Long Term Care (LTC) patients consist of elderly people who need continuous monitoring of healthcare conditions. These patients need monitoring post-acute care. This type of software helps to maintain or store records regarding patient health information due to treatment or post treatment in any healthcare delivery setting.
Long Term Post-Acute Care Software helps to maintain data on patient demographics, medical history, past problems, medications administered, progress notes, recurrent problems, vital signs, immunization history, laboratory data, and radiology reports. Use of the long term post-acute care software helps to automate and streamline the clinician’s workflow.
This type of Long Term Post-Acute Care Software helps to generate full record of patient’s treatment journey in clinical settings alongside other supporting care-related activities and evidence-based decision support, quality management, and outcomes reporting.
Long Term Post-Acute Care Software Market: Drivers and Restraints: Primary revenue drivers of the Long Term Post-Acute Care Software market are early onset of rapid ageing and rapid rise in baby boomer population. Rising incidence of chronic illnesses across countries is another important factor fuelling the adoption of long term post-acute care software across institutions for better healthcare management purpose.
There are cases where the rise in internet penetration rates are driving organizations to adopt these long term post-acute care software. Every market comes with a silver lining though. Restraints of the long term post-acute care software market include need for skilled manpower to operate the machines, high prices of the software, lack of skilled nursing staff, faltering reimbursement rates for long term stays, etc. Overall, increasing attention towards patient record maintenance and need for meaningful patient outcome are factors estimated to create ongoing demand for long term post-acute care software across the globe.
Long Term Post-Acute Care Software Market: Segmentation: Tentatively, the global Long Term Post-Acute Care Software Market has been segmented on the basis of product type, application type, end user and geography. Based on product type, the global Long Term Post-Acute Care Software market is segmented as: Clinical Software, Non-clinical Software; Based on application, Long Term Post-Acute Care Software market is segmented as: Financial Data Management and Billing, Electronic Health Record Management, Home Healthcare Management, ALF &ILF, Others; Based on end users, the global Long Term Post-Acute Care Software market is segmented as: Hospitals, Clinics and Nursing Homes, Managed Care Organizations, Assisted Living Facilities, Home Healthcare, Others
Long Term Post-Acute Care Software Market: Overview: The global market for Long Term Post-Acute Care Software is very niche with a handful of solutions currently approved and available. Increased focus towards personalized therapies coupled with attention towards evidence-based outcome are factors estimated to impact the revenue growth of the Long Term Post-Acute Care Software Market.
Developed markets are estimated to account for the largest revenue potential as compared to emerging markets due to high internet penetration rates and availability of improved technology. Developing product and process know-how and improvement in decision sciences are factors projected to support the demand for Long Term Post-Acute Care Software.
Revenues from Long Term Post-Acute Care Software market is estimated to expand at an impressive CAGR over the forecast period wherein revenues derived from developed markets could outweigh the market value share of emerging markets for the long term post-acute care software.
Long Term Post-Acute Care Software Market: Regional Wise Outlook: Geographically, the Long Term Post-Acute Care Software Market is segmented into eight regions viz. North America, Latin America, Western Europe, Asia-Pacific Excluding China and Japan, Eastern Europe, Japan, China, Middle East and Africa. The North America market is estimated to account for significant market value share due to presence of large number of managed care organizations and assisted living facilities.
An ageing population and large incidence of chronic illnesses are factors expected to lead to revenue increase in Western European markets –projected to emerge as second largest market for Long Term Post-Acute Care Software. Markets in Asia Pacific region are expected to develop rapidly and create significant demand for long term post-acute care software in various healthcare settings.
Long Term Post-Acute Care Software Market: Key Players: Some of the major players in the global Long Term Post-Acute Care Software Market are Allscripts Healthcare Solutions, Inc., Epic Systems Corporation, Cerner, McKesson Corporation, Omnicare, Omnicell, Inc., MatrixCare, Optimus EMR, Netsmart, and PointClickCare., Strategic initiatives such as divestments and M&A activities define the long term post-acute care software market.
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