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North America Quality Management In Healthcare Market
North America Quality Management In Healthcare Market By Software (BI, Analytics, Reporting, Performance Improvements), Mode Of Delivery (Cloud, Web, On-Premise), Application (Data, Risk Management) And End User (Hospital, Ambulatory Care, Payer) - Forecast To 2024
Report ID:MRHC - 10423 Pages: 130 Sep-2018 Formats*: PDF Category: Healthcare Delivery: 2 to 4 HoursNorth America Healthcare Quality Management Market Worth $2.95 Billion by 2024
Quality management in healthcare organizations is considered as a means to better meet the needs and expectation of patients and is one of the most effective strategies for improving the health system performance.
With increasing complexity of health institutions and system, focus on efficiency and effectiveness, growing pressure on cost-reduction, shifts towards affordable care, government initiatives to improve patient outcomes & safety, rising unstructured data in healthcare, and improving health IT infrastructure, the North America quality management in healthcare market is booming and is expected to grow at a CAGR of 15.8% from 2018 to reach $2.95 billion by 2024.
Rising Government Initiatives to Improve Patient Outcomes & Safety
The transition towards electronic data has modernized many ways of healthcare delivery in North America and contributed to safety improvements in a number of areas. However, the increased use of electronic data has also given rise to new, unanticipated safety challenges. For instance, an incorrect dose of medication or clinicians may select the wrong person when inputting an order.
The patient outcomes & safety is of topmost priority in the U.S. healthcare system and many programs are launched in order to improve the healthcare quality and reduce the cost. For instance, Health Information Technology for Economic and Clinical Health (HITECH) Act initiated by Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health IT in the U.S. to support the concept of electronic health records – via meaningful use.
Accountable Care Organizations (ACO) have been key to the ACA achieving quality care at decreased costs and the success of ACOs relies on population health management (PHM) and quality management solutions. Moreover, growing patient demand for quality care has further pushed the U.S. healthcare system to implement advanced technologies such as analytics, PHM and quality management solutions that curtail costs, improve care quality, and reduce operational inefficiencies. Such activities fuel the adoption of healthcare quality management solutions across the region.
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Rising Focus on Value-Based Care Model is Catching the Attention!
The shift towards value-based care model offers unprecedented opportunities in the U.S. healthcare system. The value-based payment also results in improving the quality and outcome measures.
With increasing unsustainable cost, demand for value-based care by stakeholders, government support for new payment approaches, and increase in sophistication of healthcare system are accelerating the shift to value-based care in the country. According to the U.S. Health & Human Services, 30 percent of fee-for-service Medicare payments is converted to value-based payment models by the end of 2016 and is expected to reach by 50 percent of traditional payments to make the transition by 2018.
Key Findings in the North America Healthcare Quality Management Market Study:
Business Intelligence and Analytics to Witness Fastest Growth in North America Healthcare Quality Management Market
Business Intelligence and Analytics dominates the market as it has been used by healthcare organizations to extract meaningful, actionable insights from the wealth of raw information that is the key to improve quality and patient outcomes. With increasing complexity in healthcare data in healthcare system and dependency on digital technology in the country, business intelligence acts as a boon in business operation management in the U.S., thereby witnessing the fastest growth in the North America market.
Data Management to Witness the Fastest Growth Through 2024
With the adoption of EHR, there is an immense increase in the amount of healthcare data across the region. The effective data management in the hospitals helps to overcome the challenges they face regarding data and storage management such as data silos, errors, and information explosion. Thus, increasing volume of disparate data and the requirement of quality-based reports by regulatory bodies offer immense growth opportunities for North America quality management in healthcare market in the near future.
Hospitals dominate the North America Healthcare Quality Management Market
With the increase in aging population and rising health care costs in North America, quality management in healthcare is gaining increased attention and results in increasing demand in the region. In addition, growing HCIT adoption, increasing focus on quality care and patient safety, significant growth in health care spending and venture capital investments in HCIT, rising medical error rates, increasing healthcare costs, and government mandates to follow quality measures and reporting are the major factors supporting the adoption of healthcare quality management solutions in hospitals.
The U.S. Comprises the Largest Share in North America Healthcare Quality Management Market
The U.S. commanded the largest share of North America quality management in healthcare market in 2017, followed by Canada. The large share of this region is primarily attributed to rising need to curtail growing healthcare costs and improve patient outcomes, implementation of Affordable Care Act (ACA) in the U.S., stringent legislative and accreditation requirements regarding healthcare quality reporting, shift from fee-for-service to value-based reimbursements, growing patient data volume, high awareness and adoption of healthcare IT technologies, regulatory requirements to minimize medical errors and clinical risk, and the presence of a large number of healthcare IT companies in the country.
North America Quality Management In Healthcare Market Key Players
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 3 years (2015-2018). The key players profiled in the North America quality management in healthcare market research report include McKesson Corporation, Medisolv, Inc., Nuance Communication, Inc., Quantros, Inc., Dimensional Insight, Inc., Dolbey Systems, Inc., Verscend Technologies, Inc., MedeAnalytics, Inc., CitiusTech Inc., Conduent, Inc., ArborMetrix, Inc. (Change Healthcare), Altegra Health, General Dynamics Health Solutions, Cognizant Technology Solutions Corporation, 3M Company, Truven Health Analytics (IBM Watson Health), and Persivia, among others.
Scope of North America Quality Management In Healthcare Market Report:
Market by Software Type:
- Business Intelligence & Analytics
- Physician Quality Reporting Solutions
- Clinical Risk Management Solutions
- Provider Performance Improvement Solutions
Market by Mode of Delivery:
- Web-& Cloud-based solutions
- On-premise solutions
Market by Application:
- Data Management
- Data Processing & Analysis
- Unstructured Data Abstraction
- Report Generation & Regulatory Submission
- Risk Management
Market by End User:
- Hospitals
- Ambulatory Care Centers
- Healthcare Payers
- Government bodies& Others
Market by Geography:
- North America
- U.S.
- Canada
Key questions answered in North America Quality Management In Healthcare Market report
Rising Government initiatives to improve patient outcomes & safety and rising focus on value-based care model help to drive the growth of North American healthcare quality management market.
- How does the penetration of quality management solutions in hospitals and ambulatory care centers differ from other end users?
- Which are the high growth market segments in terms of software type, application, end-user, and countries?
Healthcare payers and Government bodies account for a relatively small proportion of North American quality management in healthcare
- What factors contribute to the growth of usage of quality management solutions by the healthcare payers & government bodies?
- Which geographic segment is expected to experience the fastest growth in terms of adoption of quality management solutions by the healthcare payers & government bodies?
The North American quality management in healthcare market favors both larger and local manufacturers that compete in multiple segments
- Who are the top competitors in this market and what strategies do they employ to gain shares?
- Which segments of the quality management in healthcare are expected to offer lucrative revenue growth over the forecast period and why?
- What strategies should the new companies focus to enter this market and to compete effectively?
- What are the major drivers, restraints, opportunities, and challenges in the North American quality management in healthcare market?
- Who are the major players in various countries?
- What are the geographic trends and high growth regions/countries?
Recently, several new product launches, partnerships, acquisitions, and expansions have taken place in the North American healthcare quality management space
- What companies have recently merged/acquired and how will these unions affect the competitive landscape of the North American quality management in healthcare space?
- What companies have created partnerships and how will these partnerships promote a competitive advantage?
- Who are the major players in the North American quality management in healthcare market?
- Who are the local emerging players in the North America quality management in healthcare market and how do they compete with the global players?
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Government Initiatives to Improve Patient Outcomes & Safety
4.2.2. Rising Unstructured Data in Healthcare
4.2.3. Increasing Geriatric Population & Burden of Chronic Diseases
4.2.4. Improving Health IT Infrastructure
4.3. Restraints
4.3.1. Data Privacy & Confidentiality Issues
4.3.2. Lack of Interoperability
4.3.3. Reluctance to Migrate from Conventional Systems
4.4. Opportunities
4.4.1. Rising Focus on Value-Based Care Model
5. North America Healthcare Quality Management Market, By Software Type
5.1. Introduction
5.2. Business Intelligence & Analytics
5.3. Physician Quality Reporting Solutions
5.4. Clinical Risk Management Solutions
5.5. Provider Performance Improvement Solutions
6. North America Healthcare Quality Management Market, By Mode of Delivery
6.1. Introduction
6.2. Web- & Cloud-Based Solutions
6.3. On-Premise Solutions
7. North America Healthcare Quality Management Market, By Application
7.1. Introduction
7.2. Data Mangement
7.2.1. Data Processing & Analysis
7.2.2. Unstructured Data Abstraction
7.2.3. Report Generation & Regulatory Submission
7.3. Risk Management
8. North America Healthcare Quality Management Market, By End-User
8.1. Introduction
8.2. Hospitals
8.3. Ambulatory Care Centers
8.4. Healthcare Payers
8.5. Government Bodies & Others
9. North America Healthcare Quality Management Market, By Geography
9.1. Introduction
9.2. North America
9.2.1. U.S.
9.2.2. Canada
10. Competitive Landscape
10.1. Introduction
10.2. Partnerships, Agreements, Strategic Alliances & Collaborations
10.3. New Product Launches & Upgradations
10.4. Mergers & Acquisitions
10.5. Expansion
11. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
11.1. 3M Company
11.2. Altegra Health Inc. (Change Healthcare)
11.3. ArborMetrix, Inc.
11.4. CitiusTech Inc.
11.5. Cognizant Technology Solutions Corporation
11.6. Conduent, Inc.
11.7. Dimensional Insight, Inc.
11.8. Dolbey Systems, Inc.
11.9. General Dynamics Health Solutions
11.10. McKesson Corporation
11.11. MedeAnalytics, Inc.
11.12. Medisolv, Inc.
11.13. Nuance Communications, Inc.
11.14. Persivia
11.15. Quantros, Inc.
11.16. Truven Health Analytics (IBM Watson Health)
11.17. Verscend Technologies, Inc.
12. Appendix
12.1. Questionnaire
12.2. Available Customization
List of Tables
Table 1 North America Health Quality Management Market: Impact Analysis of Market Drivers (2018–2024)
Table 2 North America Healthcare Quality Management Market: Impact Analysis of Market Restraints (2018–2024)
Table 3 North America Healthcare Quality Management Market Size, by Software Type, 2018-2024 ($ Million)
Table 4 North America Healthcare Quality Management Business Intelligence & Analytics Market Size, by Country, 2018-2024 ($ Million)
Table 5 North America Physician Quality Reporting Solutions Market Size, by Country, 2018-2024 ($ Million)
Table 6 North America Clinical Risk Management Solutions Market Size, by Country, 2018-2024 ($ Million)
Table 7 North America Provider Performance Improvement Solutions Market Size, by Country, 2018-2024 ($ Million)
Table 8 North America Healthcare Quality Management Market Size, by Mode of Delivery, 2018-2024 ($ Million)
Table 9 North America Web- & Cloud-Based Healthcare Quality Management Solutions Market Size, by Country, 2018-2024 ($ Million)
Table 10 North America On-Premise Healthcare Quality Management Solutions Market Size, by Country, 2018-2024 ($ Million)
Table 11 North America Healthcare Quality Management Market Size, by Application, 2018-2024 ($ Million)
Table 12 North America Data Management Solutions Market Size, by Type, 2018-2024 ($ Million)
Table 13 North America Data Management Market Size, by Country, 2018-2024 ($ Million)
Table 14 North America Data Processing & Analysis Market Size, by Region/Country, 2018-2024 ($ Million)
Table 15 North America Unstructured Data Abstraction Market Size, by Country, 2018-2024 ($ Million)
Table 16 North America Report Generation & Regulatory Submission Market Size, by Region/Country, 2016-2023 ($ Million)
Table 17 North America Risk Management Market Size, by Country, 2016-2023 ($ Million)
Table 18 North America Healthcare Quality Management Market Size, by End User, 2018-2024 ($ Million)
Table 19 North America Healthcare Quality Management Market Size for Hospitals, by Country, 2018-2024 ($ Million)
Table 20 North America Healthcare Quality Management Market Size for Ambulatory Care Centers, by Country, 2018-2024 ($ Million)
Table 21 North America Healthcare Quality Management Market Size for Payers, by Country, 2018-2024 ($ Million)
Table 22 North America Healthcare Quality Management Market Size for Government Bodies and Others, by Country, 2018-2024 ($ Million)
Table 23 North America Healthcare Quality Management Market Size, by Country, 2017-2024 ($ Million)
Table 24 North America Healthcare Quality Management Market Size, by Country, 2017-2024 ($ Million)
Table 25 North America Healthcare Quality Management Market Size, by Software Type, 2017-2024 ($ Million)
Table 26 North America Healthcare Quality Management Market Size, by Mode of Delivery, 2017-2024 ($ Million)
Table 27 North America Healthcare Quality Management Market Size, by Application, 2017-2024 ($ Million)
Table 28 North America Data Management Market Size, by Type, 2017-2024 ($ Million)
Table 29 North America Healthcare Quality Management Market Size, by End User, 2017-2024 ($ Million)
Table 30 Total Population by Sex and Percentage by Broad Age Group by Country and Region, 2017
Table 31 U.S.: Macroeconomic Healthcare IT Indicators
Table 32 U.S.: Healthcare Quality Management Market Size, by Software Type, 2017-2024 ($ Million)
Table 33 U.S.: Healthcare Quality Management Market Size, by Mode of Delivery, 2017-2024 ($ Million)
Table 34 U.S.: Healthcare Quality Management Market Size, by Application, 2017-2024 ($ Million)
Table 35 U.S.: Data Management Market Size, by Type, 2017-2024 ($ Million)
Table 36 U.S.: Healthcare Quality Management Market Size, by End User, 2017-2024 ($ Million)
Table 37 Canada: Macroeconomic Healthcare IT Indicators
Table 38 Canada: Healthcare Quality Management Market Size, by Software Type, 2017-2024 ($ Million)
Table 39 Canada: Healthcare Quality Management Market Size, by Mode of Delivery, 2017-2024 ($ Million)
Table 40 Canada: Healthcare Quality Management Market Size, by Application, 2017-2024 ($ Million)
Table 41 Canada: Data Management Market Size, by Type, 2017-2024 ($ Million)
Table 42 Canada: Healthcare Quality Management Market Size, by End User, 2017-2024 ($ Million)
Table 43 Number of Developments by the Major Players during 2015-2018
Table 44 Partnerships, Agreements, and Strategic Alliances & Collaboration
Table 45 New Product Launches & Upgradations
Table 46 Mergers & Acquisitions
Table 47 Expansion
List of Figures
Figure 1 Research Process
Figure 2 Key Executives Interviewed
Figure 3 Primary Research Techniques
Figure 4 Key Adopters
Figure 5 Key Opportunities
Figure 6 Scope of Healthcare Quality Management Market
Figure 7 North America Healthcare Quality Management Market, by Type of Software
Figure 8 North America Healthcare Quality Management Market, by Mode of Delivery
Figure 9 North America Healthcare Quality Management Market, by Application
Figure 10 North America Healthcare Quality Management Market, by End User
Figure 11 North America Healthcare Quality Management Market, by Geography
Figure 12 North America Healthcare Quality Management Market: Competitive Landscape
Figure 13 Market Dynamics
Figure 14 Percentage Distribution of Population Aged 65 and Over, by Region, 2015-2050
Figure 15 Increasing Number of People with Chronic Conditions
Figure 16 North America Healthcare Quality Management Market Size, by Software Type, 2018-2024 ($ Million)
Figure 17 North America Healthcare Quality Management Market Size, by Mode of Delivery, 2018-2024 ($ Million)
Figure 18 North America Healthcare Quality Management Market Size, by Application, 2018-2024 ($ Million)
Figure 19 North America Healthcare Quality Management Market Size, by End User, 2018-2024 ($ Million)
Figure 20 North America Healthcare Quality Management Market Size, by Country, 2018-2024 ($ Million)
Figure 21 North America Healthcare Quality Management Market Size, by Country, 2018-2024 ($ Million)
Figure 22 Health Spending Per Capita And As Share of GDP, 2017
Figure 23 Life Expectancy at Birth in the U.S.
Figure 24 Total Health Expenditure, by Source of Finance in Canada, 2015 ($Billion)
Figure 25 Growth Strategies Adopted by Key Players, 2015-2018
Figure 26 Partnerships, Agreements, Strategic Alliances & Collaborations, by Leading Players, 2015-2018
Figure 27 New Product Launches & Upgradations by Leading Players, 2015-2018
Figure 28 Mergers & Acquisitions, by Leading Players, 2015-2018
Figure 29 Expansion, by Leading Players, 2015-2018
Figure 30 3M Company: Financial Overview (2015-2017)
Figure 31 Cognizant Technology Solutions Corporation: Financial Overview (2015-2017)
Figure 32 Conduent, Inc.: Financial Overview (2015-2017)
Figure 33 General Dynamics Health Solutions: Financial Overview (2015-2017)
Figure 34 Mckesson Corporation: Financial Overview (2016-2018)
Figure 35 Nuance Communications, Inc.: Financial Overview (2015-2017)
Figure 36 IBM Corporation: Financial Overview (2015-2017)
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