According to new market research report “ Home Healthcare Software – Product & Service Market – Application (Clinical, Non – Clinical), Usage (Laptop, Smartphone), Product (Agency, Clinical Management System, Telehealth, Hospice), Delivery (Web – Based , On-Premises, Cloud), End User – Global Forecast to 2018 „published by MarketsandMarkets, The Global Home Healthcare Software Market is estimated to reach $ 6.4 trillion, at a CAGR of 13.4%.
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The market is being driven by skyrocketing healthcare costs, spiraling aging population, increasing the incidences of chronic disorders, hospital readmission reduction program by US, shortage of nursing and doctor staff, OASIS documentation, and favorable government initiatives.
Based on products, the global home healthcare software and services market is further segmented into agency solutions, hospice solutions, telehealth solutions, and clinical management system (CMS) solutions. Of all, clinical management system (CMS) and telehealth solutions wants to be the fastest-growing market in the next five years.CMS is an integrated package of various applications such as homecare-EMR, CPOE, CDSS, electronic point of care documentation (485 plan, OASIS), alert management module, physician’s portal module, medication management, among others.
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By application, homecare software market is divided into clinical and non-clinical. The clinical segment includes homecare-EMR, medication management, electronic point-of-care documentation, and others including physicians portal. On the other side, non-clinical homecare software is segmented into billing and scheduling, homecare CRM, accounting, payroll, and others. Non-clinical applications accounted for the largest share of the global home healthcare software and services market.
Geographic analysis reveals that North America is the largest contributor to the global home healthcare software market in 2013 and expects to become the second fastest growing region for home healthcare software market by 2018. Factors driving the North American market are the growing demands for integrated solutions, firm support from the US federal government, Obama’s new budget plan for reimbursement cut by 1.1% per year to home care agency that enforce them to adopt homecare IT solutions, growth in aging population, growing healthcare costs, and growth in patient consumerism for quality care.
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The key players in the market are Agfa Healthcare (Belgium), Allscripts Healthcare Solutions, Inc. (US), athenahealth, Inc. (US), Cerner Corporation (US), Carestream Health, Inc. (US), Epic (US) , GE Healthcare (UK), McKesson Corporation (US), MEDITECH (US), NextGen Healthcare Information System LLC (US), Novarad Corporation (US), and Siemens Healthcare (Germany).
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