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.
Medical Scheduling Software Market Size – USD 224.8 million in 2018, Market Growth – CAGR of 12.7%, Market Trends – Incorporation of IT in healthcare, and changing lifestyle in developing countries
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.
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.
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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.
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 ofinterface 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.
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
By Deployment Type (Revenue, USD Million, 2016 – 2026)
By Applications Type (Revenue, USD Million, 2016 – 2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Rapid urbanization, digitization.
3.2. Improvement of Healthcare facilities across the nations
3.3. Advent of technologies like Internet of Things and Cloud Computing Services
3.4. Extensive research and development activities in the technology sector
Chapter 4. Medical Scheduling Software Segmentation & Impact Analysis
4.1. Medical Scheduling Software Segmentation Analysis
4.2. Medical Scheduling Software Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Medical Scheduling Software Market Impact Analysis
Chapter 9. Competitive Landscape
9.1. Market Revenue Share by Manufacturers
9.2. Manufacturing Cost breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Strategy benchmarking
9.5. Vendor Landscape
Chapter 10. Company Profiles
10.1. TimeTrade Systems
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Length benchmarking
10.1.4. Strategic Initiatives
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