Global Hospital Capacity Management Solutions Market is set to witness a healthy growth rate of 18% in the next 5 years

·3 min read
Medi-Tech Insights
Medi-Tech Insights

Medi-Tech Insights: The growing burden of diseases, a corresponding rise in patient volumes, the need for better capacity management in hospitals, growing adoption fueled by benefits offered by hospital capacity management solutions, the introduction of IoT-enabled devices and need to reduce escalating healthcare costs are the key factors driving the hospital capacity management solutions market.

Brussels, Belgium, May 17, 2022 (GLOBE NEWSWIRE) --

Description:

Hospital capacity management includes software and services offered by players that empower hospital executives, administrators and clinical staff with real-time hospital capacity planning and asset tracking.

Covid-19 Triggers an Increase in Demand for Hospital Capacity Management Solutions Market

The Covid-19 pandemic adversely impacted health services globally and demanded large and rapid changes for patient care. Taking care of Covid-19 patients alongside patients with other conditions was a complex capacity planning challenge. The global medical community faced an unparalleled strain on its facilities and its resources in the wake of overcrowded hospitals, lack of oxygen cylinders, dearth of hospital beds, difficulty maintaining adequate staffing and supporting staff, extended waits for test results, shortages of critical supplies, materials, and logistic support and an expanding black market for drugs. The situation leads to an increase in costs for hospitals, decreased revenues and posed as a threat to their financial viability. To address these concerns, hospitals embraced hospital capacity management solutions that helped hospitals to better monitor patient services and make optimum utilization of its resources to generate more revenue.

IoT-based Healthcare Capacity Management Solutions Opens New Growth Opportunities in Hospital Capacity Management Solutions Market

For making decisions concerning long-term planning, facility performance and patient care & satisfaction, hospitals are increasing becoming reliant on data related to equipment assets, bed availability, workflows, patient/staff interactions, and safety compliance. Emergence of various IoT-enabled devices and real-time location systems (RTLS) has automated data collection on medical equipment location, usage and staff and patient interactions within all healthcare environments. This has helped facilities enhance compliance reporting, staff safety and shortage, workflow, hand hygiene and patient throughput by gathering meaningful data.

Hospital Capacity Management Solutions Benefits Fuels It’s Market Demand

Due to advancements in technology and interoperability, hospital capacity management software offers several benefits which is driving its adoption.

  • The software automates patient room and staff assignments, which in turn reduces waiting time and crowding in the hospital.

  • The software increases bed turnover capabilities by communicating bed status automatically, allowing another patient to be treated quickly.

  • It decreases waiting times and time spent in the hospital which in turn lowers the risk of patient developing hospital acquired infection.

  • It helps in appropriate resource allotment by integrating real-time patient flows with business analytics.

Hospital capacity management solutions follows a proactive approach for accurate demand forecasting. Bed management solutions, asset management solutions and patient care solutions allow hospitals to monitor patient services, makes optimum utilization of its resources and promotes better hospital risk management. - Director, Leading Hospital Capacity Management Software Provider, United States

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in Hospital Capacity Management Solutions Market

The hospital capacity management solutions market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and partnerships to garner market share. For instance,

  • In October 2021, GE Healthcare partnered with Apprise Health Insights to launch nation's first automated statewide hospital bed management solution in Oregon. Oregon is the first state in the U.S. to launch a new statewide command center software solution for hospital capacity and critical resource management developed by GE Healthcare.

The global hospital capacity management solutions market is a booming market that is expected to gain further momentum in the coming years due to growing prominence of digitalization, automation tools and data-driven solutions that utilize predictive analytics, AI, and ML.

Competitive Landscape Analysis: Hospital Capacity Management Solutions Market

The market is marked by the presence of players such as Cerner, McKesson, HealthStream, Stanley Healthcare, Infosys, Teletracking Technologies, WellSky, Simul8 Corporation, among others.

Explore Detailed Insights on Hospital Capacity Management Solutions Market @ https://meditechinsights.com/hospital-capacity-management-solutions-market/

About Medi-Tech Insights:

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

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Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com


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