June 13, 2024
Accountable Care Solutions Market

Accountable Care Solutions Market is Estimated to Witness High Growth Owing to Increasing Healthcare Costs

The accountable care solutions market comprises population health management solutions, referral management solutions, health analytics solutions, patient engagement solutions, and payment management solutions. These solutions help streamline healthcare operations and lower costs, while improving quality of care and health outcomes. The accountable care solutions provide real-time insights and help providers coordinate care better across care settings. They also engage patients and empower them to play an active role in managing their health. The need for such solutions is growing due to the rising healthcare costs and demand for value-based reimbursement models.

The Global accountable care solutions market is estimated to be valued at US$ 42.54 Bn 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: Increasing adoption of cloud-based solutions, growing focus on patient-centric care, and rising need to curtail healthcare costs present significant growth opportunities for players in the accountable care solutions market.
Global expansion: Leading accountable care solutions providers are expanding their geographical footprint and enhancing their product portfolios organically as well as inorganically through acquisitions to better serve the global demand.

Market drivers

The key driver for the growth of the accountable care solutions market is the increasing healthcare costs. According to the Centers for Medicare & Medicaid Services, the US healthcare expenditures grew 9.7% to $3.8 trillion in 2019. With healthcare costs rising much faster than overall inflation, there is a pressing need to build efficiencies and improve care quality and outcomes. Accountable care solutions help optimize resources, enhance coordination, engage patients, and facilitate value-based reimbursement. This drives the demand for such solutions.

PEST Analysis

Political: The accountable care solutions market is undergoing regulatory changes that encourage value-based care and population health management. Economic: Rising healthcare costs and the need for more affordable and efficient care delivery models are driving demand for accountable care solutions that can help lower costs through improved coordination and management of patient populations.

Social: Growing emphasis on patient-centric care and awareness about population health is increasing uptake of accountable care solutions that promote proactive management of patient health using comprehensive data insights.

Technological: Advancements in big data analytics, cloud computing, and artificial intelligence are enabling the development of more sophisticated accountable care solutions that can better integrate and analyze diverse patient data sources to facilitate coordinated care and improve health outcomes.

In terms of value, the accountable care solutions market is concentrated in North America. Factors such as the increasing prevalence of chronic diseases, rising healthcare costs, and favorable government initiatives are driving higher adoption of accountable care solutions in the region. The Asia Pacific region is poised to be the fastest growing market for accountable care solutions during the forecast period due to rising medical tourism, growing geriatric population, increasing per capita healthcare expenditure, and growing penetration of healthcare IT solutions.

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