The Global Referral Management Market is projected to reach a value of over USD 5.3 billion by 2027 at a CAGR of around 9.1%.
Referral management is a system tool for the healthcare industry which can track patient’s referral throughout the care. These transitions occur during the critical movement of patients such as a rise in patients care or change in disease diagnosis. Referral management takes place from specialist to specialist, from emergency room discharge to provider or from primary care provider to the specialist. Multichannel referral consolidation reduced referral leakage, increase operational efficiency, referral completion, improved patients satisfaction and complete referral analytics are some of the advantages offered by referral management process.
Market Driver:
Governments in developing nations are focusing on the growth of healthcare service and improving the overall healthcare infrastructure. For instance, in September 2018, the U.S. announced few projects such as Texas Children's Pavilion for Women tower expansion (Houston, TX), Mission Hospital tower(Asheville, N.C.), and other. Moreover, increasing demand for advanced healthcare service and rising awareness regarding artificial intelligence in healthcare has increased the governments to initiate spending of new programs. For instance, according to India Brand Equity Foundation, the government of India is aiming to increase healthcare spending to 3% of the GDP by 2022. Owing to these factors there is a need to keep track of every patients’ which will help maintain the history of patients and avoid the delay in treatment. Thus, increasing government initiative in healthcare coupled with rising awareness regarding IT solutions has expected to drive the growth of referral management market.
Market Restraint:
Referral management has the data of patients which help track the patient referral. This system helps to improve and update the communication amongst specialists, doctors, hospital administration, nurses, primary care physicians, and other health providers included in the patient’s care. Referral management system holds patients sensitive data regarding its health and cyberattacks may pose a risk to patient life. For instance, cyber attack of a Ransomware attack which in which attackers hold hospital or physician data hostage until the money is been paid, interrupting service and putting patients life at risk. Thus, increasing and widespread of such cyber-attacks may hamper the growth of referral management market.
The report on the referral management market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Type, Component, Mode of Delivery, End User, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Referral Management Market, by Type
Referral Management Market, by Component
Referral Management Market, by Mode of Delivery
Referral Management Market, by End User
Referral Management Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE REFERRAL MANAGEMENT MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
