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3. McKesson Corporation (US),Optum (US) and Cognizant (US) are the prominent players in the Patient Access Solutions Market

The global patient access solutions market is projected to reach USD 2.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 8.5%. Increasing patient volume and subsequent growth in the demand for health insurance, the growing importance of denials management, declining reimbursement rates, increase in the volume of unstructured data in the healthcare industry, and the rising need to curtail escalating healthcare costs are the major factors driving the growth of this market. However, high deployment costs are expected to restrain the growth of this market to a certain extent.

The prominent players operating in this market include Cognizant (US), McKesson Corporation (US), Cerner Corporation (US), Experian (Ireland), 3M (US), Conifer (US), Waystar (US), Epic Systems (US), SSI Group (US), Optum (US), Cirius Group (US), Craneware (US), Allscripts (US), Genentech (Ireland), AccuReg Software (US), Kyruus (US), AccessOne (US), Vee Technologies (India), Exela Technologies (US), QWay Health (US), TransUnion (US), PLEXIS Healthcare Systems (US), HealthAsyst (India), and Virtusa (US). These players adopted partnerships, agreements, and acquisitions to expand their presence in Patient access solutions market.

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McKesson

McKesson dominated the global patient access solutions market in 2019. McKesson operates through two business segments, which cater to the markets in developed as well as developing countries. The company focuses on strategies such as collaborations, agreements, and partnerships to maintain its market presence. McKesson has a significant global footprint in the US, Canada, Australia, Ireland, New Zealand, and Israel, owing to its strong sales and distribution network. The agreement with Change Healthcare to create a new healthcare information technology company by merging a majority of its McKesson Technology Solutions (MTS) business segment with substantially all of Change Healthcare’s business helped it to strengthen its position in this market.

Optum

In 2019, Optum was the second-largest player in the healthcare IT industry. The company offers software and services for patient access solutions. The large share of this company can be attributed to its strong suite of software and services. The company focuses on both organic and inorganic growth strategies such as partnerships, collaborations, acquisitions, and expansions to keep up with its competitors. The company has a wide geographic presence with distribution channels across the Americas, Europe, Asia Pacific, and the Middle East.

Cognizant

Cognizant held the third position in the global patient access solutions market in 2019. Cognizant is known for its reputation in healthcare data management and analytics. The company’s dominance in the market can be attributed to its wide range of product offerings in the patient access solutions market and its strong geographical footprint. The company has a strong global presence and diversified product portfolio.

Related Reports:

Patient Access Solutions Market by product & service (Training services, Eligibility Verification, Medical Necessity, Pre-certification), Delivery Mode (Web & Cloud, On premise), End-User (Providers, HCIT Outsourcing Companies) - Global Forecast to 2025

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