Global Patient Access/Front-end RCM Solutions Market Analysis Report 2022: Growing Focus on Integration Platform as a Service (IPaaS) & Budgetary Constraints and Cost-Cutting Measures in Europe
Global Patient Access-Front-end RCM Solutions Market
Dublin, Oct. 07, 2022 (GLOBE NEWSWIRE) -- The "Patient Access /Front-end RCM Solutions Market by Product & Service (Training, Education, Medical Necessity, Pre-certification), Delivery Mode (Web & Cloud, On premise), End User (Providers, Healthcare BPO Service Providers) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global patient access solutions market is projected to reach USD 2.9 billion by 2027 from an estimated USD 1.9 billion in 2022, at a CAGR of 8.9%
Growth in this market is driven by the growing government initiatives to support the HCIT solutions, increasing patient pool, increasing demand for health insurance, and the growing need to curtail healthcare costs. However, lack of skilled IT professionals & high deployment costs are expected to restrain the growth of this market to a certain extent.
The web & cloud- based solutions segment is projected to be the largest segment & register the highest growth in the patient access solutions market, by application
Based on application, the data aggregation segment is projected to be the largest segment & register the highest growth during the forecast period. Factors responsible for the growth of this segment are the advantages offered by the solutions such as on-demand self-serving analytics, no upfront capital investment for hardware, extreme capacity flexibility, and the pay-as-you-go pricing model.
Healthcare Providers was the largest segment by the end user of patient access solutions market in 2021
Healthcare providers segment is projected to grow at the highest growth rate in the patient access solutions market in 2021. The increasing demand for standardizing patient data, large amounts of healthcare data generated, increasing focus on patient safety, significant growth in healthcare spending, rising medical error rates, growing denials, increasing healthcare costs is expected to drive the demand for patient access solutions services in the coming years.
APAC to witness the highest growth rate during the forecast period.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by factors such as the improving healthcare infrastructure, rising healthcare insurance coverage, and growing medical tourism.
Key players in the Patient access solutions Market
The key players operating in the patient access solutions market include Cognizant (US), McKesson Corporation (US), Cerner Corporation (US), Experian Plc (Ireland), 3M (US), Conifer Health Solutions (US), Waystar (US), Epic Systems Corporation (US), The SSI Group, LLC (US), Optum, Inc. (US), Cirius Group, Inc. (US), Craneware, Inc. (Scotland), Allscripts Healthcare Solutions, Inc. (US), Genentech, Inc. (US).
Premium Insights
Growing Importance of Denials Management to Drive Market
Web & Cloud-Based Solutions Segment to Dominate Market in 2021
UK to Register Highest Growth in Market During Forecast Period
North America to Dominate Market During Forecast Period
Market Dynamics
Drivers
Stringent Government Regulations for Accessing Patient Data
Increasing Patient Volume and Subsequent Growth in Demand for Health Insurance
Growing Importance of Denials Management
Declining Reimbursement Rates
Rising Need to Curtail Healthcare Costs
Restraints
Data Breaches and Loss of Confidentiality
Opportunities
High Growth Potential in Emerging Healthcare It Markets
Challenges
Dearth of Skilled Healthcare It Professionals
Reluctance to Adopt Patient Access Solutions
High Deployment Costs
Industry Insights
Estimated Spending on Regulatory Compliance by Healthcare Providers in US
US: Current Scenario of Healthcare Claims Management
Manual Vs. Electronic Claims Management Processes
Lack of Standardization Between Payer Policies
US: Adoption Trends for Patient Access Solutions
Patient Access Solutions and Value-Based Care
Hcit Expenditure Analysis
North America
Europe
Asia-Pacific
US: Hcit Adoption Trends
Industry Trends
Growing Focus on Integration Platform as a Service (Ipaas)
Budgetary Constraints and Cost-Cutting Measures in Europe
Company Profiles
Key Players
McKesson Corporation
Optum, Inc.
Cognizant
Cerner Corporation
Experian plc
3M
Conifer Health Solutions
Craneware, Inc.
Genentech, Inc. (Roche)
Allscripts Healthcare Solutions, Inc.
Epic Systems Corporation
Waystar
The SSI Group, LLC
Cirius Group, Inc.
Accureg Software
Other Players
Patient Access Solutions, Inc.
Kyruus
Exela Technologies, Inc.
Access One, Inc.
Vee Technologies
Conduent, Inc.
Finthrive
Plexis Healthcare Systems
Healthasyst
Virtusa Corporation
For more information about this report visit https://www.researchandmarkets.com/r/2heupb
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