The growing need to increase the operational efficiency of healthcare organizations while decreasing operational costs, increasing need to maintain compliance with regulatory mandates, high returns on investment are the major factors driving the growth of this market.
Key Market Restraints:
# Reluctance to Switch From Conventional Methods
# IT Infrastructural Limitations in Developing Countries
Key Market Opportunities:
# Declining Reimbursements and Competitive Rivalry Among Healthcare Payers
Key Market Challenges:
# Security Concerns
# Dearth of Skilled IT Professionals
Download PDF Brochure@
-:Global Industry Segmentation:-
The market for contract lifecycle management software is projected to grow at the highest CAGR during the forecast period
On the basis of software, the market for contract lifecycle management software is projected to grow at the highest rate during the forecast period. The high growth of this segment is attributed to its rising use in streamlining contract lifecycle processes and maintaining complex contract documents in the contract repository for all contracts.
The market for healthcare payers is expected to witness the highest growth during the forecast period
The market for healthcare payers is projected to grow at the highest rate during the forecast period. The high growth rate of this segment can be attributed to the rising need to minimize regulatory compliance risks among healthcare payers. In addition, implementation of contract management software is vital for healthcare payers as it helps them in the effective management of claims processing and reimbursements.
“The software segment is expected to dominate the market in 2019.”
On the basis of products and services, the healthcare contract management software market is segmented into software and services. The software segment is expected to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the benefits offered by healthcare contract management software, such as increased visibility, improved efficiency, minimized contract risks, and improved payment accuracy & agility, among others.
“By end user, the healthcare payers segment is expected to grow at the highest CAGR during the forecast period.”
Based on end user, the healthcare contract management software market has been segmented into healthcare providers, healthcare payers, medical device manufacturers and pharma & biotech companies, and research organizations. The healthcare payers segment is expected to grow at the highest CAGR during the forecast period. The need to accelerate medical claims processing tasks, increase drafting efficiency, align contracts with physician groups and facilities, and integrate contract data with downstream claims or reimbursement systems is expected to drive the growth of the healthcare payers segment.
Read More@
https://www.marketsandmarkets.com/PressReleases/healthcare-contract-management-software.asp
The market for healthcare payers is expected to witness the highest growth during the forecast period
The market for healthcare payers is projected to grow at the highest rate during the forecast period. The high growth rate of this segment can be attributed to the rising need to minimize regulatory compliance risks among healthcare payers. In addition, implementation of contract management software is vital for healthcare payers as it helps them in the effective management of claims processing and reimbursements.
“The software segment is expected to dominate the market in 2019.”
On the basis of products and services, the healthcare contract management software market is segmented into software and services. The software segment is expected to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the benefits offered by healthcare contract management software, such as increased visibility, improved efficiency, minimized contract risks, and improved payment accuracy & agility, among others.
“By end user, the healthcare payers segment is expected to grow at the highest CAGR during the forecast period.”
Based on end user, the healthcare contract management software market has been segmented into healthcare providers, healthcare payers, medical device manufacturers and pharma & biotech companies, and research organizations. The healthcare payers segment is expected to grow at the highest CAGR during the forecast period. The need to accelerate medical claims processing tasks, increase drafting efficiency, align contracts with physician groups and facilities, and integrate contract data with downstream claims or reimbursement systems is expected to drive the growth of the healthcare payers segment.
Read More@
https://www.marketsandmarkets.com/PressReleases/healthcare-contract-management-software.asp
Key players in this market include Determine Inc. (US), CobbleStone Software (US), Concord (US), Contract Logix LLC (US), Icertis (US), Apttus Corporation (US), Optum Inc. (US), nThrive Inc. (US), Experian Plc. (Ireland), Coupa Software Inc. (US), and ScienceSoft (US).
Key players are focusing on increasing their presence in this high-growth market through both organic as well as inorganic growth strategies, such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions. Due to the intense competition in this market, major market players are increasingly focusing on expanding their geographic presence in high-growth emerging markets and strengthening their competitiveness in the market by acquiring smaller players with desired manufacturing capabilities or geographic presence.
No comments:
Post a Comment