Value-Based Care Market Report, Size Segments and Growth 2021: Research Strategies with Share Analysis, Top Key Players with Opportunities 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.
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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.
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
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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.
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.
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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
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in-depth studies, detailed analysis, and customized reports that help shape
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UnivDatos Market Insights
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Client Development Lead
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Labels: Value-Based Care Market
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