Global Referral Management Market was valued at USD 2820.22 million in 2019 which is expected to reach USD 9760.33 million by 2027 at a CAGR 22.87%.
Referral Management system is widely used in healthcare sector such as hospitals, and clinics etc., to keep track of patient referrals information throughout their treatment period. This system mainly focuses on improving the communication between different healthcare providers which are involved inpatient care. Also, this system helps in managing the patient’s revenue cycle and processing the claims efficiently.
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Increase in government initiatives to incorporate IT solutions in healthcare is the key driving factor which is expected to boost the global referral management market. Furthermore, increase in geriatric population and subsequent increase in the incidence of chronic diseases will positively contribute the market growth. Moreover, increase in adoption of cloud based systems which are expected to propel the global referral management market growth. In addition to that, rise in collaboration and partnership activities by key players will fuel the market growth. For instance, in Aug 2019, Cantex, and Diakon had partnered with Netsmart for launch of Netsmart Referral Manager. Netsmart referral manager can accept electronic referrals and automates the referral process.
However, lack of awareness and lack of skilled and trained healthcare IT professionals are the major challenging factors which are expected to hinder the global referral management market growth. Also, reluctance to adopt HCIT solutions and data security concerns will affect the market.
Global Referral Management Market is segmented into type such as Self-Referral, Professional Referral, and Third Party Referral, by deployment mode such as Web Based Delivery Mode, Cloud Based Delivery Mode, and On-premise Delivery Mode, by component such as Software, and Services. Further, market is segmented into end user such as Providers, Patients, Payers, and Others.
Also, Global Referral Management Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as CERNER CORPORATION, CAREPORT HEALTH, OPTUM, INC, CHANGE HEALTHCARE, EHEALTH TECHNOLOGIES, KYRUUS, PERSISTENT SYSTEMS, and HEALTHVIEWX
- Professional Referral
- Third Party Referral
- Web-Based Delivery Mode
- Cloud Based Delivery Mode
- On-premise Delivery Mode
By End User
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Research Support Specialist
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