About Value-Based Healthcare Services
Value-based health care is a model in which the providers such as the hospitals are paid on the patient’s health result, quantity, efficiency, and the patient's experience. These all factors are considered while paying the hospitals for the services provided. Intense competition among the service providers and the increase in the pressure to lower the cost and to improve the service has directed from volume-based health care to value-based health care. The value-based services benefit all the individuals involved in the change like the patients, service providers, payers for the service, the suppliers, and the society. The main focus of the value-based service is to provide the patients the best service so that it results in quick recovery and to avoid chronic diseases to achieve better health at lower costs. The providers achieve high patient satisfaction with heathier care services. The payers also achieve cost control and they reduce the risk by spreading it among a large number of patients. The value-based health care service helps to reduce the overall healthcare expenditure of the families and achieve a benefit in the end. The various models present in the value-based health care service are Bundled Payment, Capitation Models, Pay for Performance, Patient-Centred Medical Home, Shared Risk, and Shared Savings. In pay for performance model, providers are paid by payers for meeting pre-measured performance at the beginning. Accountable care organizations (ACOs) are groups of health care providers, such as hospitals and specialized clinics, who work as a team to give coordinated high-quality care to Medicare patients, and each member shares risk and rewards. ACOs focus on data sharing among team members in order to achieve the quality of care and positive health result with reduced costs. Bundled payments are single payments for all services for a specific treatment or condition such as spine surgery and cardiac procedures. In a patient-centered medical home, patients have a provider and a team, providing continuous, accessible health care in order to achieve the best results.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Value-Based Healthcare Services 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.
Deloitte (United States), NextStep Solutions (United States), Athenahealth (United States), Genpact (United States), McKesson Corporation (United States), NXGN Management, LLC (United States), Baker Tilly, US, LLC (United States), Siemens Healthcare GmbH (Germany), Boston Consulting Group (United States) and NextGen Healthcare (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 Change Healthcare (United States).
Segmentation Overview
AMA Research has segmented the market of Global Value-Based Healthcare Services market by Type (Bundled Payment, Capitation Models, Pay for Performance, Patient-Centred Medical Home, Shared Risk and Shared Savings), Application (Providers [Hospitals, Clinics] and Payers [Insurance Companies, Government, Others]) and Region.
On the basis of geography, the market of Value-Based Healthcare Services 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 Deployment Type, the sub-segment i.e. Cloud-Based will boost the Value-Based Healthcare Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
An Upsurge in High-Quality Care from Healthcare Service Providers, Growing Need for High-Quality Care Services and Rapid Development in Value-Based Health Care Services
Market Growth Drivers:
The Advent of Digital Technology, Due to Digitization over Time, Healthcare Policies and Ways of Delivering Medical Care Have Changed a Lot, A Rise in Disposable Income, Rapid Expansion in Value-Based Healthcare Services and Rising Incidence of Chronic Diseases
Challenges:
Challenges of Interoperability and Reliable Data in Value-Based Healthcare Services
Restraints:
High Costs of Services
Opportunities:
Introduction of Favourable Value-Based Healthcare Reimbursement Policies and Government Reforms for the Real-World Evolution of Devices and Treatment
Market Leaders and their expansionary development strategies
In October 2022, Sound Physicians, a national healthcare organization providing services across the acute episode of care, and Quality Medical Consultants, a leading hospital-based physician network in Florida, launched a value-based care partnership. Together, the two organizations will collaborate to improve patient outcomes and lower the cost of care in communities across Southeast Florida, U.S.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Value-Based Healthcare Services, Venture Capitalists and Private Equity Firms and End-Use Industry
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.