Care management is a crucial component of modern healthcare, designed to optimize patient outcomes and minimize avoidable costs. With the healthcare industry's transition to value-based care, the importance of effective care management has never been greater. Care management focused on high-risk patients with complex medical conditions. However, its scope has expanded to encompass a broader population, including those with chronic illnesses and other patients seeking preventive care. The goal is to provide personalized, holistic, coordinated care that addresses each patient's needs. Effective care coordination, particularly during episodic health changes, aids in lowering ambulatorysensitive admissions readmissions and curbing the overuse of costly, low-value care, ultimately impacting overall care costs. Patients requiring extended support participate in longitudinal care management programs.
The global care management market is projected to increase from $13.40 bn in 2023 to $23.85 bn by 2028, reflecting a robust CAGR of 12.23 percent during the forecast period (2023-2028). Longitudinal and digital tools, including virtual and remote patient monitoring (RPM), are crucial components of care management, especially for chronic patients who face barriers to traditional care access. RPM, defined by the American Heart Association as a subset of telehealth, leverages technology to collect and interpret patients' physiological data, enhancing care management effectiveness. An emerging trend involves automating workflows and employing Intelligent Document Processing (IDP) to streamline administrative tasks in care management, such as patient list management, appointment scheduling, and report dissemination to multiple care teams. Machine learning in healthcare is a notable trend to watch, as machine learning algorithms can assess complex variables like hospitalization history, patient records, social determinants, and medications to identify high-risk patients and deliver targeted care. Another trend is integrating home health and hospice into care management, offering a seamless continuum of care at home and transforming the entire care model for progressive care management groups and providers.
This Healthcare Tech Outlook edition brings the key developments in the care management space through thought leadership articles from Jonna Jenkins, Vice President of Patient Care Services/Chief Nursing Officer, Hutchinson Regional Healthcare System, and Corey Cronrath, Service Line Medical Director, Marshfield Clinic Health System.
Jonna Jenkins talks about improving patient experience by optimizing care management. Healthcare providers must aim to initiate changes to palliative care from the time of diagnosis, improving their quality of life, reducing hospital stays, and preparing them for the end stages of their diseases. Corey Cronrath highlights aspects of successful leadership in healthcare. Several key concepts are valuable in leadership roles, including actively adding value, making informed decisions, utilizing problem-solving methodologies, and effective communication.
This edition spotlights stories of companies offering exceptional solutions and services in the care management sector.
In this edition featuring the Top Care Management Solutions Providers in 2023, we hope you find the appropriate company suited to your business requirements.
