The term accountable care organizations represents modification in reimbursement from process based fee for service to fee for quality, disease and condition based repayment with capitated payments to health care delivery organizations on a per case and per capita basis. In order to be commercially operative as an accountable care organization, it needs to determine whether it is delivering an advanced quality of health care and upgraded proficiency.
The term accountable care organizations (ACO) represents modification in reimbursement from process based fee for service to fee for quality, disease and condition based repayment with capitated payments to health care delivery organizations on a per case and per capita basis. In order to be commercially operative as an accountable care organization, it needs to determine whether it is delivering an advanced quality of health care and upgraded proficiency. Accountable care solutions help aggregate disparate electronic health record (EHR) data, although permitting providers to use their present systems and workflows. The financiers establish an outline whereby provider groups agree to care for a population of patients with the aim of reaching or exceeding prearranged cost and quality standards. Integrating distinct sources of information to build a single organized accountable care solution is hard, but organizations have made significant investments in these software to help and make it easy for experts to swiftly incorporate accountable care solutions software.
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Accountable Care Solutions Market: Dynamics
There is growing importance in the possibility for accountable health care to contain costs while promising patient-centered affordable care. Growing need to abide by regulatory guidelines, high return on investment, government initiatives for eHealth, and the need to restrain increasing health care costs are some of the key factors driving the market. However, hesitancy among end-users to adopt new procedures and lack of in-house IT familiarity are factors likely to hamper the growth of the market. Additionally, reluctance among providers to adopt to these solutions, requirement of infrastructural investments, inadequate patient engagement, low usage of Internet solutions, lack of interoperability, and data security concerns related to cloud-based solutions are other factors restraining the market.
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Accountable Care Solutions Market Segmentation:
Based on component, the market can be segmented into hardware, software, and services. In terms of deployment, the market can be segmented into on-premise, cloud-based, and web-based solutions. Based on end-user, the market can be segmented into health care payers and health care providers.
The ability to rapidly access computing and storage resources when needed without the need for a large technical staff is an important factor encouraging the uptake of accountable care solutions. Gradually, health care is molded and critically compressed by software and information technology that surrounds and supports the industry.
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Accountable Care Solutions Market: Region-wise Outlook
Geographically, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds major share of the global market, followed by Europe and Asia Pacific. However, Latin America and Asia Pacific hold lucrative growth potential in the market due to rising prevalence of various disorders, extensive customer base, rising medical tourism, increasing government initiatives for eHealth, growing demand for quality health care, and large base of aging population in the region. Most of the accountable care solutions products and services in these regions are driven by developing countries such as Singapore, China, India, Mexico, Brazil, and South Korea.
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Key Players
Key players operating in the market are Aetna, Inc., Allscripts Healthcare Solutions, Cerner Corporation, eClinicalWorks, Inc., Epic Systems Corporation, IBM Corporation, McKesson Corporation, NextGen Healthcare, Optum, Inc., UnitedHealth Group, Inc., Verisk Health, and Zeomega, Inc. The companies in this market are adopting various strategies such as partnerships, collaboration, mergers and acquisitions, expansion, product enhancements and product deployment to proliferate their share and create a strong position in the global market.
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