Patient Flow Management Solutions Market to Surpass US$ 4,260.6 Mn by 2030 - Coherent Market Insights

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) is estimated to be valued at US$ 1,071.2 Million in 2022 and is expected to exhibit a CAGR of 18.8% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

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, Adobe Inc., originally called Adobe Systems Incorporated, is an American multinational computer software company and Microsoft, Microsoft Corporation is an American multinational technology corporation. Through this collaboration, 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 US$ 5.5 million grant from The Israel Innovation Authority (IIA), to expand its research and development (R&D) regarding patient flow management facility in Israel. In September 2018, Hyland Healthcare,  a healthcare organization 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.

Global Patient Flow Management Solutions Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on the global patient flow management solutions market, owing to high risk of contamination by patients and by visitors increased during covid-19. For instance, in May 2021, according to data published by National Center for Biotechnology Information, the coronavirus disease (COVID-19) is an emerging infectious disease with strong infectious power and fatality rate. To protect the public health, government agencies have regulations on hospital consulting and visiting. The study  regarding patient flow management chaperoning monitor system aimed to create a hospital visiting and chaperoning monitor system that uses nation-wide data sources to more accurately screen hospital visitors and chaperones, assist contract tracing, and prevent transmission of severe acute respiratory syndrome coronavirus 2. This project regarding chaperoning monitor system was implemented in 57 ward units of an academic medical center in the U.S. The chaperoning monitor system was connected to the National Health Insurance (NHI) system and Hospital Information System (HIS), and built on the data of everyone who accessed either the hospital or ward using an NHI smart card or national identification card.

Global Patient Flow Management Solutions Market: Key Developments

In March 2022, Koninklijke Philips N.V., a global leader in health technology, announced the expansion of its medical device cybersecurity services portfolio at HIMSS22, the Annual Conference and Exhibition of the Healthcare Information and Management Systems Society. The Philips Cyber security Services portfolio comprises an end-to-end suite of technologies and services to safeguard customer’s medical systems, devices, and related software regardless of vendor, helping empower the digital transformation in healthcare. Moreover, Philips also contributes to the development of national and international cyber security standards for medical devices, and its cyber security services portfolio aligns with global cyber security best practices and standards.

Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Patient Flow Management Solutions Market”-  Forecast to 2030, 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)

To know the latest trends and insights prevalent in the patient flow management solutions market, click the link below:

https://www.coherentmarketinsights.com/market-insight/patient-flow-management-solutions-market-730

Moreover, increasing adoption of inorganic growth strategies such as partnership is expected to drive the market growth over the forecast period. For instance, in September 2021, Walmart Health, an organization making healthcare more affordable and accessible announced partnership with Epic, an electronic health and record center. Walmart had opened health centers designed to deliver primary and urgent care, labs, X-ray and diagnostics, counseling, dental, optical and hearing services. Walmart will stay engaged with patients, healthcare professionals, insurance carriers and other stakeholders through Epic's EHR (electronic health and record).   

Key Takeaways of the Global Patient Flow Management Solutions Market:

• The global patient flow management solutions market is expected to exhibit a CAGR of 18.8% during the forecast period due to the increasing adoption of inorganic growth strategies such as acquisition by the key players in the market for developing patient flow management system. For instance, in June 2021, MRO Corp. (MRO), a leading clinical data workflow platform, announced acquisition with Rockford, IL-based FIGmd, a leading provider of clinical, claims and quality data acquisition platforms and data interoperability solutions. This acquisition will expands MRO’s ability to efficiently acquire, manage, ingest and exchange clinical information across multiple sources .MRO’s manages the complex process of ingesting, curating, and releasing clinical data and medical chart information on behalf of providers and third-party requesters.
• Among product type, standalone segment accounted for major market share in 2022. 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 end user, hospital segment accounted for the largest share in 2022, 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.