Patient Referral Management Software Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.62 Billion |
| Market Size (2029) | USD 12.01 Billion |
| CAGR (2024 - 2029) | 9.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Patient Referral Management Software Market Analysis
The Patient Referral Management Software Market size is estimated at USD 7.62 billion in 2024, and is expected to reach USD 12.01 billion by 2029, at a CAGR of 9.52% during the forecast period (2024-2029).
Patient referral management software helps streamline the referral process, reducing manual tasks and paperwork. Effective patient referral software enhances care coordination by facilitating seamless communication among healthcare providers. It ensures patients receive appropriate care and follow-up, leading to better health outcomes. This is a significant factor driving the patient referral management software market. For instance, a study published in BMC Medical Informatics and Decision Making in October 2024, based on data from semi-structured interviews, revealed that the electronic patient referral system at Mashhad University of Medical Sciences effectively addressed the needs of all stakeholders.
Additionally, Several healthcare providers are turning to referral management solutions to enhance their daily operations, a trend propelling market growth during the forecast period. In a recent development in August 2024, Novari Health proudly unveiled the success of its Novari eRequest referral management and waitlist technology. This technology has played a pivotal role in aiding a prominent Australian health network to centralize operations and boost organizational efficiency. Specifically, the software is streamlining the endoscopy program at the Central Adelaide Local Health Network (CALHN), ensuring timely and appropriate patient care.
Therefore, the implementation of electronic patient referral systems and the increasing adoption of referral management processes in healthcare are poised to propel the growth of the patient management referral software market during the forecast period.
Patient Referral Management Software Market Trends
Healthcare Provider Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Healthcare providers like hospitals and clinics frequently handle patients needing specialized care, often referring them to various departments or external specialists. Patient referral management software streamlines this process, enabling hospitals to efficiently manage referrals and ensure patients receive timely, appropriate care. Consequently, this trend is poised to propel the segment's growth in the patient referral management software market during the forecast period.
Additionally, Healthcare Networking initiatives and IT R&D investments promote enhanced care coordination among healthcare providers. Patient referral management software is crucial in facilitating communication and collaboration between hospitals, clinics, and referring physicians. By providing secure messaging, alerts, and notifications, these software solutions enable seamless information sharing and coordination of patient care across different healthcare settings, which is also a factor driving the segment's growth during the forecast period.
Furthermore, strategic collaborations between software developers and healthcare providers are poised to drive segment growth during the forecast period. These partnerships aim to create products tailored to the comprehensive needs of patient referral management. For example, in October 2024, Netsmart Technologies unveiled a closed-loop data exchange referral system in collaboration with Epic Systems and MedAllies. This system was launched in partnership with LifeWorks NorthWest, a behavioral health provider based in the United States. This collaboration enhances the sharing of behavioral health and primary care information, aligning with the Federally Qualified Health Center model.
Moreover, the rising adoption of automation features streamlines referral workflows, reduces manual tasks, minimizes errors, and improves efficiency in managing patient referrals by healthcare providers. This is also anticipated to drive the segment growth during the forecast period. For instance, in September 2024, Dock Health, Inc. unveiled its workforce optimization software on the Mayo Clinic Platform. The software helps healthcare providers with referral management, reducing leakage, new patient onboarding and length of stay issues, and discharge planning.
Therefore, the introduction of software in partnership with healthcare providers, coupled with these providers' increasing adoption of digital platforms, is poised to drive segment growth during the forecast period.
North America Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The North American patient referral management software 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 preference for adopting digital health services 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 quickly 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.
Additionally, in June 2024, Intiveo, a Canada-based software company, unveiled a two-way referral management solution tailored for dental practices. This innovative tool enables dental professionals to seamlessly send and receive patient referrals directly through their software. The tool is designed to streamline and enhance the referral process with features like secure communication, patient tracking, and integrated management. Hence, such strategic activities are expected to drive the studied market during the forecast period.
Therefore, the increasing adoption of digital solutions, rising strategic activities, such as collaboration to increase the accessibility and affordability of patient referral management solutions, and product launches are driving the studied market during the forecast period.
Patient Referral Management Software Industry Overview
The patient referral management software market is moderately competitive and consists of a few major players, leading to a moderately consolidated market. Companies like Athena Health, Dock Health, Inc., Novari Health, Optum, Inc., and Treatspace, among others, hold substantial market shares in this market.
New product developments, acquisitions, collaborations, and regional expansions are some of the key strategic initiatives undertaken by major players to maintain stability in the market.
Patient Referral Management Software Market Leaders
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Athena Health
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Dock Health, Inc.
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Novari Health
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Optum, Inc.
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Treatspace
*Disclaimer: Major Players sorted in no particular order
Patient Referral Management Software Market News
- March 2024: Artera, a healthcare technology firm, unveiled Artera Referrals, a solution designed to assist providers grappling with referral leakage and management challenges. This innovative tool empowers healthcare providers to enhance patient communication. Key features include automated referral outreach, real-time appointment responses, self-scheduling capabilities, and pre-visit communications, ensuring both patients and staff are well-prepared for appointments.
- October 2023: WellSky launched its WellSky Enterprise Referral Manager. This innovative software solution revolutionizes referral, intake, and customer relationship management (CRM) procedures for home health, hospice, and other home-based care agencies.
Patient Referral Management Software 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 Data Privacy and Security Concerns
4.4 Porter's Five Force 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 Deployment Mode
5.2.1 Cloud & Web-Based
5.2.2 On-Premise
5.3 By End-User
5.3.1 Healthcare Providers
5.3.2 Payers
5.3.3 Other End-Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Athena Health
6.1.2 Consultmed
6.1.3 Dock Health, Inc.
6.1.4 GRM Information Management Services, Inc.
6.1.5 HealthViewX
6.1.6 Kyruus, Inc.
6.1.7 Novari Health
6.1.8 Optum, Inc.
6.1.9 Treatspace
6.1.10 Trella Health
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Patient Referral Management Software Industry Segmentation
As per the report's scope, patient referral management software refers to a specialized digital tool designed to streamline and optimize the process of referring patients between healthcare providers, such as primary care physicians, specialists, hospitals, clinics, and other healthcare facilities. This software facilitates the efficient and effective transfer of patient information, medical records, and treatment plans from one healthcare provider to another, ensuring patient care coordination and continuity.
The patient referral management software market is segmented by type, deployment mode, end-user, and geography. By type, the market is segmented into inbound and outbound. In terms of deployment mode, the market is segmented into cloud & web-based, and on-premise. By end-user, the market is segmented into healthcare providers, payers, and other end-users. The market is segmented by geography into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the segments mentioned above.
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| Inbound | |
| Outbound |
| By Deployment Mode | |
| Cloud & Web-Based | |
| On-Premise |
| By End-User | |
| Healthcare Providers | |
| Payers | |
| Other End-Users |
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Patient Referral Management Software Market Research FAQs
How big is the Patient Referral Management Software Market?
The Patient Referral Management Software Market size is expected to reach USD 7.62 billion in 2024 and grow at a CAGR of 9.52% to reach USD 12.01 billion by 2029.
What is the current Patient Referral Management Software Market size?
In 2024, the Patient Referral Management Software Market size is expected to reach USD 7.62 billion.
Who are the key players in Patient Referral Management Software Market?
Athena Health, Dock Health, Inc., Novari Health, Optum, Inc. and Treatspace are the major companies operating in the Patient Referral Management Software Market.
Which is the fastest growing region in Patient Referral Management Software 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 Software Market?
In 2024, the North America accounts for the largest market share in Patient Referral Management Software Market.
What years does this Patient Referral Management Software Market cover, and what was the market size in 2023?
In 2023, the Patient Referral Management Software Market size was estimated at USD 6.89 billion. The report covers the Patient Referral Management Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Patient Referral Management Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Patient Referral Management Software Industry Report
Statistics for the 2024 Patient Referral Management Software market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Patient Referral Management Software 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.
