DUBLIN, Jan. 24, 2018 /PRNewswire/ --

The "Patient Access Solutions Market by Product & Service (Eligibility Verification, Medical Necessity, Prior-authorization, Denial Management), Delivery Mode (Web & Cloud, On-premise), End User (Providers, Outsourcing Companies)- Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The global patient access solutions market is projected to reach USD 1.74 Billion by 2022 from USD 1.21 Billion in 2017, at a CAGR of 7.6%.

The transition of the healthcare insurance market to high-deductible plans led to the increase in patient liability is expected to boost the adoption of patient access solutions such as eligibility verification and prior-authorization. Moreover, declining reimbursement rates and growing importance of denial management are some of the major factors driving the growth of the patient access solutions market. However, the high cost of deployment and lack of proper IT infrastructure in many emerging nations are hindering the adoption of these solutions among healthcare providers.

The report analyzes the global patient access solutions market by product & service, delivery mode, end user, and region. On the basis of product & service, the services segment accounted for the largest share of the global patient access solutions market in 2016. The introduction of complex software and the need for system integration are expected to boost the services market in the near future.

Based on delivery mode, the patient access solutions market is classified into web & cloud-based solutions and on-premise solutions. The web & cloud-based solutions segment accounted for the largest share of the patient access solutions market in 2016. The flexibility of working from remote areas, affordability, and automated updating features are some of the factors attributing to the larger share of the web & cloud-based solutions segment.

The global patient access solutions market by end user is segmented into healthcare providers, healthcare IT outsourcing companies, and other end users. In 2016, the healthcare providers segment accounted for the largest share of the market. The high share of this segment is mainly attributed to the growing healthcare IT adoption, increasing healthcare costs, significant growth in healthcare spending worldwide, and declining reimbursement rates.

Geographically, the global patient access solutions market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2016, North America accounted for the largest share of the patient access solutions market in 2016, followed by Europe and Asia Pacific.

North America's large share in the global market is attributed to factors such as stringent regulations, increasing government support for improving healthcare infrastructure, the need for reducing healthcare costs, increasing volume of claims denials, high number of private healthcare payers and well-established government payers, and the presence of a large number of healthcare IT companies.

The Asia Pacific market is comparatively new to patient access solutions; however, this region is expected to register the highest growth in the coming years. Countries such as Japan, Australia, New Zealand, South Korea, and Singapore are expected to provide significant growth opportunities for patient access solutions vendors.

Rising incidence of patient data breaches, high cost of deployment, shortage of IT skilled clinicians, and inadequacy of proper IT infrastructure in some emerging economies may hinder the adoption of patient access solutions among healthcare providers.

Prominent players in the patient access solutions market are McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian plc (Ireland), Optum (US), Conifer Health (US), The Advisory Board (US), 3M (US), Craneware (UK), The SSI Group (US), ZirMed (US), Cirius Group (US), and AccuReg Software (US).

Market Dynamics

Market Drivers

• Need to Maintain Regulatory Compliance
• Increasing Patient Volume And Subsequent Growth in the Demand for Health Insurance
• Growing Importance of Denials Management
• Declining Reimbursement Rates
• Rising Need to Curtail Healthcare Costs

Market Restraints

• Data Breaches And Loss of Confidentiality

Market Opportunities

• Huge Growth Potential in Emerging Healthcare It Markets

Market Challenges

• Dearth of Skilled It Professionals in the Healthcare Industry
• Reluctance to Adopt Patient Access Solutions
• High Deployment Costs

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Insights

7 Global Patient Access Solutions Market, By Product And Service

8 Patient Access Solutions Market, By Delivery Mode

9 Global Patient Access Solutions Market, By End Users

10 Patient Access Solutions Market, By Region

11 Competitive Landscape

12 Company Profiles

• 3M
• Accureg Software
• Cerner
• Cirius Group
• Cognizant
• Conifer Health
• Craneware
• Epic Systems
• Experian
• Mckesson
• Optum
• The Advisory Board
• The SSI Group
• Zirmed
  

For more information about this report visit https://www.researchandmarkets.com/research/2qljqd/1_74_billion?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Related Links

http://www.researchandmarkets.com

SOURCE Research and Markets