Accountable Care Solutions Market - Forecast(2022 - 2027)

Report Code: HCR 0486 Report Format: PDF + Excel

Accountable Care Solutions Market Overview

The Accountable Care Solutions market size is estimated to reach $28.9 billion by 2027, growing at a CAGR of 14.6% during the forecast period 2022-2027. Accountable Care Organizations (ACOs) represent the change in reimbursement from procedure-based, fee-for-service towards fee for quality, disease, and condition-based reimbursement with capitated payments to healthcare delivery organizations on a case-to-case basis. Accountable care solutions aid in the aggregation of disparate Electronic Health Record (EHR) data, while also enabling healthcare providers to use their current systems and workflows. Some of the key solutions provided by Accountable Care Solutions include healthcare analytics, claims management, electronic medical records, and care management solutions. The rise in the use of EHRs in the healthcare sector is driving the market during the forecast period. However, lack of IT domain knowledge in low and middle-income countries is a major challenge for the Accountable Care Solutions Industry.

Report Coverage

The report: “Accountable Care Solutions Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Accountable Care Solutions Market.

By Delivery Mode: Web and Cloud-Based, and On-Premise.
By End User: Healthcare Payer, and Healthcare Provider.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (the Middle East and Africa). 

Key Takeaways

  • Geographically, the North American Accountable Care Solutions market had accounted for the largest share in 2021. This is owing to the high levels of IT integration in the healthcare sector.
  • An increase in the demand for healthcare analytics and EHRs in healthcare is driving the market during the forecast period. However, concerns regarding data safety while using cloud computing are challenging growth opportunities.
  • Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Accountable Care Solutions Market Report.

Accountable Care Solutions Market Share, By Geography, 2021(%)

Accountable Care Solutions Market Share

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Accountable Care Solutions Market Segment Analysis - By Product and Service Type

Based on Product and Service Type, the Accountable Care Solutions Market is segmented into Healthcare Provider Solutions, Healthcare Payer Solutions, and Services. The Healthcare Provider Solutions segment is anticipated to have the largest share of the market in 2021 and is poised to dominate the market during the forecast period 2022-2027. The rapid growth of the segment is attributed to the rise in the adoption of EHRs in the healthcare industry. EHRs enable providers to effectively diagnose patients, reduce medical errors, improve patient information communication between departments, and eliminate the need for any time-consuming paperwork. The Healthcare Payer Solutions segment is also projected to witness significant growth at a CAGR of 15.2% owing to the global increase in the number of health insurance policyholders during the covid-19 pandemic.

Accountable Care Solutions Market Segment Analysis - By Deliver Mode

The Accountable Care Solutions Market based on Delivery Mode can be further segmented into Web and Cloud-Based and On-Premise. The Web and Cloud-Based Segment accounted for the largest share of the market in 2021. The growth of the segment is owing to the rise in the adoption of cloud computing and analytics in the sector as it allows healthcare providers and payers to incorporate data from the source. The cloud-based model of delivery also allows for scalability and flexibility, which enhances decision-making capabilities. Moreover, they enable real-time image sharing between different doctors, departments, and even medical facilities, thereby improving care coordination initiatives for providers associated with accountable care solutions. Furthermore, the Web and Cloud-Based segment Is also anticipated to register the fastest growth during the forecast period at a CAGR of 15.4% owing to their lower costs when compared to the On-Premise segment.

Accountable Care Solutions Market Segment Analysis - By Geography

The Accountable Care Solutions Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The North American segment is projected to dominate the Accountable Care Solutions market during the forecast period 2022-2027 with a market share of 47% owing to the presence of highly developed healthcare infrastructure, rising integration of IT systems in healthcare, high penetration of health insurance among the population and high healthcare expenditure in the region. Moreover, the presence of key industry players such as Cerner Corporation, IBM Corporation, UnitedHealth Group, Aetna, Allscripts Healthcare Solutions, Epic Systems Corporation, and McKesson Corporation in the region ensures high innovation and more choices for the healthcare providers and payers. The Asia Pacific region is predicted to register the fastest growth owing to the rapid development of the healthcare sector and the growing popularity of medical tourism in major emerging economies like China and India.

Accountable Care Solutions Market Drivers

Increase in Chronic Illnesses is Projected to Drive Market Growth:

It has been projected that, by 2020, chronic diseases will account for around 3 out of every 4 deaths worldwide. Almost half of the total deaths from chronic diseases are attributable to cardiovascular disorders. According to the World Health Organization (WHO), cardiovascular diseases are the main cause of mortality globally, leading to around 17.9 million deaths every year. Moreover, an estimated 19.3 million new cancer cases and 10 million cancer-related deaths were recorded in 2020. The cases are projected to reach 28.4 million in 2040, a 47% rise from 2020. This is increasing the demand for Accountable Care solutions for providing efficient treatment to the surging patient population.

The rise in demand for EHRs is Anticipated to Boost Product Demand:

The rise in the adoption of EHRs is driving the market for Accountable Care Solutions. For instance, the penetration of this system in the US is estimated to have risen to more than 89% in 2020 from 12.2% in 2009. Moreover, increasing government initiatives in developing regions such as India is further boosting the adoption of HER systems in the healthcare sector. The Ministry of Health & Family Welfare put forward a draft for the establishment of the Digital Health Information in Healthcare Security (DISHA) act in the parliament as a statutory body for promotion or adoption of e-Health standards in the country. Furthermore, the development of a digital framework called the National Health Stack is proposed by the National Institution for Transforming India (NITI Aayog). It aims to create digital health records for all the citizens of the country by the year 2022

Accountable Care Solutions Market Challenges

Rising Concerns Regarding Data Security is Anticipated to Hamper Market Growth:

The total healthcare breaches in the US increased 55.1%, from 386 in 2019 to 599 in 2020. Hacking and other information technology incidents accounted for 67.3% of data security breaches in 2020, which affected more than 24.1 million people. Moreover, the average healthcare provider took around 236 days to completely recover from a data breach and it cost the organizations more than $13.2 billion. The chief causes of the surge in the number of breaches were the rising adoption of cloud-based systems in healthcare and the increase in instances of working remotely during the pandemic by IT staff.

Covid-19 Pandemic and Subsequent Restrictions is Projected to Limit Growth Opportunities:

The rapid spread of the Covid-19 virus and the increased cases of hospitalizations have led to hospitals diverting funds and manpower from the IT department in order to purchase essential items such as ventilators, oxygen tanks, concentrators, hospital beds, PPE kits, and so on. It costs hospitals more than $88,000 to treat a single covid-19 patient with ventilator support in the US. Moreover, the pandemic has also significantly undermined health insurance coverage. For instance, the pandemic resulted in the unemployment of around 20 million workers in the US, leading to the loss of employer-sponsored health insurance coverage. Furthermore, the coverage of the workers who were still employed was reduced in order to limit costs. This will result in the population of uninsured people reaching 31 million.

Accountable Care Solutions Market Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Accountable Care Solutions Market. The top 10 companies in of the industry are-

  1. Epic System Corporation
  2. Cerner Corporation
  3. Allscripts Healthcare Solutions Inc
  4. United Group Inc.
  5. IBM Corporation
  6. NextGen Healthcare
  7. Optum Inc.
  8. Zeomega Inc
  9. Verisk Health
  10. McKesson Corporation
Partnerships/Product Launches:

  • In March 2020, NextGen Healthcare, Inc. announced it has closed the acquisition of OTTO Health. The acquisition of OTTO Health will enable the integration of virtual care across the NextGen Healthcare platform and offer the ability for patients and providers to experience a new dimension of care without taking the providers out of their natural workflow.
  • In June 2019, Optum announced that they completed the acquisition of DaVita Medical Group. DaVita is the largest provider of kidney care services in the US over the past 20 years. DaVita is committed to bold, patient-centric care models, implementing the latest technologies, and moving toward integrated care offerings for all.

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1. Accountable Care Solutions Market - Overview
    1.1 Definitions and Scope
2. Accountable Care Solutions Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Product and Service Type
    2.3 Key trends by Delivery Mode
    2.4 Key trends by Geography
3. Accountable Care Solutions Market – Comparative Analysis
    3.1 Company Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis – Average Selling Price
4. Accountable Care Solutions Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Accountable Care Solutions Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Accountable Care Solutions Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Accountable Care Solutions Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Accountable Care Solutions Market – By Product and Service Type (Market Size –$Million/$Billion)
    8.1 Healthcare Provider Solutions
        8.1.1 Electronic Health/Medical Records
        8.1.2 Healthcare Analytics
        8.1.3 Revenue Cycle Management Solutions (RCM)
        8.1.4 Patient Engagement Solutions
        8.1.5 Population Health Management (PHM) Solutions
        8.1.6 Care Management Solutions
        8.1.7 HCIT Integration Systems
        8.1.8 Healthcare Information Exchange (HIE)
        8.1.9 Clinical Decision Support Systems (CDSS)
    8.2 Healthcare Payer Solutions
        8.2.1 Claims Management Solutions
        8.2.2 Payment Management Solutions
        8.2.3 Provider Network Management Solutions
        8.2.4 Other Payer Solutions
    8.3 Services
        8.3.1 Support and Maintenance Services
        8.3.2 Implementation Services
        8.3.3 Consulting Services
        8.3.4 Training & Education Services
9. Accountable Care Solutions Market – By Delivery Mode (Market Size –$Million/$Billion)
    9.1 Web and Cloud-Based
    9.2 On Premise
10. Accountable Care Solutions Market - By End User (Market Size –$Million/$Billion)
    10.1 Healthcare Payer
    10.2 Healthcare Provider
11. Accountable Care Solutions Market - By Geography (Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Mexico
        11.1.3 Canada
    11.2 Europe
        11.2.1 U.K.
        11.2.2 France
        11.2.3 Germany
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Accountable Care Solutions Market - Entropy
13. Accountable Care Solutions Market – Industry/Segment Competition Landscape Premium
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
        13.1.4 Competition Matrix
        13.1.5 Best Practices for Companies
14. Accountable Care Solutions Market – Key Company List by Country Premium Premium
15. Accountable Care Solutions Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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