How Has the Accountable Care Solutions Market Size Evolved in Recent Years?
The accountable care solutions market has seen considerable growth due to a variety of factors.
• In recent years, the market size for accountable care solutions has seen swift expansion. The growth projections predict that it will escalate from $25.42 billion in 2024 to $29.03 billion in 2025, displaying a compound annual growth rate (CAGR) of 14.2%.
The exceptional growth during the historic period is a result of factors such as increased healthcare spending, heightened adoption of patient-oriented solutions, a surge in the utilization of patient engagement tools, heightened demand for healthcare analytics, and the escalating endorsement of accountable care solutions by healthcare institutions.
What are the Market Size and Expected Growth Rates for the Accountable Care Solutions Market?
The accountable care solutions market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for accountable care solutions is forecasted to witness a significant surge in the coming years. The anticipated size of the market by 2029 is $48.77 billion with a compound annual growth rate (CAGR) of 13.8%.
The expansion during this forecasted period is expected due to the increasing embracement of value-based care, the growth in population health management, a growing emphasis on population health, increased consumer demand for enhanced care, and a rising acceptance of integrated care models. The main trends in this projected period encompass the utilization of value-based care, a heightened use of platform based on cloud, an increasing focus on patient engagement, embracing patient-centric solutions, and advancements in remote patient monitoring.
Which Key Drivers Are Propelling The Accountable Care Solutions Market's Growth?
The rise in chronic illnesses is anticipated to fuel the expansion of the accountable care market. These are long-term health conditions that stay with the patient for more than a year, usually requiring continuous attention and affecting normal life. The increase of chronic diseases is mainly caused by an older population, extended life expectancies, and increased incidences of conditions like heart disease and diabetes. Accountable care solutions assist in managing chronic illnesses by making patient care more efficient, improving outcomes, and reducing costs through preventive and coordinated strategies. For example, the National Center for Biotechnology Information (NCBI), a National Library of Medicine based in the US, projected in January 2023 that by 2035, about 35.66% of adults aged 50 and over would have at least one chronic condition, with this figure expected to reach 47.81% by 2050. Therefore, the rise in chronic illnesses is propelling the expansion of the accountable care market.
What Are The Key Segments Within The Global Accountable Care Solutions Market?
The accountable care solutionsmarket covered in this report is segmented –
1) By Component: Software, Services
2) By Solutions: Electronic Health Or Medical Records, Healthcare Analytics, Revenue Cycle Management Solutions (RCM), Patient Engagement Solutions, Population Health Management (PHM) Solutions, Claims Management Solutions, Healthcare Information Exchange (HIE), Other Solutions
3) By Deployment: On-Premise, Web And Cloud-Based
4) By End-User: Healthcare Providers, Healthcare Payers
Subsegments:
1) By Software: Population Health Management (PHM) Software, Electronic Health/Medical Records (EHR/EMR) Software, Care Management Software, Health Information Exchange (HIE) Software, Revenue Cycle Management (RCM) Software, Clinical Decision Support Systems (CDSS), Claims Management Software, Patient Engagement Software
2) By Services: Implementation Services, Consulting Services, Support & Maintenance Services, Training & Education Services, Managed Services, Analytics and Reporting Services.
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How Are New Trends Impacting The Size Of The Accountable Care Solutions Market?
Major players in the accountable care solutions market are turning to AI-based models to enhance their customer service and provide more effective healthcare options. AI-based models represent sophisticated systems crafted with pioneering algorithms and tech to augment healthcare delivery, efficacy, and efficiency. Their objectives are to ameliorate patient care, streamline resource distribution, and guarantee cost-effective administration by leveraging cutting-edge algorithms and data analytics. For example, in April 2024, US-based digital healthcare firm Innovaccer rolled out an AI-supported quality management tool. This tool aims to help accountable care organizations (ACOs) align with the new electronic clinical quality measures (eCQMs) mandated by the Centers for Medicare & Medicaid Services (CMS) for 2025. Key features of this solution encompass AI-driven predictive models for enhancing gap closure and patient engagement, sophisticated analytics and reporting functionalities for efficient handling of electronic clinical quality measures (eCQMs) and merit-based incentive payment system clinical quality measures (MIPS CQMs), along with a fluent data flow ensured by streamlined worklist management.
Who Are the Key Players In The Accountable Care Solutions Market?
Major companies operating in the accountable care solutions market are:
• UnitedHealth Group
• McKesson Corporation
• Optum Inc.
• Oracle Corporation
• Siemens Healthineers AG
• Koninklijke Philips N.V.
• GE Healthcare
• Infosys Limited
• Change Healthcare
• Aetna Inc.
• Athenahealth Inc.
• Lumeris
• Inovalon Holdings Inc.
• eClinicalWorks LLC
• NXGN Management LLC
• Health Catalyst
• Innovaccer Inc.
• ZeOmega Inc.
• MedeAnalytics Inc.
• HealthEC LLC
• Azara Healthcare LLC
• ISalus Healthcare LLC
• Ayoka L.L.C.
What Are The Regional Insights Into The Accountable Care Solutions Market?
North America was the largest region in the accountable care solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the accountable care solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
