The versatility of the Insurance and Managed Care Market report caters to both seasoned veterans and newcomers in the Insurance and Managed Care Market industry, offering a comprehensive grasp of the market dynamics. This report not only unravels intricate business challenges but also streamlines the decision-making process with astute solutions. Encompassing a wide scope, this market research report delves into industry research, customer insights, market sizing and forecasts, competitive analyses, market entry strategies, pricing trends, sustainability and innovation trends, technology evolution, and assessments of distribution channels. It meticulously investigates the present market scenario while projecting future estimations, encapsulating numerous market dynamics.
Within the Insurance and Managed Care Market report, CAGR values and their fluctuations over specific forecast periods are unveiled, driven by a transparent research methodology executed with precision tools and techniques, setting the standard for excellence in market research. This study aids businesses in comprehending the manifold drivers and restraints that shape the market throughout the forecast period. By furnishing actionable market insights and comprehensive analyses, this Insurance and Managed Care Market report serves as a valuable asset. The key research methodology adopted by the DBMR research team involves data triangulation, incorporating data mining, analysis of data variable impacts on the market, and primary validation through industry experts.
In 2019, the Preferred Provider Organization (PPO) segment led the healthcare insurance market with a 28.0% revenue share. The Affordable Care Act (ACA) implemented in the United States focuses on expanding health coverage to low-income individuals
Definition
Managed care plans are a type of health insurance contract with healthcare providers and medical facilities to provide patients with hospital care at a lower cost. These providers build the managed care network, which determines how much patients' planned care will cost. Managed care is primarily intended to reduce unnecessary health care costs through various mechanisms such as incentives for physicians and patients to choose less expensive forms of care, programmes for reviewing medical relevance for specific services, increased beneficiary cost sharing, controls on inpatient admissions and stay time, and the implementation of cost-sharing incentives for outpatient surgery.
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Key Growth Drivers:
Increasing cost of medical services
Health insurance provides financial assistance for a serious illness or accident. The rising cost of medical services such as surgeries and hospital stays has created a new financial crisis around the world. The cost of medical services includes the cost of surgery, doctor fees, hospital stay costs, emergency room costs, and diagnostic testing costs. As a result, the rise in the cost of medical services drives the market growth.
Growing number of daycare procedures
Daycare procedures are medical procedures or surgeries that require only a short stay in the hospital. Patients are required to stay in the hospital for a short period of time during the daycare procedure. The majority of health insurance companies now cover daycare procedures in their insurance plans, and there is no requirement to spend 24 hours in the hospital, which is the minimum stay in the hospital to claim insurance. While the majority of health insurance plans cover hospital stays and major surgeries, policyholders can also claim daycare procedures through their health insurance policy, which drives the market demand.
The report emphasizes the participation of key entities, notably:
- Anthem Insurance Companies, Inc (U.S.)
- Kaiser Foundation Health Plan, Inc (U.S.)
- Centene Corporation (U.S.)
- Amerigroup Corporation (U.S.)
- Humana Inc (U.S.)
- Bupa (U.K.)
- Now Health International (China)
- Cigna (U.S.)
- Aetna Inc. (U.S.)
- AXA (France)
- HBF Health Limited (Australia)
- Vitality (U.K.)
- Centene Corporation (U.S.)
- International Medical Group, Inc (U.S.)
- Broadstone Corporate Benefits Limited (U.K.)
- Allianz Care (France)
- Assicurazioni Generali S.P.A. (Italy)
- Aviva (U.K.)
- Vhi Group (Ireland)
- UnitedHealth Group (U.S.)
- MAPFRE (Spain)
- AIA Group Limited (Hong Kong)
Key Market Perspectives:
- Thorough examination of prevailing market tendencies
- Updates on the latest product advancements and innovations
- Insurance and Managed Caremarket's Compound Annual Growth Rate (CAGR) for both historic and forecasted years
- Strategies and activities of prominent players and brands in the field
- Insights into the industry landscape for emerging participants
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Key Market Segmentation
Type (Health Maintenance Organizations (HMOs), Exclusive Provider Organizations (EPOs), Preferred Provider Organizations (PPOs), Point of Service Plans (POS)), Applications (General Utilization Management, Large Case Management, Speciality Utilization Management, Disease Management, Rental Networks and Workers Compensation Utilization Management), End User (Corporates, Individuals, Others), Distribution Channel (Direct Sales, Financial Institutions, E-commerce, Hospitals, Clinics, Others)
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