Transitional Care Management Services Market is Estimated to Witness High Growth Owing to Rising Adoption of Healthcare IT Solutions
The transitional care management services market involves services that are designed to help care transition from one care setting to another and reduce preventable hospital readmissions. With increasing chronic disease prevalence and the aging population who require continuous monitoring, transitional care management services help healthcare providers coordinate care across different settings. The services include assessing patient needs, developing care plans, educating and supporting patients and caregivers, interacting with other care providers, and tracking health outcomes post-discharge.
The global transitional care management services market is estimated to be valued at US$ 230.26 Bn in 2024 and is expected to exhibit a CAGR of 15.% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the transitional care management services are PharMerica Corporation, Reliq Health Technologies, Inc., WellSky, Humworld Inc., Rijuven Corp., CareVitality, ACT Health Solutions, Medsie, Nextgen Healthcare, Prohealth Select, Well Living Initiative (WLI), BrightStar Care, VNA Health Group, Premier Home Health Care Services, CareCentrix, Aveanna Healthcare, Optum.
Key opportunities in the Transitional Care Management Services Market Demand growing geriatric population, rising need for reducing healthcare costs, and increasing adoption of value-based healthcare models. The use of advanced healthcare IT solutions aids in better care coordination, monitoring and management of patients across settings.
Technological advancements like remote patient monitoring devices, mHealth apps, telehealth solutions and integration of AI & analytics are aiding transitional care. Healthcare providers are adopting digital platforms for seamless data sharing between care settings to improve outcomes. Wearable sensors enable continuous monitoring of vital signs post-discharge and alert caregivers in case of deterioration.
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