Sat, 23 Oct 2021

Rapid Urbanization and digitization, advent of technologies like Internet of Things and cloud services, increase in interface points, ability to manage workflow and increase efficiency, maximum workforce utilization, and extensive research & development are some of the factors, which are expected to grow the Medical Scheduling Software market.

According to the current analysis of Reports and Data, the global medical scheduling software market was valued at USD 234.8 million in 2018 and is expected to reach USD 612.5 million by the year 2026, at a CAGR of 12.7%. The study provides an edge to overall insight into the factors responsible for the growth in the medical scheduling software market. The Healthcare sector is a crucial and integral part of human lives across the globe. Thus, any error committed in the clinical services or by healthcare providers might lead to defects or may be fatal. Recently, information and communication have been used extensively in the field of healthcare to improvise various operations and services. Patient appointment with clinicians is one of the key clinical services that has been automated during recent years. Healthcare providers efficiently reduce the operation cost, while improving the quality of healthcare services. Such systems have high potential to increase access to medical resources, while reducing cost. Simultaneously,. maximum utilization of the available resources is ensured to tackle unmet schedule constraints that may result in dissatisfaction among staff and patients.

Online scheduling software has become the most effective and efficient means to manage appointments and reservations. Moreover, it provides advanced functionality for process streamlining and the ease of access to facilitate constant touch among organizations and their customers/patients. As a result, it can significantly optimize service timelines and costs. The global rise in adoption of preventive medicine is a substantial factor fuelling the demand for online scheduling software. Depending on the number of scheduled appointments or reservations, adoption of the advanced scheduling techniques can have a significant effect on overall productivity. Furthermore, automatic reminders can also be sent via the online scheduling system. The rapid pace of innovation generates potential benefits and risks associated to public health. Therefore, FDA has issued guidelines to inform manufacturers, distributors, and other entities under the purview of FDA, to provide clarity and predictability to software manufacturers.

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Medical scheduling software market is expected to gain traction as global prevalence of chronic diseases is on the rise due to increasing adoption of sedentary lifestyle among the urban population; which has increased the number of patient inflow in medical facilities. Furthermore, people are shifting towards availing private medical facilities owing it to favourable reimbursement scenario in developed nations. Consequently, medical scheduling software market is anticipated to propel during 2019-2026, as an increasing number of private healthcare enterprises rely upon such software for their function and management.

However, the medical scheduling software market is expected to be restrained by dearth of skilled professionals in developing nations, and floating stigma related to data security while using cloud platforms. Foreign investments, specific training services, constant research, and development activities funded by government and private companies are expected to support the adoption in unpenetrated geographies and overcome this challenge. It is expected that easy-to-use interfaces and enhanced features of the medical scheduling software will boost the market growth further.

Key participants include

TimeTrade Systems, Yocale, American Medical Software, McKesson, StormSource, Voicent Communications, Total Recall Solutions, Daw Systems, Nuesoft Technologies, LeonardoMD, Beijing Ruiguang, and ByteBloc Software.

Market Dynamics:

Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.

Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2026.

Competitive Outlook:

The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.

This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.

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Further key findings from the report suggest

Medical scheduling software market is growing at a CAGR of 22.7% in Asia Pacific, followed by North America and Europe, with 37.4% and 29.1% CAGR respectively.

Advent of technologies like the Internet of Things has helped the growth of the medical scheduling software market, as increased connectivity and number of interface points has facilitated the development of robust medical scheduling software solutions.

Parallel growth in the number of Small and Medium Scale Enterprises being set up across the various end-user industries has helped the medical scheduling software market expand.

Governments are launching various server-based services in their countries and digitizing their existing services for ease of availing these public services and increase revenue. This is expected to supplement the growth of the medical scheduling software market.

Technological advances in the field of healthcare IT has dramatically changed the healthcare services. The flexibility of online scheduling software broadens its utility for a variety of different services and activities at medical, healthcare and wellness facilities, such as scheduling patient appointments, treatments, and services.

Although other alternatives exist for managing the appointment-booking process, online scheduling software is undoubtedly the most efficient and affordable option for all-sized organizations, regardless of the type of service they schedule.

The time constrain and change in lifestyle is contributing to the growth of market as individuals hardly have time to spare for traditional booking methods. Moreover, internet users between the ages of 55-64 have significantly increased from 25% to 47%.

The online interaction and transfer of information between a facility and its patients, with compliance to the Health Insurance Portability and Accountability Act (HIPAA) provisions is an important consideration when utilizing the online scheduling system. These factors are anticipated to propel the demand for the market

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For the purpose of this report, Reports and Data has segmented the medical scheduling software market on the basis of deployment type, organization size, end use industry and region:

By Product Type (Revenue, USD Million, 2016 - 2026)

Patient scheduling

Care provider scheduling

Bill Scheduling

Automated reminders

Patient informing tools

Mobile applications

Others

By Deployment Type (Revenue, USD Million, 2016 - 2026)

Web-Based

Installed

By Applications Type (Revenue, USD Million, 2016 - 2026)

Hospital

Clinic

Others

Regional Analysis covers:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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About Reports and Data

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