14 Sep 2021
"Global Patient Engagement Solutions Market is valued at USD 14.1 Billion in 2020 and expected to reach USD 42.2 Billion by 2027 with a CAGR of 16.9% over the forecast period"
Scope of The Report:
Awareness initiatives and favorable government legislations are expected to power the market. For example, the Readmission Reduction Program started by the CMS (Centers for Medicare and Medicaid Services) motivates the suppliers to be involved actively in patient engagement solutions with the aim of having the readmission rates while offering enhanced inpatient services.
Patient engagement services and solutions allow healthcare service suppliers to better engage with and reach to patients. Patient engagement system lets healthcare service suppliers to increase new patients’ visits and develop loyalty with easy automatic options, automated reminders, and many more other options. These solutions outreach patients through phone, text, and email to remind them of their balances and appointments as well as to bring their referral documents. Moreover, these solutions are also employed to wish people on their birthdays. This method not only elevates satisfaction of the current patients but also attracts to potential patients.
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The global patient engagement solutions market is divided into component, deployment mode, and end-users. Based on deployment model, the global patient engagement solutions market is divided into cloud, on-premise, and web-based. Based on component, the global market for patient engagement solutions is divided into software, hardware, and services. Based on end-users, the global market for patient engagement solutions is divided into healthcare payers, hospitals & providers, and pharmaceutical companies.
Patient Engagement Solutions Top Companies
The major players in the global patient engagement solutions market are,
Allscripts Healthcare Solutions, Inc.
Orion Health Ltd.
Lincor Solutions Ltd.
Key Market Segments:
by Component: Hardware, Software, Services,
by Delivery Mode: On-premise, Cloud-based
by End User: Providers, Payers, Individual Users, Other
by Application: Health Management, Social and Behavioral Management, Home Health Management, Financial Health Management
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Increasing Spending By Healthcare It Firms To Power Growth In The Market
Patient engagement solution provides clinics or hospital with enhanced user retention competence simultaneously it assists them to cure patients in the most effectual manner possible. Moreover increasing spending by healthcare IT firms, increasing requirement for enhanced healthcare services, and rising government projects are the major reasons powering the development of patient engagement solutions. As the patient engagement tech operates on a conjoint platform, healthcare companies are heading towards automated procedures, which offer an enhanced agility, response, and cost efficiency. Technological enactments and access in the healthcare sector to big data are powering the growth of the patient engagement solutions market. On the other hand, lack of interoperability is expected to hinder the development of the global market. In addition to this, an elevation in retail insurance system is additionally expected to make several developmental avenues for the major players in the global market. However, to fulfill the user expectations a number of healthcare agencies are rearranging themselves in terms of quality, service, and cost.
Acceptance of home care and jump to value-based from volume-based care is also predicted to add to the global market growth. For example, as per a survey performed by Deloitte for US users, almost 62% users were comfortable with healthcare providers in online consultation. The trend is same in other developed nations which show the elevations in acceptance of virtual and home care.
North America Rules The Global Patient Engagement Solutions Market
Among the regions, North America rules the global patient engagement solutions market. The development in the North America is owing to the rising IT industry together with the rising requirement for mobile healthcare options. In addition to this, NHS (National Health Services) is a publically supported system in the UK which is powering the European patient engagement solutions market. The Asia Pacific is expected to experience the quickest development due to the rising disposable income and rising population. India and China are expected to be the quickest developing regions in Asia Pacific.
Market by Regional Analysis
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
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