Patient Engagement Technology an Innovative Tool for Healthcare Industry, End User Market Trends and Analysis - (Pricing, Replacement Trends, Selection Criteria, and Buying Behavior)
Publishing Date: February 2016
Report Code: HIT 4059
Patient engagement has become an extremely popular topic over the last few years. It has taken center stage in healthcare and is dominating almost every conversation and headlining several conferences in the field of healthcare. It is igniting interest of all the stakeholders in the healthcare industry physicians, health care professionals, providers, payers, technologists, planners and even the government. Getting patients engage in their healthcare process electronically is a crucial task and can be accomplished by using patient engagement technologies. Patient engagement technology (hardware, software, and services) enable patients and their representatives to be involved in their self-care. Engaging patients in their ‘self-care’ significantly increases understanding of their health conditions and allows patients to take informed healthcare related decisions. These technologs encourage patients to moderate their behavior in alignment with their agreed care plan and motivate self-care behavior. Implementation of patient engagement technologies allows organizations to quickly and securely share accurate time sensitive information with all the participants in the healthcare delivery process regardless of their role.
Factors such as legislative reforms of the Affordable Care Act (ACA) in the U.S., demand for improved quality of care, the Meaningful Use (MU) program of federal government’s Office of the National Coordinator’s (ONC), increasing awareness of mobile health (m-health), enhanced worker productivity, rising aging population, and incentives by various governments for the adoption of patient engagement technology are driving the growth of the market. The benefits provided by patient engagement technologies such as cost reduction, reduction in hospital readmission rates, increased patient outreach, and improved quality of healthcare are resulting in an increase in the deployment of these technology. Furthermore, increasing focus on value-based medicine due to peer pressure and shifting focus towards patient centric systems is expected to drive the global market in the coming years.
However, in spite of numerous benefits of patient engagement technologies certain barriers such as huge investments, lack of health literacy in a large portion of the population, fragmented end-user market, poor access to healthcare and security of patient data are hindering growth of this market.
Scope of the Report
This report provides qualitative assessment of the patient engagement technology in terms of pricing, vendor replacement trends, and selection criteria of adopting patient engagement technologies from provider perspective.
Patient Engagement Technology’s Market: Force Field Analysis
- Driving Forces
- Restraining Forces
Patient Engagement Technology Market: End-User Market Potential Analysis (Qualitative Assessment)
Patient Engagement Technology Market: Hospitals Buying Behaviour Assessment: U.S. Market
- Purchase intention, by Hospital Size
- Purchase intention, by Role
Patient Engagement Technology Market: Pricing Analysis
- Licensing fees
- Implementation fees
- Annual license maintenance fees
- Up-gradation and integration fees
- Consulting fees
Patient Engagement Technology Market: Replacement Trends (Qualitative Assessment)
Patient Engagement Technology Market: Role of Mobile in Patient Engagement
- Importance of mobile in patient engagement market
- Implementation status of mobile health technology
Patient Engagement Technology Market: Selection Criteria for Patient Engagement Technology (Provider Perspective)
- Cost of patient engagement technologies
- Integration capabilities
- Vendor reputation
- Accessibility and ease of use
- Aligned functionality
Table of Content
Rationale for Adoption of Patient Engagement Solutions
Benefits to Clinics and Hospitals (Providers)/Payers
Benefits to Patients
Research Methodology Steps
Data Triangulation Methodology
Primary Research– Sampling Frame
Force Field Analysis
Awareness Amongst Patients About Pes
Benefits to Patients
Ease of Use
Requirement of Healthcare Information Technology (HCIT) Infrastructure
Reluctance of Patients
Health Information Safety Concerns
End-User Market Potential Analysis (Qualitative Assessment)
Hospitals Buying Behaviour Assessment: U.S. Patient Engagement Solutions Market
Purchase Intention, By Hospital Size
Purchase Intention, By Role
Pricing Analysis of Patient Engagement Solutions
Annual License Maintenance Fees
Up-Gradation and Integration Fees
Patient Engagement Solutions Replacement Trends (Qualitative Assessment)
Role of Mobile in Patient Engagement
Importance of Mobile in Patient Engagement Market
Implementation Status of Mobile Health Solutions
(Appointments, Immunization, and Screening Reminders, Health Promotion and Education, Personal Health Information Access)
Selection Criteria for Patient Engagement Solutions (Provider Perspective)
Cost of Patient Engagement Solution
Accessibility and Ease of Use
List of Figures (10 Figures)
Figure 1 Data Triangulation Methodology
Figure 2 MnM Know
Figure 3 Force Field Analysis
Figure 4 End-User Market Potential Analysis (2014-2019)
Figure 5 Purchase Intention, By Hospital Size (2016)
Figure 6 Purchase Intention, By Role (2016)
Figure 7 Patient Engagement Solutions: Cost Components
Figure 8 Replacement Trends
Figure 9 Implementation Status of Mobile Health Solutions for Patient Engagement (2015)
Figure 10 Selection Criteria
Patient engagement technology is increasingly being adopted by healthcare providers, payers, and patients across the globe, particularly in the U.S. This report provides qualitative assessment of the patient engagement technologies in terms of pricing, vendor replacement trends, and selection criteria of adopting patient engagement technologies from provider perspective.
The market is expected to grow rapidly as the healthcare industry witnesses a shift to a value-based reimbursement system from the traditional volume-based fee for reimbursement system. Adoption of patient engagement technology enables the healthcare industry to reduce costs while improving the quality of healthcare. The technology also provides positive returns on investment. Furthermore, legislative reforms of the Affordable Care Act (ACA) in the U.S., government incentives, and rising aging population has stimulated the adoption of patient engagement technologies in the healthcare industry. However, in spite of numerous benefits, certain barriers such as huge investments requirement, fragmented end-user market, and security of patient data are restraining the growth of this market.
The pricing of patient engagement technology depends on number of parameters that determine the cost of patient engagement technologies. These factors are categorized into “Up-front Cost” and “On-going Costs”. The report provides a generalized trend of pricing of patient engagement technologies.
Mobile health technologies have also emerged as potentially powerful tools to engage patients in health care. Mobile health technology can strengthen care delivery process by improving providers’ capacity to reach vulnerable populations and actively engage them in their care. Most of the healthcare organizations are providing mobile health technology to their patient.
As the market is patient driven; favourable patient experience plays a critical role in successful patient engagement. However, majority of patient engagement technology fail to deliver a positive patient experience and there have been numerous complaints from patient population regarding the same, which in turn has triggered providers to replace their current vendors. Thus, replacement market for patient engagement technologies offers significant opportunity for vendors in the market due to poor usability of current patient engagement technologies.
The selection of a patient engagement technology must be made based on the organization’s strategic plan and objectives for implementation. Goals and desired outcomes of patient engagement technologies will vary among organizations, from meeting the Meaningful Use incentive to increasing patient engagement. The report enlightens the vendors offering patient engagement technologies about the critical factors that providers perceive as most important and which factors are relatively less important from them.