The Global Patient
Flow Management Solutions Market, by Product Type (Integrated and
Standalone), by Component (Hardware, Software, and Services), by Delivery Mode
(Web-based/Cloud-based and On-premise), by End User (Hospitals, Clinics, and
Others), and by Region (North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa) was valued at US$ 539.1 million in 2018, and is
projected to exhibit a CAGR of 18.8% during the forecast period (2018 – 2026).
Key players in the market are engaged in
improving their in-house patient flow management solutions by collaborating and
partnering with new key players in the market. For instance, in May 2018,
Change Healthcare (a joint venture of McKesson Corporation and Change
Healthcare Holdings, Inc.) announced plans to collaborate with Adobe and
Microsoft. Together, the companies will develop a cloud-based tool that can
aggregate and activate consumer data from disparate sources such as electronic
health records (EHRs), patient registration, scheduling, and billing, among others.
In July 2018, Change Healthcare received the US$ 5.5 million grant from The
Israel Innovation Authority (IIA), to expand its research and development
(R&D) facility in Israel. In September 2018, Hyland Healthcare and Change
Healthcare partnered to offer fully integrated medical claims attachment
technology. This allows providers and payers to transmit claims attachment
quickly and improves patient experience, optimize the revenue cycle, and reduce
inefficiency and wait time.
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Browse 25 Market Data Tables and
29 Figures spread through 183 Pages and in-depth TOC on ‘Patient Flow
Management Solutions Market, by Product Type (Integrated and Standalone), by
Component (Hardware, Software, and Services), by Delivery Mode
(Web-based/Cloud-based and On-premise), by End User (Hospitals, Clinics, and
Others), and by Region (North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa) - Global Forecast to 2026’
Furthermore, key players in the
market are focused on acquisition strategies to expand their geographical
presence. For instance, in October 2015, Aptean completed the acquisition of
Medworxx Solutions Inc. Through the acquisition, Medworxx’s knowledge
management, patient flow, and patient safety solutions portfolio for healthcare
organizations was added to Aptean’s product portfolio. In May 2018, Allscripts Healthcare Solutions
signed a definitive agreement to acquire HealthGrid Holding Company. HealthGrid
is a developer of mobile patient engagement platforms, which enable providers to
reach patients using existing contact information, without requiring them to
sign up for a patient portal. Furthermore, under the agreement, Allscripts will
integrate HealthGrid's functions into its FollowMyHealth patient engagement
platform. In June 2017, Aptean acquired FDM Software. This acquisition enables
Aptean to offer an integrated platform with hospital patient flow capabilities.
FDM Software operates its business in Records Management (RMS), Computer-Aided
Dispatch (CAD), mapping and analysis solutions for public safety agencies in North
America and Latin America.
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Key Takeaways of the Patient Flow
Management Solutions Market:
The global patient flow
management solutions market is expected to exhibit a CAGR of 8% during the
forecast period, owing to rising need to manage patient flow in healthcare
facilities and to decrease possibility of human error
Among product type, standalone
segment accounted for major market share in 2017. Standalone systems are
largely preferred, owing to data security concerns among patients and
professionals. However, comparatively high cost of maintenance is expected to
hinder growth of the standalone segment.
Among component, software segment
accounted for the largest share in 2017. Software is an integral and essential
part of patient flow management solution system. Patient flow management
solution software is used in managing, tracking, and reporting patient data,
and are designed for clinics and hospitals that have a huge inflow of
patients.
Among delivery mode,
web-based/cloud-based segment accounted for the largest share in 2017, as it
allows automatic software updates, easy accessibility to information, proper
document controlling, and low cost solution as compared to on-premise delivery
system.
Among end user, hospital segment
accounted for the largest share in 2017, owing to the increasing adoption of
patient flow systems to provide structured and consistent care, thereby
enabling staffs to provide the best possible care, particularly crucial for
patients with dementia or Alzheimer’s disease
Major players operating in the
global patient flow management solutions market include Getinge AB, Allscripts
Healthcare Solutions, Inc., Cerner Corporation, McKesson Corporation, Epic
Systems Corporation, Aptean, Inc., Sonitor Technologies, Inc., Stanley Black
& Decker, Inc., and TeleTracking Technologies, Inc.
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