North America Quality Management in Healthcare Market by Software (BI, Analytics, Reporting, Performance Improvements), Mode of Delivery (Cloud, Web, on premise), Application (Data, Risk Management) & End User (Hospital, Ambulatory Care, Payor) - Forecast to 2024
North America quality management in healthcare is expected to grow at a CAGR of 15.8% from 2018 to reach $2.95 billion by 2024.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and challenges. The factors such as government initiatives to improve patient outcomes & safety, rising unstructured data in healthcare, rising geriatric population & burden of chronic diseases, and improving health IT infrastructure drive the growth of this market. However, data privacy & confidentiality issues, lack of interoperability, and reluctance to migrate from conventional systems is expected to hinder the growth of healthcare quality management solutions market to some extent.
Business intelligence and analytics are widely adopted owing to the ability of analytics to extract meaningful, actionable insights from the wealth of raw information that is the key to improve quality and patient outcomes.
Hospitals commanded the largest share of North America quality management in healthcare market in 2017 with growing HCIT adoption, increasing focus on quality care and patient safety, significant growth in healthcare spending and venture capital investments in HCIT, rising medical error rates, increasing healthcare costs, and government mandates to follow quality measures and reporting.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the two major countries in North America (U.S. and Canada). The U.S. commanded the largest share of the North America quality management in healthcare market in 2017, followed by Canada. The large share of this country is mainly attributed to factors such as rising need to curtail growing healthcare costs and improve patient outcomes, implementation of Affordable Care Act (ACA) in the U.S., stringent legislative and accreditation requirements regarding healthcare quality reporting, shift from fee-for-service to value-based reimbursements, growing patient data volume, high awareness and adoption of healthcare IT technologies, regulatory requirements to minimize medical errors and clinical risk, and presence of a large number of healthcare IT companies in the country.
Some of the major players operating in the North America quality management in healthcare market research report includes McKesson Corporation, Medisolv, Inc., Nuance Communication, Inc., Quantros, Inc., Dimensional Insight, Inc., Dolbey Systems, Inc., Verscend Technologies, Inc., MedeAnalytics, Inc., CitiusTech Inc., Conduent, Inc., ArborMetrix, Inc. (Change Healthcare), Altegra Health, General Dynamics Health Solutions, Cognizant Technology Solutions Corporation, 3M Company, Truven Health Analytics (IBM Watson Health), and Persivia, among others.
Scope of the report
Market by Software Type:
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