims management market is broadly segmented into integrated solutions and standalone solutions. In 2018, the integrated solutions segment is expected to account for the largest share of this market. The high growth in this segment can be attributed to increasing demand for integrated solutions, which play an integral role in improving process efficiency and reducing costs.



By end user, the healthcare payers segment is expected to command the largest share of the market in 2018



On the basis of end user, the market has been segmented into healthcare payers, healthcare providers, and other end users. The payers segment is expected to command the largest share of the market in 2018. The large share of this segment can be attributed to the mandate for insurance companies to meet the regulatory requirements and reduce unnecessary penalties and punishments.



North America to dominate the market in 2018



North America is expected to account for the largest share of the healthcare claims management market in 2018, followed by Europe. The large share of North America can be attributed to the high and growing HCIT investments in the region and the presence of regulatory mandates favoring the implementation of healthcare claims management solutions. Also, several major global players are based in the US, owing to which the US has become a center for innovation in the healthcare claims management solutions market.



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Cerner Corporation (US), McKesson Corporation (US), athenahealth (US), eClinicalWorks (US), Optum, Inc, (US), Conifer Health Solutions (US), and nThrive (US) are the key players in the healthcare claims management solutions market. Other players involved in this market are DST Systems (US), Cognizant Technology Solutions (US), Allscripts Healthcare Solutions, Inc. (US), Context 4 Healthcare (US), Health Solutions Plus (US), GE Healthcare (US), RAM Technologies (US), Quest Diagnostics (US), The SSI Group (US), PLEXIS Healthcare Systems (US), and GeBBS Healthcare Solutions (US).



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