October 3, 2024
Accountable Care Solutions Market
Ict

Accountable Care Solutions Market is set to see Steady Growth driven by Telehealth Adoption

The accountable care solutions market has witnessed significant growth in recent years due to the increasing need for improved healthcare delivery and cost reduction. Accountable care solutions help deliver higher quality care while optimizing costs by enabling improved care coordination, population health management, payment reform, and accountability of outcomes. The platforms facilitate enhanced data integration, predictive analytics, and remote patient monitoring to drive better performance across cost, quality, and patient satisfaction measures. They support healthcare providers transitioning to value-based reimbursement models by assuming financial risk for a defined patient population.

The Global Accountable Care Solutions Market is estimated to be valued at US$ 42.54 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Accountable Care Solutions Market are Cerner Corporation, IBM Corporation, UnitedHealth Group, Aetna, Inc., Allscripts Healthcare Solutions, Inc., Epic Systems Corporation, McKesson Corporation, Verisk Health, ZeOmega, Inc., eClinicalWorks, Inc., NextGen Healthcare, Athenahealth Inc., Constellation Software Inc., Optum, Inc, COTIVITI, INC, Verisk Analytics, Inc. The growing need to curtail escalating healthcare costs and provide coordinated care is fueling demand for accountable care solutions globally. Several players are focusing on partnerships and strategic acquisitions to expand their accountable care offerings and gain a competitive advantage. Accountable care solutions vendors are also witnessing increased adoption across international markets as global healthcare expenditure rises and populations age.

Market key trends

One of the key trends gaining traction in the accountable care solutions market is the rising adoption of telehealth. Telehealth functionalities supported by accountable care platforms help address gaps in access and facilitate remote monitoring of chronic conditions. This helps improve health outcomes and patient satisfaction while reducing costs associated with unnecessary emergency department visits and hospital readmissions. Leading accountable care solution providers are enhancing their platforms with features such as televisits, remote patient monitoring, and AI-based triage to support telehealth expansion driven by the COVID-19 pandemic. Such innovations are expected to boost the accountable care solutions market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: Low costs of entry into healthcare IT industry and rising demand for accountable care services pose a moderate threat. However, established players have strong brand recognition and client relationships.
Bargaining power of buyers: Large healthcare organizations and payers have significant bargaining power due to purchasing of solutions in bulk. However, need for data interoperability limits alternatives.
Bargaining power of suppliers: Major EHR vendors and data analytics companies have strong influence due to proprietary platforms and data. However, open-source alternatives provide options.
Threat of new substitutes: Alternate care delivery models such as micro-hospitals pose minimal threat currently due to lack of scale and data integration capabilities.
Competitive rivalry: Intense competition due to increasing client expectations of coordination and quality. Players differentiate based on client relationships, offerings and data integration capabilities.

Geographical Regions

North America accounted for the largest share of the Accountable Care Solutions in terms of value in 2024 due to advanced healthcare infrastructure and growing prominence of value-based care models.
The Asia Pacific region is poised to grow at the fastest CAGR during the forecast period, driven by rising healthcare spending, expanding medical insurance coverage and increasing focus on population health management in countries such as China and India.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

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