The global referral management market share is expected to expand and is expected to witnesspositive growth during the forecast period. The market growth is attributed to the increasing government initiatives in order to incorporate IT solutions in healthcare systems across the globe.The referral management system plays a vital role in the delivery of patient care. An efficient referral management system delivers care in a timely, accurate, efficient, and well-coordinated manner. While an inefficient referral management system results in unnecessary delays, fragmented care, duplication of services, or insurance denials.
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Referral management solutions offer a wide range of benefits which increases its adoption rate and hence gives a boost to the growth of the global referral management industry. For instance, referral leakage is one of the major areas of concern for doctors across the globe. Referral leakage has led to millions in lost revenue for health systems. An effective referral management system results in a significant reduction in referral leakage. This propels the demand for referral management solutions in the healthcare industry that, in turn, expand the size of the global referral management market.
Other Benefits offered by Referral Management System
Decreased Lead Times:Operational inefficiencies in the healthcare workplace results in bottlenecks in the care continuum. Deadtime is one of the majorinconveniences to both patients as well as providers. An effective referral management solution may save time on processes that health organizations can control. For instance, primary care providers (PCPs) frequently refer patients to specialists even when the specialty visit is not necessarily beneficial. These unnecessary visits lead to long waiting times, which, in turn, result in poor health outcomes. Having efficient processeswithin the health system will help to mitigate these issues and lead to shorter patient waiting times, higher patient satisfaction.
Improved Utilization:With an efficient referral management system, a patient’s progress can be trackedthrough the care continuum which helps in improving the utilization for both providers and staff. Online scheduling platforms and widgets can be used to see more patients. With such systems, patients can schedule their appointmentson the basis oftheir availability.
Improved Patient Access: One of the major benefits that an efficient referral management system offers is improved patient access.Patients can schedule appointments themselves and can even use e-consult features for communicating with providers.
Global Referral Management Market Segmentation
By Deployment Method
Global Referral Management Market Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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