The assimilation of wellness platforms that enrich the overall patient and caregiver experience will greatly augment the value of PHM solutions
SINGAPORE, July 26, 2018 /PRNewswire/ — The Asia-Pacific’s transition from volume- to value-based care model has been highly challenging due to the need for large-scale regulatory changes and lack of a funding model. However, the rising healthcare consumerism, digital health adoption, and the growing influence of medical tourism are setting a foundation for population health management (PHM), one form of value-based care that shifts the industry focus from episodic, individualized healthcare approaches to collective action against the cost and burden of disease in a society. Frost & Sullivan forecasts that the PHM solutions market is expected to reach US$600 million in the Asia-Pacific region by 2022 at a Compound Annual Growth Rate (CAGR) of 17.5%.
For further information on this analysis, please visit: http://frost.ly/2mv
PHM solutions enable seamless information exchange and medical intervention at various points of care with the goal of improving the overall health or the state of a specific disease within a designated group of people. In addition, these solutions highlight care improvement opportunities, manage delivery through care coordination and patient engagement, benchmark care provider’s performance, and mitigate financial risks of diseases.
Frost & Sullivan’s recent analysis, Growth Opportunities in the Asia-Pacific Population Health Management Solutions Market, Forecast to 2022, highlights some of the growth areas that market players can invest in to capitalize this nascent market. In addition, it categorizes PHM solutions into modules that assist with advisory, data & analysis, care management, and performance management. The study covers the markets of India, China, Southeast Asia, Japan, South Korea, and Australia.
”As they do not have a large installed base of telehealth solutions, Asia-Pacific countries have the opportunity to do away with the implementation of PHM solutions that employ siloed electronic medical/health records (EMR/EHR). Instead, they can skip straight ahead to deploying PHM solutions based on diverse data sources, including wearables, home monitoring devices, and non-healthcare data," said Shalani Andria, Transformational Health Industry Analyst, Frost & Sullivan."EMR/EHRs, and health information exchanges (HIEs) solutions are already moving to the cloud for enhanced interoperability, and data storage and management, setting a foundation for PHM market to further progress in this region."
One of the hot target markets for PHM solutions is the payer segment. Payers are seeing the necessity and benefits of proactive, risk-stratified intervention in patient care and management, and are interested in PHM solutions as it is able to reduce the cost of care and improve efficiency. Therefore, vendors are primarily targeting such stakeholders in the region.
To leverage growth opportunities, market players will have to:
Channelize healthcare resources towards population segments that are in severe need of services, while enabling people with lower health risk to actively manage their own health at progressively lower medical intervention costs and reduce hospital visits. DXC Technology, Milliman Healthcare and ApolloMed are early movers;
Partner with the government. Regional governments are keen to analyze captured data to boost healthcare quality and access. They are looking for secure, interoperable, and customizable PHM solutions.
Seek public-private alliances. They will continue to play a major role in educating the market about PHM and its benefits; and
Focus on the growing demand amongst clinicians for mobile-enabled access to patient and population health information and analytics, especially in Singapore and Australia.
"Governments in APAC will continue to play a major role in educating the market about PHM and its benefits. Vendors will continue to seek public private partnership models to ease market entry and to create strong brand awareness in the local market," added Andria.
Growth Opportunities in the Asia-Pacific Population Health Management Solutions Market, Forecast to 2022 is part of Frost & Sullivan’s global Connected Health Growth Partnership Service program.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Growth Opportunities in the Asia-Pacific Population Health Management Solutions Market, Forecast to 2022P9A9-48
Melissa TanCorporate Communications – Asia PacificP: +65 6890 0926F: +65 6890 0999E: firstname.lastname@example.org
http://ww2.frost.comRelated Links :http://www.frost.com