Transitional Care Management Services Market Will Grow at CAGR of 14.79% By 2032

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Table of Content

The global transitional care management services market size is anticipated to reach around USD 813.59 billion by 2032 up from USD 204.7 billion in 2022 with a CAGR of 14.79% Between 2023 and 2032.

As transitions are frequently the riskiest and most expensive aspects of the total care experience, transitional care management is an essential component of the healthcare process. All transitions, from the hospital to a rehabilitation centre or from the hospital to the patient's home, require meticulous preparation and coordination from all engaged care team members.

The procedure is governed by rules for Transitional Care Management, which were created to ensure that changes in settings go smoothly and without endangering a member's health. Additionally, cutting-edge software tools have been created to support care transitions with improved team coordination and communication.

The demand for post-discharge facilities, rising disease, injury, and surgery rates, and the aging population are all predicted to fuel the market's robust expansion. In addition, cost-effectiveness has stimulated market expansion. For instance, according to the Rural Health Information Center, the U.S. is one of the major nations with a senior population. Over 46 million older individuals (65 and older) reside in the United States. The number of senior citizens will likely rise by about 18 million between 2020 and 2030. Furthermore, the number will likely increase to about 90 million by 2050. This element is likely to propel the market quickly.

The market has seen an increase in demand for transitional care services following COVID-19, particularly among seniors.

Additionally, the use of transitional care management services has been prompted by increased market participation and a growing need to enhance patient care. According to PharMerica, home-based primary care has reduced emergency room visits by 20% and hospital readmissions by 50%.

Therefore, TCM services are anticipated to decrease post-discharge problems and increase demand for transitional patient care.

Transitional Care Management Services Market Report Scope:

Report Highlights

• By service, the TCM patient services category led the market in 2022 with a share of over 30.0%. The fastest CAGR, 18.2%, is predicted for TCM billing services between 2022 and 2030. For instance, home-based primary care has resulted in a 20% decrease in ER visits and a 50% drop in hospital readmissions.
• By end-use, community centres are viewed as a practical option for patients recovering from life-threatening injuries, particularly in the case of geriatric patients. They reduce the risk of hospital readmission, ease the burdens associated with the transfer of care, and boost general patient satisfaction. The majority of post-discharge care interventions take place in community settings.
• By region, North America dominated the TCM market in 2022 with a more than 46.6% share. The aging population and availability of advanced healthcare facilities opened up new growth prospects for the market. Asia Pacific will likely grow at the quickest CAGR of 20.4% for the forecast period. HCAH (previously Healthcare atHOME) opened a third transition care facility in India in October 2022.

Market Dynamics:

Market Drivers:

The demand for post-discharge facilities, rising disease, injury, and surgery rates, and the aging population are all predicted to fuel the market's robust expansion. In addition, cost-effectiveness has stimulated market expansion. For instance, according to the Rural Health Information Center, the U.S. is one of the major nations with a senior population. Over 46 million older individuals (65 and older) reside in the United States. There will likely be around 18 million more elderly people worldwide by 2030. Furthermore, the number will likely increase to about 90 million by 2050. This element will likely propel the market quickly.

Early in the COVID-19 outbreak, most of the population could not obtain transitional care management (TCM) services because of lockdowns and safety concerns. Nevertheless, TCM services were provided via non-face-to-face (telehealth), which raised the demand for telemedicine. The market has seen an increase in demand for transitional care services following COVID-19, particularly among seniors.

The use of management services in transitional care is also a result of an increase in market participants and a demand for better patient care. According to PharMerica, home-based primary care has reduced emergency room visits by 20% and hospital readmissions by 50%. Therefore, TCM services are likely to decrease post-discharge problems and increase demand for transitional patient care.

Regional Snapshot:

The market was dominated by North America in 2022, with a share of more than 46.6%. Due to the major market companies who operate in this area, the market in North America is quite competitive. The aging population load and the availability of advanced healthcare facilities have opened up new growth prospects for the market for TCM services. Additionally, the demand for after-care has been influenced by the rise in surgeries, accidents, and major illnesses.

Due to factors such as the aging population, an increase in surgeries, the prevalence of diseases, and the growth of healthcare facilities in the region, Asia Pacific is likely to grow at the quickest CAGR of 18.3% for the forecast period. The market now offers fresh potential opportunities in the future thanks to growing nations like China and India. For instance, HCAH (previously Healthcare atHOME) opened a third transition care facility in India in October 2021. In North India, it is the first. The HCAH transition care facility will probably bridge the healthcare gap between primary care clinics and tertiary care hospitals.

Competitive Analysis:

To increase their market position, the industry participants are putting more and more emphasis on launching new services and extending existing ones. For instance, Steth IO brought up the new Physician Fee Schedule, which includes TCM codes that permit payment for non-face-to-face care services provided to patients moving from an acute care environment to the community. The two new CPT codes to use when paying for those services are 99495 and 99496. The following are some significant participants in the global market for transitional care management services:

• Humworld, Inc.
• NextGen Healthcare
• ProHealth Select
• Madsen
• ACT Health Solutions
• Well Living Initiatives
• CareVitality

Market Segmentation:

By Services

• Patient TCM Services
• Interactive Contact (Direct Contact, Telephone, Electronic)
• Face-to-face Visit 
• Non-face-to-face (Telehealth)
• Healthcare TCM Services
• Physicians
• Non-Physician Practitioners
• Billing TCM Services
• Documenting TCM Services
• Others

By End-Use

• Inpatient Settings
• Community Settings

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