Referral Management Market: Market Segments: By Type (Inbound and Outbound); By Component (Software [Integrated, Standalone], Services); By Deployment Model (Cloud-Based and On-Premise); By End User (Providers, Payers and Others); and Region – Global Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030

Product Overview

Referral Management System is a method commonly used by health care providers in health care centers such as clinics, hospitals, etc. to keep track of patient referral data during their treatment time. It primarily focuses on enhancing coordination between the various healthcare providers involved in the treatment of patients. It also assists in monitoring the revenue period of the patient and effectively handling the claims.

Market Highlights

Referral Management Market is expected to project a notable CAGR of 17.6% in 2030.

Referral Management Market to surpass USD 6.6 Billion by 2030 from USD 2.6 Billion in terms of value growing at a CAGR of 17.6% throughout the forecast period, i.e., 2020-30. Demand for referral management systems is growing at a fast growth rate due to the rapid incorporation of IT services and technology into healthcare solutions. For example, one of the big breakthroughs in keeping the patient records that are being implemented in health care systems is the electronic health record (EHR).

Referral Management Market: Segments

Software segment to grow with the highest CAGR during 2020-30

Referral Management Market is segmented by component as software and services. The software segment that comprises integrated and standalone software is estimated to lead the market with a share of XX.X% in 2019. Also, the software segment is expected to grow at the highest rate during the forecast period and the growth can be attributed to the increased use of integrated or standalone referral management software in various healthcare facilities for improving efficiency and quality of medical care delivery systems

Referral Management Market: Market Dynamics

Drivers

Growing Geriatric population

Factors such as increase in the ageing population and the prevalence of chronic diseases would drive market growth. The growth of the referral management market in the Asia Pacific region is also expected to help increasing government spending on healthcare systems and the emergence of a large patient pool in highly populated countries such as China and India.

Restrain

Unwillingness to adopt strategies for HCIT

Healthcare IT systems are high-priced software solutions, so many hospitals and doctors continue to rely on existing simple methods, such as fax-based and unorganized patient referral methods, particularly in small and rural areas.

Referral Management Market: Key Players

• Advisory Board

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.

• Allscripts Healthcare Solutions, Inc.

• CERNER CORPORATION

• Eceptionist

• eHealth Technologies

• Harris Corporation

• KYRUUS

• McKesson Corporation

• REFERRALMD

• SCI Solutions, Inc

Referral Management Market: Regions

Referral Management Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.

Referral Management Market in North America led the market with a lion share of XX.X in 2019 and is projected to maintain its lead over the forecast period owing to technological progress, greater penetration rate in healthcare practices of such systems and well-established infrastructure. As the second and third largest markets for referral management, North America was followed by Europe and Asia-Pacific. The growth of the Asia Pacific referral management market is driven by the growing demand for quality treatment at reasonable rates, the increasing geriatric population and the resulting rise in the prevalence of different chronic diseases. The increasing number of patients that has led to increased demand for a network that ensures end-to-end patient treatment to ensure full recovery would drive the growth of the APAC referral management market.

Referral Management Market report also contains analysis on:

Referral Management Market Segments:

By Type:

• Software

• Services

By Component:

• Inbound

• Outbound

By Deployment Model:

• Cloud-Based

• On-Premise

By End-User:

• Providers

• Payers

• Other

• Referral Management Market Dynamics

• Referral Management Market Size

• Supply & Demand

• Current Trends/Issues/Challenges

• Competition & Companies Involved in the Market

• Value Chain of the Market

• Market Drivers and Restraints

FAQs on Referral Management Market

· Which segment is anticipated to hold the largest market share

· At what CAGR is the market anticipated to grow between 2020 and 2030

· Who are the key players in the Referral Management Market

· What could be the challenging factors in the growth of Referral Management Market

· What are the growth drivers for the Referral Management Market