DUBLIN--(BUSINESS WIRE)--The "Referral Management Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global referral management market is expected to grow from $2.75 billion in 2021 to $3.31 billion in 2022 at a compound annual growth rate (CAGR) of 20.4%. The referral management market is expected to grow to $6.21 billion in 2026 at a CAGR of 17%.
North America was the largest region in the referral management market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Government initiatives to incorporate IT solutions in healthcare systems are expected to propel the growth of the referral management market. Government initiatives refer to an initiative taken by the government. It is an important act or statement that is intended to solve public problems. Information technology is important in the healthcare industry and helps to assist in the delivery of more accurate, actionable, and accessible information related to patients' health.
For instance, in 2021, according to Health care news, an India-based healthcare newspaper, the Indian government launched its latest digital health project named Ayushman Bharat Digital Health Mission. With this mission, the Indian government plans to digitalize health infrastructure in India.
In addition, in 2021, the Ministry of Health and Family Welfare allocated $11.5 billion in the union budget for the development of this project. Therefore, the government initiatives to incorporate IT solutions in healthcare systems are driving the growth of the referral management market.
New product innovations have emerged as a key trend gaining popularity in the referral management market. Major companies operating in the referral management market are introducing new product innovations to meet consumer demand and reinforce their position. For instance, in June 2020, Change Healthcare, a US-based company that provides patent referral management software launched a new application in referral management called Connected Consumer Health.
This is a Virtual Front Desk application that provides a touch-free check-in experience for patients and personnel. It is utilized for direct online check-in and forms that aid in conveying when patients should enter the institution. It also helps to store the previous medical history of the patients.
In January 2021, AristaMD, a US-based company that provides e-consult or online medical consultation and referral management services acquired Preferral for an undisclosed amount. This acquisition helps AristaMD to develop new technologies in referral management. Also, it would help in improving care and providing services at lower costs. Preferral is a US-based company that develops software and referral management system for referral analytics, and online referral forms.
The referral management market consists of sales of referral management services by entities (organizations, sole traders, and partnerships) that are used in health systems to reduce patient leakage, improve care coordination and also provide patients with the care they need. Referral management refers to the process of moving patients to the next level of care. This transition frequently happens when a patient is facing a crucial situation, such as an increase in care or a change in diagnosis.
The main types of referral management are self-referral, professional-referral, and third-party-referral. The self-referral management provides services for drug and alcohol problems, as well as antenatal care and improved access to psychological therapy. This is a physician ordering imaging tests that would be done at a facility he owns or leases.
The different components include software, and services and are delivered through various modes such as web-based delivery mode, cloud-based delivery mode, and on-premise delivery mode. It is used by providers, payers, and other end users.
Major players in the referral management market are
- Allscripts Healthcare LLC;Careport Health
- Advisory Board
- Ehealth Technologies
- Kyruus
- Arcadia Data Inc.
- Dental Care Links
- Mckesson Corporation
- ReferralMD
- Keet Health
- Change Healthcare
- Conifer Health Solutions LLC
- Fibroblast Inc.
- L3Harris Technologies Inc.
Key Topics Covered:
1. Executive Summary
2. Referral Management Market Characteristics
3. Referral Management Market Trends And Strategies
4. Impact Of COVID-19 On Referral Management
5. Referral Management Market Size And Growth
5.1. Global Referral Management Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Referral Management Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Referral Management Market Segmentation
6.1. Global Referral Management Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Self-Referral
- Professional-Referral
- Third Party-Referral
6.2. Global Referral Management Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Software
- Services
6.3. Global Referral Management Market, Segmentation By Delivery Mode, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Web-Based Delivery Mode
- Cloud-Based Delivery Mode
- On-Premise Delivery Mode
6.4. Global Referral Management Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Provider
- Payer
- Other End Users
7. Referral Management Market Regional And Country Analysis
7.1. Global Referral Management Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Referral Management Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/xc9b4f
