What is Patient Engagement Software?
Patient engagement refers to anything that enables healthcare institutions to establish communication with their patients using patient portal online software’s. Patient engagement is not just about engaging technology but it is also ensuring patient satisfaction. Patient engagement software is a fast-growing segment of the larger medical software marketplace. The software is an electronic system designed to communicate with patients, provide educational resources, or manage the patient-provider relationship. The best patient engagement software combines aspects of practice management software, medical billing software, marketing automation, and customer relationship management software (CRM) systems, healthcare IT systems.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Cerner Corp.(United States), IBM (United States), Epic Systems (United States), McKesson Corp. (United States), Athenahealth (United States), Allscripts (United States), Healthagen (United States), GetWellNetwork (United States), Me decision (United States), Lincor Solutions (Ireland), Orion Health (Newzealand) and Get Real (United States) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Web-Based, Cloud-Based and On-Premise) , by application (Health Management, Social and Behavioral Management, Home Health Management and Financial Health Management) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Patient Engagement Software market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Patient Engagement Software market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Cerner Corp.(United States), IBM (United States), Epic Systems (United States), McKesson Corp. (United States), Athenahealth (United States), Allscripts (United States), Healthagen (United States), GetWellNetwork (United States), Me decision (United States), Lincor Solutions (Ireland), Orion Health (Newzealand) and Get Real (United States).
Market Overview:
In August 2018, Best Hospitals like Northwestern Memorial Hospital in the United States chose UbiCare Smart XP technology for patient engagement to activate patients low care costs and improve patient outcomes. and In August 2018, Vision tree was awarded as ‘2018 Company of the year’-Patient Engagement. The company has launched the VisionTree Optimal Care (VTOC), cloud-based platform software which is evolved to a robust, modular and interoperable enterprise solution delivering outcomes-driven patient engagement.
The market is fragmented by having intense competition among key players. The players in the industry hold Key technologies and patents with high-end customers. The numbers of manufacturers are expected to increase in the forecast period by forming the global market channel in the industry.
Influencing Trend:
Increasing investments in the healthcare IT sector coupled with the rising demand for mobile healthcare software for patient care.
Market Growth Drivers:
Demand for improved quality patient care, Growing number of aging population, Affordable Care Act (ACA) by United States and Good incentives by various Government policies leading to adoption of HCIT (Health care Information Technology) and patient engagement solutions.
Challenges:
Lack of investments in health care and awareness among physicians about patient engagement software, how the software fits into their practice.
Restraints:
Absence of health literacy and lack of skilled IT professionals across the healthcare industry may contribute to factors that may restraint the market.
Opportunities:
Digital software technologies such as telehealth, e-health and m-health, EMR and social media is providing an opportunity to the manufactures of this market.
Key highlights of the Global Patient Engagement Software market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Patient Engagement Software market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Patient Engagement Software market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Patient Engagement Software Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Patient Engagement Software market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Patient Engagement Software market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Patient Engagement Software Manufacturers, Healthcare IT manufacturers, Platform providers, Physicians, Government and Regulatory Bodies and Pharmaceutical and Biotechnology Companies.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.