Transitional Care Management Services

Transitional Care Management Services

The transitional phase between the inpatient and community settings is addressed by transitional care management (TCM) programs. The patient may be dealing with a medical emergency, a recent diagnosis, or a modification in their pharmaceutical prescription following a hospitalization or other inpatient facility stay. TCM services can also help to reduce hospital readmissions by reducing gaps in care and ensuring patients have the support they need following a discharge. Further, the increasing demand for transitional care management services due to the rising chronic disease, injury, and CVDs are all expected to fuel the growth of this market. For instance, according to the American Heart Association, nearly half of adults in the U.S. have some type of CVD. By 2035, it is projected that more than 135 million adults or 45.1% of the U.S. population are projected to have some form of CVD.

The transitional care management services market is expected to grow at a steady rate of around 16% owing to the increasing number of surgeries coupled with injuries due to road accidents. Also, the prevalence of dementia and Alzheimer's disease has resulted in an increasing need for long-term care facilities for the elderly population will boost the market growth over the forecast period.

• Based on services, the market is segmented into patient TCM services, healthcare TCM services, billing TCM services, documenting TCM services, and others. Among them, the patient TCM services category is to witness a higher CAGR during the forecast period. This is mainly due to the growing geriatric population coupled with various chronic diseases and the presence of transitional care centers.
• On the basis of end-user, the market is categorized into inpatient settings and community settings. Among these, the community settings category held a significant share of the market in 2020. The majority of post-discharge patient care takes place in community settings. These settings include home, domiciliary, nursing homes, and assisted living. These facilities provide the possibility of improving patient outcomes and quality of life while reducing hospital stay charges and lowering the chances of readmission which will contribute to the growth of the segment.
• For a better understanding of the market adoption of the transitional care management services industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is due to the rising number of surgeries, injuries, and serious chronic illnesses that have contributed to the demand for transitional care in the region. For instance, according to the U.S. Centers for Disease Control and Prevention (CDC), 6 people out of 10 people are affected by chronic diseases. Chronic disease is among the leading causes of death in the U.S. and it accounts for USD 3.5 trillion in annual healthcare costs. Further, the demand for transitional care management services in the region is also being driven by some other factors such as rising standards of living, growing disposable income, and an increasing number of nursing homes.
• Some of the major players operating in the market include Humworld Inc.; Rijuven Corp.; PharMerica Corporation; CareVitality; ACT Health Solutions; Medsien, Inc.; Wellsky; NXGN Management, LLC.; ProHealth Select; and FI-Med Management, Inc.