U.S. Healthcare Finance Solutions Market Growth & Trends
The U.S. healthcare finance solutions market size is expected to reach USD 89.8 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.7% from 2022 to 2030 The need for capital investment and the development of healthcare infrastructure are some of the key factors boosting the growth of the market. The COVID-19 pandemic has positively changed the growth projections of the market.
Healthcare is an evolving and expanding industry. The increasing prevalence of diseases, advances in digital technology, and the introduction of novel drugs and medicines have led to a rise in healthcare demand and expenditure. In today’s world, the healthcare system is shifting from volume to value-based care to improve patient care and engagement. Competitive pricing & improved quality of healthcare services and changes in reimbursement plans in the U.S. are expected to drive the healthcare finance solutions market over the forecast period.
The COVID-19 pandemic has increased the adoption of digitalization in healthcare. It has increased the requirement for funding in the healthcare sector to maintain the cash flow of day-to-day activities. With increased costs related to COVID-19 and the lost revenue from the cancellation of outpatient office visits, elective surgeries, and elective procedures, hospitals throughout the country became financially stressed.
The increasing consumer demand and frequently changing laws are also contributing to the growth. For instance, in 2016, the mission of The Department of Health and Human Services has entailed improving patient outcomes and reducing medical costs. These changes are driving the need for financial services in the healthcare sector. Also, the requirement for investment in advanced and innovative technology and services to reduce the overall healthcare expenditure is expected to propel the market growth during the forecast period.
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U.S. Healthcare Finance Solutions Market Report
U.S. Healthcare Finance Solutions Market Report Highlights
- Based on equipment type, the decontamination equipment segment held about 36.0% of the market share in 2021 due to the high cost of equipment
- Based on healthcare facilities, the hospitals & health systems segment dominated the market in 2021 with a share of 24.9% due to the increasing prevalence of chronic diseases and the need to treat them along with handling patient data
- Equipment and technology finance services dominated the market in 2021 with a 45.0% revenue share due to the rising need for financial assistance for providing medical care services to patients
- Private players in the largest lender segment account for 51.1% of the market share in 2021 This is attributed to the factors such as great ROI, various tax benefits & offers provided by the private players
