Patient Engagement Technology Market Size 2022 Increased patient satisfaction and experience will drive growth at 15% CAGR through 2029

Extensive research in the patient engagement technology market shows that involving patients in healthcare leads to significant measurable improvements in hospital safety and quality of care towards acceptance

Luton, Bedfordshire, United Kingdom, November 01, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting division of Ameliorate Digital Consultancy Private Limited, has completed and published the definitive copy of the detailed research report on Patient Experience Technology Market.

The global patient experience technology market is anticipated to grow at a CAGR of 15% from 2022 to 2029. Growth is expected to exceed $42.21 billion by 2029.

The patient engagement technology market is expected to grow rapidly as the healthcare industry transitions from a traditional volume-based reimbursement system to a value-based reimbursement system. By adopting patient engagement technologies, the healthcare industry can reduce costs while improving the quality of care. This technology also offers a positive return on investment.

Mobile healthcare technology has also proven to be a potentially powerful tool for patient engagement with healthcare. Adoption of mHealth apps is increasing due to increasing emphasis on continuous monitoring of vital signs to control various chronic diseases such as cardiovascular disease, obesity and diabetes. Mobile health technology can improve the care process by improving the ability of health care providers to reach vulnerable people and actively involve them in their care. The majority of healthcare organizations offer mobile healthcare technology to their patients.

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As the patient engagement technology market is patient-centric, a positive patient experience plays a key role in successful patient engagement. However, the majority of patient engagement technologies do not provide a positive patient experience and there have been several patient complaints about them, leading healthcare providers to seek to replace their current providers. I’m being pushed. Therefore, the alternative patient retention technology market presents a significant opportunity for market vendors due to the poor usability of the current patient retention technology.

Recent Developments:

  • In 2021, Press Ganey (USA) partnered with the Beryl Institute (USA), a global network of healthcare professionals and seasoned champions. Through this partnership, Press Ganey will focus on driving the experience movement in healthcare.

  • In 2021, Vocera (US) partnered with Amazon (US) to develop the Vocera Skill tool for Alexa. Vocera Skill will expand the Vocera ecosystem with hands-free and immersive voice experiences for patients and families.

  • In 2021, SONIFI Health (US) and CipherHealth (US) entered into a strategic partnership to leverage the key competencies of both solution providers and offer healthcare systems a more holistic approach to patient communication and successful care planning.

report attribute

details

Market size value in 2022

$12 billion

Sales forecast 2030

$42.21 billion

growth rate

CAGR of 15% from 2022 to 2029

Base year for the estimate

2021

Historical data

2017 – 2020

forecast period

2022 to 2029

Quantitative Units

Revenue in USD million and CAGR from 2022 to 2029

report coverage

Sales Forecast, Company Ranking, Competitive Landscape, Growth Factors and Trends

segments covered

Type of delivery, component, functionality, therapeutic area, application, end user, region

regions covered

North America; Europe; Asia Pacific; Latin America; MEAS

country area

US; Canada; UNITED KINGDOM; Germany; Italy; France; Spain; Netherlands; Sweden; Russia; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; Israel; UAE

Important companies in profile

Cerner Corporation (Oracle); NextGen Healthcare, Inc.; Epic Systems Corporation; Allscripts Healthcare, LLC; McKesson Corporation; ResMed; Royal Philips NV; Klara Technologies, Inc.; CPSI; Experian Information Solutions, Inc.; Athenahealth, Inc.; Solutionreach, Inc.; IBM; MEDHOST; Nuance Communications, Inc.

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Patient Experience Technology Market Players

Key players in Patient Experience Technology Market include Epic MyChart Bedside, Spok, Access Care Planning (formerly Mobizio), Getwell, athenaCoordinator, eClinicalWorks, SimplePractice, Luma Health, Allscripts, ChiroTouch, Phreesia, DrChrono, SoftClinic, Solutionreach, WebPT, RevenueWell , Weave , Salesforce Health Cloud, patientNOW, PracticeSuite.

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https://exactitudeconsultancy.com/reports/10262/patient-experience-technology-market

Key Market Segments: Patient Experience Technology Market

Patient Experience Technology Market by TypeInteractive patient care systems (IPC)

Patient Experience Technology Market by Application

Regional Analysis

North America will account for the largest revenue share of over 35.0% in 2021 driven by the presence of key players, increasing adoption of mHealth and EHR, and increasing investments by major players in patient engagement software. In addition, increasing awareness related to government spending on the healthcare sector is expected to accelerate growth. Europe has its second-largest share in 2021, driven by publicly funded plans like the UK’s National Health Service (NHS). For example, the NHS plans to go completely paperless by 2020 and allow patients to access their EHR from 2018.

Drivers: Favorable government regulations and initiatives to encourage adoption of HCIT solutions

Increasing patient demand for quality care is driving healthcare systems around the world to adopt modern technologies that help reduce costs, improve quality of care and reduce administrative inefficiencies. This ensures access to a better patient experience platform for all hospitals. The HITECH Act establishes its ONC, empowering the US Department of Health and Human Services to establish programs to improve the quality, safety, and efficiency of healthcare through advances in healthcare IT. Initiatives like these are expected to drive the adoption of technology solutions for the patient experience.

Opportunity: Proven benefits of patient experience solutions in improving hospital financial performance

Payers looking for better value are also helping hospitals focus on the patient experience. Programs like Medicare’s Hospital Value-Based Purchasing (VBP) program financially reward hospitals for better patient reporting. As a result, patient experiences for a variety of factors, such as B. night-time noise levels and communication skills between doctor and nurses, have become important performance indicators for hospitals.

Services to clinics and hospitals (providers)/payers

  • Greater patient satisfaction and experience

  • Improved clinical outcomes and treatment quality

  • More timely appointments and reduced no-show rate

  • Assistance in meeting the criteria for reasonable use (MU).

  • Reducing readmission rates to hospitals

  • Increased patient retention

  • Reduce overall costs

benefits for patients

  • Easy access to health information – Patients can easily access medical information anytime, anywhere by using a patient engagement technology or platform

  • Easy communication between patient and provider – e-visits and secure messaging help patients communicate with providers via their mobile devices.

  • Easily monitor treatment progress—patients can view and share their medical records and access test results on their mobile devices

  • Increased patient satisfaction: Better understanding of care through PES; The built-in value-based care program feature in PES allows patients to pay primarily for the value-based care received.

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