The global healthcare contributirs network management market is poised to reach USD 2.96 billion by the year 2020 from USD 1.78 billion in the year 2015, increasing at a CAGR of 10.7 percent during the forecast time of the year 2015 to 2020.
Contributor network management assists payer agencies to handle a contributor's network with greater efficiency for optimal financial outcomes, process claims with higher accuracy (which decreases cost and errors), and increase contributor satisfaction. The global healthcare contributor network management market is bifurcated into contributor network management services and contributor network management platform/software segments. The provider network management services segment is further divided into outsourcing services and internal services.
A provider network contains a set of doctors, hospitals, and other healthcare providers like nurse practitioners, therapists, and other clinicians that are a part of the health insurance plan. Provider network management involves database management, credentialing, contracting services, pricing maintenance, and configuration, among others. With the assistance of provider network management, the payer organization is capable to reveal insights which may have been overlooked initially by conventional analytical tools. Provider network management assists in leveraging data obtained in daily operations by payer organizations to recognize high-risk providers, create consistency in care delivery, and ensure essential health insurance coverage for sufferers.
In the year 2015, the services segment is hoped to account for the greatest share of the international healthcare provider network management market, by component. Furthermore, the internal services segment is hoped to account for the greatest share of provider network management services market, by sub-component. This can be attributed to the fact that internal services help make sure the profitability, better provider network management, long-term provider relationships, and regulatory compliance. These benefits are driving the progress of this market segment over outsourcing services.
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