In general terms, population health management (PHM), can be defined as the discipline of managing the financial and clinical risk of a defined group of individuals. In a clinical setting, PHM usually refers to the health of patients belonging to a particular health plan or a particular healthcare provider. In case of public health agencies, PHM can refer to the health of all the inhabitants in the area of their jurisdiction.
What Does The New Study Say About Population Health Management Market?
The global Population Health Management Market is largely driven by factors such as technological advancements in the healthcare IT sector, favorable government initiatives for adoption of IT enabled systems in healthcare industry, rising need for improving quality of healthcare and increasing demand to reduce the cost of healthcare.
With the implementation of legislations such as the affordable Care Act (ACA) in the U.S., there has been significant increase in the adoption of HCIT solutions by the healthcare fraternity. All these factors are expected to favorably contribute to the growth of the global population health management market during the forecast period. However, factors such as dearth of trained and skilled professionals as well as concerns related to the security of data stored and transferred through such systems, can hinder the market growth during the forecast period.
The key players operating in the global patient health management market focus on product development and strategic acquisitions in order to strengthen their product portfolio and expand their presence in the global market. For instance, in June 2017, Siemens Healthineers (the healthcare division of Siemens AG), completed the acquisition of San Francisco based Medicalis Corporation in order to strengthen its portfolio of population health management solutions. With the incorporation of solutions from Medicalis Corporation in its portfolio, Siemens intended to assist healthcare providers to effectively meet the challenges in bridging the gap between population health systems at department level and at the health system level.
Similarly in August 2016, NextGen Healthcare Information Systems, LLC, a subsidiary of Quality Systems, Inc., completed the acquisition of EagleDream Health Inc., a big data, cloud-based healthcare analytics, software and Services Company based in Rochester, NY. The acquisition was intended towards achieving NextGen’s goal of becoming a complete value-based care solution platform.
Crystal Market Research published a report on “POPULATION HEALTH MANAGEMENT MARKET BY COMPONENT, DELIVERY MODE AND END USER – GLOBAL INDUSTRY ANALYSIS AND FORECAST TO 2022” released and accessible at https://www.crystalmarketresearch.com/report/population-health-management-market