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Medical Scheduling Software Market to Incur Steady Expansion by 2027 | WellSky, Voicent Communications, Yocale Network

Medical Scheduling Software Market

Patient-centric care is defined as healthcare system that establishes partnership among practitioners and patients to ensure the decisions are supportive of the patient’s demands and needs. In recent years, advanced technologies are being utilized through which personalized data and interactions prompted by the patient are able to be managed by the patient as well as the provider.

Advancements in technology have always had major impact in the field of medicine. Smartphone is one of the most dynamic and ubiquitous trend in communication. Mobile phones can also be used for communicating through different platforms such as email, performing Internet searches, and various other applications.

The global medical scheduling software market expected to be US$ 267.83 Mn in 2018 and is predicted to grow at a CAGR of 13.0% during the forecast period 2019 – 2027, to reach US$ 789.56 Mn by 2027.

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Some of the key players influencing the market are

  • MPN Software Systems, Inc.
  • American Medical Software
  • TimeTrade
  • AdvancedMD, Inc.
  • StormSource, LLC
  • ByteBloc Software
  • Daw Systems, Inc.
  • WellSky
  • Voicent Communications Inc.
  • Yocale Network Corporation

Europe is the second largest geographic market and is expected to be the second largest revenue contributor throughout the forecast period. The region has witnessed several technological advancements in the field of healthcare by the incorporation of digital technology in order to increase the efficiency of healthcare facilities in the region. The growth is driven by the factors such as, adoption of reforms to reduce waiting times, growth of the private healthcare sector as well as increase in the use of information technology in healthcare industry.

Market Insights

Rising Adoption of Patient-Centric Approach by Healthcare Providers

Smartphones are known as significantly important tools that help to change health-related behaviors and to manage hospital schedules by patients and medical staff. These internet-based tools also contribute to make healthcare practices more easy and manageable by, collecting health data or healthcare information and offer services to the patients in terms of providing appropriate guidance regarding the concern physicist and the related details of the time availability and appointment scheduling. Due to the easy access and vast variety of applications, large number of people utilize these tools to eliminate waiting times and get convenient appointments through an accessible way.

Major problems of hospitals often depend on a poor management of patient flow, with common witnessed problems such as clinical mistakes, queues and delays, under- and over-capacity utilization, patient acceptance in inappropriate settings, variability of workload and stress for hospital staff. Thus, moving away of hospitals from self-referential designs to a patient-centric and convenient approach for both the healthcare providers as well as the patients with the help of medical scheduling software is expected to promote the growth of the market over the forecast years.

Increasing Usage of Smartphones, Tablets & Pads To Boost Adoption Of Solutions

Smartphones are one of the fastest growing sectors in the technology industry, and its impact in medicine has already been observed significantly. Smartphones aren’t just making it easier in terms of day to day chores; the technology is also streamlining care for both physicians and patients. Hospitals are making significant investments in smartphone and secure mobile platforms to enable communications between clinicians and between them and patients, according to a new survey. Clinicians will often use both a hardened device and a consumer-grade smartphone to communicate with one another and patients. For example, purpose-built devices can be integrated with in-hospital patient call systems, so nurses are paged when a patient hits the call button, increasing responsiveness. The increasing use of smartphones are thereby expected to provide opportunities for the rising use of mobile-based applications by both healthcare providers and patients to streamline workflow and avoid inconvenience such as hospital waiting time, availability of admission beds and others.

Software Insights

The global medical scheduling software market by software was led by web based software segment. In 2018, the web-based software held a largest market share of 68.48% of the medical scheduling software market, by software. The segment is also expected to witness growth at a significant rate owing to the availability of efficient as well as affordable appointment services being offered to the users.

End user Insights

The global medical scheduling software market by end user segment was led by hospitals segment. In 2018, the hospitals segment held a largest market share of 42.47% of the medical scheduling software market, by end user. The hospitals segment is also expected to dominate the market in 2027, since the number of patients visiting the hospital is significantly high owing to the availability of reimbursements as well as advanced healthcare facilities.

Strategic Insights

There have been limited developments made in the medical scheduling software market during the recent years. However, growth strategies such as expansion and acquisitions have been witnessed in the market. For instance, during July, 2018 when AdvancedMD completed the acquisition of Nuesoft Technologies, Marietta, Georgia-based SaaS platform providing practice management, clinical and medical billing applications to simplify all aspects of running an independent practice. Also, expansion by WellSky by the establishment of its headquarters in Kansas during March, 2018 has helped the company strengthen its customer base in the Kansas market.

MEDICAL SCHEDULING SOFTWARE – MARKET SEGMENTATION

By Software

  • Web Based Software
  • Installed Software

By End User

  • Hospitals
  • Clinics
  • Other End Users

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