Referral Management Market: Summary
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.
Referral Management Market: Drivers & Restraints
- Increasing Government Initiatives in Healthcare
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.
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.
Referral Management Market: Key Segments
- Segmentation based on type: Self-Referral, Professional-Referral and Third Party-Referral.
- Segmentation based on component: Software and Service.
- Segmentation based on mode of delivery: Web-Based Delivery Mode, Cloud-Based Delivery Mode, and On-Premise Delivery Mode.
- Segmentation based on end user: Providers, Payers, Patients, and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Referral Management Market: Report Scope
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Type, Component, Mode of Delivery, End User, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Forcura (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- McKesson Corporation
- Allscripts Healthcare, LLC
- CERNER CORPORATION
- eHealth Technologies
- Advisory Board
- Clarity Health Services, Inc.
- L3Harris Technologies, Inc.
- Eceptionist, Inc.
- Chart Request
- Persistent Systems
- Other Key Companies
Referral Management Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Referral Management Market, by Type
- Third Party-Referral
Referral Management Market, by Component
Referral Management Market, by Mode of Delivery
- Web-Based Delivery Mode
- Cloud-Based Delivery Mode
- On-Premise Delivery Mode
Referral Management Market, by End User
Referral Management Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Referral Management Market Providers
- Referral Management Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Referral Management Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE REFERRAL MANAGEMENT MARKET STUDY