Patient-centered medical home services is a care model designed to transform the comprehensive primary care delivery to adolescents, adults and children’s. It mainly seeks to improve efficiency and effectiveness of the care delivery while responding to each patient’s preference and needs. In 2007, patient center medical home principles were developed by the American college of physicians, American Osteopathic Association, American Academy of Family Physicians and American Academy of Pediatrics. The principles of patient-centered medical home services are coordinated care, comprehensive care, accessible services, patient-centered care, quality, and services.
Patient-centered medical home services are designed to meet a patient’s needs along with entire spectrum, from wellness to chronic and acute services. It also aims to develop a strong relationship between the patients, the healthcare provider, and the patient’s family. Patient-centered medical services are designed to improve access to care with increased care coordination. Patient-centered medical home services co-ordinate medical care across all elements of the health care system home health care, hospitals, community services and specialty care.
Rising medical spending continues to overwhelm the budget of the state, the patient-centered medical home services offers transformation of the health care delivery system. It can reduce costs and improve efficiency through comprehensive patient-centered medical home services. Government initiatives like 2010 patient protection and affordable care act contain provisions that support the implementation of patient-centered medical home services model includes Medicaid demonstrations, new payment policies and creation of Accountable Care Organizations. Government plays a key role in supporting and creating patient-centered medical home services market.
As of April 2013, 43 states of USA has policies promoting the patient-centered medical home services for CHIP beneficiaries or Medicaid. Other factors like Patient-centered medical home incentive programs are state, local, and private/public payer initiative that offers incentives to the participant that adopt the functions of patient-centered medical home services. All factors act as a driver in the burgeoning growth of the patient-centered medical home services market.
Adoption of the medical home services is slow in major emerging countries limited the growth of the patient-centered medical home services market. Basically patient-centered medical home services are at a nascent stage.Patient-centered Medical Home Services Market: Segmentation, Segmentation based on End User, Hospitals, ClinicsAmbulatory Surgical Centers
Global Patient-centered Medical Home Services market has witnessed a robust growth due to increasing adoption in developing countries. Patient-centered Medical Home Services market has a presence of many players which have a huge market share in developed countries operating at regional or country level. There are huge opportunities for the untapped markets in emerging countries due to less adoption of the Patient-centered Medical Home Services Market. The key players in the Patient-centered Medical Home Services market are mainly focused on expansion by collaborations and partnerships with state healthcare center in increasing the penetration of the services model. The future of Patient-centered Medical Home Services market anticipated with double CAGR during forecasting period.
Global Patient-centered Medical Home Services market segmented into following regions North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and the Middle East and Africa. North America is dominant in the Global Patient-centered Medical Home Services market mainly due to the high acceptance of home services model. In North America, particularly the USA is dominating due to the high penetration. Economic conditions in the APAC region are set to drive the Patient-centered Medical Home Services market to new heights.
European and APAC are fastest growing region due to raising awareness of home services. Growth in the Middle East and African region is considerably less when compared to the other regions. However, developed countries would maintain its position in the Patient-centered Medical Home Services market because of increasing awareness and rising adoption. The key participants in the Patient-centered Medical Home Services market mainly include end users.
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