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Patient-Centered Medical Home Market 2023
BURLINGAME, CALIFORNIA, UNITED STATES, November 23, 2023 /EINPresswire.com/ — The Patient Centered Medical Home Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Patient centered medical home (PCMH) is an approach to primary care that aims to transform the medical practice’s approach from volume-driven care to value-driven care through increased access, care coordination and integration, and a focus on quality and safety. PCMHs aim to strengthen the physician-patient relationship while improving care coordination by enabling effective collaboration between medical providers, patient families, and community services.
Market Dynamics:
The patient centered medical home market is driven by the rising prevalence of chronic conditions such as diabetes, cancer, and cardiovascular diseases. According to the Centers for Disease Control and Prevention, in 2019, chronic diseases accounted for most U.S. healthcare costs and affected approximately 133 million Americans, representing over 40% of the nation’s population. Additionally, the growing need for personalized and effective healthcare services is also expected to support the growth of the patient centered medical home market over the forecast period.
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Patient Centered Medical Home Market Drivers
Increasing Prevalence of Chronic Diseases
Rising rates of chronic diseases such as diabetes, cancer, heart disease and others have fueled the demand for integrated patient-centered care. Chronic conditions now affect over half of all adults in the United States. With a growing elderly population and rates of obesity on the rise, the medical community’s focus has shifted towards preventative care and more holistic care models to manage chronic disease. The medical home model aims to improve care coordination and longitudinal management of patient health which is crucial for populations dealing with multiple comorbidities and complex medical needs.
Emphasis on Quality Over Quantity
In recent years, reimbursement models have moved from fee-for-service towards value-based payments tied to quality outcome measures and patient experience. This shift has encouraged providers to adopt the medical home approach which centralizes comprehensive care, care coordination and preventative health strategies to improve overall patient health outcomes. Transitioning routine treatment and management of stable chronic conditions to primary care settings also helps reduce wasteful spending on avoidable emergency room visits and hospital admissions. The patient-centered medical home supports continuity of high-quality personalized care in a cost-effective manner.
Some of the Top Players in Patient-Centered Medical Home Market:
Aetna, AmeriHealth, Lynn Community Health Center, CHAS Health, Cigna, Siemens Healthcare GmbH, NextGen Healthcare, Athena Healthcare, NextStep Solutions, and Genpact Limited
Detailed Segmentation:
Global patient-centered medical home market, By Type:
Health Detection
Care Service
Global patient-centered medical home market, By End User:
Nursing Home
Home Care Settings
Others
Regional Analysis –
‣ North America (USA and Canada)
‣ Europe (UK, Germany, France and the rest of Europe)
‣ Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
‣ Latin America (Brazil, Mexico, and the rest of Latin America)
‣ Middle East and Africa (GCC and rest of the Middle East and Africa)
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Patient Centered Medical Home Market Restrain: Implementation Costs and Resources Required
Transitioning to a true patient-centered medical home model requires significant upfront investment and organizational changes. It involves system-wide adoption of health information technologies for care coordination, patient engagement portals, and data analytics capabilities. Additionally, hiring more providers, nurses, social workers and care managers is necessary to properly support the medical home’s team-based, whole-person approach. For many independent or smaller practices, the costs associated with transforming existing infrastructure and operations poses a major barrier to entry. Limited financial resources hamper full implementation of the medical home care model in its ideal form.
Patient Centered Medical Home Market Opportunity: Growth of Value-Based Payment Programs
Innovative value-based payment initiatives like Accountable Care Organizations, bundled payments and global budgets directly incentive providers to deliver lower-cost, higher-quality care through mechanisms like shared savings. With greater accountability for whole population health outcomes and total cost of care, the medical home model stands to benefit practices financially under these alternative payment models. Its emphasis on preventative services, care coordination and reducing unnecessary utilization directly supports the goals of VBP programs. As public and private payers increasingly transition reimbursement away from fee-for-service, it creates a favorable environment for wider adoption of the patient-centered medical home approach.
Patient Centered Medical Home Market Trends: Integration of Behavioral Health Services
Mental health conditions are common among patient populations with chronic medical illness. However behavioral and physical care have long been fragmented in the United States. An emerging trend sees many medical home models integrating behavioral health consultants, psychologists, psychiatrists and social workers into care teams. Co-locating these services helps improve screening, diagnosis and management of mental health issues. It leads to better treatment adherence and health outcomes when behavioral and medical care are comprehensively addressed together. As recognition grows around the mind-body connection and impacts of social determinants of health, integrated behavioral services will become a core feature of future patient-centered medical homes.
Questions Answered by the Report:
(1) Which are the dominant players of the Patient-Centered Medical Home Market?
(2) What will be the size of the Patient-Centered Medical Home Market in the coming years?
(3) Which segment will lead the Patient-Centered Medical Home Market?
(4) How will the market development trends change in the next five years?
(5) What is the nature of the competitive landscape of the Patient-Centered Medical Home Market?
(6) What are the go-to strategies adopted in the Patient-Centered Medical Home Market?
Table of Contents
Chapter 1 Market Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Market Size Analysis from 2023 to 2030
Chapter 2 Competition by Types, Applications, and Top Regions and Countries
2.1 Market (Volume and Value) by Type
2.3 Market (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Worldwide Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Patient-Centered Medical Home Sales, Consumption, Export, Import by Regions (2023-2023)
Chapter 5 North America Market Analysis
Chapter 6 Europe Market Analysis
Chapter 7 Middle East and Africa Market Analysis
Chapter 8 Asia Pacific Market Analysis
Chapter 9 Latin America Market Analysis
Chapter 10 Company Profiles and Key Figures in Patient-Centered Medical Home Business
Chapter 11 Market Forecast (2023-2030)
Chapter 12 Conclusions
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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Mr. Shah
Coherent Market Insights Pvt. Ltd.
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