About Health Insurance Management
Health Insurance Management Helps in Avoiding Delays in Processing, Turn-Around-Time, & Redundant Operational Costs. It is Efficient in the Management of Entire Claim Administrative Processes, Such as Adjudication, Pricing, Authorizations, & Analytics. It Provides Real-Time Claim Processing With No Wait Time for Batch Processes
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Market for the Health Insurance Management is Fragmented with the Presence of Many Players. Owing to Booming Insurance Industry there are Growing Prospects for the New Players to Enter the Market Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Health Insurance Management market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Plus Solutions Inc. (United States), Cerner Corporation (United States), McKesson Corporation (United States), Athena Health (United States), Conifer Health Solutions (United States), eClinicalWorks (United States), Optum, Inc, (United States), nThrive (United States), DST Systems (United States) and Allscripts Healthcare Solutions, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Context 4 Healthcare (United States), Health Solutions Plus (United States), Cognizant Technology Solutions (United States), GE Healthcare (United States), RAM Technologies (United States), PLEXIS Healthcare Systems (United States), GeBBS Healthcare Solutions (United States), Quest Diagnostics (United States) and The SSI Group (United States).
Segmentation Overview
AMA Research has segmented the market of Global Health Insurance Management market by Type (Integrated Solutions and Standalone Solutions), Application (Healthcare Payers, Healthcare Providers and Other) and Region.
On the basis of geography, the market of Health Insurance Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Delivery Mode, the sub-segment i.e. On-Premise will boost the Health Insurance Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the Health Insurance Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growth in the Health Insurance Claims
Market Growth Drivers:
The Rise in the Number of Patients Opting For Medical Insurance & Increase in Premium Costs and The Surge in the Geriatric Population With Chronic Diseases
Challenges:
Patient Data Safety & Security Concerns May Pose a Challenge and Unawareness About Health Insurance Management Technology
Restraints:
High Cost Linked With Health Insurance Management
Opportunities:
There is an Increased Opportunity for Market Expansion, Owing to Improvement in the Quality of Healthcare Facilities and There are Prospects for the Growth of Health Insurance Management, Due to Denial of Claims by Agents
Market Leaders and their expansionary development strategies
In April 2023, Google Cloud today announced a new AI-enabled Claims Acceleration Suite that streamlines health insurance prior authorization and claims processing. The solution, leveraging the newly created Claims Data Activator, will help health plans and providers reduce administrative burdens and costs by converting unstructured data into structured data, enabling experts to make faster, more informed decisions that improve patient care.
In January 2024, Zuno General Insurance, a cutting-edge digital insurer, launched its new Zuno HealthPlus Policy. This new health insurance plan is intended to give individuals and families with specialized coverage and benefits at an affordable rate. This inflation-adjusted product provides coverage for up to nine family members under a single policy, simplifying the management of several policies.
Key Target Audience
Healthcare insurance companies, Healthcare IT service providers, Healthcare BPO Vendors, Healthcare KPO Vendors, Government bodies, Corporate entities and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.