No slowdown for home health software and services market
According to a recent study published by MarketsandMarkets, a global market research and consulting firm, the global home healthcare software and services market is expected to reach $6.2 billion by 2018, a 13.4% increase over the $3.4 billion posted in 2013.
A press release detailing the study's findings states that this growth will be fueled largely by the growing pressure to reduce healthcare costs, an aging population, growing patient consumerism for quality care, shortage of nursing and staff, government support and healthcare reforms, and the hospital readmission reduction program under the Affordable Care Act.
However, the major bottlenecks for growth appear to be the growing concerns over security, interoperability, integration challenges, costs incurred while integrating, problems in implementing homecare solutions, incomplete or poor quality of data entry, and poor IT skills among homecare staff.
But continued growth in this field also is anticipated due to the cloud based delivery mode, telehealth solutions, and advances in mobile technology.
The study discusses each segment of this market, including products and clinical and non-clinical applications, but also notes that the market is further segmented into agency solutions, hospice solutions, telehealth solutions, and clinical management system (CMS) solutions. All in all, clinical management system and telehealth solutions will be the fastest-growing market in the next five years, the report says.
In addition, because of the need for enhanced security and accessibility, the cloud computing mode of delivery is expected to grow at a "briskpace" in the forecast period.
The entire report is available at https://www.marketsandmarkets.com/Market-Reports/home-health-software-market-818.html
Topics: Technology & IT