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Strong Market for Digital Health Solutions Aimed at Closing Information Gaps in Patient Care, finds Frost & Sullivan
Research PREVIEW for
Care Coordination Software: Overview and Outlook, 2014-2020
Emerging Technologies to Support Team-Based Care
Key Highlights
• Care Coordination Software refers to applications that are specifically designed to enable team-based patient care, particularly for at-risk patients with chronic conditions and for patients transitioning between care settings (e.g., hospital to home). The definition for care coordination software is not pristine and there are many health IT solutions—from rudimentary to robust—that can potentially fit into this bucket, a situation that causes considerable confusion for potential customers.
• To enable team-based care and ensure smooth care transitions and efficient use of healthcare resources, care coordination software should be flexible and extensible, with corresponding accountability, transparency of information, and ability to provide analysis and reporting among key stakeholders.
• Most care coordination software solutions are designed to work with data and information from customers’ existing health IT infrastructure such as EHRs, claims systems, or other enterprise homegrown or commercial IT solutions. These care coordination solutions can be categorized as bolt on or point solutions, or may even be offered as modules of EHRs or HIE systems.
Source: Frost & Sullivan
Value Proposition for Care Coordination Software by Key Market Segments
Expected Benefit/ROI
Market SegmentGoals for Using
Care Coordination Software
How Different Market Segments are Thinking About Their Need for Care Coordination Software
Hospitals
• Avoid financial penalties by improving patient care
• Achieve higher patient satisfaction scores and improve competitive market position
Payers
• Better data for predictive analytics needed to drive population health programs
• Reduction of financial risk by targeting highest cost patient population
Physicians
• Augment EHR data and functionality; close information gaps and loopholes
• Create new revenue streams from chronic care management and quality improvements
• Identify high cost members• Drive value and manage financial
risks by controlling unnecessary costs
• Help providers improve quality and efficiency of patient care.
• Prevent potential financial penalties due to early readmissions, reduce medical errors, improve efficiency
• Enable functionalities for accountable care/population health and clinical integration
• Manage patients as they traverse various care settings including the home
• Help patients stay motivated and connected between office visits.
Source: Frost & Sullivan
Drivers and Restraints
Continued Entrenchment of Fee for Service Reimbursement
Slow Uptake of Purchasing New IT for Population Health and Care Coordination Due to Competing IT Priorities
Financial Constraints Among Providers Limit Willingness to Invest in Care Coordination IT
1-2 years 2-3 years 4-5 years
The Affordable Care Act Changes Financial Risk Dynamics and Drives Need for Population Health
Move to Value-Based, Quality Driven Reimbursement Demands Tighter Control and Integration Across the Care Continuum
CMS Issues New Rules for Reimbursement of Chronic Disease Management M
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Impact: High Medium Low Source: Frost & Sullivan
Total Care Coordination Software Market: Top Three Market Drivers and Restraints, US, 2015–2020
CEO’s Perspective
Source: Frost & Sullivan
2The care coordination software market is highly fragmented, consisting of hundreds of vendors and products offering a range of robust to rudimentary functionality related to patient care management.
3While the patient care coordination function most appropriately resides with primary care physicians, the key purchaser for care coordination software is mostly at the enterprise level—payers, ACOs, IDNs, large hospitals.
4EHRs have been widely adopted by healthcare providers but most systems are siloed and lack interoperability and functionality needed for care coordination, thus opening new market opportunities for IT vendors.
5The market for care coordination solutions will grow significantly and will be increasingly competitive; vendor success will depend on offering a full suite of comprehensive solutions with demonstrable ROI.
1The concept of “care coordination” means different things to different people; a variety of health IT vendors are latching on to this term to sell solutions designed to help customers transition to value-based healthcare.
Section
Executive Summary
Market Background
Introduction to Care Coordination
The Role of Information Technology in Care Coordination
Total Care Coordination Software Market
• Drivers, Restraints and Trends
• Forecast and Trends
Forecast and Trends—Market Segments
Demand Analysis
Competitive Environment
The Last Word
Appendix
The Full Analysis Features the Following Content
List of Exhibits
Exhibit
US Care Coordination Software: Frost & Sullivan Research Methodology, 2015
Care Coordination Software: Percent Revenue Allocation by Market Segment, US, 2014
Care Coordination Software: Market Engineering Measurements, US, 2014
Total Care Coordination Software: Estimated Penetration by Market Segments, US, 2015
Total Care Coordination Software: Market Segmentation, US, 2015
Care Coordination Software: Percent Revenue Allocation by Market Segment, US, 2014
Total Care Coordination Software Market: Distribution Structure, US, 2015
Total Care Coordination Software Market: Key Market Drivers, US, 2015–2020
Total Care Coordination Software Market: Top Strategies to Prevent Hospital Admissions, US, 2013
Total Care Coordination Software Market: Key Market Restraints, US, 2014–2020
Total Care Coordination Software Market: Market Engineering Measurements, US, 2014
Total Care Coordination Software Market: Revenue Forecast, US, 2014–202
List of Exhibits (continued)
Exhibit
Total Care Coordination Software Market: Percent Revenue Forecast by Segment, US, 2013–2020
Total Care Coordination Software Market: Revenue Forecast by Segment, US, 2014–2020
Care Coordination Software for Payer Segment: Market Engineering Measurements, US, 2014
Care Coordination Software for Payer Segment: Revenue Forecast, US, 2014–2020
Care Coordination Software for Payer Segment: Revenue Forecast and Percentage Total Revenue, US, 2014 and 2020
Care Coordination Software for Hospital Segment: Market Engineering Measurements, US, 2014
Care Coordination Software for Hospital Segment: Revenue Forecast, US, 2014–2020
Care Coordination Software for Hospital Segment: Revenue Forecast and Percentage Total Revenue, US, 2014 and 2020
Care Coordination Software for Physician Segment: Market Engineering Measurements, US, 2014
Care Coordination Software for Physician Segment: Revenue Forecast, US, 2014–2020
List of Exhibits (continued)
Exhibit
Care Coordination Software for Physician Segment: Revenue Forecast and Percentage Total Revenue, US, 2014 and 2020
Care Coordination Software: Penetration Analysis for Payer Segment, US, 2014
Care Coordination Software: Penetration Analysis for Hospital Segment, US, 2014
Care Coordination Software: Competitive Market Structure, US, 2014
Care Coordination Software: Select Market Participants By Tiers of Competition, US, 2014
Care Coordination Software: Competitive Market Structure, US, 2014
Care Coordination Software: Competitive Market Structure, US, 2014
Care Coordination Software: Competitive Market Structure, US, 2014
Care Coordination Software: Competitive Market Structure, US, 2014
Care Coordination Software: Notable Industry Deals, US, 2014 and 2015
Care Coordination Software: Select Companies and Products, US, 2014
Care Coordination Software: Definitions for Select Terms, US, 2015
Key Questions This Study Will Answer
What is care coordination software and how are these solutions being deployed by three key market segments – healthcare payers, hospitals and physicians?
What are the market-shifting macro trends impacting the need to deploy new IT solutions to enable patient care coordination and transitions of care across dispersed settings?
What are the specific drivers and restraints impacting the care coordination software market in the US over the next 5 years?
What are the competitive characteristics of the care coordination software market and who are some of the key IT vendors serving the market for healthcare payers, hospitals and physicians?
What is the 6-year revenue outlook for the care coordination software market across the healthcare payer, hospital, and physician market segments?
Source: Frost & Sullivan
Interested in Full Access? Connect With Us
Kayla BelcherCorporate Communications – North America
210.247.2450
Research Author
Nancy FabozziPrincipal Analyst
Connected Health@nancyfabozzi
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