Global Patient Flow Management Solutions Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Patient Flow Management Solutions Market 2021 (Includes Business Impact of COVID-19)
Global Patient Flow Management Solutions Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global patient flow management solutions market report has been segmented on the basis of product, type, component, delivery mode, and region.
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The global Patient Flow Management Solutions market size was valued at USD$ 071 billion in 2020 and is projected to reach USD $ 4.68 billion by 2030, and is anticipated to expand at a CAGR of 20.66% over the forecast period from 2020 to 2030.


Global Patient Flow Management Solutions Market: Overview


Patient flow management includes management of patient flow in efficient and effective manner in order to meeting patients requirements. These software solutions play important role from managing the flow from registration process to tracking, and keeping record of treatment for patient. Patient flow management solution uses real-time data inputs coupled with required analytical and statistical software in order to design an effective workflow.


Global Patient Flow Management Solutions Market: Dynamics


Rising demand for patient flow management solutions in order to reduce overcrowding, hospitals efforts to reduce patient waiting for treatment, and efficient utilization of bed are major factors expected to drive growth of the global market over the forecast period. In addition, increasing demand for improving quality care of patient and rising need for cost reduction by reducing labor cost and human errors are some other factors expected to further fuel growth of the target market over the forecast period. Furthermore, increasing number of hospital admissions and lack of skilled healthcare professionals are some other factors expected to boost growth of the target market over the forecast period.

However, high initial investment cost, lack of skilled professionals, and security concern regarding patient data are major factors expected to restrain growth of the global market over the forecast period. In addition, inadequate infrastructure to adopt patient flow management solutions is another factor expected to hamper growth of the target market.

Ongoing trend observed in the target market is increasing collaboration, partnership activities among manufacturers, and innovative product launches in patient flow management solution, this trend is expected to support growth of the target market.

Increasing adoption of cloud-based models and increasing usage of portable devices such as smart phones in patient flow management solutions are some major factors expected to create lucrative opportunities for players operating in the target market over the forecast period.


Global Patient Flow Management Solutions Market: Segment Analysis


Among delivery mode, the cloud-based segment is expected to register significant growth in terms of revenue over the forecast period, owing to its factors such as cost-effectiveness and availability.


Global Patient Flow Management Solutions Market: Regional Analysis


The market in North America is expected to dominate in the global market and is expected to continue its dominance over the forecast period, owing to increasing awareness and adoption of technologically advanced tools in order to improve healthcare infrastructure to reduce patient waiting time and maximize bed utilization. In addition, increasing awareness of patient flow management solutions among various healthcare organizations, owing to conferences conducted regarding healthcare IT and its importance in hospital management is another factor expected to support growth of the target market in North America region.

The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing rising adoption of patient flow management solutions across developed countries such as New Zealand and Singapore.

Global Patient Flow Management Solutions Market Segmentation:

Segmentation by product:

  
Integrated
  
Standalone

Segmentation by product:

  
Event-Driven Patient Tracking
  
Real-Time Locating Systems

Segmentation by component:

  
Hardware
  
Software
  
Services

Segmentation by delivery mode:

  
Web-based
  
Cloud-based
  
On-premise


Key Market Players included in the report:


  
Cerner Corporation (U.S.)
  
Epic Systems Corporation.
  
Getinge Group
  
Guard RFID Solutions Inc.
  
Intelligent InSites Inc. (U.S.)
  
McKesson Corporation (U.S.)
  
Medworxx Solutions Inc. (Canada)
  
Sonitor Technologies Inc. (U.S.)
  
STANLEY Healthcare (U.S.)
  
TeleTracking Technologies Inc. (U.S.)


Below are the key development related to Patient Flow Management Solutions Market in 2020 and 2021.


April 2021: Holmusk Acquires Mental Health Analytics Provider Otsuka Health Solutions to Expand its Footprint in the UK. Holmusk, a leading global data science and digital health company building the worlds largest Real-World Evidence (RWE) platform for behavioral health, announced that it has acquired Otsuka Health Solutions (OHS), a UK-based mental health, predictive analytics provider. The acquisition from Otsuka Pharmaceutical Europe Ltd (Otsuka) deepens Holmusks footprint in the UK and paves the way for Holmusk to expand its partnerships with health systems working to transform behavioral healthcare. With the acquisition, Holmusk adds OHSs award-winning product, Management and Supervision Tool (MaST), to its suite of digital and analytic solutions to improve behavioral health outcomes. MaST, a powerful and easy-to-use digital platform for care teams, leverages predictive analytics to identify people at greater risk of using crisis services and those who may require different services to support their recovery. As a result, fewer people in crisis require inpatient admissions when compared with standard community management. With MaST already deployed across several NHS mental health trusts Holmusk will be able to advance into the UK market with momentum. Building on MaSTs success, Holmusk now has the opportunity to integrate its cutting-edge technologies to drive the next stage of the products journey. This strategic acquisition will enable Holmusk to leverage its scientific capabilities and dedicated suite of solutions to support MaSTs growth and advance the shift towards data-driven healthcare in the UK and beyond. Source

August 2020: Vitalhub Corp. Announces Acquisition of Intouch With Health Inc. VITALHUB CORP. (TSXV: VHI) (the “Company” or “VitalHub”), is pleased to announce that it has acquired all the issued and outstanding shares (the “Acquisition”) of Intouch with Health Inc. (“Intouch”), a UK leader for patient flow management solutions. Through its “Intouch Patient Journey Platform,” Intouch specializes in delivering patient-focused flow management solutions that allow patients to more effectively move throughout a hospital. Intouch has evolved their solutions to support “virtual healthcare” patient interaction placing less reliance on face-to-face interactions. Source

November 2020: AccuReg Acquires Digital Patient Engagement Technology Company. Acquisition Adds Zenigs Innovative Technology to AccuRegs Market-Leading Patient Access Solutions. AccuReg, a healthcare technology solutions company offering a full suite of front-end revenue cycle management solutions for health systems and hospitals, has acquired Orlando-based Zenig, an innovator in patient engagement technology solutions that enable touchless check-in, virtual waiting rooms, patient flow and bi-directional communication methods. This acquisition aligns with AccuRegs strategy to build on its market-leading patient access suite and seamlessly integrate digital patient engagement with the revenue cycle to help health systems protect and grow net revenue as patients assume tasks traditionally handled by hospital staff. Source