Value-Based Reimbursement Software Market to reach US$ 1012.03 million by 2029 - A Report by Reports N Markets

 2021-12-03 04:26:31

With more people seeking better healthcare value-added facilities, the medical industry is moving towards revenue and payment systems that provide more value-based reimbursement, a rather alternative payment model that reflects the increasingly patient-focused, value-based delivery of care.

This is where the value-based reimbursement solutions come into picture. It is a system that helps reduce payer health care costs by optimizing the payer-provider relationship and payment structures.

Such type of solutions can be made available as service, software, or a hybrid of both. A software allows health care software vendors to equip health care organizations with the analytics and expertise that are necessary to modify existing reimbursement models.  

Hospitals and health care practices through the deployment of value-based reimbursement strategies, can achieve better and more accurately compensate the services rendered to a patient.

A good Value-Based Reimbursement software must be able to identify high value care payment method bundles and insurance providers, mine and analyze patient and population data, model and analyze impact of value-based reimbursement models and offer flexible or customizable contract templates.

Providing a value-based care comprises variety of care, such as enhancing patient experience, standardising outcome and cost of care, and treatment delivery through a collaborative chain of activities with measurable outcomes.

At present, several healthcare providers in order to help payers operationalize contracts are addressing the need for proper payment analytics. While there are also companies who has partnered with providers to help them understand patients in a better manner and collect payments more efficiently.

If such a growth continues by health organizations, their approach to delivering and evaluating services will become more efficient and patient-friendly.

This detailed study gives subjective and quantitative investigation of Value-Based Reimbursement Software Market. The report has been made after detailed analysis of market income across locales and further across every one of the significant nations. The stock side investigation covers the significant market players and their local and worldwide presence and systems. The geological examination done underlines on every one of the significant nations across North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Important takeaways of the report:

  • With valuation at US$ 201.74 million in 2020, Value-Based Reimbursement Software Market is expected to get up to US$ 1012.03 million by 2029. The growth is projected at an estimated CAGR of 20.0% over the period of next ten years.
  • Several healthcare organizations have seen benefits that extend to their operations and reduced costs. Cigna, health services provider for instance had announced that it exceeded its goal of using alternative models for 50 percent of its payments, which means that roughly 3.6 million patients receiving care through a value-based model.
  • The leading companies operating in Value-Based Reimbursement Software Market are Cognizant, Signify Health, Aver Inc., Change Healthcare, VIGILANCE HEALTH, INC., Lyfegen HealthTech AG., ForeSee Medical Inc., HealthEdge Software, Inc., naviHealth, Inc., Quadax, Inc., RevenueXL Inc., NEXTSTEP SOLUTIONS, INC., nThrive, Inc., and other Market Participants.
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