The Medical Scheduling Software in healthcare market was valued at US$ 267.83 million in 2018 and it is projected to reach US$ 789.56 million by 2027; it is expected to grow at a CAGR of 13.0% from 2018 to 2027.
The Medical Scheduling Software in healthcare market was valued at US$ 267.83 million in 2018 and it is projected to reach US$ 789.56 million by 2027; it is expected to grow at a CAGR of 13.0% from 2018 to 2027.
Medical scheduling software allows patients to schedule their appointments through online when they are away from the hospitals or clinics. The practice employs the comprehensive system with an integrated patient portal and scheduling software. The growth of the Medical Scheduling Software in healthcare market is attributed to the rising adoption of patient-centric approach by healthcare providers, and shortage of nursing staff and doctors are expected to boost are the key driving factors for the growth of the market in the forecast period. However, the growth of the market is restrained by factors such as shortage of skilled IT technicians and risks associated with cyber threats.
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Medical Scheduling Software market Segmentation:
In terms of software, the Medical Scheduling Software in healthcare market is segmented into installed software, and web-based software. In 2018, the web based software segment held a largest market share of 68.48% of the medical scheduling software market, by software.
In terms of end user, the Medical Scheduling Software in healthcare market is segmented into hospitals, clinics and others. In 2018, the hospitals segment held a largest market share of 42.47% of the medical scheduling software market, by end user.
The major players operating in the medical scheduling software market include, MPN Software Systems, Inc., American Medical Software, TimeTrade, AdvancedMD, Inc., StormSource, LLC, ByteBloc Software, Daw Systems, Inc., WellSky, Voicent Communications Inc., and Yocale Network Corporation. The market has witnessed limited developments during the recent years. During July, 2018, 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.
Growing Applications of Medical Scheduling Software in Healthcare to Drive Medical Scheduling Software in Healthcare Market Growth
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. Smartphones are known as significantly important tools that help to change healthrelated 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.
There has been a significant shortage in the number of healthcare professional such as nurses, physicians and doctors. For instance, the US is facing serious shortage of physicians and nursing staff, majorly due to the ageing population and impending retirements of the older physicians. According to the data published by Association of American Medical Colleges (AAMC), the US is expected to face a shortage of up to 120,000 physicians by 2030, impacting patient care across the nation. Other statistics reported by FirstQuoteHealth in June 2018 show that primary physicians have a projected lack be in the vicinity of 8,700 and 43,100 by 2030. Additionally, the country also faces a huge shortage of nursing staff owing to an influx of patients into our health system, the retirement of baby boomers. The burden of resource shortage impacts nurses working in the profession due to piling up of the work. The rising shortage translates into increased wait time for patients, higher risks of mistakes and inappropriate personal attention to the patients in the hospitals.
Manual appointment scheduling by the staff at healthcare facilities has various limitations associated with it, which includes increasing difficulty in decision making with the rising complexity of the process and growth in size of the organization. Moreover, the decisions made are not recorded in any enterprise system, the knowledge sharing only depends on human interactions. Thus, moving away from manual scheduling and dispatching to an automated approach which offers solutions to the increasing shortage of nursing staff and physicians are likely to boost the growth of the medical scheduling software market at a significant rate during the forecast period.
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