Thailand Healthcare Claims Management Market Analysis

Thailand Healthcare Claims Management Market Analysis


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Thailand's healthcare claims management market is projected to grow from $32.04 Mn in 2022 to $176.11 Mn by 2030, registering a CAGR of 23.74% during the forecast period of 2022 30. The main factors driving the growth would be growing health insurance coverage, the aging population, increasing healthcare fraud and abuse, and rising adoption of technology. The market is segmented by component, type, delivery mode, and end-user. Some of the major players include Thai Re-Insurance, Med-Sure Services, United Health Group, AXA, and Allianz.

ID: IN10THHS006 CATEGORY: Healthcare Services GEOGRAPHY: Thailand AUTHOR: Neha Davda

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Thailand Healthcare Claims Management Market Executive Summary

Thailand's healthcare claims management market is projected to grow from $32.04 Mn in 2022 to $176.11 Mn by 2030, registering a CAGR of 23.74% during the forecast period of 2022-30. In 2019, Thailand's government spent 3.79% of its GDP, or $296 per person, on healthcare. Thailand is regarded as one of the world's most competitive countries for locating affordable, superior healthcare. The expense of healthcare in Thailand is around one-fifth as high as it is in the US and Europe.

Management of medical claims from patients and healthcare providers includes accepting, processing, and paying those claims. In order to resolve any differences or problems, it entails checking patients' eligibility, analyzing medical data, processing claims, and speaking with insurers and healthcare providers. As it facilitates the payment process for healthcare providers and insurance companies, the healthcare claims management market in Thailand plays a significant role in the healthcare sector. With the advent of mobile apps that let patients submit claims and monitor their progress online, as well as electronic claims processing systems, there has been a recent trend in Thailand towards the use of technology in healthcare claims management.

Thailand Healthcare Claims Management Market

Market Dynamics

Market Growth Drivers

The Thailand healthcare claims management market is expected to be driven by factors such as:

  1. Growing health insurance coverage- In Thailand, the proportion of citizens who have health insurance has been rising over time. For the processing and management of insurance claims, this has led to a demand for effective and precise healthcare claims management solutions
  2. Ageing population- The need for healthcare services is anticipated to rise in Thailand as a result of the country's ageing population. In order to handle the growing workload, healthcare practitioners will require more effective and efficient healthcare claims administration solutions
  3. Increasing healthcare fraud and abuse- In Thailand, there is an increasing issue with healthcare fraud and abuse. Healthcare providers are looking for more complex and cutting-edge healthcare claims management solutions that can identify and stop fraudulent actions to tackle this problem
  4. Rising adoption of technology- Thailand's healthcare sector is moving more and more in the direction of technology. Electronic medical records (EMRs) and other digital tools are being adopted by hospitals and clinics to enhance patient care and simplify administrative work. Healthcare claims management solutions that can interact with these digital systems are now required as a result of this

Market Restraints

The following factors are expected to limit the growth of the healthcare claims management market in Thailand:

  1. Limited access to healthcare in rural areas- Even though the government has made significant investments in the infrastructure of the healthcare system, access to healthcare in rural areas is still limited. Healthcare claims management solutions may find it challenging to function well in these environments as a result
  2. Limited financial resources- Some healthcare organisations, especially smaller ones, might not have the money to spend on healthcare claims management solutions. This may restrict the use of these solutions and hinder their market expansion
  3. Lack of standardization- In Thailand, there is a lack of consistency in the handling and processing of claims. Healthcare claims management solutions struggle to function effectively and efficiently as a result. Also, it makes healthcare professionals and insurers confused, which can result in mistakes and delays

Competitive Landscape

Key Players

  • Thai Re Insurance- provides numerous services to the insurance industry and private firms, such as health claim management for insurance companies and employee health benefits administration for private companies, as well as consultation and training for employees in the insurance industry, in order to improve competitiveness, boost the efficiency of service delivery to clients, and promote customer happiness
  • Med-Sure Services- Med-Sure Services provides a cutting-edge claims processing system with auto-adjudication. They provide services that are available for both individual and group insurance products and are tailored to the needs of their customers
  • United Health Group- is a well-known international healthcare provider that offers many healthcare services, such as healthcare claim management. Through its subsidiary, UnitedHealthcare Thailand, the company offers medical services and health insurance in Thailand. In order to ensure that patients receive the correct reimbursement, its healthcare claim management services monitor insurance claims, conduct medical billing, and work with healthcare providers
  • AXA- is a multinational insurance provider that provides healthcare and health insurance to people and companies in Thailand. In order to guarantee that patients receive the proper care, the company's healthcare claim management services include monitoring insurance claims, working with healthcare providers, and supporting patients all along the claims process
  • Allianz- is a global provider of financial services that provides life and health insurance to individuals and companies in Indonesia. They provide claim administration for dental procedures, outpatient care, and hospitalisations

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Healthcare Claims Management Market Segmentation

By Component (Revenue, USD Billion):

Further breakdown of the software and services segment of the healthcare claims management market

  • Software
  • Services

By Type (Revenue, USD Billion):

Although they have nothing to do with it, skills unrelated to patient care are equally crucial for any healthcare organization that wants to stay in business. Among these are managing intricate insurance regulations, comprehending best practices for data collection, and analyzing data to identify areas for development. For the above reasons, providers are constantly looking for methods to improve claim administration and medical billing systems. Setting up an integrated billing and claims processing system is one approach to accomplish this, which has a number of benefits.

  • Integrated Solutions
  • Standalone Solutions

By Delivery Mode (Revenue, USD Billion):

  • On-Premise
  • Cloud-Based

By End User (Revenue, USD Billion):

  • Healthcare Payers
  • Healthcare Providers
  • Other End Users

Healthcare payers in this market are anticipated to rise quickly over the course of the projection period because of the installation of strict regulatory requirements, a lack of experienced personnel internally for claims processing, rising healthcare expenditures, and fraud associated with those charges. Payers have also assisted healthcare providers by creating a web-based and cloud-based interface that helps them manage medical billing and associated claims and offers accurate and timely information about the epidemic.

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

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The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 23 October 2023
Updated by: Dhruv Joshi

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