Cerner Corporation (US) and CarePort Health (US) are Leading Players in the Referral Management Market
The referral management market is projected to reach USD 6.1 billion by 2027 from USD 3.2 billion in 2022, at a CAGR of 13.6%. The growth of this market is driven by the increasing government initiatives to incorporate IT solutions in healthcare and benefits offered by automated referral processes.
On the other hand, a shortage of skilled healthcare IT professionals and reluctance to adopt HCIT solutions are expected to hamper the growth of this market.
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Prominent players in this market are Cerner Corporation (US), CarePort Health (US), eHealth Technologies, Inc. (US), Optum, Inc. (US), Change Healthcare (US), ReferralMD (US), Kyruus (US), Eceptionist (US), Persistent Systems (India), HealthViewX (US), Conifer Health Solutions, LLC (US), EcoSoft Health (US), DentalCareLinks (US), BlockitNow, Inc. (US), Cloudmed (US), EZ Referral (Canada), ReferWell (US), Arcadia (US), HealthWare Systems (US), Netsmart Technologies, Inc. (US), Advanced (UK), Innovaccer, Inc. (US), Lightbeam Health Solutions (US), MDfit (US), and Medcohere Inc. (US). These players are increasingly focusing on product launches, expansions, acquisitions, and partnerships to expand their product offerings in the referral management market.
Cerner Corporation (US) is among the world leaders in the referral management market. The company has been in business since 1979 and has been offering Cerner Direct Referrals in the market since 2012. With over 210,000 referrals sent using Direct Referrals, to date, it serves as a replacement for other ad hoc non-secure communications, such as fax, phone, and paper, to securely share referral information. Cerner endorses the ONC’s 360X Closed Loop Referral initiative, focused on enabling providers to exchange patient information for referral management. Cerner is an active participant in the Direct Project initiative, which entails the development of a set of standards, policies, and services for the secure transport of health information between authorized care providers. The company has a strong presence in North America, Europe, the Asia Pacific, and Latin America. The company was acquired by Oracle Corporation (US) in June 2022.
CarePort Health (US) is one of the prominent players in the referral management market. CarePort leading position can be attributed to its CarePort Referral Management solution, which confirms a streamlined patient care process by selecting suitable care providers for individual patient needs. The company was fully acquired by WellSky in October 2020 to facilitate effective patient care transitions across the continuum driving better outcomes for patients, providers, and payers. In the wake of the COVID-19 pandemic, company developed the Transitions of Care (ToC) Hub in March 2020. This platform offers health departments, care providers, and payers with the latest insights and trends of COVID-19 in order to facilitate clinical decision-making, effective utilization of resources, and capacity planning.
eHealth Technologies, Inc. (US) is one of the leading player in the referral management market. The company’s eHealth Connect solution increases patient and physician satisfaction by streamlining referrals and intelligently aggregating patients’ clinical records. The company works with prominent HIEs and the nation’s top-ranked hospitals, including 17 of the 20 US News & World Report Honor Roll Hospitals for 2020-2021. The company concentrates on inorganic growth strategies in order to strengthen its position in the market. During coronavirus pandemic, eHealth Technologies joined a coalition of private-sector healthcare technology firms, nonprofits, academia, and startups (organized by MITRE Corporation) to share its expertise and capabilities as a response to the novel coronavirus. The coalition’s aim is to roll out the pandemic’s curve in the US by providing real-time insights to aid healthcare delivery.
Related Reports:
Referral Management Market by Component (Software (Integrated, Standalone), Services), Delivery Mode (Cloud Based, On Premise), Type (Inbound, Outbound), End User (Providers, Payers) – Analysis & Global Forecasts to 2027
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