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Value-based care is a payment model that rewards providers for providing high-quality care at lower costs.
WILMINGTON, DELAWARE, UNITED STATES, November 7, 2023 /EINPresswire.com/ — It demonstrates a significant bend in the cost curve as payers discover a positive impact of value-based care on scaling up payment models for patient care. Furthermore, value-based care payment models reduces costs while improving healthcare quality and outcomes. In value-based care models, healthcare providers are paid based on the outcomes of their patients' care.
According to the health payer intelligence survey 2018, nearly 80% of payers reported improvements in care quality from providers as a result of obtaining value-based settlements. Furthermore, 64% of payers reported improved provider relationships and 73% reported improved patient engagement with beneficiaries as a result of using value-based care. Thus, the adoption of value-based care and changing healthcare operations are expected to expand the market growth during the forecast period.
The global Value Based Care Payment market is segmented on the basis of Model, Deployment, End User, and Region. Based on Model, the market is divided into Accountable Care Organization (ACO), Bundled Payments, Patient-Centered Medical Home (PCMH), Pay for Performance (P4P), and Others), Deployment (Cloud Based and On-Premise. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
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COVID-19 scenario analysis
In 2020, the global pandemic had a negative impact on enterprise transportation management system hardware demand. Manufacturing plants are being shut down or run at a reduced capacity, resulting in lower output. The supply chain and logistics have been disrupted as a result of this. In addition. the use of e-payment solutions has risen as a result of this.
The increase in COVID-19 cases has been a major setback for the transportation & manufacturing industry. The industry has suffered a significant decline as a result of most governments enforcing isolation practices. Governments have taken a number of steps to meet the challenges by providing subsidies and free checkups
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Rapid development in value-based health care services
Rapid development of value-based healthcare services is expected to contribute to the market's tremendous growth. Attributed to value-based healthcare services, the healthcare cost curve and unnecessary health expenditure have been reduced by nearly 5.6% on average. According to UnitedHealth Group, a health insurance company based in the U.S., value-based payments to healthcare providers increased by more than 15% in 2019, providing incentives to provide high-quality care while improving the efficient use of healthcare resources.
Lack of healthcare infrastructure
The absence of a healthcare infrastructure is expected to stifle the growth of the value-based care payment market. The main cause of this scarcity is organizations' unwillingness to take technological risks. According to a survey, for instance, a large portion of organizations have yet to embrace artificial intelligence (AI) to accelerate value-based care. Approximately 43% of healthcare organizations are unsure about implementing AI, and another 21% are unprepared for any AI-related innovation. Furthermore, only 13% are prepared for AI and have a plan in place, owing to lack of trained staff with data analytics knowledge.
Key benefits of the report:
This study presents analytical depiction of the value based care payment market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
The current market is quantitatively analyzed to highlight the value based care payment market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on the present and future competitive intensity of the market.
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Value Based Care Payment Market Report Highlights
By Model
Accountable Care Organization (ACO)
Bundled Payments
Patient-Centered Medical Home (PCMH)
Pay for Performance (P4P)
Others
By Deployment
Cloud Based
On-Premise
By End User
Providers
Payer
By Region
North America (U.S., Canada)
Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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