Global Hospital Capacity Management Solutions Market: Snapshot
The drive for hospital capacity management solutions mainly stemmed from the potential need for better hospital capacity planning methods and strategies, world over. The unsuccessful management of hospital capacity assets invariably leads to a significant loss of revenue for hospitals. The lack of patient care coordination is another factor throwing away challenges for them. Hospital capacity management is crucial not only for reducing downstream bottlenecks in hospitals but also plays a vital role in the revenue management cycle and for a range of operational ends. The need for better scheduling and responsive methods for ensuring a smooth flow of patients from one department to another, notably in emergency and critical care units, is bolstering the demand for hospital capacity management solutions. This is also critical for enhancing satisfaction in patients.
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The rising demand for an assortment of analytical tools for hospital capacity management is a notable trend boosting the market. The launch of advanced analytics tools by developers of healthcare IT, particularly that allow dynamic scheduling and forecasting, is a promising trend expected to substantially expand the market potential in the coming years. The growing adoption of robust forecasting and reporting methods is also accentuating the market revenue. The rising number of analytic solutions that are tailor-made to meet the varied hospital capacity management needs is an important trend that augurs well for the global market. In recent years, a growing number of providers are focusing on hospital capacity management solutions with more comprehensive metrics, apart from bed occupancy, that can act as better indices for hospital capacity management. The rising need for better supply chain re-engineering methods in the workflow of hospitals is also expected to augur well for the market. The growing number of research for discovering better methodologies for capacity planning, especially in numerous developing and developed nations, will increasingly benefit market players across the globe.
Global Hospital Capacity Management Solutions Market: Overview
Hospital capacity management solutions enables executives, administrators, and clinical staff working in hospitals to more effectively manage capacity and tracking. When it comes to planning and tracking, it brings about improved resource planning and utilization which ups efficiency and productivity. It also brings about visibility and forecast through improved tracking and metrics. In addition it helps stem revenue loss by reducing costs through seamless operations and better visibility. On account of so many benefits, the market is expected to make steady progress in the near term.
Global Hospital Capacity Management Solutions Market: Drivers and Restraints
Majorly fuelling demand for hospital capacity management solutions is the surging demand for better healthcare facilities and emergence of more evolved versions due to continued technological advancements. Further, the demand is also being boosted by rising spends of healthcare IT companies, increasing demand for integrated healthcare solutions, and proliferating hospitals. This is because of the myriad benefits such solutions offer such as the efficiency in workflow and lessened hospital expenses.
On the flipside, however, strict rules pertaining to implementation of capacity management solutions is posing a challenge to the market. Further, such systems are costly to install and maintain. This is another factor hampering the demand. Dearth of well-trained and highly skilled professionals, particularly in developing nations of China and India is crimping market growth too.
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A noticeable trend in the global market for hospital capacity management solutions is the growing number of mergers and acquisitions which players are indulging in to tap into the synergies. Apart from that, soaring uptake of mobile health IT is another key trend observed in the market. The different types of solutions available in the market are bed management solutions, quality patient care solutions, asset management solutions, patient flow management solutions, and workflow management solutions.
Global Hospital Capacity Management Solutions Market: Regional Analysis
From a geographical standpoint, Europe and North America are key regions in the global market for hospital capacity management solutions. This is mainly on account of the alarming increase in chronic diseases and state-of-the-art healthcare in the region. In addition, emergence of more evolved versions of hospital capacity management solutions and rising knowledge about their potential is also serving to drive the market in the regions. Some of the nations at the forefront of driving growth in the market for hospital capacity management solutions in the region are the U.K., Canada, Italy, Germany, Spain, and France. Asia Pacific is another promising market because of the mushrooming healthcare centers in the region, particularly in the large and populous economies of India and China.
Global Hospital Capacity Management Solutions Market: Competitive Landscape
Some of the prominent players operating in the global market for hospital capacity management solutions that have been profiled in the report are TeleTracking Technologies Inc., Infosys Limited, GE Healthcare, NextGen Healthcare Information Systems LLC, McKesson Corporation, STERIS Corporation, Cerner Corporation, Central Logic, and Alcidion Corporation.
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