The Medical Case Management Services Market to Be Driven By the Use of Natural Language Processing

The Medical Case Management Services Market is slated to grow on a stellar note going forward. The current situation is that digitization, which has the capacity of changing the dynamics of any vertical, has made a beeline to the healthcare vertical. The world out there no more depends on references for choosing healthcare services but goes for 360-degree research before arriving at the final decision. This would be the digitized healthcare vertical in the future.
The Medical Case Management Services Market is expected to grow on a healthy note further. The current scenario is such that virtual monitoring tools are being called for. They act as a precision factor for the healthcare vertical. With the turning out to be more accessible for patients and providers alike, several post-operative intervention options are being made available for preventing hospital re-admittance and complications. With cost-effectiveness rendered as well, the healthcare vertical is expected to take off on a flourishing note going forward.

The global medical case management services market features the dominance of a handful of big players that hold leading market shares. Large players are focused on expanding their presence in regional markets through partnerships and strategic collaborations with regional players. A case in point is GENEX Services Inc. In 2014, the company acquired M Hayes - a leading case medical case management firm that specializes in workers' compensation and disability insurance.

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The global medical case management services market is predicted to clock a CAGR of 3.04% for the forecast period between 2017 and 2021. Expanding at this pace, the market's valuation of US$4573.4 mn in 2017 will become US$5,155.1 mn by the end of 2021.

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Company Profiles:

GENEX Services Inc.
Europ Assistance - Global Corporate Solutions.
Medical Case Management Group.
EK Health Services Inc.
EagleOne Case Management Solutions, Inc.
Axiom Medical Consulting, LLC.
Healthcare Solutions Inc.
Managed Medical Review Organization Inc.
Precyse Solutions LLC.
Other.

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Hospitals End-use Segment to Contribute Leading Revenue

The global medical case management service market is studied in terms of mode of service, severity of case, end user, and region. Depending upon mode of service, web-based, field case, bilingual field, telephonic, and other services are the segments into which the medical case management services market is divided. Of them, telephonic case management service market is expected to continue to hold leading market share over the forecast period. Web-based medical case management service currently holds the second-leading share in this market; the segment anticipated to lose 40 BPS over the forecast period between 2017 and 2021.

By end user, the medical case management service market is bifurcated into hospitals and home care settings. Of the two, hospitals is anticipated to account for the leading revenue contribution to the medical case management service market in the near future. This is mainly because of increasing rate of hospitalization coupled with increasing healthcare expenditure to opt for best treatment option. The increasing prevalence of chronic and long-term diseases also account for leading market share of hospital end-use segment. On the other hand, home care settings segment is predicted to exhibit a sluggish growth rate as very few people opt for home treatments for serious health conditions and severe injury.

Depending upon severity of case, the medical case management service market is segregated into chronic pain case management, catastrophic case management, independent medical examinations, short-term disability, and long-term disability. Among them, long-term disability accounts for the leading revenue contribution to the overall market. Chronic pain case management segment is predicted to remain attractive through the forecast period.

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North America to Continue to Remain at the Forefront

On the basis of geography, the medical case management service market is divided into Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific. North America, among them, holds supremacy in the overall market; going forward, the region is anticipated to hold on to its dominant position. Europe ranks as the second-leading region due to substantial adoption of health insurance policy in the region. Asia Pacific medical case management services market is anticipated to emerge attractive due to rising medical tourism in emerging economies of the region.

To summarize, the global medical case management services market is driven by rising healthcare expenditures and increasing prevalence of chronic diseases. Medical case management services aids to avoid unnecessary hospital admissions and helps to deliver informed patient care.

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