Hospital capacity managementsolutions (HCMS) are designed to help improve patient throughput and quality ofcare by managing patient capacity, flow, and diversion rates.
Statistics:
The global HospitalCapacity Management Solutions Market is estimated to account for US$1,540.6 Mn in terms of value and XYZ Thousand Tons in terms of value by the endof 2027.
Global Hospital CapacityManagement Solutions Market: Drivers
Need for reduced hospital stay isexpected to fuel demand for HCMS, thereby propelling growth of the globalhospital capacity management solutions market over the forecast period. HCMSenable better and timely care for patients and consequently reduce the lengthof a patient’s hospital stay. These solutions also track patient clinical dataand assign the nearest nurse, doctor or caregiver to the patients for timelycare, so that the patients can be discharged earlier.
Global Hospital CapacityManagement Solutions Market: Opportunities
Increasing healthcare expenditureis expected to offer lucrative growth opportunities for market players. Forinstance, according to the Centers for Medicare & Medicaid Services (CMS),health spending in the U.S. is projected to grow at an average rate of 5.5percent per year for 2018-27 and to reach nearly US$ 6.0 trillion by 2027.
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Global Hospital Capacity ManagementSolutions Market: Restraints
However, high cost ofinstallation and equipment and dearth of skilled healthcare professionals indeveloping and under developed countries are some of the factors that areexpected to hinder growth of the global hospital capacity management solutionsmarket.
Key Takeaways:
The On Premise segment in theglobal hospital capacity management solutions market was valued at US$ 367.1 Mnin 2018 and is expected to reach US$ 584.2 Mn by 2027 at a CAGR of 5.2% duringthe forecast period. The growth of the segment is attributed to increasingtechnological advancements to improve patient throughput and quality of careduring the forecast period.
The Integrated Solutions segmentheld dominant position in the global hospital capacity management solutionsmarket in 2018, accounting for 64.5% share in terms of value, followed bystandalone solutions respectively. The growth of the segment is attributed toincreasing prevalence of chronic diseases during the forecast period.
Market Trends
Major medical associations arefocused on opting for HCMS providers as their endorsed partners. For instance,in July 2018, The Michigan Health & Hospital Association chose CareLogistics to be one of only a select few endorsed partners to enhance quality,patient satisfaction, operational efficiency and patient throughput of Michiganhospitals and health systems.
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The market is also witnessing useof indoor, ultrasound-based positioning technologies for real time locationservices. The technologies are a combination of ultrasound technology Wi-Fi,low frequency (RF) sensory technologies, and intelligent sensors.
Global Hospital CapacityManagement Solutions Market: Competitive Landscape
Major players operating in theglobal hospital capacity management solutions market include, AwarepointCorporation (CenTrak), Allscripts Healthcare Solutions, Inc., Care Logistics,LLC, McKesson Corporation, Central Logic, STANLEY Healthcare, SonitorTechnologies, Inc., TeleTracking Technologies, Inc., Cerner Corporation, andEpic Systems Corporation.
Global Hospital CapacityManagement Solutions Market: Key Developments
Key players in the market arefocused on adopting collaboration and partnership strategies to enhance theirmarket share. For instance, in July 2019, TeleTracking Technologies, Inc. collaboratedwith B. Braun Medical Inc.under which B. Braun Medical Inc. announced theintegration of their Space Infusion Pump Systems with TeleTrackingTechnologies, Inc.’s RTLS Asset Tracking solution.
In September 2019, Central Logicpartnered with Conduit Health Partners, a patient access company, to improvecare access and operational efficiency for health systems.
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