#U.S. Primary Care Physicians Market Revenue Value
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U.S. Primary Care Physicians Market Provide Accessible And Integrated Services To A Large Population
The U.S. primary care physicians market size is expected to reach USD 341.9 billion by 2030, based on a new report by Grand View Research, Inc. The market is projected to exhibit a CAGR of 3.2% from 2022 to 2030. An increasing number of Medicare beneficiaries in the country is expected to create high demand for Primary Care Physicians (PCP). According to a CDC survey in 2019, around 51.2% of physician office visits were made for primary care services.
According to the 2019 Patient-Centered Primary Care Collaborative’s (PCPCC) evidence report, there is a significant gap in investment in improving primary care services in the U.S. One of the main concerns is the growing shortage of primary care doctors and allied healthcare professionals. In a report published on the complexities of physician demand and supply in June 2020, the Association of American Medical Colleges (AAMC) estimated a deficit between 21,400 and 55,200 primary care physicians by 2033. Furthermore, there is a substantial difference between the average annual revenue and salary generated by a PCP in comparison to a specialist physician.
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The U.S. has one of the advanced healthcare systems and compared to any other developed nation its healthcare expenditure is two times higher. According to CMS, healthcare spending accounted for 17.7% of the GDP in 2019 and is expected to reach 19.7% in the next ten years. Primary care services act as a gatekeeper for the healthcare system and play a significant role in improving healthcare outcomes and reducing overall medical expenditure.
The onset of the COVID-19 pandemic resulted in income loss for primary care offices in the United States due to the substantial reductions in revenue caused by physical distancing. Based on volume data for general practices, general pediatric practices, family medicine practices, and general internal medicine practices, researchers from Harvard Medical School and the American Board of Family Medicine estimated that COVID-19 would cost primary care practices USD 15.1 billion in revenue.
#U.S. Primary Care Physicians Market Size & Share#U.S. Primary Care Physicians Market Latest Trends#U.S. Primary Care Physicians Market Growth Forecast#COVID-19 Impacts On U.S. Primary Care Physicians Market#U.S. Primary Care Physicians Market Revenue Value
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U.S. Concierge Medicine Market Opportunities: A Comprehensive Analysis
According to the most recent analysis by Emergen Research, the U.S. concierge medicine market size was USD 5,760.00 Million in 2021 and is projected to grow at a revenue CAGR of 10.4% over the forecast period. The benefits of concierge medicine for patients and increasing physician adoption of the practise are some of the major drivers anticipated to boost market revenue growth between 2022 and 2030. Concierge medicine is a form of membership-based healthcare that blends specialised, exclusive care with convenience and ease of access. Patients receive direct care from a doctor and access to unlimited in-person and telehealth appointments for the duration of the price, all without having to worry about copays or other payments for a monthly, biannual, or annual membership.
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Competitive Terrain:
The global U.S. Concierge Medicine industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
PartnerMD, Concierge Consultants & Cardiology, Castle Connolly Private Health Partners, Crossover Health, SpecialDocs Consultants, LLC., Peninsula Doctor, Campbell Family Medicine, Destination Health, Priority Physicians, Inc., UC San Diego Health
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global U.S. Concierge Medicine market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the U.S. Concierge Medicine market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global U.S. Concierge Medicine market.
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Market Segmentations of the U.S. Concierge Medicine Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global U.S. Concierge Medicine market on the basis of product, application, and region:
Segments Covered in this report are:
Type Outlook (Revenue, USD Million, 2019 - 2030)
Fee-for-Care
Fee-for-Extra Care
Hybrid
Application Outlook (Revenue, USD Million, 2019 - 2030)
Primary Care
Cardiology
Osteopathy
Psychiatry
Others
Ownership Outlook (Revenue, USD Million, 2019 - 2030)
Standalone
Group
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Value-Based Healthcare Services Market Growth Analysis, Projection and Industry Forecast Report
Value-Based Healthcare Services Market was estimated to grow at 19.8% CAGR during the forecast period due to rapid growth of development of these services globally, says Absolute Market Insights. The risk associated with health care from patients to their healthcare providers is the major driver for the rapid evolution of the global value-added healthcare industry. With the improvements in healthcare policies focused on patients, it is now easy to see why there is an increasing demand for value-added healthcare services. Introducing value-based healthcare services has altered the traditional way insurers used to pay for treatment. The shift to quality health care (such as reduction in hospital readmissions, use of certified IT and improvement of preventive care) and a new refund plan impel providers to concentrate on improved care. Public and commercial payers' demand to reduce costs and improve healthcare delivery. This essentially pushes them away from long-lasting volume-based healthcare models to "value-based healthcare." The aim of this method is to completely adjust the payment and objective measures of medical care quality. Providers must pay for the amount of services they deliver rather than pay based on the number of appointments and medication patients receive. This change in the reimbursement platform is driving the value-based healthcare services by directing better care at low costs. However, the financial penalties and reduced reimbursement will establish a popular financial burden for those healthcare providers who cannot meet the necessary targets. Value-based healthcare services tackle increasing healthcare spending, clinical inefficiency, and service repeatability.
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During the forecast period, the rapid development of value-based health care services serves as a major driver on the global value-based health care services industry. It has been duly reported that over 40 per cent of U.S. health care executives expect value-based reimbursement and at some point in time will become the primary revenue model for the U.S. Nevertheless, in some regions in developing parts of the world, the lack of required health care infrastructure and internet connectivity is expected to hinder the global value-based health care services market during the forecast period. In conclusion, it will take some time to transform from fee-to-service to value-based care, so that the shift can be more difficult than estimated. With the health sector developing further and providers accepting value-based care models, some financial hits may be experienced in the beginning. This transition ultimately represents an ideal way to reduce health care costs and expand quality care. To be successful in this new model, providers need to acquire new skills such as making clinically combined physician networks, gathering and assimilating data, and applying analytics to find cost and prospects for improving quality.
The detailed research study provides qualitative and quantitative analysis of value-based healthcare services market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
Intensive rivalry between the providers and increased pressure on lower costs and better quality have separated volume-based healthcare from value-for-money healthcare.
ACOs accounted for the largest share in the global of value-based healthcare services market.
Asia Pacific is expected to observe the fastest CAGR over the forecast period. Progressive economy, large geriatric population base, availability of skilled labor at economic cost, and high prevalence of chronic diseases are the major factors that increase the aforementioned region’s development.
Major players operating in the global value-based health care services market include Deloitte, Siemens Healthcare GmbH, NextStep Solutions, athenahealth, Genpact, McKesson Corporation, and NXGN Management, LLC. Currently the global market for value-based healthcare services is highly competitive due to the presence of many established players and policies of government.
Global Value-Based Healthcare Services Market:
By Model
Accountable Care Organization (ACO)
Patient-Centered Medical Home (PCMH)
Pay for Performance (P4P)
Bundled Payments
By End Use
Payers
Providers
By Geography
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Contact Us: Company: Absolute Markets Insights Email id: [email protected] Phone: +91-740-024-2424 Contact Name: Shreyas Tanna Website: https://www.absolutemarketsinsights.com
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What Impacted COVID-19 on Medical Second Opinion ?
Impact of COVID-19 on Medical Second Opinion in Healthcare Industry
New coronavirus disease outbreak (COVID-19) in 2019 caused by extreme acute respiratory coronavirus-2 syndrome (SARS-CoV-2) has posed a significant threat to the population and has a huge effect on the economy, GDP and industry worldwide. The World Health Organization (WHO) has announced that the pandemic of COVID-19 has a high transmission rate that threatens many lives. The association of the Spike-S protein in SARS-CoV-2 with the Ace-2 receptor found in the human lungs is the primary cause for the high transmutability. This is the primary reason or the largest obstacle in the health care sector and perhaps the biggest challenge for healthcare providers in 2020. In December 2019, Chinese health authorities told World Health Organization (WHO) of a mid-serious situation when a group of 40 patients with pneumonia had symptoms, most of them related to the Huanan Sea Food market. Looking at the current situation, China is not suffering from any industry worldwide deficit as the number of graph cases in China is stabilizing. The countries namely the U.S., India, Brazil, Russia and many others around the world are experiencing business decline and a decrease in GDP. Since the declaration of the pandemic, several nations including China, India, the U.S., Russia, Germany and others have entered the full lockdown state in order to minimize the spread of COVID-19 in several countries such as China, New Zealand and South Korea which have succeeded due to their tight laws and increased monitoring and the Chinese company Baidus has begun heat mapping which has made testing simpler.
According to the weekly epidemiology report of 9th February 2021 by World Health Organization (WHO) stated 3.1 million cases of coronavirus has been reported globally in past week, this brings to over 105.4 million reported cases and over 2.3 million patients are dead due to the coronavirus globally. The outbreak of COVID-19 is having a huge impact on the healthcare industry which also means need for medical second opinion because of the growing concern of patients.
The second medical opinion is the type of service or supplemental consultation that the patient gets following their primary diagnosis. After that, the patient may get a second medical opinion if the patient is displeased with the diagnosis or if more information is required in the case of any critical surgical procedures. There has been a recent rise in medical second opinion providers largely due to clinical, financial and legal risks associated in care. As we say “Second Opinions: Two Heads are better than one”. Because of the contagion nature of COVID-19 and the rising number of pandemic events and various new diseases, a second opinion is very common and encouraged by doctors. So, the demand for second opinion market has increased though the growth is anticipated to be increased at a higher pace then it is now but due to pandemic and lockdown globally, the growth was subdued. It has also been forecasted by research analysts that after pandemic, this growth will further increase due to COVID-19, people are now more conscious about their health, further more increasing prevalence of peripheral vascular disorders and growing importance on superior treatment outcomes, rising inclination for healthcare cost optimization and increasing prevalence of diseases due to change in lifestyle, growing number of hospitals all over the world are also expected to fuel medical second opinion market. Due to COVID-19, on the basis of disorders, cancer and especially (lung cancer) patients have been at the front position of using the technology (tele-medicine) to manage their diagnosis for years, also with growing concern of people cardiac disorders, diseases related to respiratory system and surgical interventions are going to get huge revenue in future. Apart from that, organ transplant opinion by primary doctor make patient concerned and in-turn patient will look for medical second opinion and increases the revenue.
IMPACT ON SUPPLY
The bulk of the consumer supply has been affected due to COVID-19. The lockdown imposed by many countries is the key reason why imports and exports for many markets have been slowing down. The medical second opinion market is extremely fragmented and the key players have used different tactics such as expansions, creative solutions, joint ventures, alliances, collaborations, acquisitions and others to expand their presence in the market.
Although, the ease of use, relatively low cost of doctor's telephone consultations and the ubiquity of smartphones make this an attractive option for monitoring patients and identifying problems at an early stage, there are important considerations with these devices that patients and providers may not be aware of the potential to have an impact on the successful implementation of such a monitoring programme.
These technologies as tele-medicine and online prescription are not halted during the pandemic and serve as a boon technology for human beings based on software’s and A.I., so the technology relies on the vast supply of medical case data to train the machine model, for that, machine learning and deep learning is utilized, this is done to train it’s algorithms and to find the patterns in the images and identify specific anatomical markers. Also to keep the vast amount of data stored, big data is needed. Medical reports and data can be transferred in the form of pdf, images and others. So accessibility for medical records were easy, only thing that was halted is to perform diagnosis tests as they were carried out in hospitals and reaching to hospitals during the pandemic time was not so safe.
For instance,
· To keep the track of patient SpO2 measurement, we need to first train the model by using training data of a fit individual collected from various databases, hospitals data, surveillance and others. After that we can provide the tested data to machine which then provide us accurate results.
Via a detailed study of trends in a given digital image, imaging algorithms may produce metrics and outputs that fit radiologist analyses which can be useful for rapid diagnosis.
Supply of the data is somewhat complicated by COVID-19 owing to a worldwide lockout, quick access to hospital data is not necessary to train the machine learning algorithm and without that artificial intelligence cannot be applied. Supply chain for data is broken but this is not entirely so because much of the patient data is stored on cloud servers or databases, one may still approach officials and purchases the data, many websites such as Kaggle and github are instances that store data and are easily available to everyone. Also tele-medicine and online consultations helps a lot and their supply chain of data in the form of images or pdf was not hampered.
Better and increasing numbers of diagnostic procedures carried out is expected to drive the medical second opinion market growth and supply for new solutions
The capacity and performance of customized care, better treatments and treatment of patients is also expected to fuel development in the demand for portable physical exercise products such as SpO2 and bpm fit-bands and smartwatches, although measurement also improves the supply of second opinion medical devices. On the other hand, some restraints are:
· Rising lack of awareness
· Reluctance toward opting for medical second opinion in emerging nations
· Frequent changes in the economic status of developing countries
· Also, providing tele-medicine facilities in the under-developed nations can be challenging
· High cost and reluctance of adoption of these systems
· Due to COVID-19, easy accessibility of data from hospitals to train machine learning model is not possible
IMPACT ON DEMAND
The global market for medical second opinion market is mainly related to the high prevalence of the cardiovascular disease, high rate of obesity, major surgical advices, lungs & respiratory tract disorders and the growing need for minimally invasive procedures. Additionally, factors such as increased number of tough healthcare decisions, expensive tests are right or not and risky surgery and finally unsure about the diagnosis, government initiatives and support, increased demand for advanced treatments, research and increased clinical trials for new diseases and increasing players that are offering newer solutions will probably stimulate the market. Tele-medicine and online second opinion become lucrative to increase the demand during the COVID-19 pandemic and will remain be a boon technology in future. This technology has by this time already demonstrated there efficacy, accuracy and refinement of results, that’s why researchers, physicians and pathologists know the value of the technology and hence, they are looking to hasten their productivity and potentially improve their accuracy in diagnosis of clinical abnormalities and problems related with patients.
Furthermore, accruing proof suggests that a sub-group of patients with severe COVID-19 acute respiratory distress syndrome (ARDS) with hypoxemia might have cytokine storm syndrome. Certainly, 25–31% of COVID-19 patients displayed irregular blood clotting. Blood clots can break apart and lodge in the pulmonary organs as lungs, causing in pulmonary embolism, while clots from arteries can lodge in the brain, triggering stroke. While the lungs are “ground zero”, clots can form in organ systems from the brain to blood vessels. This is a major reason for the increasing concern in patients to look for secondary option to treat the disorder or preventive measures against the virus.
Additionally, it has been found in the study of direct SARS-CoV-2 infection of endothelial cells and diffuse endothelial inflammation. Subsequently, SARS-CoV-2 targets blood vessels, patients with pre-existing damage to those vessels such as from diabetes and high blood pressure, face a higher risk of serious disease as hematological blood disorders, this is another main dynamic factor powering the market growth presently by multiple biotechnological and pharmaceutical companies globally to accelerate drug or vaccine development processes for the COVID-19.
Global medical second opinion market is expected to gain market growth and not just because of COVID-19, although the impact of COVID-19 has increased the growth of the market but the demand for medical second opinion was also higher in the period of 2015-2020 due to increasing number of geriatric, diabetic and cardiovascular diseases, although it is not as high as it is now. Because of the COVID-19, a new respiratory disorder with lots of mystery, it is clear that after COVID-19 pandemic will get over, it will further boost the global medical second opinion market because of the awareness in people about diseases and the increasing concern for physical care. In the pulmonology sector and cardiac sector especially, the demand will be higher. The participation of various start-ups that make some apps and smart tracking devices as fit-bands are also tracking the SpO2 levels which will help in the expansion of blood flow measurement market and become the key factors backing to the growth of the market. The U.S., China and the U.K. are developing as popular hubs for healthcare innovations. Japan and South-Korea also holds the scope for the development of medical second opinion market in healthcare with skilled workers and technologies they possess. Growth in Asia-Pacific is expected to be fast owing to the demand of advanced technologies and increasing cases of cancer, lung cancer, cardiovascular diseases and diabetes. North America rules the medical second opinion market due to highly aware people, innovative healthcare infrastructure, favorable government initiatives and rising prevalence of diseases due to change in lifestyle in the region.
On the other hand, growing healthcare expenditure and amount of hospitals will further boost various opportunities that will lead to the growth of the medical second opinion market. Some companies are launching new products to increase their revenue by meeting the emergent need.
Globally the surge in the demand of medical second opinion market in diagnostics market is going to be observed due to the infectious nature of COVID-19 which could be spread via touch, mucous droplets, use of clothes among others and due to lockdown, the advancement and the pace for development which was expected is likely reduced, but in coming few years, the growth is going to be much higher with increasing awareness of health in people and more accurate results from A.I. and new product launches and smartwatches.
Some of the applications which can increase the demand for medical second opinion are:
· Increasing investments in telemedicine technologies
· Rising modernization
· Technological advancement in the healthcare sector
· Rising R&D activities
· Assessment of auto-regulation capability
KEY INITIATIVES BY MARKET PLAYERS DURING COVID-19
Major competitors currently present in the market are Medisense Healthcare Solutions Pvt. Ltd., Second Opinion International, Cigna, EMS | Elite Medical Services, WorldCare, Medix Staffing Solutions Inc., 2nd.MD, AXA, Medo Asia Sdn Bhd., Medisense, London Pain Clinic, Mondial Assistance, GrandOpinion, Penn Medicine, The Johns Hopkins University, Keio University, Toranomon Hospital and Cleveland Clinic among other domestic and global players.
For instance,
Medisense Healthcare Solutions Pvt. Ltd. as well as all the competitors is now focusing on corona consultation specifically and in turnhelp boosting the revenue for global medical second opinion market.
“During plasma exchange, the plasma of COVID-19 patients is replaced with donated plasma,” explains Maier. “This reduces the viscosity by normalizing the fibrinogen and other factors contributing to the stickiness and potentially may reduce clotting. Still, correlation does not mean causality and we need to study this in large trials to understand whether viscosity is simply a marker of disease or actually contributing to clotting.
Another recent study by Medisense Healthcare solution: “Here's How Night Time Artificial Lights Exposure May Elevate Thyroid Cancer Risk!!”, it states people living in regions with high levels of outdoor artificial light at night may face a higher risk of developing thyroid cancer, suggested the findings of a novel study. These finding comes from a study published early online in 'CANCER', a peer-reviewed journal of the American Cancer Society.
CONCLUSION
The COVID-19 virus is expected to have a long-lasting effect on each business field. The pandemic of COVID-19 forced people to deal with the confusion and regulation of the virus. The virus poses a risk not only to human health but has also created economic hardship and extreme mental pressure, people are losing their jobs and every industry has suffered, causing chaos in everyone's minds. It is now fashioned to wear masks and gloves since COVID-19 has established a modern hygiene method around the world. Although, it cannot be assumed that a second medical opinion is not needed sooner. However, considering the extremely infectious nature of the virus and the ease with which it spreads through droplets or even fomites to some degree, the demand from the medical second opinion and the healthcare sector continues to grow not only for diagnosis but also for R&D to produce a drug or vaccine for the virus. With a spike in the number of cases, countries can also adopt these instruments to track SpO2 amount such as those of South Korea and China in order to keep the number of cases in check. It can be used in diagnostics to provide precise, consistent and accurate results since it is based on a huge and previous amount of data. Patients mostly have their health insurance which is covering for their treatment having a second opinion helps lot in the situation. "Looking to the future, there is clear potential for the medical second opinion consolations & solutions to become mainstream tools in the treatment of COVID-19 patients."
#Medical Second Opinion COVID-19 Impact#COVID-19 Impact on Medical Second Opinion Market demand#COVID-19 Impact on Medical Second Opinion Market Supply#COVID-19 Impact on Medical Second Opinion Market Price
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Bowel Management Systems Market Development, Trends, Segmentations Analysis
Transparency Market Research (TMR) has published a new report titled, “Bowel Management Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global bowel management systems market was valued at US$ 1,682.95 Mn in 2017 and is projected to expand at a CAGR of 3.70% from 2018 to 2026. Increase in the prevalence of fecal incontinence and constipation in elderly population and rising geriatric population are anticipated to boost the global market from 2018 to 2026. North America and Europe are expected to dominate the global bowel management systems market in the next few years, owing to new product launches, demand for technologically advanced bowel management systems in developed countries, and proactive population seeking physicians’ advice for bowel management. Key players operating in the global bowel management systems market strive to enter into distribution agreements and strategic acquisitions in order to strengthen their footprint across the world.
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Systems segment to expand at prominent growth rate
The report offers detailed segmentation of the global bowel management systems market. Based on product, the market has been segmented into systems and accessories. The systems segment is expected to propel at a high growth rate owing to the rising demand for minimally invasive treatment options due to their effectiveness and cost-efficiency. The irrigation systems sub-segment holds a major share of the systems segment owing to the ease of use and effectiveness of the treatment. These help improve the quality of life, prevent infections, provide odor control, and reduce daily nursing time.
Adult segment to expand at rapid pace
The adult segment is likely to expand at a high CAGR during the forecast period, owing to increase in the geriatric population. Additionally, rising life expectancy, owing to the decline in the mortality rate, fuels the market. For instance, in the U.S., according to Population Reference Bureau Report, the geriatric population, over 65 years of age, is anticipated to reach more than 98 Mn by 2060, from 46 Mn in 2017. Moreover, increasing longevity among the geriatric population, which reached 79 years in 2013 from 68 years in 1950, would propel the market.
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Hospitals segment held major share
In terms of end-user, the global bowel management systems market has been divided into hospitals, ambulatory surgical centers, and home-care settings. The hospitals segment held a major share of the market in 2017. Expansion of the segment can be attributed to the rising cases of spina bifida and anorectal malfunctions among the pediatric population and rise in the number of surgical procedures such as spinal cord injuries in adults.
Asia Pacific market to be driven by increase in geriatric population in Japan and India
In terms of revenue, Europe dominated the global bowel management systems market in 2017. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Expansion of the bowel management systems market in the region is attributed to the increase in geriatric population and rise in the number of patients suffering from fecal incontinence and constipation. Additionally, new product launches, changing reimbursement scenario, rise in awareness among people, and improving healthcare infrastructure are major factors driving the market in Asia Pacific.
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Strategic acquisitions is the primary strategy adopted by market players
The report also provides profiles of leading players operating in the global bowel management systems market. Coloplast A/S, Medtronic plc, Hollister Incorporated and ConvaTec Group Plc. are major players in the market, offering products with proprietary technologies. Major market players adopted the strategy of inorganic growth in order to strengthen their market presence. For instance, Coloplast acquired direct-to-consumer homecare companies globally, including IncoCare Gunhild Vieler GmbH in Germany, in 2018; SAS Lilial in France, in 2017; and Comfort Medical in the U.S., in 2016. Other players include Cogentix Medical, Inc. (acquired by LABORIE Medical Technologies), Consure Medical, ProSys International Ltd., Aquaflush Medical Limited, C. R. Bard, Inc. (acquired by Becton, Dickinson and Company), B. Braun Melsungen AG, Respiratory Technology Corporation, MBH International A/S, Wellspect Healthcare (Part of Dentsply Sirona Company), and Axonics Modulation Technologies.
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Global Disposable Medical Supplies Market
Global Disposable Medical Supplies Market Size, Share, Growth, Industry Trends and Forecast 2020-2030
The global disposable medical supplies market was valued at USD 64622.47 million in 2020, and is expected to reach USD 128315.24 million by 2030, registering a CAGR of 7.1% during the forecast period.Disposable medical supplies are medical consumables which are non-durable, that are usually disposable in nature. These supplies cannot survive repeated usage by more than one individual. Development of disposable supplies was aimed at reducing the infections in hospital settings such as bloodstream infections hospital-acquired pneumonia, urinary tract infections, and others. It is protective equipment used to protect healthcare workers against infections and diseases. It also prevent cross contamination between doctor and caregivers and doctor and patient during medical examination, surgical procedure and chemotherapy. It is an integral part of the infection control strategy and their uses regulated by FDA class I reserved medical device. The need for disposable medical supplies has witnessed reliable growth, as hospitals and outpatient facilities are implementing severe infection prevention safety measures to be at par with the standards. Growing rate of disease & disorders and rising aging population are the factors that drive the growth for disposable medical supplies market.
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Market Dynamics and Factors:
High necessity for disposable medical supplies and favorable government regulations for their mandated use drive the market. Growth will be driven by increasing volume of patient activity, aging populations, rising epidemiological trends, improvements in developing world healthcare systems, and the acceptance of stricter healthcare infection hindrance protocols throughout the world. However, the insufficient compensation scenario for these products and increase in environmental concerns due to the disposable of medical wastes are expected to restrict the market growth. For instance, according to WHO, about 16 billion injections are administered globally, thus increasing the amount of waste. The market driving by the growing volume of surgeries, growth in the frequency of chronic diseases and growing medical tourism in the region. Increasing number of surgeries will fuel the demand for surgical gowns, hand gloves, drapes, procedure kits and trays, and feeding tube will give a push to the disposable medical supplies market worldwide.
Market Segmentation:
Global Disposable Medical Supplies Market – By Product Type
Diagnostic Supplies
Dialysis Consumables
Radiology Consumables
Infusion Products
Intubation & Ventilation Supplies
Hypodermic Products
Sterilization Consumables
Nonwoven Medical Supplies
Wound Care Consumables
Other Medical Supplies
Global Disposable Medical Supplies Market – By Application
Cardiovascular
Cerebrovascular
Ophthalmology
Gynecology
Urology
Orthopedics
Others
Global Disposable Medical Supplies Market – By End-User
Hospitals
Clinics/Physician Offices
Assisted Living Centers & Nursing Homes
Ambulatory Surgery Centers
Research Institutes
Global Disposable Medical Supplies Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America held the largest share in terms of revenue in the global disposable medical supplies market due to a growing geriatric population in the region, highly developed healthcare infrastructure, and the rising number of ambulatory facilities in the region. Furthermore, developing countries such as China, India, and Brazil are gaining significance for majority of the disposable medical supplies, as they are focusing towards unmet demand for disposable hospital supplies and devices in these countries.
Competitive Scenario:
The key players operating in the disposable medical supplies market are Abbott Laboratories, Cardinal Health Incorporate, Domtar Corporation, Medtronic plc. 3M Company, Becton, Braun (B.) Terumo Corporation, Smiths Group plc. , Bayer AG, and Melsungen AG.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Disposable Medical Supplies industry, although key threats, opportunities and disruptive technologies that could shape the Global Disposable Medical Supplies Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Disposable Medical Supplies Market most.
The data analysis present in the Global Disposable Medical Supplies Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Disposable Medical Supplies Market business.
The 2021 Annual Global Disposable Medical Supplies Market offers:
100+ charts exploring and analysing the Global Disposable Medical Supplies Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Disposable Medical Supplies Market type
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Fetal and Neonatal Care Equipment Market - What's really changing Growth Narrative?
Latest Research Study on Global Fetal and Neonatal Care Equipment Market published by AMA, offers a detailed overview of the factors influencing the global business scope. Fetal and Neonatal Care Equipment Market research report shows the latest market insights with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors, Challenges and Current Scenario Analysis of the Fetal and Neonatal Care Equipment. This Report also covers the emerging player’s data, including: competitive situation, sales, revenue and global market share of top manufacturers are BD (United States), Drägerwerk AG & Co. KGaA (Germany), Medtronic plc (Ireland), Fisher & Paykel (New Zealand), GE Healthcare (United Kingdom), Philips (Netherlands), Covidien (Ireland), Smiths Medical, Inc. (United States), Spacelabs Healthcare, Ltd. (United States), Utah Medical Products, Inc. (United States), Getinge (Sweden), Analogic Corporation (United States), Ivy Biomedical Systems, Inc. (United States), Masimo Corporation (United States).
Brief Summary of Fetal and Neonatal Care Equipment: Fetal and neonatal care equipment mainly focuses on the aspects of child health and diseases from the perinatal period to the adolescence stage. According to the World Health Organization (WHO), around there have been 340,000 maternal deaths, 3.1 million neonatal deaths, and 2.7 million stillbirths that occur worldwide each year. As per the latest study the rate of maternal death, early neonatal death, and stillbirth have declined in the high and few of the middle-income countries, mainly due to improved obstetric care. There are about 17 National Institute of Child Health and Development Neonatal Research Network in the U.S. where many programs are introduced or are experimented in order to enrich the quality and research for much better outcomes of the patients. In the year 2013, the Children's Health launched Texas very first dedicated neonatal telemedicine service that offers physicians availability at many other NICU hospitals for neonatal cases. Vendors hereby mainly focus on providing the highly efficient and low-cost equipment so as to cater to the neonatal segment that in turn reduces morbidity and mortality in the regions that have poor resources and also less skilled physicians. Free Sample Report + All Related Graphs & Charts @ : https://www.advancemarketanalytics.com/sample-report/1642-global-fetal-and-neonatal-care-equipment-sales-market Fetal and Neonatal Care Equipment Market Report offers a detailed overview of this market and discusses the dominant factors affecting the growth of the market. The impact of Porter's five armies on the market over the next few years has been discussed for a long time in this study. We will also forecast global market size and market outlook over the next few years. Types of Products, Applications and Fetal and Neonatal Care Equipment Market Report Geographical Scope taken as the Main Parameter for Market Analysis. This Research Report Conducts an assessment of the industry chain supporting this market. It also provides accurate information on various aspects of this market, such as production capacity, available production capacity utilization, industrial policies affecting the manufacturing chain and market growth. The Global Fetal and Neonatal Care Equipment Market segments and Market Data Break Down are illuminated below: by Type (Fetal Care Equipment (Fetal Dopplers, Fetal Magnetic Resonance Imaging (MRI) Devices, Ultrasound Devices, Fetal Pulse Oximeters, Others), Neonatal Care Equipment (Incubators, Neonatal Monitoring Devices, Phototherapy Equipment, Respiratory, Assistance and Monitoring Devices, Others)), Application (Hospitals, Clinics, Others), Distribution Channel (OEM, Aftermarket), Level of Care (Level I, Level II, Level III) What's Trending in Market: The Growing Popularity Of and Demand for Fetal and Neonatal Care Equipment Is Increasing Due To the Procedural Advantages That These Devices Offer
Challenges: Presence of Too Many Fragmented Players
The Lack of Skilled Workers
Restraints: The Lower Birth Rate among Established Countries
The Reluctance of End-Users to Make High Initial Capital Investments
Market Growth Drivers: Increase in the Birth Rate All Around the World
The Infant Deaths Occur During the First Month of Birth Due To Negligible Care
Increase in Patient Safety Concerns and the Growing Number of Premature Births Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc. Enquire for customization in Report @: https://www.advancemarketanalytics.com/enquiry-before-buy/1642-global-fetal-and-neonatal-care-equipment-sales-market Strategic Points Covered in Table of Content of Global Fetal and Neonatal Care Equipment Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Fetal and Neonatal Care Equipment market
Chapter 2: Exclusive Summary – the basic information of the Fetal and Neonatal Care Equipment Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Fetal and Neonatal Care Equipment
Chapter 4: Presenting the Fetal and Neonatal Care Equipment Market Factor Analysis, Post COVID Impact Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020
Chapter 6: Evaluating the leading manufacturers of the Fetal and Neonatal Care Equipment market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2021-2026)
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source Finally, Fetal and Neonatal Care Equipment Market is a valuable source of guidance for individuals and companies in their decision framework. Data Sources & Methodology The primary sources involves the industry experts from the Global Fetal and Neonatal Care Equipment Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects. In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age. Get More Information: https://www.advancemarketanalytics.com/reports/1642-global-fetal-and-neonatal-care-equipment-sales-market What benefits does AMA research studies provides?
· Supporting company financial and cash flow planning
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Definitively, this report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market.
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Negative Pressure Wound Therapy (NPWT) Market Poised to Expand at a Robust Pace Over 2019 – 2029
In this report, Future Market Insights (FMI) offers a 10-year forecast of the global Negative Pressure Wound Therapy (NPWT) Market between 2016 and 2026. In terms of value, the market is expected to register a CAGR of 6.6% over the forecast period. This study demonstrates market dynamics and trends in all seven regions that are expected to influence the current environment and future status of the NPWT market over the forecast period.
Report Description
This FMI report examines the NPWT market for the period 2016–2026. The primary objective of the report is to offer insights into developments in the NPWT market that are significantly helping transform growth trajectory of global businesses and enterprises associated with the same.
The NPWT market report begins by defining various types and listing usages of NPWT. It is followed by an overview of the market dynamics of the global NPWT market, which includes FMI’s analysis of the key trends, drivers, restraints, opportunities, regulations and government initiatives, which are influencing growth of the global NPWT market. Impact analysis of the key growth drivers and restraints based on the weighted average model has also been included in this report after analysis of individual regions, to better equip readers with meaningful insights on the ongoing developments in the market.
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The primary factors fuelling demand for NPWT are growing incidence of acute and chronic wounds, burn cases and major surgeries. Other major factor driving demand for NPWT is rising prevalence of chronic diseases directly related to the onset of chronic wounds such as diabetes mellitus and cardiovascular diseases. Besides, growing confidence of clinicians and physicians regarding NPWT, rising patient awareness regarding cost-effective NPWT devices such as portable and stand-alone devices and availability of low-cost NPWT options in developing countries are among the other factors expected to further fuel overall growth of the market over the forecast period. However, a primary factor hampering growth of the NPWT market is lack of skilled clinicians and complications associated with NPWT devices.
Based on product type, the market has been segmented into stand-alone NPWT devices, portable NPWT devices, single use disposable NPWT devices and NPWT accessories (Canisters). A detailed analysis of each segment has been provided in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.
The report has been segmented based on end-users. Meanwhile, foray of new hospitals is expected to lead to increasing demand for NPWT devices. This trend is expected to be particularly prominent in countries where access of people to healthcare services is on the rise. These include countries in APAC and Latin American countries.
The next section of the report highlights NPWT adoption by region, and provides market outlook for 2016–2026. The study discusses key regional trends contributing to growth of the NPWT market worldwide, as well as analyses the extent to which drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).
The above sections— by product type, end user and region — evaluate the present scenario and growth prospects in the global NPWT market for 2016–2026. We have considered 2014 as the base year, 2015 as the estimated year and provided data for the forecast period, i.e., 2016–2026.
To ascertain NPWT market size, we have also considered revenue generated by device manufacturers. The forecast presented here assesses the total revenue generated in the global NPWT market. In order to offer an accurate forecast, we started by sizing up the current market, which forms the basis of how the global NPWT market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis based on supply side, downstream industry demand and the economic envelope.
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In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the NPWT market and to identify the right opportunities across the market.
The NPWT segments, by products, end user and region, are analysed in terms of Basis Point Share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the NPWT market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the NPWT market.
To understand key growth segments in terms of growth and adoption of NPWT globally, Future Market Insights developed the NPWT ‘Market Attractiveness Index’. The resulting index should help providers identify the real market opportunities.
Key categories of providers covered in the report are NPWT manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment of the NPWT value chain and the potential players with respect to the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the NPWT marketplace.
Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, SWOT analysis and recent developments in the NPWT market. Key market competitors covered in the report include Kinetic Concepts, Inc., Smith & Nephew, ConvaTec Inc., PAUL HARTMANN AG, Medela, Mölnlycke Health Care and Coloplast Corp.
Key Segments Covered
Standalone NPWT Devices
Single use Disposable NPWT Devices
Portable NPWT Devices
NPWT Accessories (Canister)
Hospital
Clinics
Home Care Settings
Key Regions/Countries Covered
U.S.
Canada
Brazil
Mexico
Rest of Latin America
Germany
U.K.
France
Spain
Italy
Rest of Western Europe
Russia
Rest of Eastern EuropeGreater China
India
Australia and New Zealand
Rest of APEJ
GCC
Southern Africa
Rest of MEA
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Key Companies
Kinetic Concepts, Inc.
Smith & Nephew
ConvaTec Inc.
PAUL HARTMANN AG
Medela
Mölnlycke Health Care
Coloplast Corp.
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Global EHR-EMR Market : Industry Analysis and forecast 2019 – 2027 -By Mode of Delivery, End User, Component, Application, and Region.
Global EHR-EMR Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow at 6.3% from 2019 to 2027, reaching nearly US$ XX Mn.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Definition:
EHR-EMR (Electronic Health Records and Electronic Medical Record) are a collection and storage of a patient’s information electronically. This allows the healthcare provider to obtain data from anywhere and offer emergency care whenever needed. EHR-EMR revolution in healthcare IT has carried a positive change in healthcare management.
Market Dynamics:
The scope of the MMR report includes a detailed study of the global and regional market for EHR-EMR with the reasons given for variations in the growth of the industry in certain regions. In recent past years, the adoption of patient-centric EHR-EMR systems is growing significantly as patients are opting for direct involvement during the documenting process. Such an approach may lead to more satisfying and efficient outcomes inpatient treatment. It can also decrease healthcare costs and boost the quality and safety of clinical practices. Therefore, major companies in the market can walk to fame on emerging patient-centric EHR-EMR systems to enhance their market share. The digitalization of the sector can be seen based on the EHR-EMR application. This system has transformed the healthcare industry from a paper-based industry into a digital one.
The cost for implementation and maintenance of EHR-EMR is high. The costs include the purchase of software and hardware, contracting & selecting costs, and installation cost. Such a scenario is expected to hinder the growth of the global EHR-EMR market. Such as, implementing an EMR system may cost a single physician proximate US$ 163,765 Mn.
Market Segmentation:
The report covers the segments in the EHR-EMR market such as mode of delivery, end-user, component, and application. Based on the application, the software segment is expected to grow at the highest XX.72% CAGR during the forecast period. The software records robust demand as it includes various provisions of sharing medical records with the use of IT and telecommunication to patients that are remotely located.
Region-wise Analysis:
North America EHR-EMR Market accounted for the nearly 48% market share in 2019. High revenue share can be attributed to factors like accelerating adoption of healthcare information technology coupled with enforcement of many regulations to upsurge the implementation of EHR-EMR in North American economies. The Canada Action Plan offers funds for EHR implementation, thus growing the adoption of electronic medical records in primary care across Canada.
Country-wise Analysis:
The U.S. has the dominant market share of EHR-EMR. The U.S. market has a strong existence of many market leaders and has a booming healthcare industry. The strong healthcare industry in the U.S. has an attraction toward the adoption of advanced healthcare IT technology.
Italy EHR-EMR Market is forecast to progress at ~6.2% CAGR over the estimated timeframe. Rising use of mobile devices and the growing deployment of electronic solutions across hospitals in Italy will serve to be a high impacting factor for market growth.
Global EHR-EMR Market1
Top market Key Players:
In 2018, Epic Company had the highest net market share gain as the company gained newly integrated delivery network hospitals, new standalone hospitals, and customer add-ons. Further, Cerner Company deals with the Department of Veterans Affairs which contains 20 specialty hospitals and 147 acute care. Allscripts and Epic will continue maintaining their spot on the top as they make more earnest efforts to provide ambulatory practices.
Recent Development:
The reports cover recent developments in the EHR-EMR market as organic and inorganic growth strategies. In 2019, Cerner Company announced the growth of the Cerner Learning Health Network along with the Duke Clinical Research Institute. This development will help in the enhancement of clinical research registries as well as will grow the company’s client base.
The objective of the report is to present a comprehensive analysis of the Global EHR-EMR Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global EHR-EMR Market dynamics, structure by analyzing the market segments and projects the Global EHR-EMR Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global EHR-EMR Market make the report investor’s guide.
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Scope of the Global EHR-EMR Market
Global EHR-EMR Market, by Application
• Specialty-Based • General Applications Global EHR-EMR Market, by Component
• Software • Services & Consulting • Hardware Global EHR-EMR Market, by Mode of Delivery
• On-Premise • Cloud-Based Global EHR-EMR Market, by End User
• Hospital & Clinics • Ambulatory Care • Diagnostic Centers Global EHR-EMR Market, by Region
• Asia Pacific • North America • Europe • South America • Middle East & Africa Key players operating in Global EHR-EMR Market
• Cerner Corporation • eClinicalWorks • Athenahealth, Inc. • GE Healthcare • AdvancedMD • Meditech • Allscripts Healthcare Solutions • InterSystems Corporation • NextGen Healthcare • Cantata Health LLC • Greenway Health, LLC • Quality Systems, Inc. • Epic • Medhost
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The Europe Influenza Diagnostics Industry Market is Expected to Reach $907.9 Million by 2026.
Influenza Diagnostics Market is valued at USD 558.1 Million in 2019 and expected to reach USD 907.9 Million by 2026 with the CAGR of 7.2% over the forecast period"
Global Influenza Diagnostics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026- Increasing prevalence of infectious diseases, seasonal influenza and the growing research and development activities are some of the major factors driving the growth of Global Influenza Diagnostics Market.
Scope of Global Influenza Diagnostics Market Report-
Influenza is an acute respiratory tract infection (ARTI) also known as flu with a nurture period ranging from 1 to 4 days. It is an infectious disease caused by the influenza virus. Seasonal influenza is an acute respiratory tract infection caused by influenza viruses which circulate altogether parts of the globe. There are four types of seasonal influenza viruses, types A, B, C and D. Among all, Influenza A and B viruses circulate and cause seasonal epidemics of disease. Influenza spreads through infectious respiratory secretions caused by aerosol formation due to direct contact with an infected person. These viruses can often causing morbidity, mortality and significant economic and social impact on communities. Influenza viruses infect the upper respiratory tract including nose, throat and bronchi and rarely, the lungs.
Influenza diagnostics market report is segmented on the basis of test type, application and region & country level. Based upon test type, influenza diagnostics market is classified into reverse transcription polymerase chain reaction (RT-PCR), rapid antigen testing, cell culture and others (immunofluorescence & serology). Based upon end-user, influenza diagnostics market is classified into hospitals, research centers, diagnostic laboratories, and point of care testing centers (POCT).
The regions covered in this influenza diagnostics market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of influenza diagnostics is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players of Influenza Diagnostics -
Influenza diagnostics market report covers prominent players are Roche Diagnostics, Princeton BioMedtech corp, Meridian Bioscience, Inc, Becton Dickinson and Company Sekisui Diagnostics, Thermo Fisher Scientific. SA Scientific, Inc, Alere Scarborough, Inc, Quidel Corporation and others.
Global Influenza Diagnostics Market Dynamics–
Increasing prevalence of infectious diseases, seasonal influenza and the growing amount of research and development activities in this field are some of the major factors contributing to the revenue growth of the global influenza diagnostics market across the world. According to report by NCBI, the World Health Organization (WHO) estimates that approximately one billion people are infected and up to 500,000 people die from influenza each year in the world. Influenza is measured to be the greatest killer of the human populations. According to WHO, these annual epidemics were estimated to result in about 3 to 5 million cases of severe illness and about 290 000 to 650,000 respiratory deaths worldwide. In addition, growing awareness about the influenza globally is expected to further foster the growth of the global influenza diagnostics market over the forecast period. According to World Health Organization statistics, 1.4 million people worldwide suffer from infections acquired in hospitals.
However, increasing prices of diagnostic kits and reagents may hamper the growth of influenza diagnostics market. In spite of that, technological advancements in healthcare sectors and increasing government initiatives and collaboration with market players for raising awareness regarding the innovative and more effective faster, accurate and cost-effective diagnosis for disease will create wide opportunities for the players operating in the influenza diagnostics market during forecast period.
Global Influenza Diagnostics Market Regional Analysis–
North America is expected to dominate influenza diagnostics market with the potential rate due to technological advancements, favourable government initiatives to control the disease rates, increase in number of research collaborations and increaseing infectious diseases like seasonal flu and pandemic influenza in this region. The U.S. Centers for Disease Control (CDC) found between about 6 million and 7 million people with flu cases in the U.S. in 2019. According to The Centers for Disease Control and Prevention, around 15.5 million number of visits to physician offices with infectious and parasitic diseases as the primary diagnosis in the United States. As per National Center for Biotechnology Information (NCBI), more than 18 million people work in the healthcare field in the United States. In addition, increasing number of players entering the influenza diagnostics market with quality product offerings is also supplementing the market growth. As per CDC, influenza testing across the United States may be higher than normal at this time of year because of the COVID-19 pandemic.
Europe is the second largest market for influenza diagnostics and is growing due to increased growth in research and development activities as well as rapidly spreading infectious disease in this region. For instance; WHO-Europe, in March 2020, approximately infected cases 171,874 and deaths 8,744 in this region. According to NCBI, around 10 million individuals aged 65 years and older are at risk of contracting influenza, and it can be estimated that the lack of a vaccination strategy would lead to more than 2 million cases and about 30,000 deaths in Italy. And the demand of the influenza diagnostics will accelerate due rapidly increasing infections during forecast period.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period due to the increase in healthcare expenditure, rising awareness about infectious diseases, higher rate of population, rising initiatives by government bodies to control the disease rate and increasing number of hospitals & laboratories. China has witnessed increasing prevalence of infectious diseases. For example, according to WHO-China, China reported 2478 new cases of COVID-19. Due to these factors Asia Pacific market would be a fruitful investment for the influenza diagnostics market contributors. Additionally, favorable government initiatives and increase in number of research collaborations are some of the drivers expected to accelerate the market growth.
Key Benefits for Global Influenza Diagnostics Market Report–
Global influenza diagnostics Market report covers in depth historical and forecast analysis.
Global influenza diagnostics Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global influenza diagnostics Market report helps to identify opportunities in market place.
Global influenza diagnostics Market report covers extensive analysis of emerging trends and competitive landscape.
Global Influenza Diagnostics Market Segmentation:–
By Test Type:
Reverse transcription polymerase chain reaction (RT-PCR)
Rapid Antigen Testing
Cell Culture
Others (Immunofluorescence & Serology)
By End-User:
Hospitals
Research Centers
Diagnostic Laboratories
Point of care testing centres (POCT)
By Regional & Country Analysis:
North America
U.S.
Mexico
Canada
Europe
UK
France
Germany
Italy
Asia Pacific
China
Japan
India
Southeast Asia
South America
Brazil
Argentina
Columbia
The Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
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Optometry Equipment Market to witness a CAGR of 5.6 % over the forecast period (2018 – 2026)
Optometry equipment are usually operated by optometrist or ophthalmologist to examine, diagnose, treat, and manage diseases and disorders of the visual system, the eye, and deformities associated with eye structures as well as diagnose eye related systemic disorders.
The global Optometry Equipment Market size is estimated to be valued at US$ 3,285.7 million in 2018.
Figure 1. Global Optometry Equipment Market Value (US$ Mn), by Region, 2018
Market Drivers;
Rising prevalence of most common eye disease such as age-related macular degeneration (AMD), cataract, glaucoma, and diabetic retinopathy are major driving factor for growth of the Optometry Equipment Market. For instance, according to the data published in the Glaucoma Research Foundation (GRF) in October 2017, glaucoma accounts for around 10 million visits to physicians annually. Furthermore, in terms of health care expenditure, glaucoma cost around US$ 1.5 billion to the U.S. government, annually.
According to the Royal National Institute of Blind People (RNIB), more than 5.7 million people are suffering from sight-threatening eye conditions in the U.K. Moreover, 2 million individuals were suffering from sight loss in 2016, which is expected to rise by registering more than 2.7 million individuals by 2030. Moreover, according to the Royal National Institute of Blind People (RNIB) data findings, in 2014, around 350,000 people were registered as blind or partially sighted, which includes 291,100 individuals from England, 34,500 in Scotland, 16,939 in Wales and around 8000 in Northern Ireland.
Furthermore, an increasing number of diabetic population around the globe is expected to drive growth of the optometry equipment market. According to the World Health Organization (WHO) November 2017, data findings, in 2015, an estimated 1.6 million deaths were caused due to diabetes. Moreover, WHO estimated that diabetes will be the seventh leading cause of death in 2030.
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Market Opportunities:
Increasing healthcare expenditures for treatment of sight loss, blindness, and sight-threating conditions are expected to propel demand for optometry equipment over the forecast period. According to the RNIB- Eye Health 2016 report, in the U.K., during 2016, sight loss, blindness and sight-threating conditions accounted for US$ 2.03 million, US$ 0.27 million, and US$ 5.7 million healthcare expenditures, respectively.
Moreover, growing number of diabetic population and patients suffering with diabetes owing to get affected with diabetes eye disease, will expected to exhibit strong growth in optometry equipment market. Eye disease is the common complications in diabetes, which include glaucoma, diabetic retinopathy, and cataract. People with diabetes are twice as likely to develop glaucoma as compared to non-diabetics people. Neovascular glaucoma, is the rare type of glaucoma, which is commonly associated with the diabetes.
According to the data published in PLOS One Journal in August 2014, 13 study, 7 case control studies, and 7 population based studies conducted among the Diabetes Mellitus (DM) patients reported that, the people with diabetes mellitus have an increased risk of developing primary Open-Angle Glaucoma (POAG).
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Figure 2. Global Optometry Equipment Market, by End User, 2018 & 2026
Segment Information
North America is expected to account for largest market share in optometry equipment market, owing to increased awareness regarding the cataract, vision loss, other common eye disease, well established healthcare infrastructure, favorable Medicare reimbursement facilities, and increasing incidence of diabetes in the North and Latin America.
For instance, according to the U.S. Centers for Medicare & Medicaid Services, people having diabetes or a family history of glaucoma are classified under group of high risk for glaucoma and covered for glaucoma tests once every 12 months under Medicare Part B insurance plan.
Moreover, increased government spending to build efficient healthcare infrastructure by various government organizations is expected to drive the Optometry Equipment Market. For instance, according to Centers for Medicare & Medicaid Services (CMS): 2016-Research Statistics Data and Systems, retail spending for non-durable medical products such as medical instruments and surgical dressings increased by 4.4% to US$ 62.2 trillion in the U.S. in 2016.
According to the World Health Organization (WHO), global reports on Diabetes: 2016, an estimated 62 million people in the Americas were affected with diabetes. Furthermore, 62.85% male and 59.8% of female were reported to shows the prevalence of being overweight in regions of the Americas, putting them under increased risk of diabetes in future. This expected to register high revenue growth in optometry equipment market during forecast period.
Some of the key players operating in the Optometry Equipment Market include
Canon Inc., Carl Zeiss AG, Escalon Services, Inc., Essilor International S.A., Haag-Streit AG, Heidelberg Engineering GmbH, Heine Optotechnik GmbH & Co. KG, Luneau Technology Group, NIDEK CO., LTD., Novartis International AG, and Topcon Corporation.
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AMBULATORY SURGICAL CENTER MARKET ANALYSIS
Ambulatory Surgical Center (ASC), also known as outpatient surgery center or same day care center, is a healthcare facility that focuses on delivering same-day surgical care, including diagnostic and surgical (preventive) procedures.
The global ambulatory surgical center market is estimated to account for US$ 112,823.4 Mn in terms of value by the end of 2027.
Global Ambulatory Surgical Center Market: Drivers
Increasing number of cataract surgeries is expected to propel growth of the global ambulatory surgical center market over the forecast period. Ophthalmic surgeries were one of the firsts to be moved to outpatient settings due to change in Medicare coverage policy, which denied payment for overnight stays for cataract patients. According to the study, ‘The national and subnational prevalence of cataract and cataract blindness in China: a systematic review and meta-analysis’, published in the Journal of Global Health in June 2018, the prevalence of any cataract ranged from 6.71% in people aged 45-49 years to 73.01% in elderly aged 85-89 years in males.
Increasing prevalence of chronic disease is also expected to aid in growth of the global ambulatory surgical center market over the forecast period. For instance, according to the World Health Organization, around 18.1 million new cases and 9.6 million deaths were registered due to cancer worldwide in 2018.
North America region held dominant position in the global ambulatory surgical center market in 2019, accounting for 52.9% share in terms of volume, followed by Europe.
Figure 1. Global Ambulatory Surgical Center Market Value (US$ Mn), by Region, 2019
Global Ambulatory Surgical Center Market: Restraints
However, low physician-to-patient ratio is expected to hinder growth of the global ambulatory surgical center market. For instance, according to Competition Commission of South Africa’s preliminary health market inquiry findings released in July 2018, the estimated yearly average of doctors per 1,000 patients was 1.75 in the private sector between 2010 and 2014.
Moreover, disappearance of out-of-network reimbursement is also expected to hinder growth of the market. This can be attributed to pressure of payors on physicians and patients to choose in-network providers for their referrals and encounters.
Global Ambulatory Surgical Center Market: Opportunities
Adoption of joint venture strategies in establishing new ASCs is expected to offer lucrative growth opportunities for players in the market. In current scenario, decreased revenue in ASCs suggests for joint venture as it may reduce initial investment cost and partially decrease downside financial risk.
Moreover, key players also need to assess barriers to shifting cases from hospitals to ASCs. This can help in addressing inability of ASCs in achieving required volume threshold to generate revenue.
Gastroenterology segment in the global ambulatory surgical center market was valued at US$ 24,279.6 Mn in 2019 and is expected to reach US$ 35,598.1 Mn by 2027 at a CAGR of 4.9%% during the forecast period.
Market Trends/Key Takeaways
In the U.S., majority of ASCs are at least partially owned by physicians or physician groups. This allows for timely procedures in ASCs. Moreover, such ASCs do not face issues of shortage of operating rooms, delay or rescheduling due to staffing issues or competing demands for operating room space from emergency cases.
Among procedures, contract removal/lens insertion, arthroscopy, upper gastrointestinal procedures, and colonoscopy are the most performed procedure in ASCs.
Regulations
U.S.
Alabama Department of Public Health
ASC Definition
Any health care facility with the primary purpose of providing medically necessary or elective surgical care
Licensing Requirements
All hospitals must obtain a license, and "ambulatory surgical treatment facilities for patients not requiring hospitalization" are included in the definition of hospital.
Global Ambulatory Surgical Center Market: Competitive Landscape
Major players operating in the global ambulatory surgical center market include, AmSurg Corp., HCA Holdings, Inc., Tenet Healthcare, Surgical Care Affiliates, Inc., Surgery Partners, Ambulatory Surgical Centers of America, Heathway Medical Group, Community Health Systems, Inc., and Vision Group Holdings.
Global Ambulatory Surgical Center Market: Key Developments
Key players in the market are focused on establishing new ASCs. For instance, in January 2020, Grady Health System choose Skanska and its joint venture partner H.J. Russell & Co. to build a new Center for Advanced Surgical Services in Atlanta.
In May 2019, Healthway Medical Corporation announced to start Healthway Screening @ Downtown in Singapore.
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Can Startups Save Primary Care?
By ANDY MYCHKOVSKY
Today, primary care is considered the bee’s knees of value-based care delivery. Instead of being viewed as the punter of the football team, the primary care physician (PCP) has become the quarterback of the patient’s care team, calling plays for both clinical and social services. The entire concept of the accountable care organization (ACO) or patient-centered medical home (PCMH) crumbles without financially- and clinically-aligned PCPs. This sea change has resulted in rapid employment or alignment to health systems, as well as a surge in venture capital being invested into the primary care space.
Before we get too far in the weeds, let’s first begin with the definition of primary care. The American Academy of Family Physicians (AAFP) defines a primary care physician as a specialist typically trained in Family Medicine, Internal Medicine, or Pediatrics. Some women do use their OB/GYN as their PCP, but these specialists are not traditionally considered PCPs. Now if you’ve gone to your local PCP and noticed that your care provider is not wearing a white coat with the “MD” or “DO” credentials, you are either receiving treatment from a hipster physician, nurse practitioner (NP), or physician assistant (PA). Two of the three professionals are trained in family medicine and can provide primary care services under the responsibility of an associated PCP. At least one of the three has a beard.
The crazy thing is, despite the industries heightened focus on the importance of PCPs, we’re still expecting a shortage of primary care providers. In April 2019, the Association of American Medical Colleges (AAMC) released a report estimating a shortage of between 21,100 and 55,200 PCPs by 2032. Given we just passed 2020, this not that far off. The primary reason for the shortage is the growing and aging population. Thanks mom and dad. Digging into the numbers will really knock your socks off, with the U.S. Census estimating that individuals over the age of 65 will increase 48% over that same time period. Like a double-edged sword, the issue is not just on the patient demand side though. One-third of all currently active doctors will be older than 65 in the next decade and could begin to retire. Many of these individuals are independent PCPs who have resisted employment by large health systems.
Now the easiest solution would be to wave a magic wand and dramatically increase the supply of medical students selecting primary care versus other specialties. However, in the absence of any Hogwarts-trained healthcare enthusiasts, we have to face the realities of today’s medical school situation. 75% of medical school students in the class of 2018 graduated with student debt, with the average loan debt of $196,520. With that loan balance, you’d owe approximately $2,212 a month on a standard, 10-year federal repayment plan. If you compare that with the earning potential, pediatrics and family medicine are consistently among the lowest paid specialties. According to Medscape, in 2019 PCPs earned an average of $237,000, while specialists earned an average of $341,000. That is a big difference. This all despite the fact that according to a Merritt Hawkins report estimating PCPs generated $2.1 million for their affiliated hospitals in the previous 12 months. This referral value to the hospital even exceeded Otolaryngology ($1.9 million), despite the fact the average annual physician compensation for an Otolaryngologist is $471,000.
The other important characteristic that healthcare economists and researchers have closely monitored is increase in hospital employment and alignment of PCPs versus physicians who own their own independent practices. The fear being that employed PCPs have the potential to refer testing, therapies, and services back to the mothership hospital, as opposed to independent specialists, labs, ambulatory surgical centers, or imaging centers. These hospitals charge considerably higher professional and facility fees, particularly for commercially insured patients. The crazy part of value-based care is that some of the clinically integrated network (CIN) provisions and waivers associated with primary care allow hospitals to align networks of independent PCPs and ensure they receive much higher negotiated rates. Aligning PCP networks to highly motivated and sophisticated health systems who are actively involved in significant downside risk contracts has clear benefits, but the potential for inefficiency and shoring up referral patterns does exist.
Now back to the world of healthcare startups as they relate to primary care. I’ve said it before and I’ll say it again, the successful One Medical (NASDAQ: ONEM) IPO was the single best thing for primary care startups. Yes, they focus on a particular clientele (commercially insured in urban markets). Yes, they are charging a $199 annual fee for access to their care that many Americans cannot afford. Yes, they will likely grow revenue through higher volume and negotiated reimbursement contracts by partnering with health systems, referred to as health networks. However, 3 weeks after the IPO, the company maintains a market valuation cap of $2.8 billion with nine months of net revenue equaling $199 million and $34 million is losses during the same time period. That is impressive and should be encouraging for current PCP startups.
There are a ton of other primary care focused startups and companies that should not be overshadowed. Each takes on a slightly different approach, whether they focus on a specific population (e.g., Medicare Advantage), actually employ physicians themselves, or serve as administratively- and clinically-aligned vendors for networks of PCPs. I strongly believe in the value of these organizations using technology-driven communication, remote monitoring, home care, and intensive wrap-around care management services for complex populations to offer a new model of care.
If there was ever a downside for creating the primary care-led revolution towards value-based care, I believe it would be the production of charlatans claiming to “primary care consultants” or point-solutions that only affect a sliver of the problem. I see lots of claims related to SAAS startups who utilize an AI-based, machine learning analytics program that spits out a list of high-risk patients. After many years trying to squeeze clinical and financial value out of total-cost-of-care models, that is no longer enough. In my opinion, PCPs should seek partners who can not only provide technology, but also have clinical resources and are willing to stand by their performance in terms of compensation. No guaranteed PMPMs if performance doesn’t add measurable and definitive value, unless the organization is willing to take downside risk exposure. They also need to help your PCP organization understand how to set the rules of the game in your advantage. Otherwise, you will never win regardless of performance (e.g., trend rates, minimum savings thresholds, rebasing, shared savings, etc.).
Now I’m not claiming I know everything, but my experience was borne out of helping health systems and physician groups across the country manage total-cost-of-care contracts in Medicare fee-for-service (FFS), Medicare Advantage, Commercial, and Medicaid managed care while at Evolent Health. For those unaware, Evolent Care Partners is a solution focused on enabling independent PCPs with the capital and resources needed to participate and succeed within two-sided contracts. In addition to Evolent Health, there are a bunch of other primary care startups that I appreciate. They did not pay me (although I should’ve asked before), but here are a few startups that I would research before thinking about primary care in a value-based care world.
One Medical: Provider for Commercial
Iora Health: Provider for Medicare
Oak Street Health: Provider for Medicare
ChenMed: Provider for Medicare
Privia Health: Population health management partner for primary care
VillageMD: Population health management partner for primary care / provider
Aledade: Population health management partner for independent primary care
At the end of the day, primary care still receives a pitiful amount of the total spend in healthcare. The best estimates believe only 5-7% of healthcare spending devoted to primary care. In a RAND Corporation study, researchers predicted 2.12-4.88% of total Medicare fee-for-service medical and prescription drug spending. However, the power of referral, care management, and addressing the social determinants of health (e.g., housing, food, transportation, etc.) holds the promise of a better tomorrow. I am hopeful that the trends over the past few years will continue and new startups will be developed that further innovate on the $260 billion primary care market in the U.S..
Andy Mychkovsky is the creator of Healthcare Pizza, where this article first appeared.
The post Can Startups Save Primary Care? appeared first on The Health Care Blog.
Can Startups Save Primary Care? published first on https://venabeahan.tumblr.com
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Can Startups Save Primary Care?
By ANDY MYCHKOVSKY
Today, primary care is considered the bee’s knees of value-based care delivery. Instead of being viewed as the punter of the football team, the primary care physician (PCP) has become the quarterback of the patient’s care team, calling plays for both clinical and social services. The entire concept of the accountable care organization (ACO) or patient-centered medical home (PCMH) crumbles without financially- and clinically-aligned PCPs. This sea change has resulted in rapid employment or alignment to health systems, as well as a surge in venture capital being invested into the primary care space.
Before we get too far in the weeds, let’s first begin with the definition of primary care. The American Academy of Family Physicians (AAFP) defines a primary care physician as a specialist typically trained in Family Medicine, Internal Medicine, or Pediatrics. Some women do use their OB/GYN as their PCP, but these specialists are not traditionally considered PCPs. Now if you’ve gone to your local PCP and noticed that your care provider is not wearing a white coat with the “MD” or “DO” credentials, you are either receiving treatment from a hipster physician, nurse practitioner (NP), or physician assistant (PA). Two of the three professionals are trained in family medicine and can provide primary care services under the responsibility of an associated PCP. At least one of the three has a beard.
The crazy thing is, despite the industries heightened focus on the importance of PCPs, we’re still expecting a shortage of primary care providers. In April 2019, the Association of American Medical Colleges (AAMC) released a report estimating a shortage of between 21,100 and 55,200 PCPs by 2032. Given we just passed 2020, this not that far off. The primary reason for the shortage is the growing and aging population. Thanks mom and dad. Digging into the numbers will really knock your socks off, with the U.S. Census estimating that individuals over the age of 65 will increase 48% over that same time period. Like a double-edged sword, the issue is not just on the patient demand side though. One-third of all currently active doctors will be older than 65 in the next decade and could begin to retire. Many of these individuals are independent PCPs who have resisted employment by large health systems.
Now the easiest solution would be to wave a magic wand and dramatically increase the supply of medical students selecting primary care versus other specialties. However, in the absence of any Hogwarts-trained healthcare enthusiasts, we have to face the realities of today’s medical school situation. 75% of medical school students in the class of 2018 graduated with student debt, with the average loan debt of $196,520. With that loan balance, you’d owe approximately $2,212 a month on a standard, 10-year federal repayment plan. If you compare that with the earning potential, pediatrics and family medicine are consistently among the lowest paid specialties. According to Medscape, in 2019 PCPs earned an average of $237,000, while specialists earned an average of $341,000. That is a big difference. This all despite the fact that according to a Merritt Hawkins report estimating PCPs generated $2.1 million for their affiliated hospitals in the previous 12 months. This referral value to the hospital even exceeded Otolaryngology ($1.9 million), despite the fact the average annual physician compensation for an Otolaryngologist is $471,000.
The other important characteristic that healthcare economists and researchers have closely monitored is increase in hospital employment and alignment of PCPs versus physicians who own their own independent practices. The fear being that employed PCPs have the potential to refer testing, therapies, and services back to the mothership hospital, as opposed to independent specialists, labs, ambulatory surgical centers, or imaging centers. These hospitals charge considerably higher professional and facility fees, particularly for commercially insured patients. The crazy part of value-based care is that some of the clinically integrated network (CIN) provisions and waivers associated with primary care allow hospitals to align networks of independent PCPs and ensure they receive much higher negotiated rates. Aligning PCP networks to highly motivated and sophisticated health systems who are actively involved in significant downside risk contracts has clear benefits, but the potential for inefficiency and shoring up referral patterns does exist.
Now back to the world of healthcare startups as they relate to primary care. I’ve said it before and I’ll say it again, the successful One Medical (NASDAQ: ONEM) IPO was the single best thing for primary care startups. Yes, they focus on a particular clientele (commercially insured in urban markets). Yes, they are charging a $199 annual fee for access to their care that many Americans cannot afford. Yes, they will likely grow revenue through higher volume and negotiated reimbursement contracts by partnering with health systems, referred to as health networks. However, 3 weeks after the IPO, the company maintains a market valuation cap of $2.8 billion with nine months of net revenue equaling $199 million and $34 million is losses during the same time period. That is impressive and should be encouraging for current PCP startups.
There are a ton of other primary care focused startups and companies that should not be overshadowed. Each takes on a slightly different approach, whether they focus on a specific population (e.g., Medicare Advantage), actually employ physicians themselves, or serve as administratively- and clinically-aligned vendors for networks of PCPs. I strongly believe in the value of these organizations using technology-driven communication, remote monitoring, home care, and intensive wrap-around care management services for complex populations to offer a new model of care.
If there was ever a downside for creating the primary care-led revolution towards value-based care, I believe it would be the production of charlatans claiming to “primary care consultants” or point-solutions that only affect a sliver of the problem. I see lots of claims related to SAAS startups who utilize an AI-based, machine learning analytics program that spits out a list of high-risk patients. After many years trying to squeeze clinical and financial value out of total-cost-of-care models, that is no longer enough. In my opinion, PCPs should seek partners who can not only provide technology, but also have clinical resources and are willing to stand by their performance in terms of compensation. No guaranteed PMPMs if performance doesn’t add measurable and definitive value, unless the organization is willing to take downside risk exposure. They also need to help your PCP organization understand how to set the rules of the game in your advantage. Otherwise, you will never win regardless of performance (e.g., trend rates, minimum savings thresholds, rebasing, shared savings, etc.).
Now I’m not claiming I know everything, but my experience was borne out of helping health systems and physician groups across the country manage total-cost-of-care contracts in Medicare fee-for-service (FFS), Medicare Advantage, Commercial, and Medicaid managed care while at Evolent Health. For those unaware, Evolent Care Partners is a solution focused on enabling independent PCPs with the capital and resources needed to participate and succeed within two-sided contracts. In addition to Evolent Health, there are a bunch of other primary care startups that I appreciate. They did not pay me (although I should’ve asked before), but here are a few startups that I would research before thinking about primary care in a value-based care world.
One Medical: Provider for Commercial
Iora Health: Provider for Medicare
Oak Street Health: Provider for Medicare
ChenMed: Provider for Medicare
Privia Health: Population health management partner for primary care
VillageMD: Population health management partner for primary care / provider
Aledade: Population health management partner for independent primary care
At the end of the day, primary care still receives a pitiful amount of the total spend in healthcare. The best estimates believe only 5-7% of healthcare spending devoted to primary care. In a RAND Corporation study, researchers predicted 2.12-4.88% of total Medicare fee-for-service medical and prescription drug spending. However, the power of referral, care management, and addressing the social determinants of health (e.g., housing, food, transportation, etc.) holds the promise of a better tomorrow. I am hopeful that the trends over the past few years will continue and new startups will be developed that further innovate on the $260 billion primary care market in the U.S..
Andy Mychkovsky is the creator of Healthcare Pizza, where this article first appeared.
The post Can Startups Save Primary Care? appeared first on The Health Care Blog.
Can Startups Save Primary Care? published first on https://wittooth.tumblr.com/
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American Well: B2B or DTC? Marketing Challenges of a Healthcare Startup
American Well was born with the mission to leverage technological developments to bring affordable, convenient access to quality care to everyone in the U.S. It was also born at an interesting time in the political and social arena in the United States, when a lot of uncertainty dominated the healthcare industry as President Obama vowed to reforming the health care system. Yet, American Well launched into this volatile environment to deliver their novel Online Care solution.
Their Online Care solution did indeed represent a strong value proposition, especially for patients (in the form of convenience, time, quality, affordability, personalization, elimination of shame, and more) and doctors (as flexibility and alleviating need for infrastructure to practice). Surprisingly though, American Well chose to not play on the direct-to-consumer (DTC) model and rather opted for a B2B model, targeting health insurance companies as their primary market. This move was thought to be a way to create a competitive advantage and differentiation for American Well. This decision offered a clear value proposition in savings benefits, and thinking about the long-term, it also had a lot of potential, especially as this B2B model where the health insurance companies act as “aggregators” could ease the process of scaling the company and generate recurring revenue.
However, the challenges of the B2B model, where American Well depended on the insurance companies to get on-board and promote the service to patients, providers, and employers, hindered their marketing efforts, especially as these potential clients raised so many concerns. These included physicians’ fear of malpractice litigation, consumer overutilization, recruiting sufficient doctors into the system, practicing without performing an actual physical exam, and of course, privacy.
So as American Well looked into the future and wondered they should target another potential market (i.e., hospitals, retail clinics, or pharmacy chains), expand internationally, start pitching and developing Team Edition as an extension to the current product, or simply focus on the core product, I believe it is important to consider that their ultimate goal was being the market leader in enabling online care. To do that, American Well needed to cross the chasm to move along the market S-Curve into adoption by the early majority. The health insurance companies market they were already addressing actually provided a great transition into the retail clinic market, which could eventually lead them to a more DTC model. In particular, I believe this is the right move because interestingly enough, their research had “revealed patient’s preference to receive care – even Online care – at dedicated care sites such as retail clinic,” which is almost at odds to their core product “value” offering for patients. This transition into the retail clinic through Online care kiosks didn’t require significant changes to the product, and instead, had the potential to bring American Well’s name to more visible placements for patients themselves and to build the brand’s reputation and trust through these more established retail centers. Lastly, this follow-on market likely won’t bring on a tension for the insurance providers, but rather further cost savings. Finally, pursuing the development of Team Edition is also critical in continuing to build and strengthen the value proposition for doctors, health insurers, and patients alike, and therefore a product that American Well should continue developing and planning to launch. Because Team Edition has the potential to create a more comprehensive solution for all the parties involved, it makes sense and is almost necessary as an extension of the core product to allow American Well to become the leader in enabling online care.
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