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Population Health Management Platforms Market Segments, Opportunity, Growth 2026
Posted by Monicafmi31 on February 2nd, 2017
It is an open secret that the healthcare industry, like many others, is undergoing dramatic changes. Information Technology has brought about sweeping changes in every aspect of our lives and healthcare is no exception. The flip side of the IT boom is a fast-paced lifestyle that has led to problems like hypertension, diabetes, and stress. These affect not only the high-risk geriatric population but are also troubling middle-aged people and youth below the age of thirty now. People have begun to take their health a lot more seriously and there is a desire to lead a fitter life. The convergence of healthcare and IT is what resulted in the population health management platforms market. It is the collection of patient data across various IT health resources, analysis of that into a single, actionable record and then actions taken which can improve both patient health and organisation financial health. PHM improves group health by monitoring & identifying individual patients within the group. Business Intelligence tools are used to aggregate data & provide a comprehensive clinical picture of each patient. The scope of the population health management platforms market will only grow as more hospitals shift to population healthcare payment and delivery arrangements.
Population Health Management Platforms Market Drivers
Continued pressure to reduce costs, improving overall quality and implementing value-based payment programs are a few drivers for the population health management platforms market. Government initiatives like the Patient Protection and Affordable Care Act (ACA) provide incentives for quality & safety and also better care coordination. In addition to government regulation, a dramatic increase in ailments like diabetes, hypertension, and stress is making people more conscious of their health than ever before. These patients will demand better care than what they currently receive and they might want to access their medical data in one location. All these factors will be responsible for increasing the size of the population health management platforms market.
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Population Health Management Platforms Market Restraints
There are several challenges in the population health management platforms market. One is a disjointed workflow with the electronic health record (EHR). Barring the large EHR vendors, PHM solutions function as separate modules today, and they require an additional sign-on for a completely different UI. This causes a broken workflow and impedes training and adoption in a healthcare organisation. The second problem is a lack of data standardisation. Data stored across different health systems is often unstandardized and vocabulary, calculations, formulae may be differing. The same data might even mean something entirely different sometimes. The third constraint is restrictive regulations. Despite many governmental mandates to free health data, the ownership of it is still ambiguous. IT vendors, healthcare organisations, individual providers & health information exchanges (HIE’s) all claim to own this information. The fourth restraint in the population health management platforms market is the fragmented patient portals. Patients prefer a single point of access for all their healthcare records. Healthcare providers split it across different systems and EHR’s. They may also have multiple patient portals for the same person. For e.g. - One portal for patient care, another for their primary care specialists and a third for their bill payments!
Population Health Management Platforms Market Key Regions
North America is the largest population health management platforms market followed by the E.U and Asia. It is also anticipated to grow at the fastest rate due to implementation of the Affordable Care Act, Hospital Readmissions Reduction Program (HRRP) and an ageing population.
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Population Health Management Platforms Market Key Market Players
Some of the major players in the population health management platforms market are McKesson Corporation, Cerner Corporation, Allscripts, Inc., Verisk Health Inc., WellCentive, Inc., Health Catalyst LLC, i2i Systems, Inc., Conifer Health Solutions, LLC, OptumHealth, Inc., IBM Corporation and Healthagen, LLC.
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