The transitional care management services market size is estimated to be USD 176,756.2 million in 2022 and is expected to witness a CAGR of 17.68% during the forecast period 2023-2033. Decreased readmissions to healthcare facilities, high-quality treatment given by TCM services, and low cost of TCM services are projected to drive the market growth in near future. Furthermore, increasing geriatric population and escalating chronic disease burden across the world are other factors supporting the market growth. However, lack of awareness and shortage of skilled workforce are predicted to limit market.

Increasing geriatric population is expected to propel the market growth during the projected period. For instance, the U.S. is one of the key countries with an aging populations and expanding transitional care facilities, according to the rural health information centre. More than 46 million older people in the country are over 65. The number of older citizens is expected to rise by about 18 million between 2020 and 2030. In addition, it is anticipated that there would be close to 90 million by 2050.

Low cost of TCM services is predicted to fuel the market growth during the forecast period. According to the most recent research, transitional care management services are most likely to give patients a simpler approach to save hospital expenditures and the readmission rate. For instance, Allevant Solution announced in March 2020 that it will be supplying CAHs with transitional care by way of a five-part webinar series and learning modules. Additionally, there are almost 1,300 fully staffed critical access hospitals in the United States, which helped ease the pressure on PPS acute care hospitals during the COVID-19 outbreak.

Segmentation

By Service

The market is categorized into healthcare TCM services, documenting TCM services, patient TCM services, billing TCM services, and others. In 2022, the patient TCM services segment accounted for the highest revenue share due to the lower costs in the months following the provision of the treatments. For instance, home-based primary care has resulted in a 20% decrease in ER visits and a 50% reduction in hospital readmissions, according to PharMerica. TCM treatments are therefore anticipated to lessen post-discharge problems, which are anticipated to fuel demand for patient TCM services over the projected period. The fastest CAGR is predicted for TCM billing services. TCM service providers in the medical field account for a large portion of the billing for these services. These TCM services emphasize on assessing the patient’s discharge process and payment information, including any potential need for testing, treatments, and follow-up care as needed.

By End User

The market is categorized into community settings and inpatient settings. In the global market, the community settings segment accounted for the largest revenue share in 2022 owing to majority of patients are shifted to community settings after discharge. For life-threatening injuries, these settings are preferred as they reduce the chance of hospital readmissions and minimize patient transfer-related difficulties. Home, domiciliary, nursing homes, and assisted living are types of community settings. The majority of post-discharge care interventions take place in community settings. These facilities provide a chance to enhance patient care and quality of life while lowering hospital stay expenditures overall and lowering the chance of readmission. Community centers are regarded as a practical option for patients recovering from life-threatening injuries, particularly in the case of geriatric patients, as they reduce the risk of hospital readmission, ease the burdens associated with the transfer of care, and boost general patient satisfaction, driving the segment.

Regional Markets

In 2022, North America region accounted for the highest revenue in the transitional care management services market and is expected to maintain its dominance during the forecast period. This is attributed to major market companies who operate in this region. The ageing population burden and availability of advanced healthcare facilities have opened up new potential growth for the market for TCM services. Additionally, the demand for after-care has been influenced by the rise in surgeries, accidents, and major illnesses. Asia Pacific is predicted to grow at the fastest CAGR of 18.3% over the course of the projection period due to the factors such an ageing population, increase in surgeries, prevalence of diseases, and growth of healthcare facilities in the region. The market now has new potential opportunities in the future due to the existence of growing nations such as China and India. For instance, HCAH opened a third transition care facility in India in October 2021. In North India, it is the first. The healthcare gap between homes and tertiary care hospitals is anticipated to be filled by the HCAH transition care facility.

Competitor Insights

Some of the key players operating in the transitional care management services market are Rijuven Corp., Humworld Inc., Prohealth Select, CareVitality, ACT Health Solutions, PharMerica Corporation, Medsien, Nextgen Healthcare, Wellsky, and Well Living Initiative (WLI).

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Steth IO brings up the new Physician Fee Schedule, which includes TCM codes that permit payment for non-face-to-face care services provided to patients transferring from an acute care facility to the community. CPT codes 99495 and 99496 are the two new codes to use when paying for the services.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including service and end user from 2022 to 2033.

Report Scope:

Segmentation: Transitional Care Management Services Market Report 2022 – 2033

Service (Revenue, USD Million), 2022 – 2033

• Healthcare TCM Services
  • Non-physician Practitioners
  • Physicians
• Documenting TCM Services
• Patient TCM Services
  • Face-to-face Visit
  • Interactive Contact
  • Non-face-to-face
• Billing TCM Services
• Others

End user (Revenue, USD Million), 2022 – 2033

• Community Settings
• Inpatient Settings

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA