UK Healthcare Claims Management Market Report 2022 to 2030

UK Healthcare Claims Management Market Analysis

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The UK healthcare claims management market is projected to grow from $694.2 Mn in 2022 to $3275.17 Mn by 2030, registering a CAGR of 21.4% during the forecast period of 2022-30. The main factors driving the growth would be increasing demand for healthcare services, rising healthcare costs, increasing use of Electronic Health Records (EHRs), and advances in technology. The market is segmented by component, type, by delivery mode, and end-user. Some of the major players include Healthcode, WNS, Healix Health Services, Cognizant, Allscripts Healthcare and McKesson.

ID: IN10GBHS006 CATEGORY: Healthcare Services GEOGRAPHY: UK AUTHOR: Neha Davda

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UK Healthcare Claims Management Market Executive Summary

The UK healthcare claims management market is projected to grow from $694.2 Mn in 2022 to $3275.17 Mn by 2030, registering a CAGR of 21.4% during the forecast period of 2022-30. Healthcare costs in the UK were $314.10 Bn in 2020 or $4,682.21 per person. From 9.9% of GDP in 2019 to 12.0% of GDP in 2020, this expenditure grew. In 2020, the government paid for around 83% of total healthcare costs, or $ 260.2 Bn, a 14.9% real-terms increase.

The UK healthcare claims management market is a developing sector with an emphasis on assisting healthcare providers in properly managing their insurance claims. Several businesses in the industry provide software solutions, consulting services, and other resources to healthcare providers in an effort to increase the effectiveness and precision of claim management procedures. Due to the larger volume of claims and shifting rules, the COVID-19 pandemic had a substantial impact on the market, putting increased pressure on many healthcare providers to manage claims more effectively.

UK Healthcare Claims Management Market

Market Dynamics

Market Growth Drivers

The UK healthcare claims management market is expected to be driven by factors such as:

Increasing demand for healthcare services- Demand for healthcare services is rising as a result of the UK's ageing population and rising prevalence of chronic diseases. The demand for healthcare claims management systems is increasing as a result of pressure being placed on healthcare providers to process claims more quickly
Rising healthcare costs- A growing older population and improvements in medical technology are among the reasons contributing to an increase in healthcare costs in the UK. The administration of claims more effectively is one strategy that healthcare providers can use to cut expenses
Increasing use of Electronic Health Records (EHRs)- The National Health Service (NHS) of the UK is making investments in EHRs that are enhancing the effectiveness of medical claims processing. EHR adoption also makes it possible for more sophisticated analytics and reporting, which aids healthcare providers in better-managing claims
Advances in technology- Technological advancements like artificial intelligence, machine learning, and robotic process automation are driving the healthcare claims management industry

Market Restraints

The following factors are expected to limit the growth of the healthcare claims management market in the UK:

Brexit- The market for healthcare claims management may be impacted by the uncertainties surrounding healthcare legislation and policies caused by the UK's exit from the European Union
Data privacy concerns- The processing of sensitive patient data involved in healthcare claims management might give rise to questions about data privacy and security. The selection and implementation of healthcare claims management solutions that are consistent with data privacy requirements may become difficult for healthcare providers as a result
Fragmented Healthcare system- The NHS, private healthcare providers, and insurers are all part of the UK healthcare system. As a result, managing medical claims may become complicated because various providers may employ various protocols and procedures

Competitive Landscape

Key Players

Healthcode- is an industry leader in business process management. They collaborate with clients across 10 sectors to develop creative, digital-led transformational solutions by fusing our extensive industry knowledge with our strengths in technology and analytics
WNS- provides healthcare providers with medical billing, payment, and practice management solutions
Healix Health Services- With nurse-led claims and healthcare, Healix Health Services enhances the corporate healthcare plans' flexibility, quality, and value
Cognizant- a multinational corporation based in the US that provides consulting, operational, and digital services, including solutions for healthcare claims management
Allscripts Healthcare- a US-based provider of software and technology solutions for the healthcare industry, such as solutions for healthcare claims management
McKesson- is an American firm that distributes prescription drugs and offers tools for care management, medical supplies, and health information technology

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Healthcare Claims Management Market Segmentation

By Component (Revenue, USD Billion):

Further breakdown of the software and services segment of the healthcare claims management market

Software
Services

By Type (Revenue, USD Billion):

Although they have nothing to do with it, skills unrelated to patient care are equally crucial for any healthcare organization that wants to stay in business. Among these are managing intricate insurance regulations, comprehending best practices for data collection, and analyzing data to identify areas for development. For the above reasons, providers are constantly looking for methods to improve claim administration and medical billing systems. Setting up an integrated billing and claims processing system is one approach to accomplish this, which has a number of benefits.

Integrated Solutions
Standalone Solutions

By Delivery Mode (Revenue, USD Billion):

On-Premise
Cloud-Based

By End User (Revenue, USD Billion):

Healthcare Payers
Healthcare Providers
Other End Users

Healthcare payers in this market are anticipated to rise quickly over the course of the projection period because of the installation of strict regulatory requirements, a lack of experienced personnel internally for claims processing, rising healthcare expenditures, and fraud associated with those charges. Payers have also assisted healthcare providers by creating a web-based and cloud-based interface that helps them manage medical billing and associated claims and offers accurate and timely information about the epidemic.

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.