Covid-19 Impact on the Hospital Capacity Management Techniques Market:
The current COVID-19 pandemic has resulted in a massive number of patients visiting healthcare facilities on a daily basis. As of May 2021, over 156 million cases of COVID-19 have been reported across Africa, Asia Pacific, the Americas, Europe, and Oceania. The virus has resulted in approximately 3.2 million deaths. With the COVID-19 pandemic, most countries, including the whole of Europe, the US, India, and Australia, among others, reported a surge in the number of patients being admitted in hospitals leading to a shortage of beds, equipment, and hospital staff. This had increased the demand of hospital capacity management solutions for better management of staff, bed, and devices.
Hospital capacity management solutions Market Dynamics
Driver: Need to curtail healthcare costs
Governments and healthcare systems across the globe are focusing on controlling the rising healthcare costs by minimizing patient readmissions, medical errors, and administration costs with the effective utilization of capacity management software, such as workforce management and asset management. The successful adoption and implementation of these solutions are expected to save billions of dollars for healthcare systems worldwide. Delays and incorrect placement of patients in wrong beds can significantly increase healthcare costs. Thus, the adoption of hospital capacity management solutions helps reduce the overall healthcare costs.
Download PDF [email protected]
Restraint: IT infrastructural constraints in developing countries
Cost issues are one of the major barriers to the adoption of HCIT solutions. The cost of setting up capacity management solutions is high. Maintenance and software update costs for capacity management systems can be higher than the cost of the software. Support and maintenance services, including software upgrades (as per changing user requirements), represent a recurring expenditure. Moreover, the lack of internal IT expertise in the healthcare industry necessitates training for end-users to maximize the efficiency of provider network management systems. This, in turn, increases the cost of ownership of these systems.
Recent Developments in the global Hospital Capacity Management Solutions Market:
# In November 2020, HealthStream (US) had acquired Change Healthcare's Staff Scheduling Business helped the company enhance its position in the healthcare workforce scheduling market.
# In May 2020, STANLEY Healthcare (US) partnered with Cisco DNA Spaces (US) to integrate STANLEY Healthcare’s AeroScout RTLS platform with Cisco DNA Spaces to simplify the operations management of healthcare organizations.
# In April 2020, TeleTracking Technologies (US) launched COVID-19 Capacity and Census Dashboard that equips health systems with critical information like patient census, bed availability, patients in need of ventilation, and other aspects that are needed to prepare for and respond to the COVID-19 patient surge.
By end-user, the hospitals segment is expected to account for the largest share of the hospital capacity management solutions market
The government initiatives to enhance patient satisfaction and improve the quality of care, the growing patient volume, and the need to reduce the rising healthcare costs are the major factor driving the growth of hospitals segment.
Request Sample [email protected]
Asia-Pacific is the fastest-growing market for Hospital Capacity Management Techniques Market during the forecast period.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The high growth in this regional market can be attributed to the increasing government initiatives for eHealth, growing medical tourism, increasing need for management solutions due to the COVID-19 outbreak, and the increasing demand for quality healthcare
Key Market Players:
The major players in the global hospital capacity management solutions market are Cerner Corporation (US), McKesson Corporation (US), HealthStream (US), Stanley Healthcare (US), and Halma plc (US). Other prominent players in Hospital Capacity Management Techniques Market include Infosys (India), Teletracking Technologies, Inc. (US), NextGen Healthcare (US), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), Sonitor Technologies (US), Koninklijke Philips N.V. (Netherlands), Neusoft Corporation (China), Infinitt Healthcare Co., Ltd. (South Korea), JVS Group (India), Infor Systems (US), Care Logistics (US), WellSky (US), Simul8 Corporation (US), and Alcidion Corporation (Australia).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441