Healthcare Quality Management Market - Growth, Trends, and Forecast (2019 - 2024)

The Market is Segmented by Software Type, Mode of Delivery, Application, End User, and Geography

Market Snapshot

Picture1 Healthcare Quality Management
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

12.5 %

Key Players:

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Market Overview

Due to the rise in the aging population across the world, and increased healthcare costs, quality management has become an essential part of healthcare systems. As the latest technologies are evolving, the cost of the healthcare services is increasing and this is affecting the performance of healthcare providers in the developing or underdeveloped nations. To obtain the standard level of quality, the governments in various nations are taking efforts, across the world. As per the National Institute of Health, the government of the Netherlands implemented comprehensive health reforms to monitor the quality of care in the country. This reform is helping the country in the establishment of better healthcare services. Such mandates of government are helping in the growth of the healthcare quality management market, across the world. Along with that, other factors, such as the increasing amount of unstructured data in healthcare and rising healthcare costs and medical errors, are driving the healthcare quality management market. However, higher costs of quality reporting systems and data security issues associated with the quality management software are the other factors that are hindering the growth of the market.

Scope of the Report

Quality management in healthcare seeks to improve the effectiveness of treatments and increase patient satisfaction with the service. With the aging population and rising health care costs, quality management in health care is gaining increased attention. A health care system comprises small and large entities, such as pharmacies, medical clinics, and hospitals, and all components needed to provide quality service for the system to work properly.

Software Type
Business Intelligence and Analytics Solutions
Physician Quality Reporting Solutions
Clinical Risk Management Solutions
Provider Performance Improvement Solutions
Mode of Delivery
Web-based Solutions
Cloud-based Solutions
On-premise Solutions
Application
Data Management
Risk Management
End User
Hospitals
Ambulatory Care Centers
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Business Intelligence and Analytics Solutions Segment Holds Significant Market Share

Quality management in healthcare is heavily influenced by Business Intelligence, as healthcare data is becoming increasingly complex every day. This major concern of healthcare providers is solved with the help of business intelligence, as it deals with a huge amount of data and makes it easier for the providers to manage such data. Business intelligence (BI) is helping the healthcare industry in gaining insights, reducing costs, increasing revenue, and improving patient safety. BI can also help in the improvement of patient care and patient outcomes, by providing evidence-based clinical decision-making. This helps physicians in monitoring and predicting the diagnosis for patients. Owing to the ongoing development, quality of the healthcare sector is being influenced by evidence-based medicines and appropriate use of the data. However, factors, such as high cost of software and lack of skilled professionals to handle the BI tools, may restrain the growth of this segment.

Picture Healthcare Quality Management Market

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North America Holds the Largest Share in the Healthcare Quality Management Market

North America accounts for the largest share of the market studied. This can be primarily attributed to better reimbursement facilities provided and involvement of government in the implementation of quality management services, which are expected to augment the growth of the market studied over the forecast period. The increased focus on the quality of healthcare services in the United States is due to the Patient Protection and Accountable Care Act (PPACA), which was signed in 2010. This law contains the parameters that are designed to modify the way care is delivered to the Medicare and Medicaid patients and a central objective of improving the quality of the overall healthcare system in the region. The region is observing success in quality management, owing to the presence of physician leadership, infrastructural support, and improvement in the technological aspects of healthcare in the region. Thus, implementation of the PPACA law is helping the nation in healthcare quality management.

Picture2 Healthcare Quality Management

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Competitive Landscape

Market players are continuously focusing on acquisitions and mergers, provisions of solutions, which are customized, and expansion of companies in untapped commercial markets. Moreover, companies are also investing huge amounts on developing new products and platforms with enhanced and improved features as a part of a commercialization strategy. For instance, In April 2019: Vizient Inc. entered into an agreement with Medisolv Inc. for its ENCOR Quality Management Platform. In July 2018, Cerner and Lumeris partnered to reduce complexities for health systems delivering value-based care.

Major Players

  1. Cerner Corp.
  2. McKesson Corp.
  3. Medisolv Inc.
  4. Surescripts LLC
  5. Truven Health Analytics Inc. (IBM Watson Health)

* Complete list of players covered available in the table of contents below

Picture3 Healthcare Quality Management

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Government Mandates for the Healthcare Systems to Improve the Quality and Performance of the Healthcare Providers

      2. 4.2.2 Increasing Amount of Unstructured Data in Healthcare

      3. 4.2.3 Rising Healthcare Costs and Medical Errors

    3. 4.3 Market Restraints

      1. 4.3.1 Cost Associated with the Implementation of the Quality Reporting Systems

      2. 4.3.2 Data Security Issues Associated with the Quality Management Software

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Software Type

      1. 5.1.1 Business Intelligence and Analytics Solutions

      2. 5.1.2 Physician Quality Reporting Solutions

      3. 5.1.3 Clinical Risk Management Solutions

      4. 5.1.4 Provider Performance Improvement Solutions

    2. 5.2 Mode of Delivery

      1. 5.2.1 Web-based Solutions

      2. 5.2.2 Cloud-based Solutions

      3. 5.2.3 On-premise Solutions

    3. 5.3 Application

      1. 5.3.1 Data Management

      2. 5.3.2 Risk Management

    4. 5.4 End User

      1. 5.4.1 Hospitals

      2. 5.4.2 Ambulatory Care Centers

      3. 5.4.3 Other End Users

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia-Pacific

      4. 5.5.4 Middle East & Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle East & Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Cerner Corp.

      2. 6.1.2 Change Healthcare

      3. 6.1.3 CitiusTech Inc.

      4. 6.1.4 Dolbey Systems Inc.

      5. 6.1.5 McKesson Corp.

      6. 6.1.6 Medisolv Inc.

      7. 6.1.7 Nuance Communications Inc.

      8. 6.1.8 Premier Inc.

      9. 6.1.9 Quantros Inc.

      10. 6.1.10 Surescripts LLC

      11. 6.1.11 Truven Health Analytics Inc. (IBM Watson Health)

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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