Healthcare Provider Network Management Market Outlook 2031
The global healthcare provider network management market size was USD 3.31 Billion in 2022 and is likely to reach USD 8.3 Billion by 2031, expanding at a CAGR of 11.3% during 2023–2031. The market is driven by the increasing healthcare expenditure and implementation of stringent regulations across the globe.
Growing focus on patient-centric care models is anticipated to boost the market during the projection period. The healthcare industry is realizing the importance of efficient provider networks, leading to its high adoption. The expansion of telehealth services requires efficient provider network management to ensure seamless integration of virtual care into the existing healthcare system. Consequently, the surge in adoption of telehealth services is likely to fuel the market in the coming years.
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According to the latest national health survey conducted by the United States Department of Health and Human Services, the use of telehealth services has remained consistently above 20% from 2021 to 2022. On average, around 22% of adults have been found to use telehealth services, with the usage rate ranging between 20.5% and 24.2%.
The advanced network management solutions aid in the effective analysis and handling of large amounts of healthcare data, providing meaningful insights from these datasets. There is a growing awareness of effective cybersecurity measures in healthcare. This is prompting investments in secure network management solutions to protect sensitive patient data and maintain the integrity of healthcare networks.
The COVID-19 pandemic boosted the market, due to the sudden increase in the requirement for effective healthcare provider network management. The need for effective management grew significantly, due to the sudden rise in the number of patients visiting the hospitals and challenges such as equipment shortages. Consequently, this led to the rise in the demand for healthcare provider network management, thereby fueling the market.
Impact of Artificial Intelligence (AI) in Healthcare Provider Network Management Market
The use of artificial intelligence is likely to provide substantial propulsion to the healthcare provider network management market. The use of AI enhances operational efficiency by automating tasks such as resource allocation, appointment scheduling, and data analysis.
This reduces the administrative burden and optimizes network performance. The incorporation of machine learning analytics helps in improving the decision-making for healthcare providers. These factors are likely to boost the market in the coming years, thereby making AI a necessary part of the market evolution.
Healthcare Provider Network Management Market Dynamics
Major Drivers
Increasing awareness for quality care is expected to drive the market during the projection period. There has been a rise in patient flow to hospitals, clinics, and ambulatory care centers in recent years. This has led to the improvement of healthcare services, minimizing the margin for errors and incorporating of latest technology into the system.
This increasing awareness has strengthened the demand for effective healthcare management systems to ensure seamless functioning, even under pressure. These factors are estimated to propel the market during the projection period.
Existing Restraints
Lack of skilled technicians is likely to hamper the market during the forecast period. There is a requirement for a well-trained and efficient workforce to handle the complexities of network management and massive deployment.
Substantial capital investment is required for training the employees. While several developed nations are well-equipped for this, majority of the developing nations across the globe fall short of a trained workforce. This is likely to restrain the adoption of such management services, thereby impeding the market during the assessment period.
Emerging Opportunities
Advancements in clinical data analytics are anticipated to provide substantial growth opportunities for the market. Healthcare providers use advanced analytics tools to enhance operational efficiency and analyze vast data to optimize performance.
This helps in curbing the possibility of errors. Therefore, it leads to improved allocation of resources and patient care. Consequently, the improvements in data analytics are likely to provide enhanced results for healthcare provider network management, thereby creating lucrative prospects for the market.
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As per the article published by the National Institute of Health in January 2022, Big Data Analytics in the healthcare sector aid in formulating personalized medicines by detecting optimal treatments specific to patients. This improves living standards, increase healthcare cost savings, and reduce the waste of healthcare resources.
Scope of the Healthcare Provider Network Management Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Healthcare Provider Network Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Component (Software and Services), Delivery Mode (On-premise and Cloud-based), End-user (Private Health Insurance, Payer, and Public Health Insurance)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Atos SE; Change Healthcare; Cognizant; Evolent; Genpact; Infosys Limited; MCKESSON CORPORATION; Mphasis; Optum, Inc.; and SKYGEN.
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Healthcare Provider Network Management Market Segment Insights
Component Segment Analysis
Based on component, the healthcare provider network management market is divided into software and services. The services segment is projected to hold the major share of the market during the projection period, owing to the various benefits that services offer, such as enhanced operational efficiencies, reduced expenses in healthcare systems, and improved provider relationships. Furthermore, advancements in claims auto adjudication rates have further contributed to the growth of this segment.
Delivery Mode Segment Analysis
On the basis of delivery mode, the global market is segregated into on-premise and cloud-based. The cloud-based segment is projected to register a high CAGR during the forecast period, due to several factors such as lower operational costs & capital expenses, improved scalability, and affordability.
The cloud-based solutions have proven to be highly effective in managing healthcare networks, making them a preferred choice for healthcare providers. The increasing adoption of cloud technology across the healthcare industry is expected to further drive the growth of this segment in the coming years.
End-user Segment Analysis
On the basis of end-user, the healthcare provider network management market is segmented into private health insurance, payer, and public health insurance. The payer segment is anticipated to register a robust growth rate during the forecast period.
Payers increasingly rely on advanced technologies such as AI and data analytics to streamline operations and improve cost efficiency. This ensures efficient claim processing, reduced administrative overhead, and enhanced accuracy of provider directories. The segment is expected to have significant propulsion in the coming years, due to the expansion of the healthcare industry in the developed and developing regions across the globe.
Regional Outlook
In terms of region, the global healthcare provider network management market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America is expected to dominate the market during the projection period, owing to the strong healthcare analytics system and an excellent medical infrastructure.
Countries such as the US in this region are quick to adopt innovative technologies and the latest operational systems. Furthermore, the presence of several leading market players is anticipated to boost the market in this region during the forecast period.
The market in Europe is likely to witness considerable growth during the projection period, due to increasing healthcare awareness and the availability of improved resources. Countries such as Germany and the UK have excellent healthcare IT solutions and advanced technological infrastructure. This is projected to create profitable projections for the market in the coming years.
Segments
The healthcare provider network management market has been segmented on the basis of
Component
Delivery Mode
End-user
- Private Health Insurance
- Payer
- Public Health Insurance
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Atos SE
- Change Healthcare
- Cognizant
- Evolent
- Genpact
- Infosys Limited
- MCKESSON CORPORATION
- Mphasis
- Optum, Inc.
- SKYGEN
Competitive Landscape
Key players competing in the global healthcare provider network management market are Atos SE; Change Healthcare; Cognizant; Evolent; Genpact; Infosys Limited; MCKESSON CORPORATION; Mphasis; Optum, Inc.; and SKYGEN.
These companies incorporate development strategies including acquisitions, mergers, partnerships, product launches, collaboration, and production expansion to expand their consumer base globally. For instance,
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In January 2023, Great Speech disclosed a strategic partnership with Health Network One. The partnership aims to expand specialized speech therapy services to more than five million members across the nation. This collaboration is expected to improve the payer specialty network management solutions in the country.
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