Population Health Management Market refers to the market of software/solutions that are deployed by healthcare providers, government bodies etc. to provide quality healthcare services & to reduce the overall healthcare cost. PHM improves care delivery, patient engagement outside the hospital or healthcare facility & helps in financial improvement by managing & coordinating health care efficiently. Implementation of PHM solution may help clinical care providers improve both financial & clinical outcomes.

The Global population health management market is projected to grow at 20.78% CAGR during 2018-2026. The base year considered for the study is 2017 & the forecast period is between 2018 & 2026. Key drivers responsible for the market advancement are:

• Continued support for PHM in spite of the uncertainty of the affordable care act in the United States
• Government spending on healthcare expenditure
• Increasing healthcare expenditure
• Growing geriatric population
• Need for cost effective healthcare
• Application of artificial intelligence technique in PHM

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However, advancements in IT & big data capabilities along with surging healthcare expenditure is primarily fueling the population health management market globally. IT healthcare & capability of big data analytics benefits healthcare organizations by connecting & consulting customers in a real-time scenario. According to World Economic Forum, XX zettabyte of digital data was produced in 2013 & is expected to surge up to XX zettabytes by the end of 2023.  This is expected to fuel the demand of the population health management market. Furthermore, according to the United Nations, the global population has increased with XX% of the annual rate during the year 2005-2015. As a result of the rising burden of healthcare expenditures, governments are taking major initiatives for the optimum utilization of available resources & providing value-based care services across the globe.  For instance, initiatives such as e-health initiative in India & affordable care act in the US is focused on reducing readmission rate & conduct community health needs’ assessment.

The healthcare providers lead the end user segment of the population health management market by capturing the largest market share of approximately XX% in 2017. Healthcare providers deliver curative, preventive, rehabilitative health care & services in a systematic way to people, families, or communities. The adoption of PHM by the healthcare providers help in saving their portion of the cost for more expensive procedures as timely care can be given to the patient. Further, the high adoption of EHR in hospitals has positively impacted the growth of health care providers. On the other hand, the employer’s group is expected to have the fastest growth rate of XX% during the forecast period of 2018-2026. Employers group deploy PHM solutions to provide health care services to its eligible dependents & its employee-subscribers, which is mandatory as per the government. For instance, Southern Farm Bureau Life Insurance’s initiative brought together several quality vendors. The partners include Southern Health Network, Premier Medical Group & Medical Analysis. Southern Health Network is efficient in providing effective diabetes management for employers by using data analytics & is expanding its model for population health management as well.

Conversely, issues related to the safety of patient information have an adverse effect on the PHM market. Patient’s medical record or history enables healthcare providers, physicians & clinicians to gather significant patient information, which includes patient’s identification, medical history, treatment received, digital rendering of medical images, genetic information, dietary habits, and psychological profiles. Patient records & data could be experience a huge chance of security threats from many sources such as unauthorized agents, unauthorized alteration of resources, unauthorized disclosure of information, and unauthorized denial of service. Thus issues related to the safety of patient information affects the growth in this market and restrain the market growth. Other restraining factors for the market are; integration & implantation difficulties into legacy systems, the necessity of huge & long-term investments, the dearth of skilled analyst & data management capabilities. These factors are profoundly delaying the market growth.

The global population health management market has been segmented on the basis of components, mode of delivery, applications & end users.

Market by components:

• Software
• Service

Market by mode of delivery:

• Web Based
• Cloud Based
• Mobile Based
• On-Premises

Market by solution type:

• Hospital Readmission Reduction
• Automated Patient Center Medical Home
• No Show Rate Reduction
• Patient Outreach

Market by end users:

• Healthcare Providers
• Healthcare Payers
• Employer Group
• Government Bodies

The report scope is widely characterized on the basis of components, that include software & services. The total market revenue is calculated on the basis of the adoption of PHM systems. However, the report scope is restricted to software & services & does not include revenues generated from the hardwares used in PHM systems.

On the basis of geography, the global population health management market has been segmented into four major regions;

• North America Population Health Management Market : The United States & Canada.
• Europe Population Health Management Market : United Kingdom, France, Germany, Spain, & Rest of Europe.
• Asia-Pacific Population Health Management Market : China, India, Japan, Australia & Rest of Asia-Pacific.
• Rest of world: Latin America, Middle East & Africa.

Geographically, North America dominates the global population health management market with a total revenue of about $XX billion, as of 2017. As per OECD (U.S.), North America is a leading market in population health management due to healthcare spending by the United States. It shares about XX% of the total healthcare expenditure globally. Furthermore, the implication of affordable care act in the USA is also contributing towards the growth of the North American region. Patient Protection & Affordable Care Act, often referred to as the Affordable Care Act (ACA), or the Obamacare, was enacted on March 23, 2010. Through the successful deployment of the ACA in 2014, the share of the uninsured population of the United States nearly halved by 2016, with projections ranging from approximately XX million to XX million extra people who were covered in the healthcare insurance in 2016. The population health management program is expected to be extensively deployed in the U.S, supported by the Obamacare health insurance, given the cost-effectiveness & impactful nature of the program. On the flip side, Inkwood Research estimates that Asia-Pacific will be the fastest evolving market during the forecast years. Countries such as China, Japan & India, are the key contributors to the Asia Pacific market. The Population health management is increasingly adopted in countries such as India & China in the Asia Pacific, due to the presence of many diagnostic & speciality centers and hospitals. The population health management software has a high adoption rate in the present scenario as it is on the verge of becoming a pivotal tool for the hospital administration in the region.

The global population health management market is best evaluated on the basis of its components. The market can be roughly categorized into 2 components : software & services. Further, the market is segmented into end users, such as healthcare providers, healthcare payers, employer group & government bodies. The market is also segmented on the basis of its mode of delivery & applications. The mode of delivery segment includes web-based, cloud based, mobile based & on-premise. The applications segment includes hospital readmission reduction, automated patient center medical home, no-show rate reduction & patient outreach.

The major players in the global population health management market are;

• Optum Health
• Cerner Corporation
• International Business Machines Corporation (IBM),
• Conifer Health Solutions
• All Scripts Inc.

All these companies are looking for strategic initiatives such as partnerships, agreements, collaborations, product launch, and merger & acquisition to gain a competitive edge over other companies. In July 2018, Cerner & Lumeris collaborated to create an EHR-agnostic offering, Maestro Advantage(TM), designed to help providers who participate in value-based arrangements, including Medicare Advantage and provider-sponsored health plans. In July 2018, St. Andrew’s Toowoomba Hospital in Australia installed Philips’ next-generation EMR solution with advanced clinical analytics to drive patient safety. In June 2018, the Hazelden Betty Ford Foundation partnered with Optum to expand access to high-quality, evidence-based addiction treatment services, including speciality programs & medication-assisted treatment for opioid use disorder. In May 2018, Medecision launched AerialTM Appeals & Grievances, which enables health plans, particularly those serving medicare advantage, medicaid & dual eligible populations, to streamline these processes. In July 2017, Allscripts® Forge & Conversa signed a partnership agreement to Transform Doctor-Patient Communications. In June 2017, Deloitte announced the launch of its Care Intellect for healthcare providers that include ConvergeHEALTH Provider Intellect suite & LaborWise, for a focused analytics solution that identifies labour overspend.

Key Findings of the population health management market:

• The United States leads the global population health management market by capturing the largest market share of approximately XX% in 2017. The contribution of the United States in the PHM market is the primary reason behind the region’s dominance.
• Advancement in IT & big data capabilities is primarily driving the global population health management market.
• Asia Pacific is the fastest growing market. China, Japan, & India are the key contributors to the growth of the Asia Pacific market.
• The hospital readmission reduction is a dominating application due to the rising government initiatives & programs.
• Cloud is the most preferred mode of delivery, while the mobile-based mode of delivery is expected to be the fastest growing in the population health management market, globally during the forecast period.