The Healthcare
Quality Management Market Insights and Analysis by
Software Type (Business Intelligence and Analytics Solutions, Physician Quality
Reporting Solutions, Clinical Risk Management Solutions, Provider Performance
Improvement Solutions and others), Mode of Deployment (Web/Cloud-Based,
On-Premise), Application (Data Management, Risk Management), End-User
(Hospitals, Ambulatory Care Centers, Payers and others) - Forecast till 2027
Market Research Future (MRFR) hypothesizes
that the global healthcare quality management market is predicted to garner
1.63 billion, grabbing a CAGR of 13.20% during the forecast period (2020–2027).
The increase of unstructured data in recent years is presumed to favor the market growth. Healthcare quality
management solutions are generally designed
in order to improve the effectiveness of
the treatment coupled with the growing satisfaction of the patients with the
services. It is an essential aspect of
patients and healthcare organizations. One of the primary reasons to implement
high management quality control in the healthcare industry is to ensure that
proper facilities and care are provided
to the patients.
Market Potential
and Pitfalls
With augmenting government regulations for
reporting the quality and also improving the performance of the services and
products, and increasing unstructured data in the recent days, the global healthcare quality management market trends is considered to foster during
the assessment period. High adoption of cloud-based
technology and its related services, increasing implementation of HL7 Clinical
Document Architecture Release 2 guidelines for improving the quality
measurement in organizations is predicted to spur the healthcare quality
management market. Major market giants are involved in strategic partnerships in order to strengthen their position in the
market, thereby propelling the market growth over the appraisal period. For
instance, Change Healthcare had introduced the Dx
Gap Advisor in December 2018. This particular innovative solution can recognize
undocumented diagnosis codes automatically in
order to address the identified risk adjustment gaps. Moreover,
increasing the patient-centric approach
from healthcare providers, doctors, and hospitals are expected to enhance the
adoption of such solutions.
On the contrary, the high cost of the quality reporting systems,
lack of skilled IT professionals in the healthcare sector, an accelerating concern associated with customer
data safety, and loss of confidentiality and data breaches are some of the top
barriers considered to vitiate the market growth in the coming years.
Global Healthcare
Quality Management Market: Segmental Analysis
The global healthcare quality management
market has been segmented on the basis of delivery mode, type,
application, and end user.
By mode of type, the global healthcare
quality management market trends has been
segmented into physician quality reporting solutions, business
intelligence and analytics solutions, provider performance improvement
solutions, and clinical risk management solutions.
By mode of delivery mode, the global
healthcare quality management market has been
segmented into on-premise solutions and web/cloud-based solutions.
By mode of application, the global
healthcare quality management market has been
segmented into risk management and data management.
By mode of end-user, the global healthcare
quality management market has been segmented
into ambulatory care centers, hospitals, accountable care organizations (ACOs),
payers, and others. Among these, the hospital segment is likely to dominate the
segment and is likely to gain prominence throughout the assessment period.
Regional Insights
Geographically, the global healthcare
quality management market trends spans across regions namely, Europe, America,
Asia-Pacific, and the Middle East & Africa.
Among all the regions,
American is considered to dominate the global healthcare quality management market. The
growth is credited to the presence of regulatory mandates, accelerating
healthcare information technology (HCIT) investments, and the presence of regulatory mandates. Such factors
are favoring the integration of healthcare quality management solutions in this
region.
European is predicted to occupy
the second largest
position globally. The market in this region is likely to expand owing to the
presence of a well-established healthcare system coupled with the accelerating
insurance coverage.
The Asia-Pacific region is predicted to
expand at the fastest growth rate owing to the improved healthcare
infrastructure coupled with the rising government initiatives in order to improve patient outcomes.
Meanwhile, the Middle East & Africa
exhibits the least market share. This is
due to the less technological advancements in the area of healthcare IT.
Industry Updates
In July 2018, the Cerner and Lumeris
developed a partnership in order to
launch offerings to minimize complexities for the health systems delivering
value-based care.
Competitive Dashboard
The prominent players operating the global
healthcare quality management market are Verscend Technologies Inc., Citiustech
Inc., Medisolv Inc., Truven Health Analytics, Altegra Health Inc., Enli Health
Intelligence, Premier Inc., Mckesson Corporation, Dolbey Systems Inc., Quantros
Inc., Cerner Corporation, and Nuance Communications Inc.
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