Referral Management Market is Predicted to Grow at a Double-Rate CAGR by 2022

The healthcare industry witnesses several fundamental transformations as it shifts from quantity-based business to quality-based business. Rising demands from consumers for advanced and improved healthcare have fueled the growth of referral management market. This is because; since the global development of health infrastructure is non-uniform with unmet challenges and rising expectations from consumers, healthcare providers are increasingly adopting referral management solutions that allow them to provide the best at optimized costs. Referral management is an arrangement for patients enabling more proactive care, coordination and better monitoring. Such designs are beneficial as they help in reducing unnecessary and costly care from patient’s point of view and also benefit the healthcare institute as it helps in tracking down the real time patient data and ensures excellent care to be provided to the patient nearest to his/her home.

Full Research Report On Global Referral Management Market Available @ https://www.millioninsights.com/industry-reports/referral-management-market

The major driving factors for the referral management market are encouraging initiative by government to consolidate healthcare IT solutions globally, geriatric population and increasing incidences of chronic disease, benefits of referral management solutions. However, the market restraints are lack of skilled personnel in healthcare IT professionals and security concerns. On the basis of type, the global referral management market is segmented into self-referrals, professional referrals and third-party referrals. On the basis of component, the global referral management market is segmented into software and services. The software segment dominates the market as software is an integral part of referral management and works as an interface between the database and the end user. It is predicted to grow at a double-rate CAGR for the forecast period.

On the basis of delivery mode, the global referral management market is segmented in web-based delivery, on premise delivery and cloud-based delivery. The web-based segment dominated the global market owing to number of health startups, and rise in use of mobile internet. The cloud-based segment is predicted to be the growing market segment for the forecast period. On the basis of end-user, the global referral management market is segmented into providers, patients, payers, employer groups and others. On the basis of geography, the global referral management market is segmented North America, Europe, Asia-pacific, Middle-east and Africa.

North America dominated the global market share owing to encouraging initiatives by government to induce direct or indirect adoption of referral management solutions, rising healthcare costs, aging population and rising incidences or chronic diseases. Similar efforts are witnessed in European and Asian regions as well as the need to procure quality care add to the success of the market. Lancaster Regional medical center stated that it has observed a fall in readmissions and emergency room returns. According to Lancaster CEO Russell Baxley, the hospital wanted to opt for quality-based business but an effective referral management solution was the need of the time. So, the par80 implementation allowed for better communication and a more specific solution was gained to record and retrieve medical admissions and appointments.

Thus, Lancaster reports that the hospital has seen a fall in readmissions and a decrease in emergency room returns within the 48-hour discharge. The patients were found to be more satisfied with the enhanced service. The major players in the global referral management market include Allscripts Healthcare Solutions, Inc., Cerner Corporation, McKesson Corporation, ReferralMD, Harris Corporation, The Advisory Board Company, ehealth Technologies, Eceptionist, Inc., Clarity Health, and Kyruus, Inc.

Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/referral-management-market/request-sample