Global HCM Healthcare Claims Management Market Research Report: By Component (Software and Services), by Delivery Mode (On-Premise and Cloud Based), by Type (Integrated and Standalone), and by End-User (Healthcare Payers and Providers) – Forecast Till 2023

The Global Healthcare Claims Management Market is finding growth with the high inclusion of IT management sector. The HCM Healthcare Claims Management Market is all set to score 5.37% CAGR between 2018 and 2023 that has been considered as the forecast period by Market Research Future (MRFR). The process of the healthcare claims management includes organizing various segments, updating, filling, billing, and processing of various medical claims that has a connection with treatment, diagnosis, and medication of several patients.

The global market for the healthcare claims management can get bolstered by the surge in ageing population, high rise of the recording of chronic diseases, improved healthcare quality services, better reimbursement policies, and inclusion of innovative treatments & technologies. However, the global market has several procedures that can detract the growth. For instance, data breach of sensitive issues, lack of skilled professionals in the IT sector, better infrastructure in several sectors, and others can hold back the growth of the market. However, its ability to provide seamless flow of the work can provide traction to the market and steer the market back to the growth track.

Healthcare Claims Management Market Competitive Landscape:

McKesson Corporation (US), Cerner Corporation (US), Optum, Inc. (US), Athenahealth (US), eClinicalWorks (US), Avaya Inc. (USA), Conifer Health Solutions (US), nThrive (US), Allscripts Healthcare Solutions, Inc. (US), Oracle Corporation (US), Infor Inc. (US), Cognizant Technology Solutions Corporation (US), Accenture plc. (Ireland), IBM Corporation (US), and Genpact Limited (US) are impacting the global healthcare claims management market.

In November 2019, Sentry Data Systems, Inc. has launched a new software like Claims Manager Plus that can be taken into consideration as an innovative new solution for the market for healthcare claims management .

Healthcare Claims Management Market Segmentation:

The global healthcare claims management market can be segmented by component, delivery mode type, and end-user. These segments have significant amount of details regarding various factors that can inspire better market growth.

By component, the global market for healthcare claims management can be segmented into software and services. The software segment is all set to benefit significant growth in the coming years.

By delivery mode, the global market for healthcare claims management can be segmented into on-premise and cloud-based. The cloud-based segment is all set to score better growth in the coming years.

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By type, the global market for healthcare claims management can be segmented into integrated and standalone.

By end-user, the global market for healthcare claims management can be segmented into healthcare payers and providers. Various healthcare payers are going to provide much traction to the global market.

Healthcare Claims Management Market Regional Analysis:

The global market for healthcare claims management is all set to get dominated by the Americas where various regulatory mandates are going to provide thrust to the regional market. The market in this region is going to leverage the superlative IT structure, also, several other factors like the influx of investment, participation of both government and private bodies, and others can play better role to influence growth in the coming years.

Europe’s market would be the second largest global market for healthcare claims management. This market growth is all set to prosper from the diagnosis of various chronic diseases, better integration of IT infrastructure, well-established healthcare system, and several other factors can establish the regional market.

The Asia Pacific region would be the fastest to record sizeable growth. The regional healthcare sector is improving fast as governments and various private bodies are showing significant interest in taking the industry further ahead. The region is trying to establish a seamless patient care management owing to which the growth would be superlative.

The Middle East & Africa (MEA) market can register only a sluggish growth owing to the presence of several poor economies. Technological advantages are getting implemented in countries like Qatar, Saudi Arabia, Dubai, and others.

Objectives of this Study

# To define, describe, segment, and forecast the healthcare claims management market by component, delivery mode, type, end user, and region

# To provide detailed information about factors (drivers, restraints, opportunities, and challenges) influencing healthcare claims management market growth

# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players

# To forecast the size of the healthcare claims management market segments with respect to North America, Europe, Asia, and the Rest of the World (RoW)

# To strategically analyze the market structure and profile the key players of the global healthcare claims management and comprehensively analyze their core competencies

# To track and analyze competitive developments such as agreements, collaborations, and partnerships; product deployments, product launches, and enhancements; acquisitions; and expansions in the healthcare claims management market

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Target Audience for This Study:

# Healthcare insurance companies/payers

# Healthcare IT service providers

# Healthcare institutions/providers

# Venture capitalists

# Healthcare BPO Vendors

# Healthcare KPO Vendors

# Government bodies

# Corporate entities

# Accountable care organizations

Factors Influencing Global Growth:-

The key factors driving the growth of this market are increasing patient volumes, expanding health insurance market, growing importance of denials management, and declining reimbursement rates.

Restraints:

# High Cost of Deployment

Opportunities:

# Emerging Countries

# Cloud-Based Solutions

# Artificial Intelligence in Health Insurance

# Rising Adoption of Electronic Health Records

Challenges:

# Integration of Claim Management Solutions

# Data Breaches and Loss of Confidentiality

# Lack of Skilled It Professionals in Healthcare

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Monetary Growth Expectations, Globally:

According to the Research Study conducted by MarketsandMarkets™: The healthcare claims management market is expected to reach USD 13.93 billion by 2023 from an estimated USD 10.77 billion in 2018, at a CAGR of 5.3%.

Geographical Growth Scenario:

North America is expected to account for the largest share of the healthcare claims management market in 2018, followed by Europe. The large share of North America can be attributed to the high and growing HCIT investments in the region and the presence of regulatory mandates favoring the implementation of healthcare claims management solutions. Also, several major global players are based in the US, owing to which the US has become a center for innovation in the healthcare claims management solutions market.

Leading Market Players:

# Cerner Corporation (US)

# McKesson Corporation (US)

# athenahealth (US)

# eClinicalWorks (US)

# Optum, Inc, (US)

# Conifer Health Solutions (US) and many more…

Product deployments, product launches, & approvals; acquisitions; and partnerships, agreements, and collaborations were the key strategies adopted by key players

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