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Technology Solutions in U.S. Healthcare Payer Market Share

Report ID: GMI9539
Published Date: May 2024
Report Format: PDF

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Technology Solutions in U.S. Healthcare Payer Market Share

The market is fragmented due to the presence of large number of solution providers in the country, each addressing specific needs and functions within the payer ecosystem. Smaller players are focusing towards offering innovative solutions to healthcare payers only within specific segments such as claim management, and analytics. Lower entry barriers such as requirements for low capital investments is also driving large number of smaller players into the market. However, established vendors are using inorganic growth strategies such as acquisition and merger to gain competitive edge in the market.

Technology Solutions in U.S. Healthcare Payer Market Companies

Prominent players operating in the technology solutions in U.S. healthcare payer industry include:

Cognizant Technology Solutions Corporation
HCL Technologies Limited
HealthEdge Software, Inc.
Hyland Software, Inc.
KMS Healthcare
Medecision
MedHOK, Inc.
Open Text Corporation
Oracle Corporation
OSP
Pegasystems Inc.
System Soft Technologies LLC
Virtusa Corp.
ZeOmega, Inc.
Zyter, Inc.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Technology solutions in U.S. healthcare payer industry was valued at USD 7.6 billion in 2023 and is anticipated to showcase 7.2% CAGR from 2024 – 2032, due to the increasing need for streamlining operational workflow and reducing administrative expenses.

The integrated solution type segment is anticipated to grow at 7.5% CAGR up to 2032, due to the growing demand for user experience through offering personalized solutions.

The claims management application segment held 31.5% share in 2023 and is anticipated to grow at 7.4% CAGR up to 2032, led by rapid technological advancements, such as digital engagement, automation, AI and advanced analytics.

Cognizant Technology Solutions Corporation, HCL Technologies Limited, HealthEdge Software, Inc., Hyland Software, Inc., KMS Healthcare, Medecision, MedHOK, Inc., Open Text Corporation, Oracle Corporation, OSP, and Pegasystems Inc.