Dublin, Oct. 07, 2022 (GLOBE NEWSWIRE) -- The "Patient Access /Front-end RCM Solutions Market by Product & Service (Training, Education, Medical Necessity, Pre-certification), Delivery Mode (Web & Cloud, On premise), End User (Providers, Healthcare BPO Service Providers) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global patient access solutions market is projected to reach USD 2.9 billion by 2027 from an estimated USD 1.9 billion in 2022, at a CAGR of 8.9%

Growth in this market is driven by the growing government initiatives to support the HCIT solutions, increasing patient pool, increasing demand for health insurance, and the growing need to curtail healthcare costs. However, lack of skilled IT professionals & high deployment costs are expected to restrain the growth of this market to a certain extent.

The web & cloud- based solutions segment is projected to be the largest segment & register the highest growth in the patient access solutions market, by application

Based on application, the data aggregation segment is projected to be the largest segment & register the highest growth during the forecast period. Factors responsible for the growth of this segment are the advantages offered by the solutions such as on-demand self-serving analytics, no upfront capital investment for hardware, extreme capacity flexibility, and the pay-as-you-go pricing model.

Healthcare Providers was the largest segment by the end user of patient access solutions market in 2021

Healthcare providers segment is projected to grow at the highest growth rate in the patient access solutions market in 2021. The increasing demand for standardizing patient data, large amounts of healthcare data generated, increasing focus on patient safety, significant growth in healthcare spending, rising medical error rates, growing denials, increasing healthcare costs is expected to drive the demand for patient access solutions services in the coming years.

APAC to witness the highest growth rate during the forecast period.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by factors such as the improving healthcare infrastructure, rising healthcare insurance coverage, and growing medical tourism.

Key players in the Patient access solutions Market

The key players operating in the patient access solutions market include Cognizant (US), McKesson Corporation (US), Cerner Corporation (US), Experian Plc (Ireland), 3M (US), Conifer Health Solutions (US), Waystar (US), Epic Systems Corporation (US), The SSI Group, LLC (US), Optum, Inc. (US), Cirius Group, Inc. (US), Craneware, Inc. (Scotland), Allscripts Healthcare Solutions, Inc. (US), Genentech, Inc. (US).

Premium Insights

• Growing Importance of Denials Management to Drive Market
• Web & Cloud-Based Solutions Segment to Dominate Market in 2021
• UK to Register Highest Growth in Market During Forecast Period
• North America to Dominate Market During Forecast Period

Market Dynamics

Drivers

• Stringent Government Regulations for Accessing Patient Data
• Increasing Patient Volume and Subsequent Growth in Demand for Health Insurance
• Growing Importance of Denials Management
• Declining Reimbursement Rates
• Rising Need to Curtail Healthcare Costs

Restraints

• Data Breaches and Loss of Confidentiality

Opportunities

• High Growth Potential in Emerging Healthcare It Markets

Challenges

• Dearth of Skilled Healthcare It Professionals
• Reluctance to Adopt Patient Access Solutions
• High Deployment Costs

Industry Insights

• Estimated Spending on Regulatory Compliance by Healthcare Providers in US
• US: Current Scenario of Healthcare Claims Management
• Manual Vs. Electronic Claims Management Processes
• Lack of Standardization Between Payer Policies
• US: Adoption Trends for Patient Access Solutions
• Patient Access Solutions and Value-Based Care

Hcit Expenditure Analysis

• North America
• Europe
• Asia-Pacific
• US: Hcit Adoption Trends

Industry Trends

• Growing Focus on Integration Platform as a Service (Ipaas)
• Budgetary Constraints and Cost-Cutting Measures in Europe

Company Profiles

Key Players

• McKesson Corporation
• Optum, Inc.
• Cognizant
• Cerner Corporation
• Experian plc
• 3M
• Conifer Health Solutions
• Craneware, Inc.
• Genentech, Inc. (Roche)
• Allscripts Healthcare Solutions, Inc.
• Epic Systems Corporation
• Waystar
• The SSI Group, LLC
• Cirius Group, Inc.
• Accureg Software

Other Players

• Patient Access Solutions, Inc.
• Kyruus
• Exela Technologies, Inc.
• Access One, Inc.
• Vee Technologies
• Conduent, Inc.
• Finthrive
• Plexis Healthcare Systems
• Healthasyst
• Virtusa Corporation

For more information about this report visit https://www.researchandmarkets.com/r/2heupb

Attachment

• Global Patient Access-Front-end RCM Solutions Market