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Referral Management Global Market Report 2022

·4-min read

Major players in the referral management market are Allscripts Healthcare LLC Careport Health, Advisory Board, Ehealth Technologies, Kyruus, Arcadia Data Inc, Dental Care Links, Mckesson Corporation, ReferralMD, Keet Health, Change Healthcare, Conifer Health Solutions LLC, Fibroblast Inc, and L3Harris Technologies Inc.

New York, Sept. 08, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Referral Management Global Market Report 2022" -

The global referral management market is expected to grow from $2.75 billion in 2021 to $3.31 billion in 2022 at a compound annual growth rate (CAGR) of 20.4%. The referral management market is expected to grow to $6.21 billion in 2026 at a CAGR of 17%.

The referral management market consists of sales of referral management services by entities (organizations, sole traders, and partnerships) that are used in health systems to reduce patient leakage, improve care coordination and also provide patients with the care they need.Referral management refers to the process of moving patients to the next level of care.

This transition frequently happens when a patient is facing a crucial situation, such as an increase in care or a change in diagnosis.

The main types of referral management are self-referral, professional-referral, and third-party-referral.The self-referral management provides services for drug and alcohol problems, as well as antenatal care and improved access to psychological therapy.

This is a physician ordering imaging tests that would be done at a facility he owns or leases.The different components include software, and services and are delivered through various modes such as web-based delivery mode, cloud-based delivery mode, and on-premise delivery mode.

It is used by providers, payers, and other end users.

North America was the largest region in the referral management market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the referral management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The referral management market research report is one of a series of new reports that provides referral management market statistics, including referral management industry global market size, regional shares, competitors with a referral management market share, detailed referral management market segments, market trends and opportunities, and any further data you may need to thrive in the referral management industry. This referral management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Government initiatives to incorporate IT solutions in healthcare systems are expected to propel the growth of the referral management market.Government initiatives refer to an initiative taken by the government.

It is an important act or statement that is intended to solve public problems.Information technology is important in the healthcare industry and helps to assist in the delivery of more accurate, actionable, and accessible information related to patients’ health.

For instance, in 2021, according to Health care news, an India-based healthcare newspaper, the Indian government launched its latest digital health project named Ayushman Bharat Digital Health Mission.With this mission, the Indian government plans to digitalize health infrastructure in India.

In addition, in 2021, the Ministry of Health and Family Welfare allocated $11.5 billion in the union budget for the development of this project. Therefore, the government initiatives to incorporate IT solutions in healthcare systems are driving the growth of the referral management market.

New product innovations have emerged as a key trend gaining popularity in the referral management market.Major companies operating in the referral management market are introducing new product innovations to meet consumer demand and reinforce their position.

For instance, in June 2020, Change Healthcare, a US-based company that provides patent referral management software launched a new application in referral management called Connected Consumer Health.This is a Virtual Front Desk application that provides a touch-free check-in experience for patients and personnel.

It is utilized for direct online check-in and forms that aid in conveying when patients should enter the institution. It also helps to store the previous medical history of the patients.

In January 2021, AristaMD, a US-based company that provides e-consult or online medical consultation and referral management services acquired Preferral for an undisclosed amount.This acquisition helps AristaMD to develop new technologies in referral management.

Also, it would help in improving care and providing services at lower costs. Preferral is a US-based company that develops software and referral management system for referral analytics, and online referral forms.

The countries covered in the referral management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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