June 16, 2024
Accountable Care Solutions Market

Accountable Care Solutions Market Poised to Witness High Growth Owing to Rising Need for Cost Reduction in Healthcare Systems

The accountable care solutions market comprises products and services that help coordinate patient care and sharing of health information among doctors, hospitals and other healthcare providers. Accountable care solutions enable better management of patient health records, coordination among doctors and ensures treatment recommendations are followed. This improves healthcare quality and patient outcomes while reducing costs. The growing healthcare expenditure and need for cost control have boosted adoption of such integrated healthcare solutions.

The Global Accountable Care Solutions Market is estimated to be valued at US$ 21.50 Billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 To 2031.

Key Takeaways

Key players: Key players operating in the Accountable Care Solutions Market are Cerner Corporation, IBM Corporation, UnitedHealth Group, Aetna, Inc., Allscripts Healthcare Solutions, Inc., Epic Systems Corporation, McKesson Corporation, Verisk Health, ZeOmega, Inc., eClinicalWorks, Inc., NextGen Healthcare, Athenahealth Inc., Constellation Software Inc., Optum, Inc, COTIVITI, INC, Verisk Analytics, Inc.
Key opportunities: Growing focus on value-based reimbursement models and need to reduce healthcare costs present significant growth opportunities for accountable care solution providers. Adoption is expected to rise as more providers look to shift to risk-based payment structures.
Global expansion: Leading players are focusing on expanding into international markets through partnerships and acquisition strategies. Asia Pacific region in particular is expected to offer high growth opportunities owing to improving healthcare infrastructures and spending in countries like China, India and others.
Market Drivers: The key driver for the growth of accountable care solutions market is the increasing need for healthcare organizations to reduce healthcare costs. Accountable care solutions help lower costs by improving care coordination, reducing unnecessary care and preventing medical errors. Government initiatives pushing for alternative payment models is also driving adoption of such integrated healthcare solutions.

PEST Analysis

Political: Government policies such as Medicare Access and CHIP Reauthorization Act of 2015 in US and healthcare reforms worldwide drive growth in accountable care solutions market.
Economic: Rising healthcare costs is motivating providers to implement population health management tools for improved outcomes and cost efficiencies.
Social: Increasing burden of chronic diseases and aging population are major factors driving demand for integrated care delivery models supported by accountable care solutions.
Technological: Advancements in big data analytics, cloud computing and mobile applications enable organizations to leverage clinical and financial data to improve population health management.
The accountable care solutions market in terms of value is highly concentrated in North America which is enabled by supportive healthcare reforms in the US and Canada. The Asia Pacific region is poised to be the fastest growing market during the forecast period owing to rapidly aging population, growing economies, prevalence of chronic diseases and increasing focus on healthcare delivery reforms.

Geographical regions where the market is concentrated include the United States, Canada and Western European countries like Germany, United Kingdom and France which have advanced healthcare systems and established accountable care organizations. The United States alone accounts for over 60% of market revenues due to comprehensive coverage under the Affordable Care Act and initiatives like Medicare Shared Savings Program that incentivize value-based care delivery.
The fastest growing region for accountable care solutions market is expected to be Asia Pacific region led by China, Japan and India. Factors such as rapidly increasing aging population, growing prevalence of chronic diseases, rise in healthcare spending and focus of governments to strengthen and reform public and private healthcare systems will drive high double-digit revenue growth in Asia Pacific region during the forecast period. Countries are adopting healthcare models incentivizing quality, coordination and cost efficiencies through programs similar to accountable care organizations.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.