The Global Medical Case Management Services Market is likely to tread a growth path in the upcoming years. Medical case management services provide a host of advantages, of which reduced healthcare costs for patients are a prominent one. Medical case management services encompass a range of client-oriented services that link clients with healthcare systems, psychosocial support, reimbursement providers, and other services. Coordination and follow-ups with medical treatment are vital components of medical case management services.
Majorly fuelling the medical case management services market are rising healthcare expenditures and medical costs control programs and improved quality of care. Worldwide, private and public healthcare expenditure is escalating with the growing population and prevalence of a host of diseases. Also, changing lifestyles account for up in demand for advanced healthcare products and services. Therefore, the adoption of medical case management services is on the rise.
Medical case management services help to avoid unnecessary physician visits, hospital admissions, and medical complications by informed patient care and consistent monitoring of patient health. Not only this, fees incurred for medical case management services are also partially reimbursed by insurance providers. Considering the myriad advantages of medical case management services, the global medical case management services market is predicted to clock a CAGR of 3.04% for the forecast period between 2019 and 2027.
Increasing Burden on Healthcare Systems to Benefit the Market
The healthcare industry is seeking reliable technologies for modern patient care. Medical case management services are an important component of the healthcare industry, which is driving demand for more advanced healthcare products and services. At present, the exponential growth of the world population is burdening healthcare resources and healthcare systems. The excessive burden on healthcare systems accounts for some kind of error or unintended drug side effects.
The increasing prevalence of chronic diseases such as heart disease, cancer, stroke, and obesity is also a key factor behind the growth of the medical case management services market.
This is because the adoption of medical case management services especially in developed regions enables access to the most appropriate care. In addition, improvement in employment benefits, especially in developed countries is stoking demand for medical case management services to assure appropriate treatment in the event of workplace injuries.
Lack of Awareness in Developing Countries to Crimp Market Growth
On the flip side, lack of awareness is a key factor challenging the growth of medical case management services market. As most vendors offering medical case management services are focused on developed regions, people in developing countries have very little awareness about these services. The dearth of professionals for medical case management services is also a hindrance to the growth of this market. Currently, around 50% of medical case managers handle more than 100 cases each in a month.
Apart from this, the high costs of medical case management are proving to be a bottleneck to the growth of the medical case management services market. The low percentage of the population having medical insurance in developing countries is limiting the demand for medical case management services in these regions.
Among the various segments based on the mode of service, web-based case management service holds prominence in this market. The hospital end-use segment is anticipated to continue to hold the leading market share over the forecast period.
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