Accountable Care Solutions Market Size Worth $49.3 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Oct. 24, 2022 /PRNewswire/ -- The global accountable care solutions market size is expected to reach USD 49.3 billion by 2030, according to a new report by Grand View Research, Inc. The industry is expected to grow at a CAGR of 11.5% during the forecast period. Accountable care solutions help proactively identify chronic conditions in patients, which helps reduce hospital stays and healthcare costs considerably. This is a key factor driving the demand for accountable care solutions. The rising number of Accountable Care Organizations (ACOs) offering services at considerably lower costs is expected to increase the adoption of these solutions, thereby positively impacting the industry growth.

Key Industry Insights & Findings from the report:

• In 2021, the software segment dominated the industry due to the use of software to streamline workflows and offer better patient care and safety.
• In 2021, the Population Health Management (PHM) solutions segment accounted for the maximum share owing to the increasing demand as these solutions help reduce healthcare costs and hospital re-admissions.
• In 2021, the web & cloud-based segment dominated the global industry due to better availability and cost efficiency of the services offered by the web & cloud-based solutions.
• In 2021, the healthcare providers segment held the largest revenue share due to the rising adoption of accountable care solutions to provide better healthcare services to the patients at reduced costs.
• North America led the global industry in 2021 due to higher adoption of digital solutions and automation in healthcare facilities.
• The rising number of initiatives undertaken by the key players is anticipated to drive the region's growth over the coming years.

Read 100-page full market research report for more Insights, "Accountable Care Solutions Market Size, Share & Trends Analysis Report By Component (Software, Services), By End-user (Healthcare Providers, Healthcare Payers), By Solution (PHM, RCM), By Delivery Mode, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Accountable Care Solutions Market Growth & Trends

For instance, according to an article by Fierce Healthcare in January 2022, the number of ACOs participating in the Medicare Shared Savings Program (MSSP) in the U.S. increased to 483 in 2022 as compared to 477 in 2021. The article also states that the number of Medicare beneficiaries receiving care from a provider in MSSP ACO reached more than 11 million as of January 2021. Moreover, additional features offered by accountable care solutions, such as telehealth services, which help patients receive remote care through their phones or computers, are anticipated to bolster the adoption of these solutions. For instance, in March 2022, Collaborative Health Systems, a population health management organization, and Community Care Alliance, an accountable care organization, announced a venture.

Through this venture, they will provide value-based care in rural Colorado and eastern Utah. The venture aims to lower the healthcare costs for Medicare beneficiaries by operating Medicare ACOs and entering into value-based contracts with Medicare Advantage organizations. The venture has the prospect to reach 20,000 patients and several more non-Medicare populations. Furthermore, the rising number of partnerships and joint ventures between insurance companies and healthcare providers to enhance revenue flow and offer healthcare services at a lower cost through the adoption of ACO is anticipated to increase industry growth. For instance, in 2020, according to the Centers for Medicare and Medicaid Services, ACOs participating in MSSP earned shared savings of about USD 2.3 billion.

This helped Medicare save USD 1.9 billion. In addition, various government initiatives undertaken to increase the profitability of healthcare operations by the implementation of eHealth, Electronic Health Records (EHRs), and revenue systems to provide better care to the patients and provide patient-centric solutions are anticipated to drive industry growth during the forecast period. For instance, according to an article by HealthIT.gov, published in 2021, 86% of non-federal general acute care hospitals had adopted EHR systems.

Accountable Care Solutions Market Segmentation

Grand View Research, Inc. has segmented the global accountable care solutions market based on component, solution, delivery mode, end-user, and region

 Accountable Care Solutions Market - Component Outlook (Revenue, USD Million, 2016 - 2030)

• Software
• Services

Accountable Care Solutions Market - Outlook (Revenue, USD Million, 2016 - 2030)

• Electronic Health/Medical Records
• Healthcare Analytics
• Revenue Cycle Management Solutions (RCM)
• Patient Engagement Solutions
• Population Health Management (PHM) Solutions
• Claims Management Solutions
• Healthcare Information Exchange (HIE)
• Others

Accountable Care Solutions Market - Delivery Mode Outlook (Revenue, USD Million, 2016 - 2030)

• Web & Cloud-based
• On-premises

Accountable Care Solutions Market - End-user Outlook (Revenue, USD Million, 2016 - 2030)

• Healthcare Providers
• Healthcare Payers

Accountable Care Solutions Market - Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• Australia
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• South Africa
• Saudi Arabia
• UAE

List of Key Players in the Accountable Care Solutions Market

• Cerner Corp.
• IBM Corp.
• UnitedHealth Group
• Aetna, Inc.
• Allscripts Healthcare Solutions, Inc.
• Epic Systems Corp.
• McKesson Corp.
• Zeomega Inc.
• Verisk Health, Inc.
• Eclinicalworks, LLC

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc