Revenue Cycle Management Software Global Market Report 2023 – By Product (Integrated, Standalone), By Function (Claim And Denial, Medical Biling And Coding, Patient Insurance Eligibility Check, Payment Remittance, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Other Functions), By Deployment (Web based, On premise, Cloud based) – Market Size, Trends, And Global Forecast 2023-2032

Medical billing outsourcing services are services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing. The main types of services in medical billing outsourcing are the front end and back end. The front-end is in charge of the patient experience, while the back-end is in charge of claims processing and reimbursement. To push income across the cycle, each component has its own departments, people, and policies. The different components include in-house, and outsourced and are used by various sectors such as hospitals and physician offices. The global medical billing outsourcing market is segmented - 1) By Service: Front End, Back End 2) By End User: Hospitals, Physician Offices 3) By Component: In-house, Outsourced The global medical billing outsourcing market size grew from $13.56 billion in 2022 to $15.12 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical billing outsourcing market is expected to grow from $23.76 billion in 2027 at a CAGR of 12.0%. The rising need for error minimization contributed to the growth of the medical billing outsourcing market. It is estimated that, in the US, 80% of medical bills contain errors. For instance, Equifax, a credit agency firm, found in its audit that hospital bills ranging above $10,000 have an average error amount of $1,300. It is also estimated that doctors lose around $125 billion each year due to poor billing practices in the USA. The rising need for error minimization and optimization of the billing process drove the medical billing outsourcing market. Major players in the medical billing outsourcing market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL and Allscripts. The variable cost charged in the medical billing services by the service provider is expected to limit the medical billing outsourcing market. According to the Medical Billing Service Review, there is a price for every service provided by medical billing service providers. The charge on the billing services is a percentage ranging between 3% to 10% per bill indicating more the number of patients, more the hospital or clinic should pay to the service providers. The variable cost in the medical billing services has a negative impact on the medical billing outsourcing market. The medical billing service providers are expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients. For instance, in 2021, Epic Systems, a US based software company providing cloud-based medical software that may be used by a wide range of practice kinds and sizes. With built-in EHR, medical billing and coding, patient management features, and more, their platform provides complete Revenue Cycle Management (RCM) capability. In June 2020, R1 RCM, a US-based healthcare revenue management cycle company serving hospitals and physician groups, agreed to acquire Cerner RevWorks for a deal amount of $30 million. The acquisition is expected to extend the comprehensive revenue cycle capabilities of R1 and help drive sustainable financial improvements for healthcare providers and to enhance their patients’ overall experience. North America was the largest region in the medical billing outsourcing market in 2022. Western Europe was the second largest region in the global medical billing outsourcing market analysis. The regions covered in the global medical billing outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical billing outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical billing outsourcing market includes revenues earned by entities by providing Medical Billing Services, medical coding services, patient demographic entry, submission of claims, medical coding analysis services, and ASC billing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The medical billing outsourcing market research report is one of a series of new reports from The Business Research Company that provides medical billing outsourcing market statistics, including medical billing outsourcing industry global market size, regional shares, competitors with a medical billing outsourcing market share, detailed medical billing outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the medical billing outsourcing industry. This medical billing outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Payer services help the payers to streamline their business processes and deliver better services to their customers. Organizations that determine service prices, collect payments, handle claims, and pay provider claims are known as payers in the health care sector. Examples of payers include Medicare, Medicaid, and health plan providers. The main outsourcing services in payer services are business process outsourcing services, knowledge process outsourcing services and information technology outsourcing services. The practise of contracting a specific work process or procedures to an external service provider is known as business process outsourcing (BPO). The different applications include revenue cycle management, healthcare reimbursement, medical billing outsourcing, others and is used by various sectors such as public payers, private payers. The global payer services market is segmented - 1)By Outsourcing Services: Business Process Outsourcing Services, Knowledge Process Outsourcing Services, Information Technology Outsourcing Services 2)By Application: Revenue Cycle Management, Healthcare Reimbursement, Medical Billing Outsourcing, Other Applications 3)By End-User: Public Payers, Private Payers The global payer services market size grew from $116.52 billion in 2022 to $134.65 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global payer services is expected to grow from $239.49 billion in 2027 at a CAGR of 15.5%. The increase in healthcare frauds is expected to drive the payer services market for tightening its security systems. Healthcare fraud includes malpractices such as individuals obtaining subsidized or fully-covered prescription pills that are actually unneeded and then selling them on the black market for a profit billing by practitioners for care that they never rendered, filing duplicate claims for the same service rendered, altering the dates and modifying medical records. The healthcare industry continues to suffer losses attributed to frauds and errors. For instance, according to the National Health Care Anti-Fraud Association, in the USA the loss from healthcare fraud was estimated to be $300 billion. Therefore, increasing healthcare fraud in the healthcare industry is propelling the demand for rigid security systems, thereby driving the growth of the payer services market. Major players in the payer services market are United Health Group, Anthem, Concentrix Corporation, United Healthcare, Anthem Inc., Aetna, Inc., CIGNA Corp., HealthPartners, Blue Cross Blue Shield of Massachusetts and Group Health Cooperative. The rising incidences of data breaches and loss of confidentiality have always been a major challenge in the payer service industry. In recent years, the healthcare sector has always been at the forefront in cases of breaching privacy and the resulting loss of confidential data. For instance, according to Hippa Journal, the official publication of the American Health Information Management Association, the Office for Civil Rights (OCR) of the Department of Health and Human Services (HHS) received 347 reports of healthcare data breaches involving 500 or more records between January 1, 2022, and June 30, 2022. Rising incidences of data breaches and loss of confidentiality are thus hampering the growth of the payer service market. Increased adoption of technologically advanced products is gaining substantial popularity in the payer services market. This has led to improved price transparency, affordable payer services, higher utilization of resources, increasing quality reach, and member satisfaction and loyalty towards the service provider. For instance, in January 2022, Jopari, a US-based customer-focused health information technology company supplying advanced medical EDI solutions to payers, launched an All-Payer Attachments model. This is a cost-effective solution that allows a standardized, efficient, and compliant approach that enables providers to deliver electronic Attachments to All Payers, regardless of the payer's preference for electronic or paper submission.This has led to greater transparency and economical alternative for payers. In April 2020, Molina, a US-based company engaged in providing managed care in the field of medicare and medicaid programs, announced that it will purchase Magellan Complete Care (MCC), a managed healthcare organization, in a deal worth about $820 million. The acquisition is expected to expand Molina’s geographic footprint in its core businesses of managed medicaid. Magellan Complete Care (MCC) is a US-based company offering care management solutions. North America was the largest region in the payer services market in 2022. Western Europe was the second largest region in the global payer services market share. The regions covered in the payer services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the payer services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The payer services market includes revenues earned by entities by providing BPO services, ITO services, and KPO services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The payer services market research report is one of a series of new reports from The Business Research Company that provides payer services market statistics, including payer services industry global market size, regional shares, competitors with a payer services market share, detailed payer services market segments, market trends and opportunities, and any further data you may need to thrive in the payer services industry. This payer services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A value-based care payment is a type of payment that compensates providers for both efficiency and effectiveness by linking payments for care delivery to the level of care they deliver. Value-based care payment is a system in which healthcare providers such as hospitals are paid based on patient's health outcome, quality, efficiency, cost, and patient experience. The main types of models in value based care payment are accountable care organization (ACO), bundled payments, patient-centered medical home (PCMH), and pay for performance (P4P). A healthcare organization that connects provider compensation to quality measurements and cost-cutting measures is known as an accountable care organization. The different deployment modes include cloud-based, on-premise and is used in various sectors such as providers, and payer. The global value based care payment market is segmented - 1) By Models: Accountable Care Organization (ACO), Bundled payments, Patient-Centered Medical Home (PCMH), Pay for Performance (P4P) 2) By Deployment: Cloud Based, On-Premise 3) By End User: Providers, Payer The global value based care payment market size will grow from $2.2 billion in 2022 to $2.47 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global value based care payment is expected to grow from $3.73 billion in 2027 at a CAGR of 10.9%. Rapid development in value-based health care services is expected to contribute to the tremendous growth of the value based care payment market. Healthcare cost curve and unnecessary health expenditures have been reduced to almost 5.6% on average due to value based healthcare services. The UnitedHealth predicted that $75 billion of its payments to medical care providers will be attached to value-based care relationships by the end of 2020. Likewise, the quantity of Accountable Care Organizations (ACO) is expanding, giving more protection and inclusion. For example, according to the analysis in the Journal of Health Affairs, there were more than 1,000 ACOs spread across the USA, which represented more than 1,400 contracts with commercial and government insurers covering more than 32 million Americans. Therefore, rapid expansion in value-based health care services is driving the value based care payment market demand by increasing the effective usage of services provided to customers focusing on value-based care model rather than the fee-for-service model. The lack of health care infrastructure is expected to limit the growth of value based care payment market. The main reason for this dearth is the lack of willingness of organizations to take the technological risk. For instance, according to a survey, a large portion of the organizations are yet to embrace artificial intelligence (AI) to accelerate value-based care. About 43% of healthcare organizations are uncertain about actualizing AI and another 21% are not prepared for any AI-related innovation. Moreover, only 13% are prepared for AI and have an execution plan set up attributing to the lack of trained staff with knowledge of data analytics. In addition to this, according to a survey of 2,900 medicinal executives through the span of a year, many healthcare facilities lack the infrastructure to integrate patient data effectively, which implies that value-based care payment cannot be used in these organizations. These factors are expected to impact healthcare infrastructure by limiting the value based care payment industry growth. Major players in the value based care payment market are Siemens Healthcare GmbH, Nextstep Solutions, Athena Health, NXGN Management LLC. and McKesson Corporation. Partnerships in value based care are gaining popularity among the providers as these partnerships allow partners such as manufacturers, payers, and provider organizations to co-develop programs, solutions, and initiatives collaboratively for the benefit of patients and healthcare systems. Value-based partnerships assist with conveying the highest value incentive to the healthcare system and society by concentrating on improving patient results with regard to the system and societal total costs. For instance, in June 2021, Humana, a US-based health insurance company acquired value-based home healthcare partner One Homecare Solutions (onehome) from WayPoint Capital Partners to enhance value-based care in home healthcare services. In March 2022, Signify Health, Inc., a Texas-based value-based healthcare platform, acquired Caravan Health for an undisclosed amount. Through this acquisition, a wider variety of value-based and shared savings models, including advanced primary care, speciality care bundles, and total cost of care programs, will now be accomplished by Signify Health. Caravan Health is a US-based company specialising in value-based payment health care. North America was the largest region in the value based care payment market in 2022. Western Europe was the second largest region in value based care payment market share. The regions covered in the global value based care payment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the value based care payment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The value-based care payment market includes revenues earned by entities by providing hospital value-based purchasing programs (VBP) and value-based care services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The value based care payment market research report is one of a series of new reports from The Business Research Company that provides value based care payment market statistics, including value based care payment industry global market size, regional shares, competitors with a value based care payment market share, detailed value based care payment market segments, market trends and opportunities, and any further data you may need to thrive in the value based care payment industry. This value based care payment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Healthcare reimbursement is a system in which medical expenses of a patient is paid by the insurance company. It is very useful in costlier medical treatments. The main claims types of healthcare reimbursement are underpaid, and full paid. The underpaid healthcare reimbursement includes payment for healthcare that is partially reimbursed by the government or insurance companies. The various types of payers include private payers, public payers and involves several service providers such as physician offices, hospitals, diagnostic laboratories, others. The global healthcare reimbursement market 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 The global healthcare reimbursement market size grew from $9.66 billion in 2022 to $11.33 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global healthcare reimbursement is expected to grow from $20.52 billion in 2027 at a CAGR of 16.0%. The increasing cost of healthcare and supportive government programs are the key factors that are driving the healthcare reimbursement market growth. According to the Journal of the American Medical Association (JAMA), US healthcare costs are expected to reach $6 trillion, which is $17,000 per person by 2027. According to Centres for Medicare & Medicaid Services, a Federal agency of the US government administering the Medicaid program, healthcare costs in 2021 touched $4.3 trillion. The rising healthcare cost and supportive government policies increase the number of people opting for payer services and thereby contribute to the growth of the healthcare reimbursement market. Major players in the healthcare reimbursement market are UnitedHealth Group, Aviva, Allianz, CVS Health, BNP Paribas, Aetna, Nippon Life Insurance, WellCare Health Plans, Agile Health Insurance and Blue Cross Blue Shield Association. Several incidences of fraud related to federal and state government health care programs hamper the growth of the healthcare reimbursement market. Medical insurance fraud and Medicare/Medicaid insurance fraud make up the majority of false claims in the USA. The National Health Care Anti-Fraud Association (NHCAA) reveals that unnecessary and duplicate tests and procedures, hacking into a patient’s medical records to submit false claims, billing services never rendered, falsifying diagnosis are some common situations that occur. According to the Department of Justice, one of the largest health care fraud enforcement actions across seven federal districts in the Northeastern United States, involved more than $800 million in loss and the distribution of over 3.25 million pills of opioids in ''pill mill'' clinics. The rise in healthcare fraud related to federal and state government programs create huge loss for the business restraining the growth of the healthcare reimbursement market. Companies in the healthcare reimbursement market are providing options of value-based care models to cater to better experiences for the patients. Value-based care models are based on the quality of patient's treatment and how well healthcare providers can improve their quality by adhering to certain metrics such as reducing hospital readmissions, improving preventative care, and using particular kinds of certified health technology and help lower healthcare costs. For instance, UnitedHealth stated that its payments to healthcare providers based on value-based care relationships was $75 billion in 2020. In Greenberg Advisors, a US-based provider of strategic M&A services provider, acquired Medical reimbursement for an undisclosed amount. The acquisition would strengthen the capabilities of company and help it better serve the patients. Medical Reimbrsement is a US-based medical billing services provider providing reimbursement services to healthcare patients. North America was the largest region in the healthcare reimbursement market in 2022. Western Europe was the second largest region in the global healthcare reimbursement market share. The regions covered in the global healthcare reimbursement market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the healthcare reimbursement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The healthcare reimbursement market includes the revenues earned by entities by providing discount from billed charge services, fee-for-service, value based reimbursement services, and bundled payment services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products. The healthcare reimbursement market research report is one of a series of new reports from The Business Research Company that provides healthcare reimbursement global market statistics, including healthcare reimbursement industry global market size, regional shares, competitors with a healthcare reimbursement global market share, detailed healthcare reimbursement market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare reimbursement industry. This healthcare reimbursement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Hospital daily cash benefit insurance pays out cash while you are in the hospital. It does not replace comprehensive or significant medical coverage. Instead, it is intended to assist you in meeting additional costs that your other insurance may not cover. The main types of hospital daily cash benefit insurance are a rider, standalone cover, and part of health insurance. The rider refers to the hospital cash rider that provides a fixed benefit to the holder. The various terms of coverage include lifetime coverage, term insurance. The different benefits included are emergency admission, accidents, medical treatment, and surgery. The service providers involved are public and private. The global hospital daily cash benefit insurance market is segmented - 1) By Type Of Plan: Rider, Standalone Cover, Part Of Health Insurance 2) By Term Of Coverage: Lifetime Coverage, Term Insurance 3) By Benefit: Emergency Admission, Accident, Medical Treatment, Surgery 4) By Service Provider: Public, Private The global hospital daily cash benefit insurance market grew from $41.58 billion in 2022 to $47.68 billion in 2023 at a compound annual growth rate (CAGR) of 14.7% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital daily cash benefit insurance market is expected to grow from $70.8 billion in 2027 at a CAGR of 10.4% . Rising out of the pocket health care expenditure is expected to drive the hospital's daily cash benefit insurance market. Out-of-pocket payments (OOPs) are direct payments made by individuals to healthcare providers at the time of service use. According to the Centers for Medicare and Medicaid Services (CMS) report on National Health Expenditures 2020, the expenditure grew to $4.1 trillion in 2020 and accounted for a GDP of 19.7%. During hospitalization, out-of-pocket hospital expenses include user fees, medicine, diagnostics, procedure charges, transportation, informal charges, and others that have to be borne by the insured. The hospital's daily cash benefit insurance provides a certain fixed amount to the insured during their hospital stay, which the person is free to use as per his/her needs. Hence, an increase in out-of-pocket health care expenditure aids in the growth of the hospital's daily cash benefit insurance market. Major players in the hospital daily cash benefit insurance market are Cigna Corporation, AIA Insurance Group, UnitedHealth Group Inc., Allianz SE, Zurich Insurance Group Ltd., Express Scripts Holding Company, AXA, Aviva PLC., Aetna Inc., and Apollo Munich Health Insurance . The inability to cover the complete medical treatment expenses is anticipated to hinder the hospital's daily cash benefit insurance market’s growth. A hospital cash plan only provides a daily allowance through hospitalization instead, a health insurance plan provides more comprehensive coverage. On average, the hospital's daily cash benefit insurance provides the insured with an amount ranging from $100 to $3000 per day, which is not sufficient for the complete coverage of the treatment, making it a supplement to the health insurance plans. This scenario is likely to act as a hindrance to the growth of the market. Companies are collaborating with digital payment platforms to provide hospital daily cash benefits to policyholders to provide a simple and hassle-free claim process to policyholders for faster reimbursement. For instance, in July 2020, ICICI Lombard partnered with Phone Pe to offer hospital daily cash benefits to Phone Pe users. Similarly, in April 2020, Airtel Payments Bank partnered with Bharti AXA General Insurance for providing hospital cash benefit insurance to their customers. In January 2020, HDFC, an Indian-based provider of housing finance with a presence in banking, life and general insurance, asset management, venture capital, real estate, education, deposits, and educational loans, acquired a majority stake in Apollo Munich health insurance for $334 million. Through this acquisition, Apollo Munich health insurance is renamed HDFC ERGO health insurance to improve customer service experience with a wider range of products and a network of 10000+ cashless hospitals. Apollo Munich Health Insurance is an India-based company formed by the collaboration between Apollo Hospitals and Munich which offers services such as life, health, accident, and travel insurance. North America was the largest region in the hospital daily cash benefit insurance market share in 2022. Asia-Pacific was the second largest market in global hospital daily cash benefit insurance market. The regions covered in the global hospital daily cash benefit insurance market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the hospital daily cash benefit insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The hospital daily cash benefit insurance market consists of sales of hospital daily cash benefit insurance products by entities that are engaged in directly underwriting daily hospital cash plans that provide a lump sum amount in case of hospitalization and this amount can be used as per the liberty of the insured. The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by the insured. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The hospital daily cash benefit research report is one of a series of new reports from The Business Research Company that provides hospital daily cash benefit statistics, including hospital daily cash benefit industry global market size, regional shares, competitors with hospital daily cash benefit share, detailed hospital daily cash benefit segments, market trends and opportunities, and any further data you may need to thrive in the hospital daily cash benefit industry. This hospital daily cash benefit research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Care management solutions are a suite of services that patients can used to manage their chronic health conditions. They are used to provide a complete set of services and activities designed to assist people with chronic or complicated medical illnesses. The main types of components in care management solutions are software and services. The services refer to a comprehensive suite of services and activities that help patients with chronic or complex conditions manage their health. The care management solutions are delivered via on-premises and cloud-based methods that are used in several applications such as disease management, case management, and utilization management. It is employed in hospitals and clinics, accountable care organizations (ACOs), health insurance providers, and other end users. The global care management solutions market is segmented - 1) By Component: Software, Services 2) By Delivery Mode: On-premise, Cloud-based 3) By Application: Disease Management, Case Management, Utilization Management 4) By End User: Hospitals And Clinics, Accountable Care Organizations (ACOs), Health Insurance Providers, Other End-Users The global care management solutions market size grew from $14.14 billion in 2022 to $16.56 billion in 2023 at a compound annual growth rate (CAGR) of 17.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the care management solutions is expected to grow to $29.47 billion in 2027 at a CAGR of 15.5%. The increase in investment in digital healthcare is expected to propel the growth of the care management solutions market going forward. Digital healthcare prevents disease and lowers healthcare costs while helping patients monitor and manage chronic conditions. It can also tailor medicine for individual patients. A digital healthcare solution would allow users to share and receive files online via desktops, laptops, and mobile devices. For instance, according to the Healthcare Information and Management Systems Society, a US-based not-for-profit healthcare organization, in 2021, the financing for digital communication technology grew by 72% during the COVID-19 outbreak, and telemedicine alone received $4.3 billion in financing in 2020. The total amount invested in digital health has hit an all-time high of $26.5 billion. Therefore, the increasing investment in digital healthcare is driving the demand for the care management solutions market. Major players in the care management solutions market are Cerner Corporation, International Business Machines Corporation, Koninklijke Philips N.V., ZeOmega Infotech Private Limited, i2i Population Health, EPIC Systems Inc., Salesforce Inc., Pegasystems Inc., Mediware Information Systems, Allscripts Healthcare Solutions Inc., EXL Service Holdings, Exlservice Holdings Inc., Zeomega Inc., Health Catalyst Inc., Conduent Inc., Envolve Health, Trizetto Corporation, Healthsmart Holdings Inc., and Axispoint Health. Technological advancement is a key trend gaining popularity in the care management solution market. Major companies operating in the care management solutions sector are focused on developing new technological solutions to strengthen their position in the market. For instance, in October 2020, VirtualHealth, a US-based comprehensive care management platform, introduce HELIOS Essentials. HELIOS Essentials provides unprecedented configuration and potent AI-powered automations for specialist care providers and mid-size healthcare companies. It dismisses data silos, streamlines operations, uses less IT resources, and enables value-based, whole-person care. This launch represents another step forward for the company and the care management solutions market. In January 2021, Royal Philips, a US-based health technology company, acquired Capsule Technologies, Inc. for a deal amount of $635 million. Through this acquisition, Philips would expand its patient care management offering and look forward to participating strengths, adding a vendor-neutral medical device combination that further unlocks the ability of medical device data to improve patient monitoring and management. Capsule Technologies is a US-based company that provides medical device integration, clinical surveillance, and patient monitoring for hospitals. North America was the largest region in the care management solutions market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the care management solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the care management solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The care management solutions market includes revenues earned by entities by providing case and disease management and value-based services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced.It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The care management solutions market research report is one of a series of new reports from The Business Research Company that provides care management solutions market statistics, including care management solutions industry global market size, regional shares, competitors with a care management solutions market share, detailed care management solutions market segments, market trends and opportunities, and any further data you may need to thrive in the care management solutions industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Healthcare reimbursement is a system in which medical expenses of a patient is paid by the insurance company. It is very useful in costlier medical treatments. The main claims types of healthcare reimbursement are underpaid, and full paid. The underpaid healthcare reimbursement includes payment for healthcare that is partially reimbursed by the government or insurance companies. The various types of payers include private payers, public payers and involves several service providers such as physician offices, hospitals, diagnostic laboratories, others. The global healthcare reimbursement market 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 The global healthcare reimbursement market size grew from $9.66 billion in 2022 to $11.33 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global healthcare reimbursement is expected to grow from $20.52 billion in 2027 at a CAGR of 16.0%. The increasing cost of healthcare and supportive government programs are the key factors that are driving the healthcare reimbursement market growth. According to the Journal of the American Medical Association (JAMA), US healthcare costs are expected to reach $6 trillion, which is $17,000 per person by 2027. According to Centres for Medicare & Medicaid Services, a Federal agency of the US government administering the Medicaid program, healthcare costs in 2021 touched $4.3 trillion. The rising healthcare cost and supportive government policies increase the number of people opting for payer services and thereby contribute to the growth of the healthcare reimbursement market. Major players in the healthcare reimbursement market are UnitedHealth Group, Aviva, Allianz, CVS Health, BNP Paribas, Aetna, Nippon Life Insurance, WellCare Health Plans, Agile Health Insurance and Blue Cross Blue Shield Association. Several incidences of fraud related to federal and state government health care programs hamper the growth of the healthcare reimbursement market. Medical insurance fraud and Medicare/Medicaid insurance fraud make up the majority of false claims in the USA. The National Health Care Anti-Fraud Association (NHCAA) reveals that unnecessary and duplicate tests and procedures, hacking into a patient’s medical records to submit false claims, billing services never rendered, falsifying diagnosis are some common situations that occur. According to the Department of Justice, one of the largest health care fraud enforcement actions across seven federal districts in the Northeastern United States, involved more than $800 million in loss and the distribution of over 3.25 million pills of opioids in ''pill mill'' clinics. The rise in healthcare fraud related to federal and state government programs create huge loss for the business restraining the growth of the healthcare reimbursement market. Companies in the healthcare reimbursement market are providing options of value-based care models to cater to better experiences for the patients. Value-based care models are based on the quality of patient's treatment and how well healthcare providers can improve their quality by adhering to certain metrics such as reducing hospital readmissions, improving preventative care, and using particular kinds of certified health technology and help lower healthcare costs. For instance, UnitedHealth stated that its payments to healthcare providers based on value-based care relationships was $75 billion in 2020. In Greenberg Advisors, a US-based provider of strategic M&A services provider, acquired Medical reimbursement for an undisclosed amount. The acquisition would strengthen the capabilities of company and help it better serve the patients. Medical Reimbrsement is a US-based medical billing services provider providing reimbursement services to healthcare patients. North America was the largest region in the healthcare reimbursement market in 2022. Western Europe was the second largest region in the global healthcare reimbursement market share. The regions covered in the global healthcare reimbursement market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the healthcare reimbursement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The healthcare reimbursement market includes the revenues earned by entities by providing discount from billed charge services, fee-for-service, value based reimbursement services, and bundled payment services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products. The healthcare reimbursement market research report is one of a series of new reports from The Business Research Company that provides healthcare reimbursement global market statistics, including healthcare reimbursement industry global market size, regional shares, competitors with a healthcare reimbursement global market share, detailed healthcare reimbursement market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare reimbursement industry. This healthcare reimbursement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The health and medical insurance market consists of sales of health and medical insurance by entities (organizations, sole traders, and partnerships) that are engaged in directly underwriting health and medical insurance policies. Group hospitalization plans and health maintenance organization HMO establishments (except those providing health care services) that provide health and medical insurance policies are included in this industry. Clients of these insurance providers are the general public/companies who buy medical and health insurance policies, it can be either through intermediary or direct selling. Only goods and services traded between entities or sold to end consumers are included.

The global health & medical insurance market is expected to grow from $385.24 billion in 2020 to $390.54 billion in 2021 at a compound annual growth rate (CAGR) of 1.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $653.4 billion in 2025 at a CAGR of 13.7%.

The health & medical insurance market covered in this report is segmented by type into hospitalization insurance; hospital daily cash benefit insurance; critical illness insurance; domiciliary insurance; others.

The increase in the prevalence of chronic diseases and the expected rise in the geriatric population contributed to the growth of the health & medical insurance market. The elderly population is growing rapidly and is expected to continue, thereby generating a high demand for health & medical insurance to reduce the burden of healthcare expenditure. According to the World Health Organization (WHO), the world’s population aged 60 years and above is projected to increase from 900 million in 2015 to 2 billion by 2050. Moreover, according to the United States Census Bureau, the population aged 65 and over is expected to reach 83.7 million by the end of 2050 in the USA. The probable surge in the aging population suffering from chronic and other diseases requires critical monitoring and surgical procedures, which contributes to the health & medical insurance market.

The long waiting period for pre-existing diseases and an increase in premium with age limit the growth of the health & medical insurance market. The greatest disadvantage of health & medical insurance is cost. The probability of health problems rises with an increase in age and hence the premium amount also goes up with age. Many individual policies can cost several hundred dollars a month and family coverage can be even higher. For instance, in 2020, the average national cost for health insurance in the USA is $456 for an individual and $1,152 for a family per month. Moreover, several medical insurance plans have a waiting period of up to 2-3 years for pre-existing diseases. In addition to this, many health insurance policies do not provide coverage for all types of diseases and conditions. Hence, the premium and long waiting period with health & medical insurance have a negative impact on market growth and expected to restrain the health and medical insurance market during the forecast period.

Major players operating in the health & medical insurance industry are undergoing strategic partnerships and collaborations to expand their consumer base and geographical presence which is likely to be a leading trend in the health & medical insurance market. For instance, in January 2020, Cigna, a health service company, and Oscar, a US-based technology-driven health insurance company announced a partnership to provide commercial health solutions to small businesses. Moreover, in August 2019, Aditya Birla Health Insurance Company Limited, a subsidiary of Aditya Birla Capital collaborated with Axis Bank to provide comprehensive health insurance solutions to its customers.

In November 2018, CVS Health, a US-based healthcare company acquired Aetna Inc., an American healthcare company for $69 billion. Both companies are expected to bring together the largest pharmacy chains and health insurers in the country. CVS Health together with Aetna Inc. plans to provide consumers with improved healthcare access at reduced costs to healthcare experts in home and communities across the country. Aetna Inc. is a US-based managed healthcare company engaged in selling healthcare insurance and related services to meet the needs of individuals, families, and healthcare providers.

The major players covered in the global health and medical insurance market are Allianz Group, UnitedHealth Group Incorporated, AIA Group Limited, Anthem Inc., AXA Equitable Life Insurance Company, China Life Insurance Company Limited, Cigna, HCSC Group, State Farm Group, Zurich Insurance Group, Berkshire Hathaway Inc., Prudential plc, Nippon Life Insurance Company.

The countries covered in the global health and medical insurance market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The regions covered in the global health and medical insurance market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The global health and medical insurance market is segmented -

1) By Type: Hospitalization Insurance, Hospital Daily Cash Benefit Insurance, Critical Illness Insurance, Domiciliary Insurance, Others

2) By Service Provider: Private, Public

3) By Demographics: Minor, Adults, Senior Citizen