The population health management (PHM) solutions market in the U.S. estimates industry expansion at an impressive CAGR of 14.8% from 2021 to 2028.
The U.S. population health management solutions market stood at US$ 11.2 Bn in 2020, and is predicted to surge and reach a valuation of US$ 34.59 Bn by the end of 2028. Health management services are projected to account for a dominant market share of more than 50% over the coming years.
PHM programs have proven their efficiency in the U.S. for the effective management of patient data and improved quality of healthcare; hence, demand for population health management solutions in the country is anticipated to remain high over the coming years.
What in the US is Driving Demand for PHM Programs?
Population health management (PHM) programs have been gaining popularity in the United States in recent years. These programs focus on improving the overall health of a population, rather than just treating individual patients. There are several factors driving the demand for PHM programs in the US.
One key driver is the rising cost of healthcare. The US spends more on healthcare per capita than any other country in the world, yet outcomes are often worse than in other developed nations. PHM programs can help to reduce costs by keeping people healthier and preventing expensive hospitalizations and treatments.
Another factor driving demand for PHM programs is the shift towards value-based care. Rather than paying healthcare providers for each service they provide, value-based care models focus on paying for outcomes. PHM programs are well suited to this model, as they are designed to improve outcomes for entire populations.
The increasing focus on population health and wellness is also driving demand for PHM programs. With rising rates of chronic diseases such as diabetes and heart disease, there is a growing need for programs that can help people stay healthy and manage their conditions. PHM programs can provide the education, resources, and support that people need to stay healthy and avoid complications.
Finally, advances in technology are making PHM programs more effective and easier to implement. From wearable devices that track activity levels and vital signs to electronic health records that provide a comprehensive view of a patient’s health, technology is playing a key role in the development of PHM programs.
In conclusion, there are several factors driving the demand for PHM programs in the United States, including rising healthcare costs, the shift towards value-based care, the focus on population health and wellness, and advances in technology. As these programs continue to evolve and improve, they have the potential to transform healthcare delivery and improve outcomes for millions of people.
Key Companies Profiled
- Conifer Health Solutions
- Health Catalyst
- Healthagen LLC
- International Business Machines (IBM) Corporation
- NextGen Healthcare Information Systems LLC
- Optum Health Inc.
- Premier Inc.