The value based care payment market consists of sales of value based care payment services by entities (organizations, sole traders and partnerships) that provide value based care payment in which healthcare providers such as hospitals are paid based on patient`s health outcome, quality, efficiency, cost, and patient experience. Only goods and services traded between entities or sold to end consumers are included.
The global value based care payment market is expected to decline from $1.66 billion in 2019 to $1.52 billion in 2020 at a compound annual growth rate (CAGR) of -8.39%. The decline is mainly due to the COVID-19 outbreak that has resulted in losses in attributions, missed outcome metrics, and struggles with reporting requirements. The market is then expected to recover and reach $3.03 billion in 2023 at a CAGR of 25.81%.