Patient Engagement Technology an Innovative Tool for Healthcare Industry, End User Market

Patient Engagement Technology an Innovative Tool for Healthcare Industry, End User Market Trends and Analysis - (Price Analysis, Replacement Trends and Factor Analysis, Selection Criteria, Buying Behavior and Mobile health)

Report Code: HIT 4059 Dec, 2019, by marketsandmarkets.com

[64 Pages Report] Patient engagement technology is increasingly being adopted by healthcare providers, payers, and patients across the globe, particularly in the U.S. This report provides a qualitative assessment of the patient engagement technology in terms of pricing, vendor replacement trends, and selection criteria of adopting patient engagement technology from the providers’ perspective.

The patient engagement technology market is expected to rapidly grow 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 technology in the healthcare industry. However, in spite of the numerous benefits, certain barriers such as huge investment 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 technology. These factors are categorized into “Up-front Costs” and “On-going Costs.” The report provides a generalized trend of pricing of patient engagement technology.

Mobile health technologies have also emerged as potentially powerful tools to engage patients in healthcare. Mobile health technology can strengthen care delivery process by improving providers’ capacity to reach vulnerable populations and actively engage them in their care. Majority healthcare organizations are providing mobile health technology to their patients.

As the market for patient engagement technology is patient-driven, favorable patient experience plays a critical role in successful patient engagement. However, the majority of patient engagement technology fails 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, the replacement market for patient engagement technology offers significant opportunities for vendors in the market due to poor usability of current patient engagement technology.

Scope of the Report

This report provides a qualitative assessment of the patient engagement technology in terms of pricing, vendor replacement trends, factors affecting replacement trends, and selection criteria of adopting patient engagement technology from providers’ 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. Patient Engagement Technology Market

  • Purchase intention, by Hospital Size
  • Purchase intention, by Role
  • Use case of patient engagement technology (Physician Perspective)
  • Use case of patient engagement technology (Patient Perspective)

Patient Engagement Technology Market: Pricing Analysis of Patient Engagement Technology

  • Licensing fees
  • Implementation fees
  • Annual license maintenance fees
  • Up-gradation and integration fees
  • Consulting fees

Patient Engagement Technology Market: Patient Engagement Technology Replacement Trends (Qualitative Assessment)

Factors triggering the replacement of Patient Engagement Technology

Patient Engagement Technology Market: Role of Mobile in Patient Engagement

  • Importance of mobile and mobile health .applications in patient engagement market
  • Implementation status of mobile health technology

Patient Engagement Technology Market: Selection Criteria for Patient Engagement Technology (Provider Perspective)

  • Accessibility and ease of use
  • Data security
  • Integrated Value-based Care programs
  • Cost-efficient technology
  • Integration capabilities
  • Aligned functionality
  • Vendor reputation

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 technology will vary among organizations, from meeting the “Meaningful Use” incentive to increasing patient engagement. The report enlightens the vendors offering patient engagement technology about the critical factors that providers perceive as most important and which factors are relatively less vital from them.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction
    1.1 Market Definition 
    1.2 Rationale for the Adoption of Patient Engagement Solutions 

2 Research Methodology
    2.1 Research Methodology Steps 
    2.2 Data Triangulation Methodology 
    2.3 Primary Research – Sampling Frame 

3 Executive Summary

4 Force-Field Analysis
    4.1 Driving Forces 
    4.2 Restraining Forces 

5 Market Overview

6 End-User Market Potential Analysis
    6.1 Major Use Cases of Patient Engagement Technology (Physician Perspective)
    6.2 Major Use Cases of Patient Engagement Technology (Patient Perspective)

7 Hospital Buying Behavior Assessment
    7.1 Introduction 
    7.2 By Hospital Size 
    7.3 By Role

8 Pricing Analysis of Patient Engagement Solutions
    8.1 Introduction 
    8.2 Licensing Fees 
    8.3 Implementation Fees 
    8.4 Annual License Maintenance Fees 
    8.5 Upgradation and Integration Fees 
    8.6 Consulting Fees 

9 Replacement Trends for Patient Engagement Solutions (Qualitative Assessment)
    9.1 Factors Triggering Vendor Replacement

10 Role of Mhealth in Patient Engagement
     10.1 Importance of Mhealth in the Patient Engagement Market 
     10.2 Implementation Status of Mobile Health Solutions

11 Selection Criteria for Patient Engagement Solutions (Provider Perspective)
     11.1 Introduction 
     11.2 Cost of Patient Engagement Solution
     11.3 Integration Capabilities 
     11.4 Vendor Reputation 
     11.5 Accessibility and Ease of Use 
     11.6 Aligned Functionality 
     11.7 Security
     11.8 Integrated Value-Based Care Programs

12 Recent Developments


List of Tables (15 Tables)

Table 1 Primary Research (Interviews) – Sampling Frame
Table 2 Calculation for Drivers
Table 3 Calculation for Restraints
Table 4 Global Patient Engagement Technology Market, By Component, 2017-2024 (USD Million)
Table 5 Global Patient Engagement Technology Software Market, By Type, 2017-2024 (USD Million)
Table 6 Global Patient Engagement Technology Market, By Application,2017-2024 (USD Million)
Table 7 Global Patient Engagement Technology Market, By Therapeutic Area, 2017-2024 (USD Million)
Table 8 Global Patient Engagement Technology Market, By Delivery Mode, 2017-2024 (USD Million)
Table 9 Major Use Cases of Patient Engagement Technology for Physicians
Table 10 Major Use Cases of Patient Engagement Technology for Patients
Table 11 Pricing Analysis of Patient Engagement Solutions
Table 12 Factors Supporting Mobile Health Market Growth
Table 13 Deployments
Table 14 Collaborations/Partnerships
Table 15 Acquisitions


List of Figures (9 Figures)

Figure 1 Force Field Analysis
Figure 2 End User Potential Analysis
Figure 3 Purchase Intention, By Hospital Size
Figure 4 Purchase Intention, By Role
Figure 5 Pricing Analysis of Patient Engagement Technology
Figure 6 Replacement Trends
Figure 7 Factors Affecting the Replacement Trends
Figure 8 Implementation Status of Mobile Health Solutions for Patient Engagement
Figure 9 Selection Criteria

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 engaged in their healthcare process electronically is a crucial task and can be accomplished by using patient engagement technology. Patient engagement technology (hardware, software, and services) enables patients and their representatives to be involved in their self-care. Engaging patients in their ‘self-care’ significantly increases the understanding of their health conditions and allows patients to make informed healthcare-related decisions. These technologies encourage patients to moderate their behavior in alignment with their agreed care plan and motivate self-care behavior. Implementation of patient engagement technology allows organizations to quickly and securely share accurate time-sensitive information with all the participants in the healthcare delivery process regardless of their role. Patient engagement technology allows provider to make more informed and sustainable decisions improving the value added to the care of the patient.

To know about the assumptions considered for the study, download the pdf brochure

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), increased security on mobile health apps by ORCHA (Organisation for Review of Care and Health Apps) and HIPAA (Health Insurance Portability and Accountability Act) to safeguard sensitive data from security breaches, enhanced worker productivity, rising awareness among population, and incentives by various governments for the adoption of patient engagement technology are driving the growth of the patient engagement technology market. The benefits provided by patient engagement technology such as cost reduction, reduction in hospital readmission rates, increased patient outreach, and improved quality of healthcare are increasing the deployment of these technologies. Furthermore, increasing focus on value-based medicine due to peer pressure and shifting focus towards patient-centric systems and technology with better interoperability with other software is expected to drive the global patient engagement technology market in the coming years.

However, in spite of numerous benefits of patient engagement technology, certain barriers such as requirement sophisticated tools and infrastructure, 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.

Report Code
HIT 4059
Published ON
Dec, 2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Patient Engagement Technology an Innovative Tool for Healthcare Industry, End User Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

...

Digital Virtual Assistant - MarketsandMarkets

Home