Patient Flow Management Solutions Market to Surpass US$ 2.1 Billion Threshold by 2026 - Coherent Market Insights

Published On : Dec 14, 2018

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), 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 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.

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’

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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.

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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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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