What Has Been the Progress and Growth of the Healthcare Reimbursement Market in Recent Years?
The healthcare reimbursement market has seen considerable growth due to a variety of factors.
• The market size of healthcare reimbursement has seen quick escalation recently, with projections to expand from $13.41 billion in 2024 to $15.73 billion in 2025, delivering a compound annual growth rate (CAGR) of 17.3%.
This growth trajectory during the historic period can be credited to factors such as the fee-for-service model, the extension of health insurance, the presence of third-party payers, and attempts to contain costs.
What Can Be Expected from the Healthcare Reimbursement Market Size?
The healthcare reimbursement market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of healthcare reimbursement is projected to experience a swift expansion in the upcoming years, reaching $26.71 billion in 2029 with a compound annual growth rate (CAGR) of 14.2%.
Various factors contributing to the anticipated expansion during the forecast duration involve value-based care, the growth of telehealth, reforms and policies in healthcare, as well as alternative methods of payment. The period under forecast also sees some key trends including reimbursement for telehealth, alternative payment models (APMs), the implementation of the Medicare Access and Chip Reauthorization Act (MACRA), alongside preauthorization and management of utilization.
What Are the Critical Driver Fuelling The Healthcare Reimbursement Market's Growth?
The escalation in the expense of healthcare coupled with supportive government initiatives play a pivotal role in advancing the growth of the healthcare reimbursement market. As indicated by the Journal of the American Medical Association (JAMA), the predicted expense for US healthcare is geared towards hitting $6 trillion, equating to $17,000 per individual, by 2027. The surge in the cost of healthcare and beneficial government policies leads to an increase in individuals opting for payer services, thus giving a boost to the expansion of the healthcare reimbursement market.
How Is The Healthcare Reimbursement Market segmented?
The healthcare reimbursement market covered in this report is segmented –
1) By Claims: Underpaid, Full Paid
2) By Payers: Private Payers, Public Payers
3) By Service Provider: Physician Office, Hospitals, Diagnostic Laboratories, Other Service Providers
Subsegments:
1) By Underpaid Claims: Denied Claims, Partial Payment Claims, Delayed Claims
2) By Full Paid Claims: Timely Paid Claims, Properly Paid Claims
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What Trends Are Shaping The Healthcare Reimbursement Market?
Organizations operating within the healthcare reimbursement industry are offering value-based care models to enhance patient experiences. These models prioritize the quality of patient care and the ability for healthcare providers to enhance their services according to specified benchmarks such as minimizing hospital readmissions, bettering preventative care, and employing certain types of accredited health technology to reduce healthcare expenses. For example, UnitedHealth reported a 29% increase in revenue per patient served in 2022, facilitated by an increase in patients managed under value-based agreements.
Who Are the Key Players In The Healthcare Reimbursement Market?
Major companies operating in the healthcare reimbursement market include:
• UnitedHealth Group Incorporated
• Aviva plc
• Allianz SE
• CVS Health Corporation
• BNP Paribas Group
• Aetna Inc.
• Nippon Life Insurance Company
• WellCare Health Plans Inc.
• AgileHealthInsurance
• Blue Cross Blue Shield Association
• Kaiser Foundation Health Plan Inc.
• Anthem Inc.
• Centene Corporation
• Humana Inc.
• Health Care Service Corporation
• Cigna Corporation
• Molina Healthcare Inc.
• Independence Health Group Inc.
• Health Net LLC
• Universal American Corporation
• Blue Shield of California
• Tufts Health Plan Inc.
• Fallon Community Health Plan Inc.
• CareSource
• Health Alliance Plan (HAP)
• Geisinger Health Plan
• SelectHealth
What Is The Most Dominant Region In The Healthcare Reimbursement Market?
North America was the largest region in the healthcare reimbursement market in 2023. Western Europe was the second largest region in the healthcare reimbursement market. The regions covered in the healthcare reimbursement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
