Clinical Risk Grouping Solutions Market is Segmented By Product(Data Analytics, Dashboard, data visualization Tools, Risks Reporting Solutions), By Deployment(Public Cloud, Private Cloud, Hybrid Cloud), By End-User(Healthcare service providers, Clinical research organizations, Pharmaceutical and biotech firms, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Clinical Risk Grouping Solutions Market Size
The Global Clinical Risk Grouping Solutions Market size reached USD 604.31 million in 2022 and is projected to witness lucrative growth by reaching up to USD 1,658.83 million by 2030. The market is exhibiting at a CAGR of 13.9% during the forecast period (2023-2030). The global clinical risk grouping solutions market is anticipated to rise throughout the forecast period due to a rising focus on value-based care and advancements in data analytics and technology.
The clinical risk grouping solutions market is the market for software and solutions that help healthcare organizations assess and manage the clinical risk of their patient populations. These solutions use various algorithms and data analytics techniques to identify patients who are at a higher risk of developing complications or requiring expensive medical interventions.
The market for clinical risk grouping solutions is driven by factors such as the rising focus on value-based care, rising healthcare costs, population health management, advances in data analytics and technology, regulatory and reimbursement changes, improved care coordination, and a patient-centric approach.
Clinical Risk Grouping Solutions Market Scope
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Metrics |
Details |
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CAGR |
13.9% |
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Size Available for Years |
2022-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (USD ) |
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Segments Covered |
Product, Deployment, End-User, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Clinical Risk Grouping Solutions Market Dynamics
Rising Focus On Value-Based Care
Value-based care is a significant driver in the healthcare industry for clinical risk grouping solutions that aims to improve patient outcomes while controlling costs. It emphasizes the quality and value of healthcare services delivered to patients rather than the volume of services provided.
Key factors contributing to the increasing focus on value-based care include quality and outcomes, cost control, payment reform, population health management, patient-centered care, data and analytics, and shifts in reimbursement models.
The healthcare industry is transitioning from a fee-for-service model to a value-based care approach, where providers are rewarded based on patient outcomes and quality of care. Clinical risk grouping solutions are essential for identifying high-risk patients, enabling targeted interventions, and improving population health outcomes.
Advancements in Data Analytics And Technology
Advancements in data analytics and technology are expected to improve the market opportunity by revolutionizing the healthcare industry, providing significant benefits in various areas such as big data and analytics, predictive analytics, precision medicine, telehealth and remote monitoring, Health Information Exchange (HIE), and the Internet of Medical Things (IoMT).
These technologies enable healthcare providers to remotely monitor patient’s vital signs, collect health-related data, and analyze trends and patterns in real-time manner. HIE facilitates the secure sharing of patient data across different healthcare organizations and systems, while IoMT is an interconnected network of medical devices, wearables, sensors, and mobile applications that collect and transmit health-related data.
Advanced analytics techniques, artificial intelligence, and machine learning have improved clinical risk grouping solutions, allowing for more accurate risk assessment, predictive modeling, and real-time monitoring, enabling timely interventions and informed decision-making.
Regulatory and Legal Challenges
The regulatory and legal challenges associated with the clinical risk grouping are the major factors hampering the market growth. The healthcare industry is subject to complex regulations, which can make it difficult to implement clinical risk grouping solutions. Compliance with data protection laws, privacy regulations, and reimbursement policies requires careful consideration and can add to the complexities of implementing these solutions.
Clinical Risk Grouping Solutions Market Segmentation Analysis
The global clinical risk grouping solutions market is segmented based on product, deployment end-user, and region
Based on the product, the dashboard and data visualization tools segment is expected to dominate the market share of 38.7% during the forecast period due to their user-friendly interface, real-time monitoring, customization, and flexibility. These tools enable healthcare professionals to quickly grasp trends, patterns, and insights from the data, facilitating informed decision-making and risk assessment.
Dashboard and visualization tools provide interactive capabilities for data exploration, communication and collaboration, patient engagement, and performance monitoring and reporting. Data exploration and drill-down capabilities enable healthcare professionals to identify root causes and gain insights for targeted interventions. Communication and collaboration enhance care coordination, patient engagement promotes self-management, and performance monitoring and reporting help to monitor the effectiveness of care interventions.
Source: DataM Intelligence Analysis (2023)
Clinical Risk Grouping Solutions Market Geographical Share
North America Accounted for Approximately 40.2% of the Market Share in 2022 Due To Technologically Advanced Healthcare Infrastructure
North America region focuses on healthcare quality and patient safety, regulatory environment and incentive programs, research and development investments, market competition and demand, and a large customer base. These factors have enabled North America to dominate the market share in various healthcare technology segments, including clinical risk grouping solutions.
Source: DataM Intelligence Analysis (2023)
Clinical Risk Grouping Solutions Companies
The major global players include 3M Company, Optum Inc., Conduent Inc., Lightbeam Health Solutions, Health Catalyst, Change Healthcare, Milliman Inc., COTIVITI Inc, Episource, and Med-IQ Inc.
COVID-19 Impact on Clinical Risk Grouping Solutions Market
The COVID-19 outbreak is anticipated to have a positive impact on the growth of the clinical risk grouping solutions market as there is the introduction of work from the home model in many businesses sector due to there is the implementation of lockdowns in many countries. In addition, there is an increase in demand for virtual access to data which drives the growth of the market. Thus, COVID-19 has a significant positive impact on the clinical risk grouping solutions market.
Russia-Ukraine Conflict Analysis
Russia and Ukraine war significantly impacted the clinical risk grouping solutions market growth. This includes disruption of healthcare infrastructure, impaired data collection and analysis, limited investment and market development, displacement of populations, and limited access to healthcare services.
These disruptions have hindered the adoption and integration of advanced healthcare technologies, hindered the collection and availability of comprehensive healthcare data, and created an uncertain investment climate. Additionally, in the regions, healthcare organizations may have limited resources and priorities focused on humanitarian needs rather than investing in advanced healthcare technologies. The lack of investment and market development in conflict-affected regions can slow down the adoption and implementation of clinical risk grouping solutions.
Key Developments
- In May 2023, MultiPlan Corporation, a leading provider of technology and data-enabled cost management, payment, and revenue integrity solutions to the U.S. healthcare industry, announced that it acquired Benefits Science LLC (“Benefits Science Technologies” or “BST”), a next-generation data and advanced analytics company that combines modern data science, including machine learning and artificial intelligence (“AI”), with deep expertise in healthcare to deliver solutions that reduce the cost of care and improve health outcomes.
- In June 2022, CareMax, a leading technology-enabled provider of value-based care to seniors, and Steward Health Care System, the parent of one of the nation’s largest accountable care organizations (“ACOs”) with more than 6,600 providers and 43,000 healthcare professionals, announced a definitive merger agreement pursuant to which CareMax will acquire the Medicare value-based care.
- In May 2019, HBI Solutions entered into a collaborative agreement with Iatric Systems, Inc. under which, HBI Solutions adopted Latric’s AI systems for generating predictive risk scores of patients for healthcare providers. The collaboration will also help identify patients at high risk for mortality, sepsis, readmission, and other health events and conditions.
Why Purchase the Report?
- To visualize the global clinical risk grouping solutions market segmentation based on product, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of clinical risk grouping solutions market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global clinical risk grouping solutions market report would provide approximately 54 tables, 46 figures, and 195 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
