Government Initiatives to Ensure Better Performance of Healthcare Quality Management Market
Global Healthcare Quality Management Market: Information by Software Type (Business Intelligence and Analytics Solutions, Physician Quality Reporting Solutions, Clinical Risk Management Solutions, Provider Performance Improvement Solutions and others), Mode of Deployment (Web/Cloud-Based, On-Premise), Application (Data Management, Risk Management), End-User (Hospitals, Ambulatory Care Centers, Payers and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027
Overview:
The healthcare quality management market overview reveals that the coming years would see the market rising with a 13.40% CAGR to surpass a valuation of around USD 4,602.0 Million by the end of 2025. The market report mostly includes a forecast period covering 2019 to 2025. The healthcare quality management market size depends a lot on the systematic evaluation and improvement of the products that can increase the intake amount of the tool significantly. This intake would further grow by improving healthcare quality. The market is getting driven by the constant influx of unstructured data and mounting pressure from various end users like patients and insurance companies. At the same time, it is a well-realized fact that the proper inclusion of the IT sector in the industry can lower the pressure and assist in better maintenance of various records. Governments are also taking initiatives to provide the necessary support.
However, its initial installation cost is quite high and people with the knowledge regarding its operations are fewer than required, which can deter the market growth.
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Segmentation:
Software type, application, mode of deployment, and end-user are some of the major segments included as a part of the global healthcare quality management market. This would simplify the process of reviewing the market and ensure better growth opportunities.
By software type, the global market report on the healthcare quality management market has been segmented into physician quality reporting solutions, business intelligence & analytics solutions, provider performance improvement solutions, clinical risk management solutions, and others.
By mode of deployment, the report covering the global healthcare quality management market comprises web/ cloud-based and on-premise. The web/ cloud-based segment has a significant growth opportunity as the market can find it more cost-effective. Its easy-to-access features can ensure a better hike for the market.
By application, the market report on the healthcare quality management market segments it into data management and risk management.
By end-user, the market report on the healthcare quality management market can segment the market into payers, ambulatory care centers, hospitals, and others.
Regional Analysis:
The Healthcare Quality Management Market analysis in the report reveals that the Americas have the potential to retain its position at the top like 2018 and can lead the market in years to come. The regional market would benefit from the increasing IT infrastructure and its collaboration with the healthcare sector. Growing support from governments and healthcare insurance policies can make sure about the growth of the market.
Europe has similar market features and it can benefit from the increasing investment in the research and development sector. The market has high intake capacity and is well-acknowledged for its robust structure that accommodates such changes. Companies like France, Germany, and others can make sure that growth maintains its pace in the coming years as well.
The Asia Pacific market has the opportunity to record the fastest CAGR in the coming years. It would be bolstered by markets like India and China where investment is growing and can register significant changes in the healthcare sector. Also, it has been marked as a good tool that can offer seamless workflow against the pressing demands of a huge patient pool.
The Middle East & Africa would not witness much change in their present scenario due to the lack of scope for investment, especially in poor economies.
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Competitive Analysis:
There are several market players who are investing their time notably for the development of the global market. These processes would also ensure growth for them on an individual level. MRFR registered a few names in a bid to discuss the latest steps taken by these companies. This enables the report in making a decent assessment of the latest mergers, acquisitions, innovations, and other steps. The report spans across companies like Dolbey Systems (US), Cerner Corporation (US), Citiustech Inc. (US), Mckesson Corporation (US), Enli Health Intelligence (US), Quantros Inc(US), Truven Health Analytics (US), Premier, Inc (US), Medisolv Inc (US), Nuance Communications (US), and Cotiviti Holdings, Inc (US).
In December 2019, Blue Cross Blue Shield of Michigan announced that they have inked deals with seven organizations to curb their healthcare-related losses. Among them are four participating health systems Henry Ford Health System, Detroit; Trinity Health, Livonia; Ascension Health, Warren; and Michigan Medicine, Ann Arbor. The other three are physician organizations the Physician Alliance, St. Clair Shores; United Physicians, Bingham Farms; and Oakland Southfield Physicians.
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