Global Healthcare Finance Solutions Market: An Overview
US healthcare programs like Medicaid among others have tied financial reimbursement with digital adoptions. According to new guidelines, the digital adoptions are highly essential for improving patient care with better delivery and results. These new guidelines are likely to drive robust growth for 24/7 patient care, interactive portals for patients to digitise their information to communicate with the agency, among others. The implementation of these guidelines is likely to drive robust growth for players in the healthcare finance solutions market.
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Global Healthcare Finance Solutions Market: Notable Developments
According to a recent report, healthcare costs are expected to go up by 5% next year. Additionally, despite the steep increase, nearly 2 out 3 employers see affordability as a key challenge in adapting healthcare plan. These costs rose by 4% in 2019, now, they are likely to enjoy a steeper increase. However, despite the barriers, many employers feel that they would likely sponsor healthcare plans for their employees. The employers also show 74% willingness to sponsor these plans for next 10 years. Nearly 90% of employers believe that healthcare is the key stress-maker for their employees and their families.
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According to National Academy of Medicine Report, over 45 to 60% nurses and physicians are overworked in United States. Moreover, according to the report, there is a direct connection between safety and quality of healthcare and the burnout. The report sheds light on one of the major issues in the healthcare sector. The burden on physicians and the nurses to take care of insurance coverage, and other administration tasks has also been pointed out as a cause for poor quality. This promises to be a major opportunity for players in the healthcare finance solutions market. The digital finance solutions can also considerable reduce time taken to fill medical forms and make payments, and reduce one of the core and unnecessary burden on physicians and nurses across hospitals, clinics, and other medical facilities.
Global Healthcare Finance Solutions Market: Trends and Drivers
Global healthcare finance solutions market is expected to witness major growth, thanks to rising digital adoption across industries, and its several major benefits to healthcare in particular. Healthcare industry suffers from high administrative costs, wherein patients medical records are often key determinants to quality testing and diagnosis. Moreover, maintaining records for payments and concerned record is also extremely difficult. The growing demand for digital finance solutions and their potential ease for operations are key to driving growth for healthcare finance solutions market.
Moreover, growing push by government agencies to adopt digital solutions for availing financial reimbursement through programs like MediCaid will be key to drive growth as well. The rising demand for cloud solutions will also result in significant opportunities in the near future. Cloud solutions promise to automate processing of financial records, connect with insurance providers with ease, and do so without troubling the already overworked staff in the healthcare sector. The growth of such solutions is expected to emerge as key driver in the healthcare finance solutions market.
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Global Healthcare Finance Solutions Market: Geographical Analysis
The global healthcare finance solutions market report will cover all key regions including North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among these, North America is expected to drive considerable growth, thanks to major tech companies operating in the region, and growth of commercial healthcare sector. Recently, major tech companies like Microsoft and Humana have tied up to engage in next-gen predictive analysis of patients. The advancement in technologies like Big Data, Cloud solutions among others will drive major growth in the region as well.