Patient Access Solutions Market Outlook 2019 with CAGR 7.5% Till 2023
“Global Patient Access Solutions Market Research Report 2018-2023”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
Patient Access Solutions involves Denials management, Payment estimation, Streamline pre-registration, and Improve patient collections. The point-of-service (POS) collections is increasingly seen in developing countries where patients are uninsured and pay out-of-pocket. Training and educating the front end staff is important as they are accountable for payment collection and this effects the revenue of the hospital.
Companies Include are: ACCUREG SOFTWARE, CERNER CORPORATION, CIRIUS GROUP, INC, COGNIZANT, CONIFER, EPIC SYSTEMS CORPORATION, EXPERIAN PLC, MCKESSON CORPORATION, OPTUM, INC., AND ZIRMED among others.
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Key Developments in the Market
Mar 2017: Mosaic Life Care, based in Missouri, has selected AccuReg to help standardize and automate the patient registration process across its network of 58 clinics
Rising Importance of Denials Management
Denials Management has a vital role in hospital revenue generation. Most hospitals are now dependent on third party providers for Denials Management service as they lack the expert knowledge, time to manage the reimbursement process. These providers with dedicated and skilled professionals are able to handle the denied claim and resubmit them. With their expertise these providers are able to increase the cash flow of their clients which were otherwise neglected by the hospitals to resubmit the denied claims. It is estimated that over 90% of the claim denials can be prevented with support from providers who have systems and knowledge experts in this field. Thus the rising need to eradicate claim denials is expected to contribute for the growth of patient access solutions market in the forecast period. The other factors such as Need to maintain regulatory compliance, Increasing Insured patient volume and growing need to reduce healthcare costs are driving the Patient Access Solutions Market.
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Data Privacy and Confidentiality
Healthcare being the most personal services provided in our society, for safer and appropriate delivery of care to patients and management of patient access solutions activities most providers collect various data points on patient personal information: medication history, disease history and surgical procedures undergone etc. There is an increasing concern over how healthcare providers use the patients information and protect his confidentiality. The hospitals healthcare databases are at risk of unauthorized use or access. Many organizations that obtain patient acknowledgement of the Notice of Privacy Practices are still in nascent stage to assist in the free flow of information between providers involved in a patient’s care.
US Lead the Market in North America Region
As of 2017, the US Patient Access Solutions Market holds the largest market share in North America region due to the presence of high quality healthcare system and modern medical technology in the country. Most hospitals in United States serving patients who are covered under Medicare or any privates insurances are facing difficulty in processing and submitting claims. Hospitals face challenge in accurately billing patients for a procedure or surgery done. This has created a huge opportunity for companies that provide patient access solutions to bridge the gap. With proper management of services such as patient registration, medical claim submission, automation in payment estimates etc, patient access solutions companies are streamlining the process and helping in generating extra revenue by decreasing the denial rate of claims.
The report has 200 tables and figures browse the report description and TOC:
Essential points covered in Global Patient Access Solutions Market 2018 Research are:-
- What will the Patient Access Solutions market size and the growth rate be in 2023?
- What are the key factors driving the Global Patient Access Solutions market?
- What are the key market trends impacting the growth of the Global Patient Access Solutions market?
- What are the challenges to Patient Access Solutions market growth?
- Who are the key vendors in the Global Patient Access Solutions market?
- What are the market opportunities and threats faced by the vendors in the Global Patient Access Solutions market?
- What are the key outcomes of the five forces analysis of the Global Patient Access Solutions market?
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Reasons to Buy
- Current and future Patient Access Solutions market outlook in the developed and emerging markets.
- Analyzing various perspectives of the market with the help of Porters five forces analysis.
- The segment that is expected to dominate the market.
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet (in excel)
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