Westford, USA,, March 02, 2023 (GLOBE NEWSWIRE) -- The US patient engagement solutions market is expected to experience a significant surge in the coming years, owing to various factors such as the increasing use of digital health technologies, the growing consumerism in healthcare, and the impact of the COVID-19 pandemic. Furthermore, the US government's initiatives towards healthcare, including funding for health information exchange systems and improved reimbursement policies, have also played a significant role in driving the market's growth. Additionally, the presence of key companies in the market has further boosted the industry's growth.
Chronic illnesses have become the major cause of disability and death and are responsible for driving up healthcare costs in the United States. According to SkyQuest, the country's 12-monthly healthcare costs have reached an astounding USD 3.75 trillion, with chronic ailments being the primary contributor. In addition, the COVID-19 outbreak has further intensified the need for digital solutions and remote care in the healthcare industry. With the increasing prevalence of chronic illnesses and the need for remote care, patient engagement solutions are expected to be vital in improving patient outcomes and reducing healthcare costs.
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- Pages - 278
- Tables - 90
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Patient engagement solutions are a critical component of modern healthcare management that help facilitate the interaction between patients and healthcare professionals. These solutions enable the effective management of healthcare information, providing access to medical professionals to interact with patients and ensure their care is optimized. This not only improves the efficiency of healthcare delivery but also helps reduce healthcare costs by ensuring patients receive appropriate and timely care.
Prominent Players in US Patient Engagement Solutions Market
- IBM (US)
- Allscripts (US)
- McKesson Corporation (US)
- Epic Systems Corporation (US)
- Cerner Corporation (US)
- athenahealth (US)
- GetWellNetwork (US)
- IQVIA (US)
- MEDITECH (US)
- Cognizant (US)
- Get Real Health (US)
- Harris Healthcare (US)
- Symphony Care (US)
- CureMD Healthcare (US)
- Kareo (US)
- Lincor Solutions (US)
- eClinicalWorks (US)
- WellStack (US)
- AdvancedMD (US)
- Medhost (US)
- Vivify Health (US)
- MEDISYSINC (US)
- Validic (US)
- Patient point LLC (US)
Web-Based Solutions Segment to Attain Higher Growth as It Enables Patients to Access Healthcare Services and Resources Anytime and Anywhere
In 2021, the web-based solutions category dominated the US patient engagement solutions market, accounting for over 75% of the revenue. It indicates the growing trend of healthcare providers adopting digital solutions to engage with patients and improve the quality of care. In addition, the segment is projected to experience the fastest growth rate, driven by government initiatives and rising investments from leading industry players.
The North American patient engagement solutions market has grown steadily in recent years, partly thanks to the region's high-quality healthcare services and innovative incentive-based payment systems. According to research conducted by SkyQuest, the United States accounts for a significant portion of this market, with approximately 8.35% of the population being uninsured. Despite this, individuals, health insurers, and federal and state governments spent an estimated USD 3.87 trillion on health consumption expenditures in 2020, representing 17.42% of the country's gross domestic product.
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Software Segment to Drive Significant Revenue Share Thanks to Increasing Adoption of Electronic Health Records (EHRs) by Healthcare Provider
Patient engagement solutions have become an integral part of the healthcare industry, with software being a major component. In 2021, the software category held a significant revenue share of 49%, indicating the importance of software in the US patient engagement solutions market. In addition, the increasing use of mHealth apps and remote monitoring tools is expected to boost the segment's expansion further, highlighting the growing demand for digital healthcare solutions. As the healthcare industry embraces digital solutions, we can expect to see even more innovative patient engagement software and hardware in the future.
Canada's US patient engagement solutions market is projected to exhibit significant growth between 2022 and 2028, with a high CAGR. The increasing adoption of digital technologies within the industry can drive growth. The use of digital technologies, such as electronic health records, telemedicine, and wearable health devices, can improve patient outcomes, enhance the efficiency of healthcare delivery, and reduce healthcare costs. Furthermore, the Canadian government has implemented supportive measures to digitize healthcare services.
SkyQuest has recently released a detailed report on the US patient engagement solutions market, which serves as a comprehensive guide for all stakeholders involved. These stakeholders, including market participants, investors, and policymakers, need a comprehensive market understanding to make informed decisions. The report offers an exhaustive analysis of the strategies outlined, enabling stakeholders to gain valuable insights into the market's direction and assess its opportunities and risks.
Key Developments in US Patient Engagement Solutions Market
Netsmart and Jefferson Center have recently joined forces in a collaborative effort to improve remote patient monitoring and engagement for behavioral health services. This strategic partnership aims to enhance the quality of mental health care and substance use services for the community, focusing on achieving positive outcomes for children, adults, and families. The collaboration between these two organizations will combine their respective strengths and expertise to develop an integrated remote patient monitoring and engagement system for behavioral health services.
Henry Schein, Inc., a global provider of healthcare products and services, has revealed its plans to showcase its extensive portfolio of dental products and solutions at the 2023 Chicago Dental Society Midwinter (CMW) meeting. The company's presence at the event will give oral health professionals a unique opportunity to explore and experience a wide range of products designed to help enhance their practice efficiency and improve the overall patient experience. The Chicago Dental Society Midwinter meeting is one of the most significant events in the dental industry, attracting thousands of dental professionals worldwide.
Glooko Inc. has recently partnered with Sanofi to provide better support for individuals with diabetes and healthcare professionals. The partnership will integrate SoloSmart, a connected device designed for use with SoloStar and DoubleStar insulin injection pens, with the Glooko platform. Integrating SoloSmart with the Glooko platform will enable patients to share their diabetes management data with healthcare professionals for more personalized and connected care.
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Key Questions Answered in US Patient Engagement Solutions Market Report
- What are the key drivers of growth or decline in specific market segments, and how have businesses adapted to these changes over time?
- How do government regulations and economic conditions vary across regions, and what long-term sustainability strategies do businesses use to navigate these differences?
- In what ways have changed consumer preferences and values impacted market demand, and how do businesses innovate to engage with these evolving trends effectively?
- How do businesses measure and analyze market trends, and what data-driven approaches do they use to make informed business decisions in an increasingly complex and competitive marketplace?
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