Population Health Management Market Is Likely To Reach USD 89.5 Billion By 2025: Grand View Research, Inc.
The population health management (PHM) market was valued at USD 20.7 billion in 2015 and is anticipated to reach a value of USD 89.5 billion by 2025, according to a new report by Grand View Research, Inc. Global healthcare costs are rising constantly, which is inevitable with the increase in chronic diseases and geriatric population. It is a major concern and the best option available to reduce expenses and contain high-cost medical care. To achieve this, providers need patient-centric data in order to trace patients who are at risk of poor health outcomes. In technical terms, this is known as a change from fee-for-service (FFS) to a value-based payment (VBP) model, which is expected to be the leading market driver for population health management. Major market drivers are increasing efforts to contain rising healthcare costs, rising demand for solutions supporting value-based care delivery, and increasing demand for effective disease management. Providers accounted fo...