Medical Case Management Service Market Forecast Covering Growth Inclinations & Development Strategies until 2022
Medical case management services facilitate the prescribed treatment plans for assuring the provision of appropriate medical care to ill, injured, or disabled individuals. These patient care-centric services connect clients with the healthcare systems, reimbursement providers, and psychosocial support. Key components of medical case management services include follow-ups and coordination with medical treatment of patients with various diseases.
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The medical case management service market is anticipated to witness a CAGR of 3.4% and reach nearly US$ 5 billion by the end of the forecast period.
Telephonic Case Management and Field Case Management Most Vital
The telephonic case management segment is expected to outpace all other modes of services in the medical case management service market. Another important mode of service that cannot be overlooked is field case management, which is almost certainly going to touch US$450 million in 2017. Field case management is poised to record a moderate CAGR of 3.2% from 2017-2022.
Lesser Opportunity in Bilingual Field Case Segment
The bilingual field case segment in the medical case management service market is a much smaller potential opportunity than telephonic field management. The other services segment is middling in terms of opportunity in the medical case management service market as it has a CAGR of 3.5% for the five year period. Even though North America dominates the bilingual and other services market, Europe can be targeted by potential stakeholders for having a large geriatric population that needs medical attention.
Hospital Care Outpaces Home Care by a Fairly Large Margin
With a revenue share of 10%, the hospital segment of the medical case management service market is likely to grow from little under US$ 3.7 billion in 2017 to approx. US$ 4.4 billion by the end of the study period. The home care segment has a much lower growth rate. It will be interesting to see if the comfort and convenience of home care manages to trump hospital care in the long term.
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Focus on Long-term Disability in the Medical Case Management Service Market
The long-term disability segment represents the largest opportunity that can be tapped in the medical case management service market and is estimated to reach nearly US$ 1.5 billion by end of 2022. North America will continue to hold a significant revenue share of the market globally. Chronic pain management closely follows long-term disability and it is also be a market that needs to be targeted with customized solutions. Chronic pain management is projected to grow at a steady CAGR during the forecast period.
Short-term Disability Niche in Medical Case Management Service Market
The short-term disability segment is comparatively nascent in the medical case management service market, and it may not even exceed US$ 280 million value by the end of the forecast period.
Overall, the medical case management service market is anticipated to grow at a steady rate during the forecast period. The market will continue to be impacted by a slew of macroeconomic and microeconomic factors. Regulatory policies will also continue to impact the market massively.
The report profiled players that will remain active in global expansion of medical case management services market through 2022, which include companies such as GENEX Services Inc., EagleOne Case Management Solutions, Inc., EK Health Services Inc., Healthcare Solutions Inc., Europ Assistance – Global Corporate Solutions, Precyse Solutions LLC., Axiom Medical Consulting, LLC, Managed Medical Review Organization Inc., and Medical Case Management Group.