Accountable Care Solutions Global Market Report 2024: Advancing Towards A $25.42 Billion Projection

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With the healthcare industry continuously redefining better ways to deliver holistic and agile patient care, how has the accountable care solutions market responded to this progress?

The accountable care solutions market has displayed impressive growth in the past couple of years. The market is estimated to expand from $22.34 billion in 2023 to $25.42 billion in 2024. This remarkable evolution attributes to ongoing sector expansions, including rising healthcare expenditure, increasing adoption of patient-centric models, employing patient engagement tools, heightened demand for health analytics, and the growing preference for accountable care solutions among healthcare institutions.

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What is expected of the accountable care solutions market growth in the upcoming years?

Seemingly promising, the accountable care solutions market is projected to continue its rapid growth in the forecast period, reaching up to $42.86 billion by 2028. The anticipated CAGR stands at 14%, signifying a favorable market for investors. The growth drivers in the forecast period include escalating adoption rates of value-based care and integrated care models, augmented focus on population health management, growing consumer demand for quality care, and increasing prevalence of chronic diseases.

Further growth is likely to be steered by major market trends, including wider adoption of cloud-based platforms, increased focus on patient engagement, and significant development in remote patient monitoring.

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Chronic diseases, defined as enduring health issues lasting over a year, typically demand continuous care and significantly impact daily life. An aging population, longer lifespans, and prevalences of conditions such as heart disease and diabetes are crucial drivers of chronic diseases. Accountable care solutions are integral in managing these chronic diseases, significantly improving patient outcomes, enhancing patient care, and reducing costs through coordinated and preventive approaches. For example, the National Center for Biotechnology Information NCBI stated in January 2023 that they project 35.66% of adults aged 50 and older to have at least one chronic condition by 2035, escalating to 47.81% by 2050. Increased chronic disease prevalence thus propels the accountable care solutions market growth.

But who are the major players driving the accountable care solutions market?

Renowned companies operating within this market include UnitedHealth Group, McKesson Corporation, Optum Inc., Oracle Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., GE Healthcare, Infosys Limited, Change Healthcare, Aetna Inc., Athenahealth Inc., Lumeris, Inovalon Holdings Inc., eClinicalWorks LLC, NXGN Management LLC, Health Catalyst, Innovaccer Inc., ZeOmega Inc., MedeAnalytics Inc., HealthEC LLC, Azara Healthcare LLC, ISalus Healthcare LLC, and Ayoka L.L.C.

In response to market demand, these key players have pivoted to developing advanced AI-based models. These models leverage cutting-edge technology and algorithms to streamline healthcare processes and optimise patient care, resource distribution, and cost management. Innovaccer exemplifies this with their AI-assisted quality management solution launched in April 2024. The solution is tailored to assist accountable care organizations ACOs in complying with the new electronic clinical quality measure eCQMs requirements set by the Centers for Medicare & Medicaid Services CMS for 2025.

Taking a closer look at the accountable care solutions market segmentation, how do solutions, end-users, and deployment models shape this market?

The accountable care solutions market covered in this report is categorically segmented as follows -

1 By Component: Software, Services
2 By Solutions: Electronic Health Or Medical Records, Healthcare Analytics, Revenue Cycle Management Solutions RCM, Patient Engagement Solutions, Population Health Management PHM Solutions, Claims Management Solutions, Healthcare Information Exchange HIE, Other Solutions
3 By Deployment: On-Premise, Web And Cloud-Based
4 By End-User: Healthcare Providers, Healthcare Payers

In geographical terms, how diverse is the accountable care solutions market?

North America led the market in 2023. However, Asia-Pacific appears poised to emerge as the fastest-growing region for the accountable care solutions market.

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