Unemployment cut into workers' compensation claims, a key source of demand
Los Angeles, CA (PRWEB) September 26, 2013
Over the past five years, the Medical Case Management Services industry has achieved steady growth as a result of expanded usage for primary medical care and workers' compensation claims. Companies in the industry serve as a liaison between patients and healthcare providers in order to ensure appropriate and cost-effective treatment plans for patients. Typically, insurance companies, employers, third-party administrators, primary care facilities and hospitals employ industry operators. Case management services are also funded through Medicare and Medicaid programs to assist the elderly, disabled or other at-risk persons in receiving and managing publicly funded medical care.
According to IBISWorld Industry Analyst Anna Son, “In the five years to 2013, industry revenue grew at an average annual rate of 1.8% to $5.7 billion.” However, Medical Case Management Services industry revenue did contract briefly in 2009 as heightened unemployment led to lower demand for case management services for employee medical claims. Furthermore, industry growth slowed as a result of changing regulations regarding Medicaid reimbursement levels for case management services. In the past three years, however, industry revenue has grown steadily, partly as a result of slowly improving US employment, which has increased the number of workers' compensation claims. In 2013, industry revenue is expected to rise 4.1%.
In the next five years to 2018, industry revenue is projected to rise. “Industry growth will be supported by continued improvement in US employment levels, which will increase demand for case managers in the advent of workplace injuries,” says Son. Moreover, continued implementation of the Patient Protection and Affordable Care Act is expected to lead to greater demand for case management services for cost-containment measures and preventative treatment for patients.
For more information, visit IBISWorld’s Medical Case Management Services in the US industry report page.
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IBISWorld industry Report Key Topics
The Medical Case Management Services industry includes companies that plan and coordinate healthcare services appropriate for medical rehabilitation. These services include care assessment and recommending treatment plans to ensure that appropriate medical care is provided to disabled, ill or injured individuals.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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