Healthcare Claims Management Solutions Market was valued at USD 4323.33 mn in 2018, and is expected to generate revenue of around USD 6147.24 million by 2025

NEW YORK, NEW YORK, UNITED STATES, March 2, 2020 /EINPresswire.com/ -- Zion Market Research has published a new report titled “Healthcare Claims Management Solutions Market by Component (software and services), Type (integrated solutions and standalone solutions), Delivery mode (on-premise and cloud-based) & end-user (Healthcare Payers, Healthcare Providers and Other End Users): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for Healthcare Claims Management Solutions market was valued at approximately USD 4323.33 million in 2018, and is expected to generate revenue of around USD 6147.24 million by end of 2025, growing at a CAGR of around 5.22% between 2019 and 2025.

Healthcare claims management software is used to track all medical claims and compensation processes, allowing healthcare providers to increase their revenue by successful claim management. In general, health claims management refers to a cooperative agreement between health care providers, patients, insurance providers and the billing department. The health claims management industry is expanding rapidly in recent years due to the rapid growth rate of the health insurance sector.

Demand for healthcare claims management solutions is driven by increasing aging population, increased incidence of chronic diseases, increased awareness of care delivery, ambitious government initiatives to extend insurance coverage to people, and increased use of cloud-based services. Increasing patient data security & security concerns, however, and rising cybercrime cases are expected to hamper market growth. In the near future, the Asia-Pacific region is expected to offer lucrative opportunities for providers of healthcare claims management solution. India and China are the Asia-Pacific region's two fast-growing economies, led by South Korea.

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The government has made many attempts in these countries to provide better healthcare facilities and improve the infrastructure for healthcare. Healthcare IT systems bridge the gap between healthcare organizations by reducing human errors and reducing healthcare spending. Yet India's healthcare IT sector is in its infancy. Due to the increasing prevalence of chronic diseases, improved healthcare facilities, and growing demand for better healthcare services, the demand for healthcare IT solutions in the area is expected to increase during the forecast period. In order to improve healthcare IT infrastructure in emerging markets, heavy investment inflows from various government agencies are expected to create opportunities for providers of healthcare claims management solutions.

The market for Healthcare Claims Management Solutions is segmented based on component, type, delivery mode, end-user, and region. Based on component, the market is divided into software and services. Due to technological developments in the field of technology and increased use of data for accurate and faster processing of claims, the software segment accounted for the largest share of the global market. Based on the type, the Healthcare Claims Management Solutions is bifurcated into integrated solutions and standalone solutions. Based on delivery mode, the Healthcare Claims Management Solutions market is classified into on-premise and cloud-based. Based on End-user, the healthcare claims management solutions market is bifurcated into healthcare payers, healthcare providers and other end users.

Regional segmentation comprises the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further classification into major countries. Due to the increased use of software and hardware for handling claims and the presence of major insurance companies in these countries, the North American and European markets have a large share of the global market. Throughout 2018, North America accounted for a major market share, and this lead is expected to remain throughout the forecast period. Growth is due to the presence in the region of well-established healthcare systems, increased insurance coverage, increased prevalence of chronic diseases, and advances in technology in the field. Nevertheless, the Asia-Pacific region is projected to grow at considerable high CAGR between 2019 and 2025, due to an increase in the geriatric population and an improvement in healthcare infrastructures. However, proactive government initiatives to raise awareness among the masses of the advantages of this technology have supported the development of the industry.

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Some of the players included in Healthcare Claims Management Solutions market are Accenture plc., Allscripts Healthcare Solutions, Inc., Athenahealth Inc., Avaya Inc., CareCloud Corporation, Cerner Corporation, Cognizant Technology Solutions Corporation, eClinicalWorks LLC, GE Healthcare, Genpact Limited., IBM Corporation, Infor Inc., McKesson Corporation, Oracle Corporation, Quest Diagnostics, Siemens Healthcare and The SSI Groups Inc. amongst others.

The report segments the Healthcare Claims Management Solutions market as follows:

Global Healthcare Claims Management Solutions Market: Component Segment Analysis

Software
Services

Global Healthcare Claims Management Solutions Market: Type Segment Analysis

Integrated Solutions
Standalone Solutions

Global Healthcare Claims Management Solutions Market: Delivery Mode Segment Analysis

On-premise
Cloud-based

Global Healthcare Claims Management Solutions Market: End-user Segment Analysis

Healthcare Payers
Healthcare Providers
Other End Users

Global Healthcare Claims Management Solutions Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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