PUBLISHER: Allied Market Research | PRODUCT CODE: 1472376
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472376
The global direct primary care market is anticipated to reach $ 82,395.2 million by 2032, growing from $55,761.2 million in 2022 at a CAGR of 4.3% from 2023 to 2032.
The direct primary care (DPC) model is a practice and payment model where patients/consumers pay their physician or practice directly in the form of periodic payments for a defined set of primary care services. DPC practices charge patients a flat monthly or annual fee, under terms of a contract, in exchange for access to a broad range of primary care and medical administrative services. The DPC practice framework includes any practice model structured around direct contracting with patients/consumers for monthly or annual fees, which serve to replace the traditional system of third-party insurance coverage for primary care services. These periodic payments provide patients enhanced services over traditional fee-for-service medicine. Such services may include real-time access via advanced communication technology to their personal physician, extended visits, in some cases home-based medical visits, and highly personalized, coordinated, and comprehensive care administration. The American Academy of Family Physicians (AAFP) supports the physician and patient choice to, respectively, provide and receive healthcare in any ethical healthcare delivery system model, including the DPC practice setting.
The constantly rising geriatric population worldwide creates enormous prospects in the direct primary care industry. According to the World Health Organization (WHO), the global population aged 60 and above is predicted to reach 2.1 billion by 2050. Elderly patients have higher healthcare needs and must receive coordinated care for many comorbidities. Primary care physicians are the first point of contact for this demographic. They offer preventive care, manage chronic conditions, and facilitate smooth care transitions. Primary care physicians are well-suited to caring for the elderly due to their experience treating geriatric illnesses and emphasis on general well-being. This is a fundamental driver driving market expansion.
DPC covers basic primary care services, such as routine check-ups, preventive care, and minor acute illnesses. Patients may still need to purchase separate insurance or pay out-of-pocket for specialty care, hospitalizations, and other medical services not included in their DPC membership. Patients enrolled in DPC may have access to only one primary care provider or a small group of providers within the DPC practice. This lack of choice in providers could be a disadvantage for patients who prefer to have options or who need care from specialists outside the DPC network. These factors are anticipated to restrain the market growth.
DPC models offer patients with increased access to primary care services, often with extended appointment times and more personalized attention from physicians. This leads to improved patient satisfaction and loyalty. By eliminating the need for insurance middlemen and reducing administrative overhead, DPC practices can offer more affordable healthcare options for patients. The flat fee structure allows patients to budget for their healthcare expenses more predictably. DPC eliminates the need for physicians to navigate complex insurance billing processes, allowing them to spend more time delivering patient care. This can lead to reduced burnout rates among physicians and improved job satisfaction. DPC models provide flexibility for physicians to innovate and tailor services to meet the specific needs of their patient population. This could include incorporating telemedicine, offering extended hours, or implementing chronic disease management programs.
The key players profiled in this report include One Medical, Oak Street Health, Paladina Health, Forward Health, Crossover Health, EverMed, Plum Health, Nextera Healthcare, Boston Direct Health, and PeakMed. The market players are continuously striving to achieve an upper hand in this competitive market using strategies such as collaborations and acquisitions.
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