Pune, India, March 06, 2023 (GLOBE NEWSWIRE) -- The Healthcare claims management refers to the multitasking process of organizing, billing, filing, processing, and updating medical claims related to patient diagnosis, medication, and treatment. Health insurance claims management software helps manage medical claims and reimbursement processes in the health insurance industry. The market is driven due to an increased focus on providing high-quality healthcare services to the general population and the rising adoption of technology-related services. Along with this new product, launches by the key players in the market are driving market growth. For instance, in February 2022, Five Sigma collaborated with Medlogix to integrate the platforms, which help insurers to improve decision-making, maximize efficiencies, increase ROI and enhance outcomes in medical claims management.
This information is given by Fortune Business Insights™ in an upcoming report, titled, “Healthcare Claims Management Market 2023-2030.”
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Industry Developments-
In November 2019, Sentry Data Systems, Inc., launched a pharmacy claims management solution to help reduce denials and improve claims processing.
In September 2020, One Team Health launched the PLEXIS Canopy Care Management solution in service of 20,000 insured members to expand its services in healthcare claims management.
In April 2021, Integrated Health Information Systems collaborated with trade associations General Insurance Association Singapore and Life Insurance Association Singapore to create an integrated platform that enables faster processing of hospitalization claims.
The report will cover the following key insights:
- Number of insured population-2021.
- Prevalence of oral disorders- for key countries/ regions.
- New product launches, by key players.
- Impact of COVID-19 on the market.
- Key Mergers, Acquisitions, and Partnerships.
The healthcare claims management market is driven by several key factors, including:
- Increasing healthcare expenditure: The healthcare expenditure is increasing globally due to the aging population, the rising prevalence of chronic diseases, and the increasing demand for better healthcare services. As a result, the demand for healthcare claims management solutions is also increasing.
- Growing number of healthcare insurance claims: The number of healthcare insurance claims is increasing due to the growing population and the rising prevalence of chronic diseases. This is leading to a need for more efficient and accurate claims management solutions.
- Implementation of electronic health records (EHRs): The implementation of EHRs is becoming more widespread, which is leading to an increased demand for integrated claims management solutions. EHRs provide a platform for providers and payers to exchange information electronically, which can help to streamline the claims management process.
- Adoption of value-based care: The shift towards value-based care is leading to a greater focus on outcomes and cost-effectiveness. As a result, there is a growing demand for claims management solutions that can help to improve the efficiency and accuracy of claims processing.
- Increasing need for cost savings: Healthcare providers and payers are under increasing pressure to reduce costs while maintaining high levels of service quality. Claims management solutions can help to reduce costs by improving efficiency and accuracy, reducing errors, and automating manual processes.
Overall, the healthcare claims management market is driven by the need for more efficient and cost-effective healthcare services, which is leading to a growing demand for innovative claims management solutions.
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The report consists of the profiles of key players, which include several players, including :
- Accenture plc
- Allscripts Healthcare Solutions Inc
- Athenahealth Inc
- Oracle Corporation (Cerner Corporation)
- Genpact Limited
- Conduent Inc
- IBM Corporation
- McKesson Corporation
- Optum Inc
The healthcare claims management market can be analyzed from a regional perspective, taking into account factors such as healthcare expenditure, healthcare infrastructure, and regulatory environment. Here is an overview of the healthcare claims management market by region:
North America: The North American healthcare claims management market is the largest in the world, due to the high healthcare expenditure, advanced healthcare infrastructure, and the presence of several key players in the market. The United States is the largest market in the region, accounting for the majority of the market share.
Europe: The European healthcare claims management market is also significant, driven by factors such as the increasing healthcare expenditure, aging population, and the adoption of electronic health records. The United Kingdom, Germany, and France are the largest markets in the region.
Asia-Pacific: The Asia-Pacific healthcare claims management market is growing rapidly, due to factors such as the increasing healthcare expenditure, rising awareness about healthcare insurance, and the adoption of digital health technologies. Countries such as China and India are expected to be key markets in the region.
Latin America: The Latin American healthcare claims management market is also growing, driven by factors such as the increasing healthcare expenditure and the adoption of electronic health records. Brazil and Mexico are expected to be the largest markets in the region.
Middle East and Africa: The Middle East and Africa healthcare claims management market is smaller compared to other regions, but is expected to grow in the coming years due to the increasing healthcare expenditure, rising awareness about healthcare insurance, and the adoption of digital health technologies. The United Arab Emirates and South Africa are expected to be key markets in the region.
Overall, the healthcare claims management market is growing globally, driven by the increasing demand for efficient and cost-effective healthcare services. The market is expected to continue to grow in the coming years, particularly in emerging markets such as Asia-Pacific and Latin America.
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Healthcare Claims Management Market Segmentation :
By Component
- Software
- Services
By Delivery Mode
- On Premise
- Cloud-based
By End-User
- Healthcare Providers
- Payers
By Geography
- North America (U.S. and Canada)
- Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe)
- Asia Pacific (China, India, Australia, and the Rest of Asia Pacific)
- Middle East & Africa (UAE, South Africa, and the Rest of the MEA)
- Latin America (Brazil, Mexico, and the Rest of LATAM
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Table Of Contents :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Global Statistics — Key Countries
- New Product Launches
- Pipeline Analysis
- Regulatory Scenario — Key Countries
- Recent Industry Developments — Partnerships, Mergers and Acquisitions
- Global Analysis, Insights and Forecast
- Key Findings/ Summary
- Market Analysis — By Product Type
- Market Analysis — By Distribution Channel
- Market Analysis — By Countries/Sub-regions
- Competitive Analysis
- Key Industry Developments
- Global Market Share Analysis
- Competition Dashboard
- Comparative Analysis — Major Players
- Company Profiles
- Overview
- Products and Services
- SWOT Analysis
- Recent developments
- Major Investments
- Regional Market Size and Demand
- Strategic Recommendations
TOC Continued…!
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