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Technology Solutions In The U.S. Healthcare Payer Market Size, Share & Trends Analysis Report By Application, By Solution Type (Standalone, Integrated), By Payer Type (Government, Commercial), And Segment Forecasts, 2024 - 2030

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    Report

  • 149 Pages
  • February 2024
  • Region: United States
  • Grand View Research
  • ID: 5943912
The technology solutions in the U.S. healthcare payer market size is anticipated to reach USD 12.6 billion by 2030. The market is expected to expand at a notable CAGR of 7.3% from 2024 to 2030. Major factors driving the market growth include enrollment and billing modernization, growing acquisition by market leaders, growing interest of investors and venture capitalists, and revolutionizing healthcare using innovative technologies.

The interest of investors and venture capitalists in the healthcare payer sector is growing as technology startups focusing on this industry draw substantial attention. This increased attention is driven by several factors, such as digital transformation, value-based care, telehealth, data analytics, and consumer-centric care, highlighting the significant potential for innovation and expansion in the healthcare payer domain. The healthcare industry is undergoing rapid transformation, driven by evolving patient expectations, the shift toward value-based care, and the increasing demand for more accessible & personalized healthcare experiences. These changes have created a competitive environment for startups to introduce innovative technologies and solutions, with the potential to improve and enhance various aspects of the healthcare payer ecosystem.

The initial phase of the pandemic required a strong emphasis on ensuring business continuity, member communication, and support, and these priorities remained important for the future. As the pandemic progressed from a remote concern to a global crisis, marked by extensive closure of schools and businesses for social distancing, payers found engaging with diverse stakeholders to manage the response measures collectively imperative. Healthcare payers adopted several response measures, such as establishing collaborative forums with providers and government response teams, proactive identification of high-risk members, and preparation for supply and demand imbalances.

Moreover, key players in the market are engaging in strategic initiatives such as partnerships, collaborations, new product launches, acquisitions, and expansions to strengthen their market position and expand their customer base. For instance, in March 2023, Pegasystems Inc. announced enhancements to the Pega Foundation for Healthcare. The platform will include intelligent AI-powered decision-making, personalized & responsive benefits, and expanded interoperability to help payers, care providers, & customers. Moreover, in April 2023, Cognizant and Microsoft announced an expansion of their long-standing healthcare collaboration to provide healthcare providers and payers with access to streamlined claims management, advanced technology solutions, and improved interoperability to provide better patient and member experiences and optimize business operations. Microsoft and Cognizant are expected to work collaboratively to develop an integration roadmap between Cognizant's TriZetto healthcare technologies and Microsoft Cloud for Healthcare.

Technology Solutions In The U.S. Healthcare Payer Market Report Highlights

  • Based on application, the claims management segment held the majority of the market share of 32.2% in the application segment in 2023. As the population of insured individuals and the demand for healthcare services continue to increase, insurance claims are also rising
  • Based on solution type, the integrated segment held most of the market share of 64.4% in the solution-type segment in 2023 and is e xpected to witness the fastest growth at a CAGR of 7.5% during the forecast period. The rising emphasis on value-based care & population health management contributes to market growth
  • Based on payer type, the commercial segment held the largest market share of 67.1 % in 2023 and is anticipated to witness the fastest growth at a CAGR of 7.5% over the forecast period. The growth is attributed to the increasing adoption of health insurance among the population

Table of Contents

Chapter 1 Methodology And Scope
1.1 Market Segmentation & Scope
1.1.1 Estimates & Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database:
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research:
1.3.5 Details Of Primary Research
1.4 Information Or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis
1.6.2 Segment Level Market Estimation
1.7 List Of Secondary Sources
1.8 Objectives
1.8.1 Objective 1:
1.8.2 Objective 2:
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Market Snapshot
2.3 Segmentation Snapshot
2.4 Segmentation Snapshot
2.5 Competitive Landscape Snapshot
Chapter 3 Technology Solutions In The U.S. Healthcare Payers Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Ancillary Market Analysis
3.2 Healthcare It Trends/dynamics In U.S. Healthcare Payers Market
3.2.1 Market Driver Analysis
3.2.1.1 Market Leaders
3.2.1.1.1 Modernization Of Enrollment And Billing Processes
3.2.1.1.2 Growing Acquisitions By Market Leaders
3.2.1.2 Emerging Players/startups
3.2.1.2.1 Growing Interest Of Investors And Venture Capitalists
3.2.1.2.2 Revolutionization Of Healthcare Using Innovative Technologies
3.2.2 Market Restraint Analysis
3.2.2.1 Market Leaders
3.2.2.1.1 Demand-supply Gap Of Tech Experts
3.2.2.2 Emerging Players/startups
3.2.2.2.1 Growing Instances Of Data Breaches
3.2.3 Market Challenges Analysis
3.2.3.1 Market Leaders
3.2.3.1.1 Inflation And Rising Cost Of Care
3.2.3.2 Emerging Players/startups
3.2.3.2.1 Increased Competition
3.2.4 Market Opportunity Analysis
3.2.4.1 Market Leaders
3.2.4.1.1 Growing Demand For Innovative Technologies
3.2.4.2 Emerging Players/startups
3.2.4.2.1 Enhanced Communication And Engagement
3.3 Industry Analysis Tools: Porter’s Analysis
3.4 Industry Analysis - Pest
3.5 U.S. Healthcare Payers Market Technology Timeline
3.5.1 Secondary Survey Insights Related To Changes In Technology Investments By Healthcare Payers
3.5.1.1 Survey No.1
3.5.1.2 Survey No.2
3.5.2 Emerging Trends
3.5.2.1 Digital Technology Analysis
3.5.2.2 Modernization
3.5.2.2.1 Cloud-based Solutions Analysis
3.5.2.3 Ai-enabled Technology Analysis
3.6 Impact Of Covid-19 Pandemic
Chapter 4 U.S. Healthcare Payer Market
Chapter 5 Technology Solutions In The U.S. Healthcare Payers Market: Application Estimates & Trend Analysis
5.1 Segment Dashboard
5.2 Application Movement Analysis, USD Million, 2023 & 2030
5.2.1 Enrollment And Member Management
5.2.1.1 Enrollment And Member Management Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.2 Provider Management
5.2.2.1 Provider Management Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.3 Claims Management
5.2.3.1 Claims Management Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.4 Value-based Payments
5.2.4.1 Value-based Payments Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.5 Revenue Management And Billing
5.2.5.1 Revenue Management And Billing Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.6 Analytics
5.2.6.1 Analytics Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.7 Personalize /crm
5.2.7.1 Personalize /crm Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.8 Clinical Decision Support
5.2.8.1 Clinical Decision Support Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.9 Data Management And Authorization
5.2.9.1 Data Management And Authorization Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.2.10 Others
5.2.10.1 Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 6 Technology Solutions In The U.S. Healthcare Payers Market: Solution Type Estimates & Trend Analysis
6.1 Segment Dashboard
6.2 Technology Solutions In The U.S. Healthcare Payers Market: Solution Type Movement Analysis, USD Million, 2023 & 2030
6.2.1 Standalone
6.2.1.1 Standalone Market Estimates And Forecasts, 2018 - 2030 (USD Million)
6.2.2 Integrated
6.2.2.1 Integrated Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 7 Country Estimates, Technology Solutions In The U.S. Healthcare Payers Market, By Application And Solution Type
7.1 U.S.
7.1.1 Competitive Scenario
7.1.2 Regulatory Framework
7.1.2.1 Technology Solutions In The U.S. Healthcare Payer Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 8 Market Player Analysis
8.1 Recent Developments & Impact Analysis By Key Market Participants
8.1.1 Cognizant (Trizetto Business Line)
8.1.2 Zeomega
8.1.3 Pegasystems, Inc.
8.1.4 Hyland Software, Inc.
8.1.5 Medecision
8.1.6 Medhok, Inc. (Mhk)
8.2 Company/competition Categorization (Key Innovators, Market Leaders, Emerging Players)
8.3 Estimated Dominant Company Market Position Analysis, 2023
8.4 Top Technology Solution Providers For Healthcare Payers
8.5 Competitive Factors And Strategies Implementation
8.5.1 By Technology Solutions Providers In The U.S. Healthcare Payers Market
8.5.2 Other Related Streams In The U.S. Healthcare Payers Market
8.6 Healthcare Payer's Digital Transformation Initiatives
8.6.1 Key Focus Areas For Healthcare Payers
8.6.1.1 Advanced Analytics
8.6.1.2 Member Engagement
8.6.1.3 Cybersecurity:
8.6.1.4 Telehealth:
8.6.1.5 Value-based Care:
8.6.1.6 Population Health Management:
8.6.2 Digital Healthcare Payer's Transformation Use Cases
8.6.2.1 Accelerating Claims Processing
8.6.2.1.1 Gleematic A.i: Cognitive Automation For Claims Processing
8.6.2.2 Enhancing Customer Care
8.6.2.2.1 Virtusa Corp.: 98% Boost In Customer Satisfaction Realized By Top Payer
8.6.2.3 Accelerating New Member Enrollment
8.6.2.3.1 Innova Solutions: Enrollment Management Solution For Leading U.S. Health Insurance Company
8.6.2.4 Enabling Remote Workforce
8.6.2.4.1 Productive Edge: Revolutionizing Primary Care: A Regional Payer's Innovative Virtual Solution For Patient Needs
8.6.2.5 Enhancing Interoperability
8.6.2.5.1 Hyland Software, Inc.: A Complex Regional Health System And Plan Provider Achieves Interoperability And Significant Roi
8.6.2.6 Other Applications
8.6.2.6.1 Hyland Software, Inc.: New York Health Plan Enhances Efficiency And Security By Automating Appeals And Grievances Processes
8.7 Analyst Recommendations For Healthcare Payers Regarding Technology Solutions
8.7.1 Potential Growth And Penetration Areas
Chapter 9 Technology Solutions In The U.S. Healthcare Payers Market: Competitive Analysis
9.1 Strategic Initiatives
9.2 Top 5 Consulting Service Lines
9.2.1 Ey
9.2.1.1 Strategic Alliances
9.2.2 Deloitte
9.2.2.1 Strategic Alliances
9.2.3 KPMG
9.2.3.1 Strategic Alliances
9.2.4 Pwc (Pricewaterhousecoopers)
9.2.4.1 Strategic Alliances
9.2.5 Ntt Data
9.2.5.1 Strategic Alliances
9.3 Top 5 Indian Advisory Companies
9.3.1 Infosys
9.3.1.1 Strategic Alliances
9.3.2 Tcs
9.3.2.1 Strategic Alliances
9.3.3 Wipro
9.3.3.1 Strategic Alliances
9.3.4 Cognizant
9.3.4.1 Strategic Alliances
9.3.5 Optum
9.3.5.1 Strategic Alliances
Chapter 10 Technology Solutions in the U.S. Healthcare Payers Market: Market Player Landscape
10.1 Major Market Player Landscape
10.1.1 HEALTHEDGE
10.1.1.1 Company Overview
10.1.1.2 Partners:
10.1.1.3 Go-To-Market Strategies
10.1.2 ORACLE
10.1.2.1 Company OverVIew
10.1.2.2 Oracle Enterprise Service Bus (ESB)
10.1.2.3 Partners: Accenture, PwC, Cognizant, Deloitte, KPMG, TCS, Infosys, Wipro, EY
10.1.2.4 Go-To-Market Strategies
10.1.3 ORACLE EBS (E-BUSINESS SUITE)
10.1.4 COGNIZANT
10.1.4.1 Company OverVIew
10.1.4.2 Facts of Cognizant digital healthcare payer Solutions
10.1.4.3 Partnership
10.1.4.4 Go-To-Market Strategies
10.2 Company Profiles
10.2.1. COGNIZANT (TRIZETTO BUSINESS LINE)
10.2.1.1. Participant’s Overview
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Recent Developments
10.2.2. ZEOMEGA
10.2.2.1. Participant’s Overview
10.2.2.2. Financial Performance
10.2.2.3. Product Benchmarking
10.2.2.4. Recent Developments
10.2.3. Oracle
10.2.3.1. Participant’s Overview
10.2.3.2. Financial Performance
10.2.3.3. Product Benchmarking
10.2.3.4. Recent Developments
10.2.4. HealthEdge Software Inc.
10.2.4.1. Participant’s Overview
10.2.4.2. Financial Performance
10.2.4.3. Product Benchmarking
10.2.4.4. Recent Developments
10.2.5. Pegasystems Inc.
10.2.5.1. Participant’s Overview
10.2.5.2. Financial Performance
10.2.5.3. Product Benchmarking
10.2.5.4. Recent Developments
10.2.6. Hyland Software Inc.
10.2.6.1. Participant’s Overview
10.2.6.2. Financial Performance
10.2.6.3. Product Benchmarking
10.2.6.4. Recent Developments
10.2.7. Zyter (Zyter| TrueCare)
10.2.7.1. Participant’s Overview
10.2.7.2. Financial Performance
10.2.7.3. Product Benchmarking
10.2.7.4. Recent Developments
10.2.8. Medecision
10.2.8.1. Participant’s Overview
10.2.8.2. Financial Performance
10.2.8.3. Product Benchmarking
10.2.8.4. Recent Developments
10.2.9. OSP
10.2.9.1. Participant’s Overview
10.2.9.2. Financial Performance
10.2.9.3. Product Benchmarking
10.2.9.4. Recent Developments
10.2.10. Open Text Corporation
10.2.10.1. Participant’s Overview
10.2.10.2. Financial Performance
10.2.10.3. Product Benchmarking
10.2.10.4. Recent Developments
10.2.11. MedHOK, Inc. (MHK)
10.2.11.1. Participant’s Overview
10.2.11.2. Financial Performance
10.2.11.3. Product Benchmarking
10.2.11.4. Recent Developments
List of Tables
Table 1 List of Abbreviation
Table 2 Technology solutions in the U.S. healthcare payer market, by application, 2018 - 2030 (USD Million)
Table 3 Technology solutions in the U.S. healthcare payer market, by solution type, 2018 - 2030 (USD Million)
Table 4 Technology solutions in the U.S. healthcare payer market, by payer type, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Technology solutions in the U.S. healthcare payers market segmentation
Fig. 2 Market research process
Fig. 3 Data triangulation techniques
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market formulation & validation
Fig. 9 Technology Solutions in the healthcare payers market - Commodity flow analysis
Fig. 10 Market Snapshot
Fig. 11 Segment Snapshot
Fig. 12 Segment Snapshot
Fig. 13 Competitive Landscape Snapshot
Fig. 14 Technology Solutions in the U.S. Healthcare Payers Market: PORTER’s Analysis
Fig. 15 Technology Solutions in the U.S. Healthcare Payers Market: PEST Analysis
Fig. 16 Technology Solutions in the U.S. Healthcare Payers Market: Changes in Technology Investments (Percentage of Insurance Respondents)
Fig. 17 Technology Solutions in the U.S. Healthcare Payers Market: Secondary Survey Insights
Fig. 18 Technology Solutions in the U.S. Healthcare Payers Market: Secondary Survey Insights
Fig. 19 Technology Solutions in the U.S. Healthcare Payers Market: Secondary Survey Insights
Fig. 20 Technology Solutions in the U.S. Healthcare Payers Market: Secondary Survey Insights
Fig. 21 Technology Solutions in the U.S. Healthcare Payers Market: Post COVID-19 Impact
Fig. 22 Technology Solutions in the U.S. Healthcare Payers Market: Post COVID-19 Impact
Fig. 23 Technology Solutions in the U.S. Healthcare Payers Market: COVID-19 Impact
Fig. 24 Technology solutions in the U.S. healthcare payers market, application outlook key takeaways (USD Million)
Fig. 25 Application movement analysis (USD Million), 2023 & 2030
Fig. 26 Enrollment and member management market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 27 Provider management market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 28 Claims management market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 29 Value-based payments market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 30 Revenue management and billing market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 31 Analytics market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 32 Personalize /CRM market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 33 Clinical decision support market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 34 Data management and authorization market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 35 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 36 Technology solutions in the U.S. healthcare payers market, solution type outlook key takeaways (USD Million)
Fig. 37 Technology solutions in the U.S. healthcare payers market: Solution type movement analysis (USD Million), 2023 & 2030
Fig. 38 Standalone market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 39 Integrated market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 40 U.S. key country dynamics
Fig. 41 U.S. key country dynamics
Fig. 42 Technology solutions in the U.S. healthcare payer market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 43 Company/competition categorization
Fig. 44 Strategic Initiatives by Key Players (%)
Fig. 45 Company Overview: EY
Fig. 46 Company Overview: Deloitte
Fig. 47 Company Overview: KPMG
Fig. 48 Company Overview: PwC
Fig. 49 Company Overview: NTT Data
Fig. 50 Company Overview: Infosys
Fig. 51 Company Overview: TCS
Fig. 52 Company Overview: WIPRO
Fig. 53 Company Overview: Cognizant
Fig. 54 Company Overview: Optum
Fig. 55 Company Overview: Exela Technologies
Fig. 56 Company Overview: EXL
Fig. 57 Company Overview
Fig. 58 Company Overview: MPhasis
Fig. 59 Company Overview: Firstsource
Fig. 60 Company Overview: HealthEdge
Fig. 61 Company Overview: HealthEdge (Part 2)
Fig. 62 Company Overview: Oracle
Fig. 63 Company Overview: Cognizant

Companies Mentioned

  • COGNIZANT (TRIZETTO BUSINESS LINE)
  • ZEOMEGA
  • Oracle
  • HealthEdge Software Inc.
  • Pegasystems Inc.
  • Hyland Software Inc.
  • Zyter (Zyter| TrueCare)
  • Medecision
  • OSP
  • Open Text Corporation
  • MedHOK, Inc. (MHK)

Methodology

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Table Information