Patient flow management solutions are used to track the movement of patients, information, or flow of equipment between organizations. These solutions use real-time data inputs combined with analytical and statistical software to design an efficient work flow. Patient flow management solutions enable hospitals and clinics and other departments to manage patient reception, routing, and queuing. It provides interaction management tools along with appointment scheduling options. The adoption of patient flow management solutions in hospitals, clinics, and other health care facilities offers a range of advantages, including increased interaction between clinical staff and patients focus on patient-centered care, enhanced care quality, reduction in waiting time and patients’ length of stay, enhanced patient satisfaction, and decrease in paper processing.
The primary factors driving the growth of the market include high return of investment achieved by the adoption of these solutions, high demand for enhanced quality of care, and growth in focus on patient satisfaction. In addition, the shortage of doctors and nursing staff, growing awareness about health care, and the need of hospitals to reduce costs contribute to the market growth. Further, factors such as growing demand for cloud-based models, increasing penetration, and growing usage of smartphones, along with increasing product launches and collaboration and partnerships among market players propel the growth of the market. However, the growing rate of hacking leading to security breaches, high initial investments, lack of skilled professionals, and inadequate infrastructure to adopt patient flow management solutions might restraint the market growth during the forecast period.
The global market for patient flow management solutions can be segmented on the basis of product, component, type, delivery mode, end-user, and region. On the basis of product, the market can be segmented into real-time locating system and event driven solution. In terms of component, the market can be segmented into hardware, software, and services. On the basis of type, the market is divided into integrated solutions and standalone solutions. The integrated solutions segment is projected to drive the market growth. On the basis of delivery mode, the market is segmented into on-premises, cloud, and web based. The cloud-based segment is anticipated to record a significant growth rate during the forecast period owing to the growing adoption of these solutions. By end-user, the market is categorized into hospitals, clinics, and others.
Geographically, the global market can be segmented into five regions, including North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America was the leading market for patient flow management solutions and is anticipated to continue to be the highest revenue contributor during the forecast period. This high revenue share of the region can be attributed to the growing adoption of health care IT, well-established infrastructure, government funding for the adoption of patient flow management solutions, and technological innovations. Europe is likely to be the second leading market in terms of revenue contribution. Asia Pacific is anticipated to record a significant CAGR during the forecast period with China and India being the fastest growing countries, owing to the increasing awareness among people, huge patient pool, growing health care spending, government focus on enhancing health care facilities, and focus on improving the efficiency of hospitals.
The leading players operating in the market include Medworxx Solutions, Inc., Cerner Corporation, Mckesson Corporation, Stanley Healthcare, Teletracking Technologies, Inc., Awarepoint Corporation, Getinge Group, Sonitor Technologies, Inc., Central Logic, Inc., Allscripts Healthcare Solutions, Inc., Guard RFID Solutions Inc., Care Logistics LLC, Intelligent Insites, Inc., and Epic Systems Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.