This report aims to provide detailed insights
into the global healthcare provider network management market. It provides
valuable information on the type, procedure, application, and region in the
market. Furthermore, the information for these segments, by region, is also
presented in this report. Leading players in the market are profiled to study
their product offerings and understand the strategies undertaken by them to be
competitive in this market.
Revenue Growth Analysis:
The global healthcare provider network management market is expected to
reach USD 5.8 billion by 2025 from USD 2.9 billion in 2020, at a CAGR of 14.9%
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Key Factors Driving Market Growth:
The implementation of stringent
federal mandates in the US, the growing focus on improving the quality of care
through the effective use of payer reporting requirements, the need to curtail
escalating healthcare costs, and the in-house shortage of skilled personnel are
the key drivers of the healthcare provider network management market growth. Rising patient population worldwide and
subsequent increase in the burden on healthcare systems will further upsurge
the demand for healthcare provider network management solutions.
The healthcare provider network management market includes Tier I and II
vendors like Cognizant, Optum, Genpact, Infosys, Atos, and among others. The
companies have a large market spread across various countries in North America,
Europe, Asia Pacific and Rest of the World. The global COVID-19 outbreak has
positively impacted the business to a certain extent. Companies are opting for
provider network management infrastructure, as it helps to manage providers’
networks with greater efficiency, processes claims with greater accuracy, and
reduces costs and errors while lowering the burden on providers, especially in
these times of pandemic.
Services segment is anticipated to be the fastest growing segment during the
forecast period
The market is segmented into services and software, based on the component.
The services segment is estimated to command the largest share of the market in
2020, and is projected to register the highest CAGR during the forecast period.
Factors such as the reduction in costs, improvement in claims auto adjudication
rates, and improvements in operational efficiencies are expected to trigger the
demand for provider network management services in the coming years.
Cloud-based delivery mode is projected to grow at the highest CAGR during
the forecast period
The healthcare provider network management market is segmented into
on-premise delivery mode and cloud-based delivery mode. The cloud-based
delivery mode is expected to show high growth rate during the forecast period.
The major factors driving the growth of the cloud-based solutions market are
comparatively lower capital expenses and operational costs incurred alongside
better scalability, flexibility, and affordability.
The Asia Pacific
Healthcare provider network management services market to grow at the highest
CAGR during the forecast period
While North America is expected to dominate the
global healthcare provider network management market in 2020, followed by
Europe, the Asia Pacific region is expected to register the highest CAGR during
the forecast period. The high regional growth is attributed to the various
factors such as the evolution of the healthcare ecosystem, growing burden on
the healthcare industry, and increasing government initiatives for HCIT
adoption in the region are supporting the growth of the healthcare provider
network management market in this region.
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The major players operating in the healthcare provider network management
services market include Cognizant (US), Ayasdi, Inc. (US), Change Healthcare
(US), Optum, Inc. (US), Genpact Limited (US), Infosys BPM Ltd. (India), Atos
Syntel, Inc. (France), Mphasis, Ltd. (India), SKYGEN USA (US), Evolent Health,
Inc. (US), OSP Labs (US), HGS Ltd. (India), Virtusa Corp. (US), EXL (US), Vee
Technologies (US), symplr (US), Appian (US), Inovalon (US), Wipro Limited
(India), and Virsys12, LLC (US).