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Patient Access Solutions Market – Industry Share Analysis, Key Players and Future Prospect

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Patient Access Solutions Market – Industry Share Analysis, Key Players and Future Prospect

June 28
21:09 2022
Patient Access Solutions Market - Industry Share Analysis, Key Players and Future Prospect
The Patient Access Solutions Market is dominated by a few globally established players such as McKesson (US), Cerner (US), Optum (US), 3M (US) and Experian Plc (Ireland).
– In July 2019 RxCrossroads by McKesson launched AMP: Access for More Patients, a patient support solution.

The Research Report on “Patient Access Solutions Market by product & service (Training services, Eligibility Verification, Medical Necessity, Pre-certification), Delivery Mode (Web & Cloud, On premise), End-User (Providers, HCIT Outsourcing Companies) – Global Forecast to 2025″, is projected to reach USD 2.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 8.5%.

Need to maintain regulatory compliance;

In the US, the Patient Protection and Affordable Care Act (PPACA) has led to the restructuring of private insurance, Medicare, and Medicaid systems. In line with these changes, the “Meaningful Use” rules of the American Recovery and Reinvestment Act (ARRA) and Health Information Technology for Economic and Clinical Health Act (HITECH) have mandated the adoption of electronic medical/health records (EMR/EHR) that will increase data interoperability. This will ease data exchange between different healthcare organizations, including providers and payers. This, in turn, would drive the adoption of patient access solutions such as eligibility verification and medical necessity management.

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Industry Segmentation In Detailed:

Services segment to have the largest share in 2019

Based on product and service, the patient access solutions market is segmented into services and software. The services segment accounted for the largest share of the global patient access solutions market in 2019. The introduction of complex software and the need for system integration are expected to boost the services market in the coming years.

The web & cloud-based solution segment accounted for the largest market share in 2019

Based on delivery mode, the patient access solutions market is segmented into web and cloud-based solutions and on-premise solutions. In 2019, the web and cloud-based solutions segment accounted for the largest share of the global patient access solutions market. The flexibility of working from remote areas, affordability, and automated updating features are some of the key advantages associated with web and cloud-based solutions.

Healthcare Providers was the largest end-user for the Patient access solutions market in 2019

Based on end-users, the patient access solutions market is segmented into healthcare providers, HCIT outsourcing companies, and other end users. In 2019, the healthcare providers segment accounted for the largest share of the global patient access solutions market. Growing HCIT adoption, significant growth in healthcare spending, increasing healthcare costs, and declining reimbursement rates are the major factors supporting the adoption of patient access solutions among healthcare providers.

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Leading Key Players and Analysis:

The market is dominated by a few globally established players such as McKesson (US), Cerner (US), Optum (US), 3M (US) and Experian Plc (Ireland)

McKesson dominated the global patient access solutions market in 2019. McKesson operates through two business segments, which cater to the markets in developed as well as developing countries. The company focuses on strategies such as collaborations, agreements, and partnerships to maintain its market presence. McKesson has a significant global footprint in the US, Canada, Australia, Ireland, New Zealand, and Israel, owing to its strong sales and distribution network. The agreement with Change Healthcare to create a new healthcare information technology company by merging a majority of its McKesson Technology Solutions (MTS) business segment with substantially all of Change Healthcare’s business helped it to strengthen its position in this market.

Geographical Analysis in Detailed:

The Asia Pacific market is comparatively new to patient access solutions; however, this region is expected to register the highest growth in the coming years. Countries such as Japan, Australia, New Zealand, South Korea, and Singapore are expected to provide significant growth opportunities for vendors of patient access solutions.

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