Healthcare Provider Network Management Market

The healthcare provider network management market is projected to reach USD 5.8 billion by 2025 from USD 2.9 billion in 2020, at a CAGR of 14.9%. The growth of this market is driven by the implementation of stringent federal mandates in the US, the growing focus on improving the quality of care through the effective use of payer reporting requirements, the need to curtail escalating healthcare costs, and the in-house shortage of skilled personnel.

Cognizant (US), Ayasdi, Inc. (US), Change Healthcare (US), Optum, Inc. (US), Genpact Limited (US), Infosys BPM Ltd. (India), Atos Syntel, Inc. (France), Mphasis, Ltd. (India), SKYGEN USA (US), Evolent Health, Inc. (US), OSP Labs (US), HGS Ltd. (India), Virtusa Corp. (US), EXL (US), Vee Technologies (US), symplr (US), Appian (US), Inovalon (US), Wipro Limited (India), and Virsys12, LLC (US) are considered to be the leading players in the healthcare provider network management market.

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Cognizant

Cognizant is a key player in the healthcare provider network management market. The company offers value-based quality improvement healthcare IT solutions and services for healthcare payers and providers to enable healthcare organizations to work more efficiently and thereby deliver better services to customers.

Cognizant has delivery centers located in 31 countries and business development offices in more than 79 cities in 37 countries across the world. The company receives most of its revenue from North America. However, it is expanding its reach in the Asia Pacific, the Middle East, and Latin America. The company�s Healthcare segment revenue increased by USD 241 million in 2019 and USD 342 million in 2018, compared to the previous years. This increase can be attributed to the growing demand for a broader range of services, including business process services and advanced data analytics and solutions, including provider network management.

Change Healthcare

Change Healthcare is a leading provider of healthcare IT solutions and well-known for its offerings in the healthcare provider network management solutions and revenue cycle management solutions markets. According to the company, its network connects or serves approximately 2,400 government and commercial payer connections, 1,000,000 physicians, 125,000 dentists, 39,000 pharmacies, 6,000 hospitals, and 700 laboratories. The company operates in more than 120 locations globally, with a strong presence in the US.

Change Healthcare is planning to expand its Intelligent Healthcare Network blockchain-enabled claims management solutions (for payers, providers, and software vendors). In line with this, the company acquired key assets from PokitDok to improve its network�s integrity and support the launch of Change Healthcare's API and Services Marketplace. Its blockchain transaction network is designed for applications such as automatic adjudication, identity verification, EHR, and smart contracts. Change Healthcare is also exploring the arena of artificial and human intelligence. For instance, it launched the Dual Enrollment Advocate in 2018, the first solution to blend artificial intelligence and behavioral science to help solve the challenge of Medicare Advantage (MA) dual-eligibility identification and enrollment. These strategies have positioned the company as a leading player in the healthcare IT market.

Optum

Optum provides a variety of healthcare IT solutions, including EHR/EMR solutions, mHealth solutions and services, ePrescribing, healthcare asset management solutions for pharmacies, and revenue cycle management solutions. It also offers other healthcare IT solutions and services to help care providers and payers efficiently improve their clinical performance, quality of care, and establish consumer engagement.

The company works with 74 million consumers, 67,000 pharmacies, and 300 health plans to provide healthcare claims management solutions globally. It has a strong presence in over 150 locations across the globe. The company maintains operations across North America, South America, Europe, the Asia Pacific, and the Middle East.

Related Reports:

Healthcare Provider Network Management Market by Component (Services, Internal, Outsourcing Services, Software), Delivery (On premise and Cloud), End User (Payer, Private, Public Health Insurers), Region (North America, Europe) - Global Forecasts to 2025

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