Transitional Care Management Services Market Size, Share, and Trends 2024 to 2034

Transitional Care Management Services Market Size and Forecast 2024 to 2034

The global transitional care management services market size is calculated at USD 269.75 billion in 2024 and is anticipated to reach around USD 1,071.50 billion by 2034, expanding at a CAGR of 14.79% between 2024 and 2034. A growing number of patients with chronic illnesses globally will likely fuel the growth of the transitional care management services market. The demand for geriatric patient care has surged in the global transitional care management services market.

Transitional Care Management Services Market Key Takeaways

• The North America region has dominated the market with a revenue share of around 47% in 2023.
• The Asia Pacific market is expected to grow at a CAGR of 18.6% over the forecast period
• By service, in 2022, the patient TCM services segment has dominated the market with a revenue share of over 31%. However, the billing TCM services segment is growing at a CAGR of 18.4% from 2024 to 2034.
• By end-use, the community settings segment has accounted highest revenue share of 56.5% in 2023.

U.S. Transitional Care Management Services Market Size and Growth 2024 to 2034

The U.S. transitional care management services market size is estimated at USD 88.75 billion in 2024 and is predicted to be worth around USD 358.82 billion by 2034, growing at a CAGR of 14.98% between 2024 and 2034.

North America dominates the global transitional care management services market and accounted for 46.6% in 2023. Geographically due to its senior population (people above 65). Along with this, the rapid development of healthcare infrastructure in recent years to provide valuable healthcare services to patients has propelled the growth of the transitional care management services market in North America. Due to the evolving healthcare systems and noticeable investments, developments, and acquisitions in the market, the Asia Pacific region will likely grow at a CAGR of 18.6% during the forecast period of 2024-2034.

With rising awareness of mobile healthcare management and technological advancement in the healthcare sector, the market in Europe has shown significant growth in recent years. Considering the market scenario in Latin America, the escalating demand for quality healthcare for older adults is seen as a driving factor for market growth. The healthcare infrastructure in the Middle East and Africa is still growing. Growing adaptation to telehealth by healthcare providers is likely to boost growth in the Middle East and Africa. 

Market Overview

Transitional care management (TCM) service is a broad concept in the healthcare sector that ensures the continuity of healthcare to control high-risk medical conditions such as chronic diseases (cardiac diseases, cancer, or diabetes). The transitional care management service is designed to provide a safe transfer of patients from one setting to another setting of care. It is primary care that can last up to 30 days. Transitional care management (TCM) aims to fill the gaps in patient care. The system works for patients that are bedridden, suffering from any chronic disease, or discharged from the hospital after surgery. The transitional care management (TCM) service reduces readmissions in the hospital by providing timely healthcare. 

The service includes certified nurses, professional practitioners, and physician's assistants. Patients discharged from long-term care in a hospital require ongoing observation or partial hospitalization in transitional care management (TCM) services. Transitional care management (TCM) services support quality monitoring of patients and cost management. Patients that are discharged from prolonged hospitalization or surgery need a particular observation to follow up or may have been advised for home-based therapy. Some patients are likely to start a new medication after discharge that needs education regarding the dosage. Transitional care management (TCM) services play a vital role in the primary care of such patients. The service is also crucial in smoothly moving patients from hospital to home. 

The transitional care management (TCM) service has become a boon for the healthcare sector globally. It provides proper coordination for medical conditions, support for daily living, and manages psychological needs. The Covid-19 pandemic affected the global transitional care management services market in the initial phase. However, the demand for transitional care management services was boosted during the second wave of the Covid-19 pandemic, which contributed to the growth of the global transitional care management services market.

Market Scope

Market Dynamics

The global transitional care management services market is projected to grow during the forecast period of 2024-2034 due to increased demand for post-discharge and post-surgery care services. The advancement in the healthcare infrastructure and rising awareness for quality healthcare have contributed to the market's growth. The increased awareness of telemedicine facilities during the Covid-19 pandemic has invited significant investors in the global transitional care management services market. 

The rising number of patients with chronic diseases that require ongoing observation by a healthcare professional has increased the demand for transitional care management (TCM) services. Transitional care management services are aimed at reducing post-operation or post-discharge complications. Along with this, the care system has reduced admissions in emergency rooms; these factors are seen as major drivers for the growth of the transitional care management services market. Furthermore, the rising investment by key players in the market owing to the increased demand for transitional care management services has surged the industry's growth.

Furthermore, the cost associated with transitional care management (TCM) services is not affordable for everyone, which is considered a restraining factor for the market's growth. However, the reduced cost of hospital stays is likely to tackle this restraint. Lack of awareness of telehealth or transitional care in underdeveloped countries with improper healthcare infrastructure is another restraint for the market. Along with this, the need for more skilled professionals to manage the transitional care management system has hampered the industry's growth.

Covid-19 Impacts

The unpredictable spread of Coronavirus led to a prolonged lockdown across the globe. The covid-19 pandemic had negative impacts on almost every industry. However, the Covid-19 pandemic has shown an increased demand for transitional care management (TCM) services. The increased consumer demand, especially from the senior population, to get proper healthcare during the lockdown fueled the growth of the transitional care management services market. Remote patient monitoring and non-face-to-face or virtual meetings with doctors to contain the virus's spread are a few factors that boosted the demand for transitional care management (TCM) services during the pandemic.

Moreover, transitional care management (TCM) services ensure immediate health care for high-risk patients, which helped in lowering the burden of hospital administration. This service has helped reduce mortality and readmissions, leading to rapid adaptation to transitional care management services. The transitional care system has helped hospitals maintain the capacity of beds for Corona-infected patients. Older adults and patients with chronic diseases (diabetes, cancer, or cardiac issues) were more vulnerable to the infection of Coronavirus. Transitional care management services have helped such patients by providing valuable care. Considering the facilities provided by transitional care management services, the increased demand by hospitals and patients propelled the industry's growth. 

Services Insights

Based on services, the transitional care management services market is segmented into patient TCM services, healthcare TCM services, billing TCM services, and documenting TCM services. The patient transitional care management services segment dominates the global market and generated more than 31% revenue share in 2022, owing to the increased demand from the geriatric population. The reduced cost of hospital visits and admissions has surged the need for primary care, which resulted in the growth of patients' TCM services segment. Considering the high demand for billing services by healthcare providers, the billing TCM services segment is projected to grow during the forecast period of 2024-2034. 

The billing TCM services segment reviews patients' payments and other health-related data that helps the administration keep a proper follow-up. Documenting TCM services segment is the fastest growing in the global transitional care management services market. The rising demand for improved coordination between patients and hospitals has surged the growth of documenting TCM services segment. 

End-Use Insights

Based on end-use, the transitional care management services market is segmented into inpatient and community settings. The community settings segment holds the most significant global transitional care management services market share of around 56.5% in 2022. Community settings primarily include post-discharge care, which improves the quality of healthcare service and reduces the overall cost of hospital stays. The community setting segment carries home assisted living for patients. 

The overall improvement in patient satisfaction and reduced life-threatening risks drive the growth of the community settings segment. On the other hand, the inpatient setting segment shows steady growth during the forecasted period. The inpatient setting segment includes long-term care at the hospital, continuous observation, or partial hospitalization. 

Transitional Care Management Services Market Scope

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

Recent Developments

• In November 2022, a leading out-of-hospital care provider, Health Care at Home (HCAH), announced the acquisition of an online store, Seniority, that provides healthcare services to older adults. Seniority by RPG Group is the largest e-commerce platform for catering healthcare services in India. The acquisition will help HCAH to expand its position in the senior healthcare market in India.
• In December 2022, Superior Health Plan, a Texas-based company, announced a home-health partnership with MedArrive. MedArrive is a leading healthcare provider that offers mobile-integrated care management services. This partnership will improve the quality of healthcare for patients with complex health conditions.
• In December 2022, a growing healthcare technology company, Reliq Health Technologies, Inc., announced a network of 35 Skilled Nursing Facilities (SNFs) in Florida. Owing to this addition, Reliq will provide transitional healthcare management (TCM) services to newly discharged patients. The company will begin onboarding patients with additional facilities in early 2023.
• In August 2022, a leading healthcare provider, Provider1st, announced its partnership with Pacific Private Practice Network (P3N). Pacific Private Practice Network is a California-based accountable care organization. The partnership aims to enhance the quality of healthcare with cost-saving methods.
• In May 2022, a leading healthcare company headquartered in the United States, PharMerica, announced the launch of the new transitional healthcare management program. This Continue Care transitional care management program aims to address the gaps in healthcare during patients' transition from skilled nursing facilities to the home.
• In September 2022, a Silicon-Valley based health cloud company, Innovaccer, announced that CHESS Health Solutions, a leading healthcare services company in the United States, is using Innovaccer Health Cloud to accelerate their transition to value-based care. CHESS Health Solutions has reduced all-cause readmissions by 23% from 30% after utilizing Innovaccer Health Cloud.
• In October 2021, a leading healthcare provider, Health Care at Home (HCAH), launched a third transition healthcare center in India. The transition healthcare center by HCAH aims to fill the gap between home to specialized healthcare units or hospitals to provide timely healthcare service to patients with high risks. 

Segments covered in the report

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

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa