Medical Claims Management Solutions Market Size, Growth rate and Future Analysis
A medical claim is a detailed invoice that a health care provider sends to the health insurer, exactly showing the services that have been rendered by the providers to the patient. Medical claims management involves multiple administrative and customer service layers that include review, investigation, adjustment, remittance or denial of a claim. Improved focus on quality healthcare services and adoption of cloud technology related services are contributing to the growth of the medical claims management solutions market.
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The medical claims management solutions market is segmented on the basis of product, deployment, component and geography. Based on product, the global industry is further divided into standalone claim management system and integrated claim management system.
The increasing investment in the healthcare infrastructure and services in Asia-Pacific offers huge market potential for the players to grow in medical claims management solutions market. Countries such as India and China are the two rapidly growing economies in the Asia-Pacific region, followed by South Korea. The government in these countries are putting in several efforts to provide better healthcare services and improved healthcare infrastructure. Healthcare IT related services bridge the gap between healthcare entities by lowering down the manual errors and also reducing healthcare expenditure. However, the healthcare IT industry in India is at its nascent stage. Thus, heavy inflow of investments by various government agencies to improve healthcare IT infrastructure in emerging markets is expected to create opportunities for healthcare claims management solutions providers.
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The major players in the medical claims management solutions market include IBM Corporation, Cerner Corporation, Oracle Corporation, Avaya Inc., Genpact Limited, Cognizant Technology Solutions Corporation, Accenture PLC, Allscripts Healthcare Solutions, Inc., Athenahealth Inc., Aspect Software Inc., and Infor Inc.
