Healthcare Finance Solutions Global Market Report 2024

The healthcare finance solutions market size has grown strongly in recent years. It will grow from $118.3 billion in 2023 to $128.32 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth during the historic period can be attributed to several factors, including increased healthcare costs, a rise in demand for mobile payment solutions, increased digital adoption in the healthcare sector, rapid urbanization, and an increase in demand for early diagnosis.

The healthcare finance solutions market size is expected to see strong growth in the next few years. It will grow to $180.49 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. In the forecast period, growth can be attributed to the increasing geriatric population, rising prevalence of chronic diseases, increased adoption of electronic health records, growing demand for cost-effective financial solutions, and the expansion of healthcare financial processes. Major trends during this period include the integration of advanced analytics, AI-powered tools, adoption of blockchain technology, technological advancements, and progress in medical technology.

The growth of the healthcare finance solutions market is expected to be driven by the increasing prevalence of chronic diseases in the future. Chronic diseases are long-lasting conditions that typically require ongoing medical attention and can impact daily activities or quality of life. The rising prevalence of chronic diseases is attributed to factors such as exposure to air pollution, chemicals, toxins, lifestyle changes, and genetic factors. Healthcare finance solutions play a crucial role in ensuring financial stability, optimizing revenue cycles, and meeting the evolving financial needs of healthcare organizations dealing with chronic conditions. For example, in January 2024, the Australian Institute of Health and Welfare (AIHW) reported that approximately 20,000 fatalities in Australia were associated with chronic kidney disease, constituting 12% of the total mortality rate in 2021. Thus, the increasing prevalence of chronic diseases is a key driver of the healthcare finance solutions market.

Leading companies in the healthcare finance solutions market are focusing on developing AI-based financial automation solutions to streamline billing processes and enhance the accuracy of financial forecasting and reporting. AI-based financial automation solutions are designed to handle tasks traditionally requiring manual effort, including billing, coding, claims processing, expense management, financial forecasting, and compliance. For instance, in February 2024, Anatomy Financial, a US-based company specializing in healthcare financial solutions, introduced AI-powered financial automation solutions tailored for healthcare organizations billing insurance, such as medical and dental practices, digital health services, and billing companies. This solution aims to automate the healthcare back-office by integrating bank, claims, and accounting data using AI, providing real-time financial insights and automated reconciliation.

In January 2024, Bajaj Finserv Health, an India-based health-tech company, acquired Vidal Healthcare Services in an undisclosed deal. This acquisition significantly enhances Bajaj Finserv's capabilities in the healthcare sector, enabling it to offer customers wellness and hospitalization benefits and provide a continuum of care. Vidal Healthcare Services is an India-based company offering healthcare services, including medical, dental, vision, and financial insurance services.

Major companies operating in the healthcare finance solutions market are UnitedHealth Group Inc., CVS Health Corp., McKesson Corp., Optum Inc., Cardinal Health Inc., Cigna Corp., Anthem Inc., Pfizer Inc., Humana Inc., AmerisourceBergen Corp., Aetna Inc., Medtronic PLC, Roche Holding AG, Siemens Healthineers AG, GE Healthcare, Experian Information Solutions Inc., Cerner Corporation, Allscripts Healthcare LLC, Athenahealth Inc., Conifer Health Solutions LLC, Waystar Health, Greenway Health LLC, Computer Programs and Systems Inc. (CPSI), CareCloud Corp., Craneware Inc.

North America was the largest region in the healthcare finance solutions market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare finance solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the healthcare finance solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Healthcare finance solutions encompass a range of financial products, services, and strategies tailored to manage the financial aspects of healthcare delivery and operations. These solutions are crucial in addressing the complex financial challenges faced by healthcare providers, patients, and institutions, ultimately ensuring financial health and sustainability while supporting quality patient care.

The primary equipment types within healthcare finance solutions include diagnostic or imaging equipment, specialist beds, surgical instruments, decontamination equipment, and IT equipment. Diagnostic or imaging equipment encompasses medical devices used for diagnostic and imaging purposes, such as X-ray machines, CT scanners, and MRI systems. Various services offered include equipment and technology finance, working capital finance, project finance solutions, and corporate lending. These services are utilized by a wide range of healthcare facilities including hospitals, outpatient imaging centers, outpatient surgery centers, physician practices, diagnostic laboratories, urgent care clinics, skilled nursing facilities, pharmacies, and others.

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

The healthcare finance solutions market consists of revenues earned by entities by providing revenue cycle management (RCM), health information technology (HIT) financing, financing plans, accounts receivable financing solutions, and medical equipment leases. The market value includes the value of related goods sold by the service provider or included within the service offering. The healthcare finance solutions market also consist of sales of point-of-care device, biometric devices, telecommunication devices, and data storage solutions. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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