Value-Based Care Market Report - Industry Size and Global Share 2021: Business Expansion Strategies, Growth Dynamics, Opportunities and Challenges Forecast to 2027
A comprehensive overview of the value-based care market is recently added by UnivDatos Market Insights to its humongous database. The value-based care market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the value-based care market. The value-based care market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the value-based care market at the global and regional levels. The Global Value-Based Care Market was valued at 2.03 billion in 2020 and is expected to grow at a CAGR of 20.3% by 2027.
Market Overview
Value-Based
Care is a type of payment model that rewards providers for delivering
high-quality care at reduced prices. Value-Based Care serves at the front for
piloting the future of healthcare across the world. It shows a significant bend
in the cost curve as the payers are finding a positive impact of value-based
care on scaling up the payment models for the care of patients. As per the
Health Payer Intelligence survey 2018, nearly 80% of payers stated improvements
in care quality from providers in obtaining value-based settlements. Besides,
64% of payers stated enhancements in provider relationships and 73% of payers
stated that patient engagement with beneficiaries improved by using value-based
care. In this way, healthcare
operation is changing by the adoption of value-based care and upsurging its
market.
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Value-Based Care payment models aim to reduce spending while
improving healthcare quality and outcomes. In
value-based care models, healthcare providers are paid based on healthcare
outcomes delivered to the patients, rather than just for services provided. In
2020, According to a healthcare firm “Humana”, 67% of individual Medicare
Advantage members were cared for by primary care providers with value-based
arrangements and gained better outcomes. Also, in October 2020, there were
around 85% of “Cigna’s” Medicare Advantage network physicians, who
were working in value-based payment arrangements.
COVID-19 Impact
COVID-19 threw an unpredicted wrinkle into
value-based care contracts. The initial concerns of VBC providers were,
COVID-19 might spoil the claims of contractors, mainly due to Medicare’s
efforts to work with providers taking downside risk. But COVID-19 only underlined
providers to diversify by enhancing fee-for-service (FFS) income with VBC
revenue streams. After that, the patient numbers and FFS payments dried up the provider
performance data, show that savings per case in bundled payment programs
remained high and capitated payments constant. According to Medical
Economics, Before the pandemic less than 20% of Medicare spending was in VBC
contracts, further CMS wants it to move 100% of Medicare providers into
two-sided risk arrangements by 2025. Likewise, CMS wants half of its Medicaid
and commercial contracts in VBC models by 2025 and most commercial payers were
following their lead. Also, even if Medicare fails to reach 100% participation
by 2025, the momentum shift is clear and the VBC is moving ahead.
Global Value-Based Care Market report is studied thoroughly with
several aspects that would help stakeholders in making their decisions more
curated.
By Models, the market is primarily bifurcated into
·
Accountable
Care Organization (ACO)
·
Patient-Centered
Medical Home (PCMH)
·
Pay for
Performance (P4P)
·
Bundled
Payments
The Accountable
Care Organization (ACO) segment generated the highest revenue in 2020. The
market is expected to grow at a significant rate during the forecast period as they
provide high-quality
care to the patients and managed to reduce the cost of care.
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By Deployment, the market is primarily segmented into
·
Cloud-Based
·
On-Premises
Amongst Deployment, the Cloud-Based segment dominated the market in 2020. Collaboration between doctors, departments, and even institutions is
critical as healthcare organizations move toward value-based care models.
Medical professionals can share data via a cloud computing server, enhancing
collaboration and resulting in improved treatment.
By Platform, the market is primarily bifurcated into
·
Integrated
The Integrated
Platform segment accounted for the major revenue portion in 2020. The segment is
anticipated to observe significant growth in the upcoming years. Integrated health care, often referred to as interprofessional
health care, is an approach characterized by a high degree of collaboration and
communication among health professionals. Integrated health care is unique in the
sharing of information among team members related to patient care and the
establishment of a comprehensive treatment plan to address the biological,
psychological, and social needs of the patient, owing to these benefits
integrated platform is high in demand.
By End-User, the
market is primarily bifurcated into
· Payers
· Patients
Value-Based Care Market Geographical Segmentation Includes:
·
North America (the United States,
Canada, and Rest of North America)
·
Europe (Germany, United Kingdom,
Italy, France, Spain, and Rest of Europe)
·
Asia-Pacific (China, Japan, India,
Australia, and
Rest of Asia-Pacific)
·
Rest of the World
Based
on the estimation, North America constitutes a major market for the Value-Based
Care industry and generated maximum revenue in 2020.
In 2020, as in 2018, almost all physicians (97%) relied on FFS and/or salary
for their compensation and 36% also drew compensation from value-based
payments.
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The
major players targeting the market includes
· Nextstep Solutions
· Athena Health
· NXGN Management, LLC
· McKesson Corporation
· Optum
· Oliver Wyman
· Baker Tilly
· Aetna
· Blue Cross Blue Shield Association
Competitive Landscape
The degree of competition among prominent global companies has been
elaborated by analyzing several leading key players operating worldwide. The
specialist team of research analysts sheds light on various traits such as
global market competition, market share, most recent industry advancements,
innovative product launches, partnerships, mergers, or acquisitions by leading
companies in the Value-Based Care market. The major players have been analyzed
by using research methodologies for getting insight views on global
competition.
Key questions resolved through this
analytical market research report include:
·
What are the latest trends, new
patterns, and technological advancements in the Value-Based Care Market?
·
Which factors are influencing
the Value-Based Care Market over the forecast period?
·
What are the global challenges,
threats, and risks in the Value-Based Care Market?
·
Which factors are propelling
and restraining the Value-Based Care Market?
·
What are the demanding global
regions of the Value-Based Care Market?
·
What will be the global market
size in the upcoming years?
·
What are the crucial market
acquisition strategies and policies applied by global companies?
·
We understand the requirement
of different businesses, regions, and countries, we offer customized reports as
per your requirements of business nature and geography. Please let us know If
you have any custom needs.
About UnivDatos
Market Insights
UnivDatos
Market Insights (UMI) is a passionate market research firm and a subsidiary of
Universal Data Solutions. We believe in delivering insights through Market
Intelligence Reports, Customized Business Research, and Primary Research. Our
research studies are spread across topics across the world, we cover markets in
over 100 countries using smart research techniques and agile methodologies. We
offer in-depth studies, detailed analysis, and customized reports that help
shape winning business strategies for our clients.
Contact
UnivDatos Market Insights
Pawnendra Pawan
Client Development Lead
Ph: +91-7838604911
Email: pawnendra@univdatos.com
Website: https://univdatos.com/
Labels: Value-Based Care Market
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