Home > Healthcare > Healthcare IT > Payer/Provider Solutions > Technology Solutions in U.S. Healthcare Payer Market

Technology Solutions in U.S. Healthcare Payer Market Size

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

Download Free Sample

Technology Solutions in U.S. Healthcare Payer Market Size

Technology Solutions in U.S. Healthcare Payer Market size was valued at USD 7.6 billion in 2023 and is anticipated to showcase growth at 7.2% CAGR from 2024 – 2032. Increasing demand for streamlining operational workflow and reducing administrative expenses, shift towards value-based care approaches, and modernization of billing and claim settlement approaches are driving the adoption of technology solutions among payers, contributing to the overall market growth in the US.

To get key market trends

Download Free Sample

Furthermore, growing adoption of telehealth services among payers and providers is also positively impacting the revenue growth in the market. In the U.S. healthcare payer industry, technology solutions encompass a diverse array of software and digital tools. These solutions are designed to support various aspects of health insurance companies' operations, including administrative tasks, financial management, clinical processes, and regulatory compliance.

Technology Solutions in U.S. Healthcare Payer Market Report Attributes
Report Attribute	Details
Base Year:	2023
Technology Solutions in U.S. Healthcare Payer Market Size in 2023:	USD 7.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.2%
2032 Value Projection:	USD 14.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	41
Tables, Charts & Figures:	88
Segments covered:	Solution type, Payer type, and Application
Growth Drivers:	Increasing demand for streamlining operational workflow and reducing administrative expenses Shift towards value-based care approaches Modernization of billing and claim settlement approaches Growing adoption of telehealth services among payers and providers
Pitfalls & Challenges:	Stringent regulatory requirements related to data security and privacy Overreliance on traditional business models and practices

Learn more about the key segments shaping this market

Download Free Sample

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.