Care Management Solutions Market - Global Leaders & Their Growth Strategies


Posted October 22, 2020 by mmvaidya

EXL Service Holdings, Inc. and Zeomega are one of the leading players in the global Care Management Solutions Market.
 
Market Dynamics

Driver: Implementation of initiatives to shift the burden of risk from healthcare payers to providers

Globally, various initiatives are being implemented to shift the burden of risk borne by healthcare payers to providers. This shift promotes the adoption of healthcare information technology (HCIT) solutions (such as care management solutions) to increase the efficiency of healthcare delivered and reduce unnecessary costs. For instance, in 2015, Medicare applied the Value-based Payment Modifier program to payments under the Medicare Physician Fee Schedule (PFS) for physicians in groups of 100 or more eligible practitioners.

Revenue Growth Dynamics:

The global care management solutions market is projected to reach USD 19.28 billion by 2023 from USD 9.15 billion in 2018, at a CAGR of 16.1% during the forecast period.

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Global Leaders:

The care management market is rapidly emerging with many regional as well as international players. In 2017, the care management solutions market was dominated by a few large players, namely, EXL Service Holdings, Inc. (US), Casenet, LLC (US), Medecision Inc. (US), ZeOmega Inc. (US), Cognizant Technology Solutions (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), and TCS Healthcare Technologies (US).

Product deployments and launches, acquisitions, partnerships, agreements, and collaborations were strategies adopted by key players between 2015 and 2018 to enhance their share in the care management market. Important players that adopted these strategies include EXL Service Holdings, Inc. (US), Casenet, LLC (US), Medecision Inc. (US), ZeOmega Inc. (US), Cognizant Technology Solutions (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), and TCS Healthcare Technologies (US).

EXL Service Holdings, Inc. is one of the major players in the global care management solutions market. EXL also offers qualitative software tools by adopting advanced technologies. The company focuses on product deployments and partnerships to expand its business operations. In line with this strategy, from 2015-2018, EXL deployed its CareRadius suite of solutions in key organizations in the healthcare domain, such as Health Alliance Plan (HAP) (US), EmblemHealth Inc. (US), and Anthem, Inc. (US) to enhance its capabilities and competency in the care management market.

Zeomega is another key player in the global care management solutions market. The company provides the integrated Jiva medical management platform to enable payers and care-delivery organizations to improve health outcomes and performance. Zeomega focuses on partnerships and product deployments to enhance its market presence.

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North America to dominate the market in 2018

North America is expected to account for the largest share of the care management solutions market in 2018, followed by Europe. The large share of North America can be attributed to the increased adoption of care management solutions by healthcare providers and payers to meet the healthcare goals of better quality care and lower healthcare costs. Also, several major global players are based in the US, owing to which the US has become a center for innovation in the care management solutions market.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags care management procedure , care management procedure market
Last Updated October 22, 2020