The Trends of this market are implementation of changing government regulations and healthcare initiatives to promote patient-centric care, high demand for patient engagement solutions in the post pandemic era, and the growing utilization of m-health apps. However, interoperability for patient engagement solutions and a shortage of skilled IT professionals in the healthcare industry are expected to restrain the growth of this market during the forecast period.
The COVID-19 pandemic has had a Long lasting impact on the health of the population and a huge economic impact on most countries. The COVID-19 pandemic has also increased the need for social distancing among physicians and patients.
Various players in this market have introduced COVID-19- related features into their existing patient engagement solutions, which are being made available to users free of cost. Additionally , due to the growing patient volumes, the demand for EMR and EHR platforms to manage complex patient data has increased.
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The law expands cover treatment and services for those affected by COVID-19. The CARES Act also increases flexibility for Medicare to cover telehealth services; authorizes Medicare certification for home health services by physician assistants, nurse practitioners, and certified nurse specialists; and increases Medicare payments for COVID-19-related hospital stays and durable medical equipment.
The maintenance and software update costs of these systems may be more than the software price. Support and maintenance services along with software upgrades , represent a recurring expenditure, which amounts to almost 30% of the total cost of ownership.
Technological advancements play a key role in reforming the country’s healthcare management sector. China is currently facing challenges such as underfunded rural health centers, overburdened city hospitals, and a nationwide shortage of doctors.
Key Market Players In Patient Engagement Solutions Market
Some of the key players are IBM (US), McKesson Corporation (US), Allscripts (US), Cerner Corporation (US), Epic Systems Corporation (US), Orion Health (New Zealand), GetWellNetwork (US), athenahealth (US), Oneview Healthcare (Ireland), MEDITECH (US), IQVIA (US), Get Real Health (US), Cognizant (US), Symphony Care (US), Harris Healthcare (US), Kareo (US), CureMD Healthcare (US).