“Healthcare Quality Management Market (By Type- Business Intellegence & Analytics Solutions and Physician Quality Reporting Solutions. By Application– Data Management and Risk Management. By End-User- Hospitals, Payers, Ambulatory Care Centers and Others. By Delivery Mode- On-Premise Solutions and Web & Cloud Based) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2025”, in terms of revenue, the Healthcare Quality Management market was valued at US$ 1.27 Billion in 2016, and is expected to reach US$3.89 Billion by 2025, expected to grow at a CAGR of 13.3% from 2017 to 2025.
Quality management in healthcare ensures the service to be consistent. Healthcare quality management mainly comprises of four components: quality assurance, quality planning, quality improvement and quality control. Quality management involves assessment, measurement and improvement. Healthcare sectors track performance by various measurement activities to accumulate information about the condition of patient care and support functions. If the expectation is not met, the organization implements changes to bring improvement in the performance. In the healthcare sectors, the increase in number of unstructured data and the rise in need to diminish medical errors and healthcare costs are the major factors driving the market growth for healthcare quality management. Additionally, in recent days, government instruction for healthcare providers to report quality is augmenting the growth of healthcare quality management market. Quality management brings improvement in healthcare organization which is essential to maintain level of performance. The ongoing focus on improvement by the healthcare industries is expected to enhance the market growth during the forecast period of 2017-2025.