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Referral Management Market is expected to generate a revenue of USD 13.48 Billion by 2031, Globally, at 15.8% CAGR: Verified Market Research®

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The Referral Management Market is driven by the increasing demand for coordinated patient care, the rising adoption of digital healthcare solutions, and government initiatives promoting healthcare IT. Additionally, the growing need to reduce healthcare costs further fuels market growth. However, challenges such as data security concerns, high implementation costs, and the complexity of integrating referral management systems with existing healthcare infrastructure act as significant restraints.

LEWES, Del., Sept. 2, 2024 /PRNewswire/ — The Global Referral Management Market Size is projected to grow at a CAGR of 15.8% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 4.17 Billion in 2023 and is expected to reach USD 13.48 Billion by the end of the forecast period.

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Browse in-depth TOC on “Global Referral Management Market Size

202 – Pages
126 – Tables
37 – Figures

Report Scope

REPORT ATTRIBUTES

DETAILS

STUDY PERIOD

2020-2031

BASE YEAR

2023

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Ambition, BetterUp, Boxever, Brand24, Extole, Fivestars, Greateasy, Influitive, Joolea, Kickback, Mention, NPSoftware, Outfunnel, ReferralCandy, RewardSheep, Socialbakers, Smarter Referrals, and Talkable

SEGMENTS COVERED

By Component, By Type, By Delivery Mode, By End-user, and By Geography

CUSTOMIZATION SCOPE

Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Global Referral Management Market Overview

Growing Demand for Coordinated Patient Care: The Referral Management Market is primarily driven by the increasing need for integrated patient care. Healthcare providers are increasingly striving for smooth communication between different departments, which results in improved patient outcomes and operational efficiency. The adoption of referral management systems is directly driven by this demand, leading to market growth as institutions emphasize efficient operations and reduced inefficiencies.

Adoption of Digital Healthcare Solutions: The Referral Management Market is being significantly influenced by the swift transition towards digital healthcare solutions. Integrating referral management systems is crucial for healthcare providers to ensure continuity of care as they adopt electronic health records (EHRs) and telehealth services. The rapid adoption of advanced technologies by businesses is driving market expansion, as they seek to enhance patient experiences and maximize resource allocation.

Government Initiatives and Regulatory Support: Government initiatives and regulatory assistance play a vital role in driving the Referral Management Market. The implementation of policies that encourage the adoption of healthcare IT and the promotion of accountable care organizations (ACOs) contribute to the creation of a favorable setting for referral management systems. These regulatory frameworks promote the growth of the market by incentivizing healthcare providers to implement systems that guarantee compliance and enhance care coordination.

Data Security and Privacy Concerns: A significant limitation in the Referral Management Market is the apprehension over data security and privacy. The growing digitization of patient information poses a substantial issue in terms of the danger of data breaches and unauthorized access. These issues can impede market expansion as healthcare providers may be reluctant to employ referral management systems that do not provide complete assurance of data confidentiality and compliance with rigorous laws.

High Implementation and Maintenance Costs: The exorbitant expenses linked to the establishment and upkeep of referral management systems provide a substantial obstacle to market expansion. For numerous healthcare providers, especially smaller clinics, the initial capital expenditure and continuous costs can be restrictive. The financial load hampers the rate at which adoption occurs, especially in areas with constrained healthcare resources, hence impeding market growth.

Complexity of System Integration: The integration of referral management systems with current healthcare infrastructure is a significant obstacle in the industry. Healthcare providers often have difficulties in smoothly integrating these technologies with their existing EHRs and other digital tools, which can result in possible disruptions in operations. The complexity of this integration can discourage the adoption of new technologies, especially in facilities that still use outdated systems, which in turn restricts the expansion of the market.

Geographical Dominance:

Geographically speaking, North America dominates the referral management market due to its sophisticated healthcare infrastructure, high rate of digital health technology use, and robust regulatory environment. The region’s dominance has a substantial impact on market growth since it promotes innovation and establishes industry standards. Advancements are further accelerated by the well-established presence of leading market players in North America, which influences worldwide adoption trends and fuels total market expansion.

Key Players

The “Global Referral Management Market” study report will provide a valuable insight with an emphasis on the global market.  The major players in the market are Ambition, BetterUp, Boxever, Brand24, Extole, Fivestars, Greateasy, Influitive, Joolea, Kickback, Mention, NPSoftware, Outfunnel, ReferralCandy, RewardSheep, Socialbakers, Smarter Referrals, and Talkable.

Global Referral Management Market Segment Analysis

Based on the research, Verified Market Research has segmented the global Referral Management Market into Component, Type, Delivery Mode, End-user, and Geography.

Referral Management Market, by ComponentSoftwareServicesReferral Management Market, by TypeInbound ReferralsOutbound ReferralsReferral Management Market, by Delivery ModeWeb-basedCloud-basedOn-premiseReferral Management Market, by End-UserProvidersPatientsPayersOthersReferral Management Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin America

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IBC 2024: How TVU Changed the Broadcasting Industry in 2024

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CUPERTINO, California, Sept. 11, 2024 /PRNewswire/ — “We are not just providing tools; we’re partnering with broadcasters to transform their live production possibilities,” said Paul Shen, CEO of TVU Networks. “Our vision is to empower our partners with the agility they need to adapt to the ever-changing demands of their audiences. Together, we’re shaping the future of live broadcasting that produces real results today.”

At IBC 2024, TVU Networks, a global leader in IP-based live video solutions, will showcase its latest innovations that are transforming the broadcasting industry. CEO Paul Shen highlights TVU’s collaborative approach with broadcasters to expand live production capabilities and meet evolving audience demands.

TVU’s microservices-based engineering philosophy enables broadcasters to create dynamic workflows that seamlessly integrate with existing infrastructures. This approach has facilitated groundbreaking achievements, such as the BBC’s management of 369 simultaneous live feeds during the UK Election.

In 2024, TVU introduced a versatile disaster recovery solution, providing critical backup for major live productions. The company also enhanced remote collaboration through its universal communication solution, integrating field packs with the cloud-based TVU Partyline.

TVU’s award-winning MediaHub allows broadcasters to ingest unlimited sources into the TVU ecosystem, while flexible Agent deployment optimizes resource management. Since 2019, TVU has been incorporating AI into media workflows, streamlining tasks and expanding coverage capabilities with key solutions like TVU Search.

A standout innovation is TVU’s Network Operations Center (NOC), offering unparalleled visibility into cloud, on-premise, and hybrid media supply chains. The NOC provides a comprehensive view of the entire media ecosystem, enabling real-time monitoring and management, quick issue resolution, and optimized resource allocation across various environments.

The NOC’s intuitive interface allows operators to navigate complex media workflows easily, providing detailed insights into each component’s status and performance. This visibility empowers broadcasters to make data-driven decisions, improve operational efficiency, and ensure seamless content delivery.

By leveraging cutting-edge technologies such as cloud computing, AI, and 5G, TVU Networks is revolutionizing the broadcasting industry with adaptive solutions for the ever-changing media landscape. IBC 2024 attendees will experience firsthand how TVU’s end-to-end ecosystem of cloud-based solutions is shaping the future of the media supply chain.

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UPES Announces Launch of Executive Education Program on ESG, Sustainability and Impact

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NEW DELHI, Sept. 11, 2024 /PRNewswire/ — UPES, in collaboration with Mahindra University and Aspire Impact, announced the launch of the ESG, Sustainability, and Impact Specialist Program (ISP), an Executive Education initiative designed to cultivate the next generation of Chief Impact Officers. This innovative program aims to equip professionals with the skills necessary to lead their organisations in achieving Net Zero transitions, Carbon Neutrality, and Circularity, while optimising the balance between Risk, Return, and Impact.

The Impact Specialist Program (ISP) has been meticulously crafted to provide a comprehensive learning experience through 20 thematic sessions, more than 50 caselets, and 4 detailed global and Indian case studies. The curriculum is designed to impart practical skills that will enable participants to design, build, scale and manage impact across various sectors, including Corporations, Banks, Financial Institutions, and Non-Profits. It seeks to develop a cadre of professionals equipped to handle the growing demand for sustainability and impact leadership across industries.

The ISP is structured as a 4-day, 32-hour in-person program spread over two parts. Part A will be held at UPES in Dehradun from September 19 to 21, 2024, and Part B will take place at Mahindra University in Hyderabad from November 28 to 30, 2024. The ISP will be delivered at the RISE Centre (Research on Impact, Sustainability, and ESG), a joint initiative between UPES and Aspire Impact, that is set to be inaugurated on September 21, 2024. The Centre is dedicated to advancing research and education in sustainability and ESG impact.

The ISP is designed for senior and mid-level professionals aged 35-60 years, who are passionate about social and environmental impact, including corporate executives in ESG, sustainability, risk, and impact roles; professionals in banking, finance, and investment focused on impact investing; CSR and policy development experts; foundation and aid agency executives; and those looking to enter the impact sector.

The program will feature an esteemed panel of experts, such as Dr. Anirban Ghosh, Head of the Centre for Sustainability at Mahindra University and former Chief Sustainability Officer at Mahindra Group, and Amit Bhatia, Founder & CEO of Aspire Impact and former CEO of several leading organisations. Notable speakers will include Corey Glickman, Founder of Greenman Black; Anju Singh, Professor at IIM Mumbai; Prarthana Borah, Vice President of Sustainability at Momentum India; and Kieron Boyle, CEO of the UK’s Impact Investing Institute.

Dr. Ram Sharma, Vice Chancellor of UPES, expressed his enthusiasm, stating, “At UPES, we are committed to being a hub for innovation and research, and the launch of the RISE Centre marks a significant step in this direction. The RISE Centre will drive impactful solutions for sustainability and ESG challenges, leading our efforts on climate change and sustainable development. We are excited to partner with Aspire Circle for the RISE Centre and Mahindra University for the Impact Specialist Programme (ISP), as we share a common vision of creating a future where economic growth is aligned with environmental responsibility. Together we aim to equip professionals with the skills to drive meaningful change in their organisations and communities.”

Amit Bhatia, Founder & CEO, Aspire Impact, said, “We took 4+ years to put together this program, to prepare leaders for the imminent Impact Economy and future Chief Impact Officers. We believe that the Chief Impact Officers need their rightful place in the C-Suite, own the ESG, Sustainability & Impact agendas, own the NetZero transition, Carbon Neutrality targets and Circularity mission; and lead Risk-Return-Impact optimization for the company.” 

Dr. Anirban Ghosh, Professor and Head Centre for Sustainability, Mahindra University said, “India is at a critical juncture where the need for ESG, sustainability, and impact leadership is more pressing than ever. As we navigate the complex challenges of climate change, social equity, and responsible governance, it is essential to cultivate a cadre of leaders and specialists who can drive meaningful change. This program is designed to equip professionals with the skills and insights needed to lead in these areas, ensuring that India is not only a participant but a leader in the global sustainability movement. Mahindra University is proud to partner in offering this course.”

The ISP enables participants to redesign business systems for positive impact, manage impact throughout the value chain, and scale initiatives. They will also learn to lead impact assessment, reporting, and governance, becoming leaders in impact science. Enrolment for the inaugural cohort is now open. Senior and mid-level professionals interested may register now.

About UPES:
Established through the UPES Act, 2003, of the State Legislature of Uttarakhand, UPES is a top-ranked, UGC-recognised, private university. As per the National Institutional Ranking Framework (NIRF) 2024, the Ministry of Education, Government of India, UPES has been ranked 46 among universities, with a rank of 28 in Law, a rank of 41 in Management and a rank of 42 in Engineering. In addition to this, the university has been ranked the No. 1 private university in academic reputation in India by the QS World University Rankings 2024. It is among the top 3% of universities in the world. UPES has also been accredited by NAAC with a grade ‘A’ and has received 5 stars on Employability (placements), by globally acclaimed QS Rating. The university has had 100% placements over the last five years. Forty-two (42) faculty members of UPES are among the world’s top 2% researchers as per Stanford University list.

UPES offers graduate and postgraduate programs through its seven schools: School of Advanced Engineering, School of Computer Science, School of Design, School of Law, School of Business, School of Health Sciences & Technology and School of Liberal Studies and Media with 14000+ students and 1500+ faculty and staff members.

About Aspire Impact:
Aspire Impact is Global South’s first standards-based Impact Measurement, Rating & Certification initiative. It’s 4P (Product, People, Planet & Policy) Impact Assessment Framework to assess Corporations, BFSI, and CSR/Non-Profits uses 40 market-validated Impact Standards and 150+ Key Performance Indicators, to award Green, Silver, Gold and Platinum Leaf ratings, enabling sector-agnostic Impact Comparables. Since April 2020, Aspire Impact has served over 30 clients, over 50 projects, clocking over 100,000 client hours. Aspire Impact’s SaaS platform, IKOOWorld, for DIY or assured ESG, Sustainability & Impact Assessments, will be beta-released in Q2, 2024, with comparable benchmarking data for over 1000 organisations.

About Mahindra University:
Mahindra University is a multidisciplinary institution in India committed to nurturing future leaders. Its curriculum combines academic rigour with industry relevance, focusing on engineering, business, and law. With a strong emphasis on experiential learning, it offers industry internships, global immersion programs, and research opportunities, fostering holistic development and innovation.

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Assembly Strengthens India Scale with In-Market Client Growth Team

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The Stagwell (STGW) agency unveils its new Bangalore office, with Lenovo, Fossil and Estée Lauder serving as its founding clients.  

BANGALORE, India, Sept. 11, 2024 /PRNewswire/ — Global omnichannel media agency, Assembly, opens its first India-based front office as part of the agency’s expansion strategy in South Asia. Spearheading the operations is Anish Daniel, formerly the General Manager at Wavemaker India, bringing over 20 years of industry experience driving digital transformation for brands across the region. The newly established team oversees the agency’s domestic operations in India, leading the client engagements with Lenovo, Fossil and Estée Lauder and formulating in-market growth strategies.

Assembly’s amplified investment into the Indian market underscores the agency’s firm commitment to unlocking growth opportunities for clients in this pivotal region. India’s vast scale, burgeoning youth population, and strong consumer aspirations make it an essential market for businesses operating regionally and globally. Recognizing its potential, Assembly’s strategic expansion in the country highlights its ambition to drive transformative growth for clients by tapping into the market’s expanding economic influence.

Richard Brosgill, APAC CEO, Assembly comments, “India has emerged as a key growth engine for the agency, and our early success in the region underscores our capability to lead clients through change and growth in the market. By establishing a dedicated on-ground team, we have firmly positioned ourselves to help brands win in this dynamic market.”

Brosgill continues, “The new office complements the already fantastic teams we have in our Global Delivery Hub and creates an extension to support our growing talent with new experiences while we also support the ambitions of our clients today.”

“Anish’s extensive strategic experience, deep in-market knowledge and innovative mindset give us huge confidence in our journey of growth in the market. His true client centric approach allows him to provide effective and high-impact solutions for clients whilst helping them navigate through the change and growth of their business,” added Brosgill.

Expressing his excitement about his new role, Daniel comments, “Assembly’s ethos is rooted in the promise of finding the change that fuels growth for our clients and partners, and I’m excited to be working alongside an incredible team to bring this vision to life. Our focus this year would be to drive growth, strengthen our relationships with clients, and deliver exceptional value to the ecosystem.”

ABOUT ASSEMBLY 
Assembly is a leading global omnichannel media agency that merges data, talent, and technology to catalyze growth for the world’s most esteemed brands. Our holistic approach weaves together compelling brand narratives with a comprehensive suite of global media capabilities, driving performance and fostering significant business expansion. Our initiatives are powered by STAGE, our proprietary operating system, and executed by a dedicated global team of over 2,300 professionals across 35 offices worldwide. Committed to purposeful action, Assembly leads the way in social and environmental impact within the agency realm. As a proud member of Stagwell (NASDAQ: STGW), the challenger network designed to revolutionize marketing, Assembly continues to set new standards of excellence. For more information, please visit assemblyglobal.com.  

MEDIA CONTACT
Kelvin Lee,
Marketing Director, APAC
kelvin.lee@assemblyglobal.com

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