The global patient access solutions market is projected to reach USD 2.9 billion by 2027 from an estimated USD 1.9 billion in 2022, at a CAGR of 8.9% during the forecast period. Growth in this market is driven by the increasing patient volume and subsequent growth in the demand for health insurance, an increase in the volume of unstructured data in the healthcare industry, and the rising need to curtail escalating healthcare costs.
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Key Market Players
The global patient access solutions market is consolidated with the presence of few regional and global players like Cognizant (US), McKesson Corporation (US), Cerner Corporation (US), Experian Plc (Ireland), 3M (US), Conifer Health Solutions (US), Waystar (US), Epic Systems Corporation (US), The SSI Group, LLC (US), , Cirius Group, Inc. (US), Craneware, Inc. (Scotland), Allscripts Healthcare Solutions, Inc. (US), Genentech, Inc. (US).
McKesson Corporation (US) dominated the global patient access solutions market in 2021. The company operates its business through four reportable segments, namely, US Pharmaceutical, Medical-Surgical Solutions, Prescription Technology Solutions, and International. Patient access solutions are offered under the US Pharmaceutical segment.
Optum, Inc. (US) was the second-largest player in the patient access solutions market in 2021. The company provides solutions to healthcare payers, providers, employers, as well as government and life sciences companies. The company primarily operates through three business segments, namely, OptumHealth, OptumInsight, and OptumRx. The OptumHealth segment is involved in care delivery, care management, wellness and consumer engagement, as well as health financial services, such as patient access solutions.
North America dominated the patient access solutions market
North America accounted for the largest share of the patient access solutions market, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the stringent regulations, increasing government support for improving healthcare infrastructure, the need for reducing healthcare costs, an increasing volume of claims denials, the high number of private healthcare payers and well-established government payers, as well as the presence of a large number of healthcare IT companies, such as McKesson Corporation (US), 3M (US), Cerner Corporation (US), Cognizant (US), Conifer Health Solutions (US), and Epic Systems Corporation (US).
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Recent Developments
- Cerner and Baystate collaborated to introduce a digital health platform to integrate care delivery and financing systems for a more consumer-focused approach to patient care.
- Cognizant and Philips collaborated to develop end-to-end digital health solutions that will enable healthcare organizations and life science companies to improve patient care and accelerate clinical trials.
- Optum (US) collaborated with Bassett Healthcare Network (US) to provide software and data analytics, technology-enabled services and research, as well as advisory and revenue cycle management offerings to advance the delivery of high-quality, convenient, and affordable healthcare for patients across Central New York.
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