U.S. Healthcare Payer Analytics Market Size, Share & Trends Analysis Report By Analytics Type, By Component Type, By Delivery Model, By Application, And Segment Forecasts, 2020 - 2027
U.S. Healthcare Payer Analytics Market Growth & Trends
The U.S. healthcare payer analytics market size is expected to reach USD 13.3 billion by 2027. The market is expected to expand at a CAGR of 24.1% from 2020 to 2027. The rising digitization of healthcare data is one of the key factors supporting market growth. In addition, the increasing shift from volume-based to value-based care is driving the market in the country. According to a report titled “2019 Payer Analytics Market Trends Report” published by IBM, payers have started adopting analytics technology for supporting the shift from Fee-for-Service (FFS) models to Value-based Care (VBC) models.
Based on analytics type, the descriptive segment accounted for the highest revenue share in 2019 owing to its increasing adoption in gaining actionable insights by analyzing historical data. On the other hand, the predictive segment is expected to exhibit the fastest growth during the forecast period owing to the benefit offered by this segment in enabling healthcare decision-makers to optimize healthcare delivery and reduce costs by recommending the best course of action for patients or providers.
In 2019, the services segment accounted for the highest revenue share owing to the ongoing trend of outsourcing due to the lack of resources and skill set required for the deployment of analytics.This segment is expected to be the fastest-growing segment during the forecast period.
In addition, increasing EHR adoption, the surge in the adoption of big data in healthcare, growing adoption of data-driven decision-making, increasing pressure to curb healthcare spending & improve patient outcomes, and an increasing number of patient registries is further bolstering the segment growth.
Based on the delivery model, the on-premises segment accounted for the largest revenue share in 2019 owing to the ease of customization and the level of security and control offered by this delivery model. On the other hand, the cloud-based segment is anticipated to be the fastest-growing segment during the forecast period owing to extreme capacity flexibility, safe storage, and the pay-as-you-go pricing offered by this model.
In 2019, the financial application segment accounted for the highest revenue share owing to various initiatives, such as FPS that aids in saving costs and helps in avoiding fraud.This segment is expected to be the fastest-growing segment during the forecast period.
Moreover, the increasing adoption of healthcare analytics to reduce healthcare spending coupled with increasing access to clinical data is further driving the market in the country.
U.S. Healthcare Payer Analytics Market Report Highlights • The descriptive segment dominated the market in 2019 owing to its benefits in gaining actionable insights
• The services component type segment dominated the market in 2019 owing to the increasing adoption of outsourcing various services due to a lack of skilled professionals
• The on-premises delivery model segment dominated the market in 2019 owing to enhanced security and control offered by the delivery model
• The financial services segment dominated the market and accounted for the largest revenue share in 2019
Our reports have been used by over 10K customers, including:
175 pages •
By The Business Research Company
• May 2021
Major players in the value based care payment market are Siemens Healthcare GmbH, Nextstep Solutions, Athena Health, NXGN Management, LLC., and McKesson Corporation. The global value based care payment market is expected to grow from $1.52 billion in 2020 to $2.273 billion in 2021 at a compound annual growth rate (CAGR) of 49.5%. The...
175 pages •
By The Business Research Company
• May 2021
Major players in the urology medical lasers market are Olympus Corporation, Ethicon Inc., Stryker Corporation, Boston Scientific Corporation, Richard Wolf GmbH, Cook Medical Incorporated, Karl Storz SE & Co. KG, Lumenis Ltd., Becton Dickinson and Company, and OmniGuide Holdings Inc. The global urology medical lasers market is expected...
The medical second opinion market was valued at US$ 3,204.57 million in 2019 and is projected to reach US$ 10,739.48 million by 2027; it is expected to grow at a CAGR of 16.32% during 2020-2028. The growth of the medical second opinion market is mainly attributed to the increasing prevalence of chronic diseases, growing emphasis on superior...
The growing preference for minimally-invasive surgeries, increasing adoption of endoscopes for treatment and diagnosis, and technological advancements leading to enhanced applications are the major factors leading to the growth of the market studied. However, the lack of skilled technicians and infections caused by few endoscopes is hindering...
Increase in prevalence of heart diseases worldwide is the primary factor driving the electrocardiograph (ECG) market globally. According to the WHO, cardiovascular disease is one of the leading cause of death worldwide. It is estimated that cardiovascular diseases (CVDs) take the lives of 17.9 million people every year, 31% of all global deaths....
The global medical billing outsourcing market exhibited strong growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of around 11% during 2021-2026. Medical billing outsourcing, or revenue cycle management (RCM), refers to the process of outsourcing billing and finance-related processes...
The global refurbished medical equipment market reached a value of US$ 10.8 Billion in 2020. Looking forward, the analyst expects the market to grow at a CAGR of 12.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on...
The global infrared imaging market exhibited strong growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of around 8% during the forecast period (2021-2026). Infrared (IR) imaging refers to the technology that is used for capturing invisible IR radiation and converting it into visible...
This IDC Perspective aims to bring out the best practices being followed in the insurance sector in leveraging the emerging technologies to mitigate the pain points. The health insurance industry is undergoing a digital transformation around the world, signaling a new age of patient experience. Payer and provider integration plays a vital...
Health Care Provider
Health Insurance Claims
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.