The North America Referral Management Market would witness market growth of 12.1% CAGR during the forecast period (2022-2028).
Health systems can decrease patient leakage, enhance care coordination, and match patients with the care they require by adopting a proactive referral management strategy. Additionally, referral management software offers health systems insight into referral patterns that help them optimize provider networks for greater patient access, resulting in shorter wait times for patients, better utilization of network, and better patient care. The apt flow that the referral management provides also helps in maintaining an optimal patient count. It also prevents wrong referrals and takes care of time optimization.
In the healthcare sector, maintaining an accurate health care provider list that is also useful has long been a concern. Although it itself is an issue that many businesses encounter as they work to handle numerous sources of conflicting information, it is not as straightforward as the accuracy of a provider's name and location. A healthcare provider database must show which offices the provider practices in, what insurance plans the provider accepts at which offices, whether the provider is accepting new patients, and other information in order to maintain correct data.
The North America region has strong healthcare systems in the world. Given the rise in the number of patients in this region, the promotion of better technological adoption is a favorable approach for governments. The United States spends more than any other country on health care services. On average, it spends twice more per person than the other Organization for Economic Co-operation and Development (OECD) nations. These expenses suit to fit as in the US, 6 out of 10 adults have a chronic illness. And about 40 percent of them have multimorbidity.
The US market dominated the North America Referral Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,739.7 million by 2028. The Canada market is poised to grow at a CAGR of 14.7% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 13.7% during (2022 - 2028).
Based on Type, the market is segmented into Inbound Referrals and Outbound Referrals. Based on Component, the market is segmented into Software and Services. Based on Mode of Delivery, the market is segmented into Cloud-based and On-premise. Based on End User, the market is segmented into Providers, Payers, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Referral Management Market is Estimated to reach $6.4 Billion by 2028, at a CAGR of 12.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GetWellNetwork, Inc., Epic Systems Corporation, Oracle Corporation (Cerner Corporation), CarePort Health (WellSky Corporation), eHealth Technologies, Inc., UnitedHealth Group, Inc. (Optum, Inc.), Persistent Systems Limited, Cloudmed (R1 RCM, Inc.), EcoSoft Health, and ReferWell.
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