(EMAILWIRE.COM, December 28, 2018 ) 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.
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Patient access solutions market is expected to reach USD 1.74 Billion by 2023 from an estimated USD 1.14 Billion in 2018, at a CAGR of 7.6%. Regulatory compliance encouraging use of patient access solutions, increasing patient volume & subsequent growth in demand for health insurance, growing importance of denials management, declining reimbursement rates, & need to curtail escalating healthcare costs are major factors driving growth of patient access solutions market.
Target Audience Covered for Patient Access Solutions Market are Healthcare service providers, Healthcare service payers/insurance companies, Patient access solutions software and service providers, Healthcare IT outsourcing companies, Clearing houses, Venture capitalists, Government bodies and Business research and consulting firms.
Patient access solutions include software and services that help healthcare organizations to maintain their financial balance by reducing operational costs and minimizing claims rejection. These solutions are used to verify a patients insurance coverage eligibility, enable efficient claims processing, and manage medical necessity & denials.
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Prominent players in patient access solutions market are McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian plc (Ireland), Optum, Inc. (US), Conifer (US), The Advisory Board Company (US), The 3M Company (US), Craneware, Inc. (UK), The SSI Group, LLC (US), ZirMed, Inc. (US), Cirius Group, Inc. (US), and AccuReg Software (US).
In addition, patient access solutions market help to reduce documentation errors related to medical necessity denials & streamlines front-end staff workflow with automated tracking & authorization which in turn is expected to boost adoption of patient access solutions among healthcare providers. However, factors like high deployment costs of these solutions and lack of adequate clinicians with advanced IT skills may hinder adoption of these solutions among healthcare providers.
Premium Insights included are Patient Access Solutions: Market Overview, Patient Access Solutions Market, By End Users & Region, Healthcare Access Management Solutions Market: Geographic Snapshot, Healthcare Access Management Solutions Market: North America Snapshot and Global Healthcare Access Management Solutions Market for Software.
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Asia Pacific market is comparatively new to patient access solutions; however, this region is expected to register the highest growth in the coming years. Countries such as Japan, Australia, New Zealand, South Korea, and Singapore are expected to provide significant growth opportunities for patient access solutions vendors.
Objectives of the Study
To define, describe, segment and forecast the global patient access solutions market on the basis of product & service, delivery mode, end user, and region
To forecast the size of the patient access solutions market with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
To provide detailed information regarding the major factors influencing the growth of the global patient access solutions market (drivers, restraints, opportunities, and industry-specific challenges)
To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
To analyze the opportunities in the market for stakeholders and provide details of the competitive leadership mapping for market leaders
To profile key players in the global patient access solutions market and comprehensively analyze their core competencies and market shares
To track and analyze competitive developments such as acquisitions; product launches; collaborations, partnerships, and agreements; and expansions in the market
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