Cyclic innovation to drive the Medical Case Management Services Market
The Medical Case Management Services Market shall be growing unabatedly in the future. The healthcare vertical is expected to go “personalized” in the next 10 years. Thus, genomics and genetics, along with the other biologic information, going personalized will help in early diagnosis of the disease and also how patients will respond to the treatments. Likewise, the healthcare vertical would be there to make greater strides in the forecast period.
The global medical case management services market features the dominance of a handful of big players that hold leading market shares. Large players are focused on expanding their presence in regional markets through partnerships and strategic collaborations with regional players. A case in point is GENEX Services Inc. In 2014, the company acquired M Hayes – a leading case medical case management firm that specializes in workers’ compensation and disability insurance.
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The global medical case management services market is predicted to clock a CAGR of 3.04% for the forecast period between 2017 and 2021. Expanding at this pace, the market’s valuation of US$4573.4 mn in 2017 will become US$5,155.1 mn by the end of 2021.
- GENEX Services Inc.
- Europ Assistance – Global Corporate Solutions.
- Medical Case Management Group.
- EK Health Services Inc.
- EagleOne Case Management Solutions, Inc.
- Axiom Medical Consulting, LLC.
- Healthcare Solutions Inc.
- Managed Medical Review Organization Inc.
- Precyse Solutions LLC.
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Hospitals End-use Segment to Contribute Leading Revenue
The global medical case management service market is studied in terms of mode of service, severity of case, end user, and region. Depending upon mode of service, web-based, field case, bilingual field, telephonic, and other services are the segments into which the medical case management services market is divided. Of them, telephonic case management service market is expected to continue to hold leading market share over the forecast period. Web-based medical case management service currently holds the second-leading share in this market; the segment anticipated to lose 40 BPS over the forecast period between 2017 and 2021.
By end user, the medical case management service market is bifurcated into hospitals and home care settings. Of the two, hospitals is anticipated to account for the leading revenue contribution to the medical case management service market in the near future. This is mainly because of increasing rate of hospitalization coupled with increasing healthcare expenditure to opt for best treatment option. The increasing prevalence of chronic and long-term diseases also account for leading market share of hospital end-use segment. On the other hand, home care settings segment is predicted to exhibit a sluggish growth rate as very few people opt for home treatments for serious health conditions and severe injury.
Depending upon severity of case, the medical case management service market is segregated into chronic pain case management, catastrophic case management, independent medical examinations, short-term disability, and long-term disability. Among them, long-term disability accounts for the leading revenue contribution to the overall market. Chronic pain case management segment is predicted to remain attractive through the forecast period.
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North America to Continue to Remain at the Forefront
On the basis of geography, the medical case management service market is divided into Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific. North America, among them, holds supremacy in the overall market; going forward, the region is anticipated to hold on to its dominant position. Europe ranks as the second-leading region due to substantial adoption of health insurance policy in the region. Asia Pacific medical case management services market is anticipated to emerge attractive due to rising medical tourism in emerging economies of the region.
To summarize, the global medical case management services market is driven by rising healthcare expenditures and increasing prevalence of chronic diseases. Medical case management services aids to avoid unnecessary hospital admissions and helps to deliver informed patient care.
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