Rising Adoption of Patient-Centric Approach by Healthcare Providers Fuels Medical Scheduling Software Market Growth
According to our new research study on "Medical Scheduling Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Software, and End User," the market is expected to reach US$ 927.1 million by 2028 from US$ 384.5 million in 2022, with an estimated CAGR of 13.4%. The report highlights trends prevailing in the market and drivers and restraints pertaining to the medical scheduling software market growth.
A patient-centric approach is an idea in healthcare systems that can establish a partnership among patients & their families and healthcare practitioners to align decisions with patients' needs, preferences, and wants. It also includes the delivery of specific education and support patients require to make certain decisions and participate in their care.
Increased engagement with all stakeholders (providers, patients, and others), leading to reduced overall expenses. Improved knowledge and understanding among patients of their health, well-being, and healthcare choices leading to enhanced care and reduced levels of illness. This improved knowledge can also improve care after discharge, hospital visits, reduced readmissions, and secondary consults. By engaging and collaborating with patients in decision-making, health providers can make more suitable decisions regarding a patient's health. Increased competitive advantage as more hospitals compete for patients based on both qualities of care and cost. Better quality of life for patients leads to an increase in the satisfaction of both doctor and patient.
In recent years the patient-centric approach has been predominant in the healthcare industry. Technological innovations and software development are crucial to this healthcare industry revolution. These technological developments support medical and administrative services that dramatically enhance and ease healthcare processes, communications, and workflow. Patient-centric healthcare raises patient satisfaction levels, which creates benefits for healthcare providers and practices. Thus, the rising adoption of a patient-centric approach by healthcare providers driving the growth of the medical scheduling software market.
North America held the largest market share of the medical scheduling software market in 2022. rising adoption of a patient-centric approach by healthcare providers, a developed healthcare system, the rise in healthcare expenditure, and the presence of major market players are among the prominent factors propelling the medical scheduling software market growth. In North America, the US is the largest market for medical scheduling software. The surge in the use of smart devices for monitoring health, and the presence of major market players in this country primarily drive the growth of this market. According to the 2022 survey of Physician Appointment Wait Times and Medicare and Medicaid Acceptance Rates, it takes an average of 26 days to schedule a first-time appointment with a physician, which is an 8 percent increase since 2017, when the average wait time was ~24 days. This leads to prolonged wait times, scheduling difficulties, and an imbalance of supply and demand in the public and private healthcare sectors. Medical scheduling software enables hospitals and clinics to track patients from arrival to departure and receive real-time updates on co-pays and cancellations. This enhances the entire treatment procedure and improves communication with the patient. Also, the rapid adoption of healthcare IT in the North America is anticipated to drive the growth of the medical scheduling software market in the future years.
The COVID-19 pandemic positively impacted medical scheduling software market growth as the hospitalization rate increased considerably, raising the demand for online and offline appointments for surgical procedures and treatment for chronic diseases, cancer, and diabetes. There is growing shift towards the Internet of Things, online remote care, and a growing need for enhanced administrative systems in healthcare facilities which causes growth of healthcare IT sectors that promoted the growth of the medical scheduling software market during and post COVID-19 pandemic.
TimeTrade, AdvanceMD, Inc., Yocale Network Corporation, Voicent Communications Inc., WellSky, Daw Systems, Inc., ByteBloc Software, Workpath, Delta Health Technologies, Inc., and DHS Worldwide are among the leading companies operating in the global medical scheduling software market.
The global medical scheduling software market is segmented based on software, end user, and geography. Based on software, the medical scheduling software market is bifurcated into web-based software
installed software. Based on end user, the medical scheduling software market is segmented into hospitals, clinics, and others. Based on geography, the medical scheduling software market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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