Per-encounter medical services refer to medical treatments provided on a per-visit basis, rather than the traditional fee-for-service model. This approach is revolutionizing the healthcare landscape by offering more cost-effective and convenient care options for patients.
Global per-encounter medical market is experiencing considerable growth due to various factors. Patients are increasingly seeking more affordable healthcare options, and per-encounter medical services provide an attractive alternative. Advancements in technology have made it possible to deliver high-quality care remotely, further driving the demand for per-encounter medical services.
Global per-encounter medical market is propelled by several drivers. Firstly, the rising healthcare costs are prompting patients to seek alternative care options that are economically viable. Per-encounter medical services offer transparent pricing and allow patients to pay only for the services they need, thus making healthcare more accessible. Moreover, the increasing prevalence of chronic diseases and the aging population further contribute to the demand for per-encounter medical services. Increasing prevalence of diseases such as cancer and end stage renal disease, which require longer duration therapies (dialysis and chemotherapy) is expected to drive the market growth. For instance, in January 2022according to data published in the Cancer Facts & Figures report by the American Cancer Society, , around 1.9 million new cancer cases was estimated to be diagnosed and 609,360 cancer deaths were reported in the U.S.
However, the market also has restraints. Lack of reimbursement policies and the absence of standardized regulations can hinder the growth of the per-encounter medical market. There may be concerns regarding the quality and continuity of care, as per-encounter medical services focus more on episodic care rather than comprehensive medical management.
Despite these challenges, the per-encounter medical market presents ample opportunities. The growing adoption of telemedicine and remote monitoring technologies provide a potential avenue for expansion. These technologies enable healthcare providers to reach underserved areas and offer healthcare services virtually, thereby fostering the growth of per-encounter medical services. Furthermore, collaborations between healthcare providers and insurance companies can help address reimbursement concerns and drive market growth.
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