Patient Referral Management Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.10 Billion |
| Market Size (2029) | USD 24.25 Billion |
| CAGR (2024 - 2029) | 16.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Patient Referral Management Market Analysis
The Patient Referral Management Market size is estimated at USD 11.10 billion in 2024, and is expected to reach USD 24.25 billion by 2029, growing at a CAGR of 16.91% during the forecast period (2024-2029).
Major factors driving the patient referral management market are the rising research and development activities for new software launches, rising government initiatives to incorporate IT solutions in the healthcare system, and increasing adoption of patient management solutions to optimize patient medical data.
Increasing strategic activities, such as the launch of new patient referral management software and acquisitions, are expected to increase the accessibility of this software and drive the studied market during the forecast period. For instance, in June 2022, Athena Health, a leading player in healthcare IT software, launched a voice-automated and mobile-integrated digital assistant software that speeds up referral information retrieval and allows doctors to use Athena Health’s electronic health records (EHR) solution to optimize the patient inflow data. This system helps clinicians to spend less time on the computer and focus more on patients by utilizing voice recognition capabilities. Thus, new software launches by key market players are expected to drive the patient referral management market.
Similarly, in October 2023, WellSky, a health and community care technology company, reported the launch of WellSky Enterprise Referral Manager, a software solution for referral, intake, and customer relationship management (CRM) processes for home health, hospice, and other home-based care agencies. The solution centralizes referral-related activities between staff members, allowing agencies to streamline and consolidate workflows, expand referral relationships, and accelerate the start of care for patients. Hence, the launch of such software is expected to increase the accessibility of patient referral management software and drive the studied market during the forecast period.
Moreover, rising government initiatives to incorporate IT solutions in healthcare systems are expected to accelerate the market's growth. Patient referral management solution enables healthcare teams to create, track, and manage referrals seamlessly, which reduces errors and improves patient outcomes. Hence, several governments have taken action to improve healthcare infrastructure by introducing digital solutions like patient referral management. For instance, in India, the government of Karnataka launched an online referral system under Ayushman Bharat-Arogya in June 2022. The program is likely to help increase the demand for patient referral management solutions and improve patient healthcare needs at minimum costs. Hence, the collective efforts of governments are expected to boost the market.
Hence, the increasing strategic activities, such as the launch of new patient referral management solutions and growing government initiatives to improve the adoption of patient referral management software, are expected to drive the studied market during the forecast period. However, the scarcity of professionals to manage systems like patient referral management software is likely to restrain the growth of the patient referral management market.
Patient Referral Management Market Trends
The Inbound Segment is Expected to Hold a Significant Share in the Market During the Forecast Period
Inbound referrals can be defined as referrals that are received in a practice. The inbound referrals in a hospital are received from different sources, such as emails, faxes, walk-ins, and phones, and patient referral management systems can optimize these. For instance, Referral MD solutions provide features such as patient engagement tools, incoming referrals, and direct patient scheduling, which effectively reduce the processing time of patients and help other analytical tools to provide patient’s historical data, which can be further used to re-target the patients, improving their satisfaction, and inviting new clients.
The major factors driving the inbound segment's growth are the increasing digitalization of healthcare and the rising strategic activities such as the launch of new inbound patient referral management solutions.
The growing digitalization of the healthcare system is expected to increase the adoption of inbound patient referral management software in hospitals, which is expected to drive the studied market during the forecast period. For instance, in February 2022, the Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), awarded nearly USD 55 million to 29 HRSA-funded health centers to increase healthcare access and quality for underserved populations through virtual care such as telehealth, remote patient monitoring, digital patient tools, and health information technology platforms. Hence, such investments by governments increase the adoption of digital software such as patient referral management solutions and drive the segment's revenue during the forecast period.
Furthermore, the increasing strategic activities, such as the launch of new inbound software solutions, are expected to drive the studied market during the forecast period. For instance, Intiveo is a two-way inbound referral management solution designed to empower dental practices and enhance patient experience. This solution allows dental offices to send and receive patient referrals directly. Hence, the launch of such solutions is also expected to drive the segment's growth during the forecast period.
Moreover, building a trustworthy inbound patient referral management network is a good strategy to attract new patients in addition to advertising and networking with insurance policy-providing companies. Patients referred by primary care to secondary care are more feasible and profitable than normal patients, which led to the digitalization of inbound patient referral management. For example, Village Health Partners (VHP), a provider of healthcare tools specializing in primary care physician services, utilized patient referral software offered by BlockitNow, Inc. to improve patient interactions with healthcare providers. Hence, the adoption of inbound patient referral management is also expected to drive the studied market during the forecast period.
Therefore, the rising digitalization of healthcare, growing strategic activities such as the launch of new inbound patient referral management solutions, and rising adoption of patient referral technologies are expected to drive the studied segment growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
The North American patient referral management market is expected to grow owing to factors such as rising technological advancements in healthcare IT, the increasing adoption of digital healthcare, and the growing elderly population in the developed world.
The increasing adoption of digital healthcare solutions increases the utilization of patient referral management systems, which further drives the studied market during the forecast period. For instance, according to the Canadian Digital Health Survey of April 2024, the online survey conducted in November 2022 with 12,445 Canadians across all provinces and territories showed that 94% of Canadians were interested in accessing digital health services. Hence, the rising digitalization of healthcare in the country is expected to drive the studied market during the forecast period.
Furthermore, strategic activities, such as partnerships and collaborations, are expected to increase the affordability and accessibility of patient referral management software, which will ultimately drive the studied market during the forecast period.
For instance, in June 2022, Think Research Corporation, a Canada-based digital healthcare software solutions provider, partnered with Caredove to expand its Ontario eReferral Program. This partnership enables primary care providers to easily find the best service option based on eligibility, availability, and proximity to their patient, send a referral, and optionally book available intake appointments with the relevant staff member at each community-based organization. Similarly, in May 2022, ReferWell SM, a healthcare tech company, reported the partnership with NexHealth, the Patient Experience Platform for doctors and developers. The collaboration helps physicians in the United States to schedule patient referral appointments at the point of care and increase show rates at these specialist visits. Hence, such strategic activities are expected to drive the studied market during the forecast period.
Therefore, increasing adoption of digital solutions and rising strategic activities, such as collaboration to increase the accessibility and affordability of patient referral management solutions, are driving the studied market during the forecast period.
Patient Referral Management Industry Overview
The patient referral management market is fragmented and competitive due to the presence of many players. The market's major players are concentrating on joint ventures, strategic alliances, the introduction of new software launches, and geographic growth into developing and economically advantageous areas. Some of the major players include Allscripts Healthcare LLC, Kyruus, McKesson Corporation, Conifer Health Solutions LLC, Netsmart Technologies Inc., UnitedHealth Group, Eceptionist, Oracle, WellSky, eHealth Technologies, Clinicient, EZ Referral, Persistent Systems, and Medcohere Inc.
Patient Referral Management Market Leaders
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Allscripts Healthcare Solutions, Inc
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Eceptionist, Inc.
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Netsmart Technologies, Inc.
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WellSky
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Oracle
*Disclaimer: Major Players sorted in no particular order
Patient Referral Management Market News
- March 2024: Artera, a healthcare tech company, launched Artera Referrals, which aids providers struggling with referral leakage and management. This solution helps healthcare providers deliver timely patient communications with automated referral outreach, real-time responses to receive, respond, and self-schedule appointments, and automated pre-visit communications to ensure patients and staff are prepared for the appointment.
- July 2023: AristaMD, a US-based company that provides e-consult, or online medical consultation and referral management services, launched an Enhanced Platform for patient-to-provider. This platform supports primary care practices with end-to-end referrals and enhances the speed and delivery of patient care.
Patient Referral Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Research and Development Activities for New Software Launches
4.2.2 Rising Government Initiatives to Incorporate IT Solutions in Healthcare Systems
4.3 Market Restraints
4.3.1 Scarcity of Professionals to Manage the Systems
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Type
5.1.1 Inbound
5.1.2 Outbound
5.2 By Component
5.2.1 Service
5.2.2 Software
5.3 By Delivery Mode
5.3.1 On-premises Delivery Mode
5.3.2 Web and Cloud-based Delivery Mode
5.4 By End Users
5.4.1 Healthcare Providers
5.4.2 Payers
5.4.3 Patients
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Spain
5.5.2.6 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 South Korea
5.5.3.6 Rest of Asia-Pacific
5.5.4 Middle East and Africa
5.5.4.1 GCC
5.5.4.2 South Africa
5.5.4.3 Rest of Middle East and Africa
5.5.5 South America
5.5.5.1 Brazil
5.5.5.2 Argentina
5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allscripts Healthcare LLC
6.1.2 Kyruus
6.1.3 McKesson Corporation
6.1.4 Conifer Health Solutions LLC
6.1.5 Netsmart Technologies Inc.
6.1.6 UnitedHealth Group
6.1.7 Eceptionist
6.1.8 Oracle
6.1.9 WellSky
6.1.10 eHealth Technologies
6.1.11 Clinicient
6.1.12 EZ Referral
6.1.13 Persistent Systems
6.1.13.1 Medcohere Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Patient Referral Management Industry Segmentation
As per the scope of the report, patient referral management refers to those systems that synchronize patient data transmission from one physician to another and the patient. A referral management system aims to facilitate good communication between the consultant, specialist, the healthcare providers, and the patient.
The patient referral management market is segmented into type, delivery mode, component, end user, and geography. By type, the market is segmented into inbound and outbound. By delivery mode, the market is segmented into on-premises delivery mode and web and cloud-based delivery mode. By component, the market is segmented into service and software. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers values (USD) for the above segments.
| By Type | |
| Inbound | |
| Outbound |
| By Component | |
| Service | |
| Software |
| By Delivery Mode | |
| On-premises Delivery Mode | |
| Web and Cloud-based Delivery Mode |
| By End Users | |
| Healthcare Providers | |
| Payers | |
| Patients |
| Geography | ||||||||
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Patient Referral Management Market Research FAQs
How big is the Patient Referral Management Market?
The Patient Referral Management Market size is expected to reach USD 11.10 billion in 2024 and grow at a CAGR of 16.91% to reach USD 24.25 billion by 2029.
What is the current Patient Referral Management Market size?
In 2024, the Patient Referral Management Market size is expected to reach USD 11.10 billion.
Who are the key players in Patient Referral Management Market?
Allscripts Healthcare Solutions, Inc, Eceptionist, Inc., Netsmart Technologies, Inc., WellSky and Oracle are the major companies operating in the Patient Referral Management Market.
Which is the fastest growing region in Patient Referral Management Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Patient Referral Management Market?
In 2024, the North America accounts for the largest market share in Patient Referral Management Market.
What years does this Patient Referral Management Market cover, and what was the market size in 2023?
In 2023, the Patient Referral Management Market size was estimated at USD 9.22 billion. The report covers the Patient Referral Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Patient Referral Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Patient Referral Management Industry Report
Statistics for the 2024 Patient Referral Management market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Patient Referral Management analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
