Patient Experience Technology Market

Patient Experience Technology Market by Component (Technology (Patient Rounding, Patient experience survey), Consulting Services) & Facility Type (Acute Care, Post Acute Care, Non Acute Care (Physicians Office, Clinics)) - US Forecasts to 2026

Report Code: HIT 8057 Mar, 2022, by marketsandmarkets.com

[88 Pages Report]The US patient experience technology market is projected to reach USD 299 million by 2026 from USD 179 million in 2021, at a CAGR of 10.7% during the forecast period. Growth in this market is driven by factors such as the favorable government regulations and initiatives to promote the adoption of HCIT solutions, the advantages of patient rounding solutions, and the growing number of collaborations and partnerships between stakeholders. However, factors such as the high investments for IT infrastructure and the shortage of skilled IT professionals in the healthcare industry are expected to restrain the growth of this market to a certain extent during the forecast period.

Patient Experience Technology Market

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COVID-19 IMPACT ON THE US patient experience technology market

The COVID-19 pandemic has had a devastating global impact on the health of the population and a huge economic impact on most countries. As of 31st December 2021, 290 million cases have been reported worldwide, with 5,419,881 deaths (Worldometer). Since new patient satisfaction survey data reduced drastically during the pandemic, many of the standard survey questions in use currently are less immediately relevant. The COVID-19 pandemic also increased the need for social distancing among physicians and patients, which has driven the demand for telehealth solutions and the need for patient rounding solutions to make the patient care process hassle-free. Various players in this market introduced COVID-19-related features into their existing patient experience solutions, which are made available to users free of cost.

US Patient Experience Technology Market Dynamics

Driver: Favorable government regulations and initiatives to promote the adoption of HCIT solutions

The growing patient demand for quality care has prompted healthcare systems across the globe to adopt the latest technologies that help curtail costs, enhance care quality, and reduce administrative inefficiencies. This ensures access to better patient experience platforms across hospitals. The HITECH Act established ONC and provides the US Department of Health and Human Services with authority to establish programs to improve healthcare quality, safety, and efficiency through the promotion of health IT. Such initiatives are expected to propel the adoption of patient experience technology solutions.

Restraint: High initial investments for IT infrastructure

Most healthcare providers do not have the required infrastructure (technology, data, and other resources) to deploy complex HCIT solutions. To successfully implement patient experience technology solutions, providers are required to make further investments in infrastructural development to support IT systems. The effectiveness of a patient experience technology solution is dependent on the hardware and software present with the end user—as a result, any end user seeking to implement such a solution must first invest heavily in these areas. Since many hospitals have restricted budgets, it is difficult for them to make such significant investments.

Challenge: Issues related to data security

This is a major issue as the infrastructure can be exposed to networks that are outside secured organization networks. For instance, a hospital may have medical devices connected to home networks, public Wi-Fi, or cellular networks, which transmit information back to the hospital’s network. These outside networks may not be secure, making the information being transferred prone to unauthorized access. As a result, patient feedback might be passed on to non-intended recipients, which may be misused and eventually result in a security breach.

Opportunity: Proven benefits of patient experience solutions in improving the financial performance of hospitals

Payers that look for better value also help drive hospitals to focus on patient experience. Programs such as Medicare’s Hospital Value-Based Purchasing (VBP) Program financially reward hospitals with better patient-reported experience scores. As a result, patient experience scores for factors as diverse as nighttime noise levels and doctors’ and nurses’ communication skills have become a key hospital performance measure

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Some major players in the US patient experience technology market are Sodexo (France), Press Ganey Associates (US), Vocera Communications (US), Huron Consulting Group (US), Aramark (US), CipherHealth (US), Accenture (US), Qualtrics (US), GetWell (US), and HybridChart (US).

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Scope of the Report

Report Metric

Details

Market size available for years

2019-2026

Base year considered

2020

Forecast period

2021–2026

Forecast units

Value (USD Million)

Segments covered

Component and Facility type

Geographies covered

US

Companies covered

Sodexo (France), Press Ganey Associates (US), Vocera Communications (US), Huron Consulting Group (US), Aramark (US), CipherHealth (US), Accenture (US), Qualtrics (US), GetWell (US), and HybridChart (US).

The study categorizes the US patient experience technology market into the following segments and subsegments:

US Patient experience technology  Market, By Component

  • Technology
    • Patient Rounding
    • Patient experience survey
    • Consulting Services

US Patient experience technology Market, By Facility Type

  • Acute care facility
    • Acute Hospitals
    • Childrens Hospitals
    • Academic medical center
    • Military Treatment Facility
    • Ambulatory Surgery Center

  • Post Acte Care Facility
    • Long term acute facility
    • Skilled Nursing Facility
    • Other
  • Non Acute care Facility
    • Physicians Office
    • Clinics

Recent Developments:

  • In 2021, Press Ganey (US) partnered with The Beryl Institute (US), a global network of healthcare professionals and experienced champions. Through this partnership, Press Ganey will focus on advancing the healthcare experience movement.
  • In 2021, Vocera (US) collaborated with Amazon (US) to build the Vocera Skill tool for Alexa. Vocera Skill will expand Vocera’s ecosystem to include hands-free and immersive voice experiences for patients and families.
  • In 2021, SONIFI Health (US) and CipherHealth (US) entered into a strategic partnership to leverage the key capabilities of both solution providers and offer health systems a more holistic approach to patient communication and successful care planning.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 13)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 US PATIENT EXPERIENCE TECHNOLOGY MARKET: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 LIMITATIONS
           1.5.1 SCOPE-RELATED LIMITATIONS
           1.5.2 METHODOLOGY-RELATED LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 17)
    2.1 RESEARCH DATA
          FIGURE 1 RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY RESEARCH
                    FIGURE 2 PRIMARY SOURCES
                    2.1.2.1 Key industry insights
                    2.1.2.2 Breakdown of primary interviews
                                FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE (SUPPLY AND DEMAND SIDE) AND DESIGNATION
    2.2 MARKET SIZE ESTIMATION METHODOLOGY
          FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 TOP-DOWN & BOTTOM-UP APPROACHES
          FIGURE 5 RESEARCH METHODOLOGY: MARKET ESTIMATION
          FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY (TOP-DOWN APPROACH): SEGMENTAL ANALYSIS
    2.4 MARKET DATA ESTIMATION AND TRIANGULATION
          FIGURE 7 DATA TRIANGULATION METHODOLOGY
    2.5 ASSUMPTIONS FOR THE STUDY
    2.6 RISK ASSESSMENT
          TABLE 1 RISK ASSESSMENT: US PATIENT EXPERIENCE TECHNOLOGY MARKET
    2.7 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 26)
    FIGURE 8 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY COMPONENT, 2021 VS. 2026 (USD MILLION)
    FIGURE 9 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY FACILITY TYPE, 2021 VS. 2026 (USD MILLION)

4 PREMIUM INSIGHTS (Page No. - 28)
    4.1 US PATIENT EXPERIENCE TECHNOLOGY MARKET OVERVIEW
          FIGURE 10 FAVORABLE GOVERNMENT REGULATIONS AND THE ADVANTAGES OF PATIENT ROUNDING SOLUTIONS ARE KEY FACTORS DRIVING MARKET GROWTH
    4.2 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY FACILITY TYPE
          FIGURE 11 ACUTE CARE FACILITIES TO DOMINATE THE US PATIENT EXPERIENCE TECHNOLOGY MARKET DURING THE FORECAST PERIOD
    4.3 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY COMPONENT AND FACILITY TYPE (2021)
          FIGURE 12 THE TECHNOLOGY SEGMENT ACCOUNTED FOR THE LARGEST SHARE OF THE US PATIENT EXPERIENCE TECHNOLOGY MARKET IN 2021

5 MARKET OVERVIEW (Page No. - 31)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 13 US PATIENT EXPERIENCE TECHNOLOGY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Favorable government regulations and initiatives to promote the adoption of HCIT solutions
                    5.2.1.2 Advantages of patient rounding solutions
                    5.2.1.3 Growing number of collaborations and partnerships between stakeholders
           5.2.2 RESTRAINTS
                    5.2.2.1 High initial investments for IT infrastructure
                    5.2.2.2 Shortage of skilled IT professionals in the healthcare industry
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Proven benefits of patient experience solutions in improving the financial performance of hospitals
                    5.2.3.2 Technological advancements
           5.2.4 CHALLENGES
                    5.2.4.1 Issues related to data security
    5.3 IMPACT OF COVID-19 ON THE US PATIENT EXPERIENCE TECHNOLOGY MARKET

6 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY COMPONENT (Page No. - 36)
    6.1 INTRODUCTION
          TABLE 2 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY COMPONENT 2019–2026 (USD MILLION)
    6.2 TECHNOLOGY
          TABLE 3 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY TYPE, 2019–2026 (USD MILLION)
           6.2.1 PATIENT ROUNDING
                    6.2.1.1 Patient rounding improves patient satisfaction scores in healthcare organizations—a key factor driving market growth
           6.2.2 PATIENT EXPERIENCE SURVEYS
                    6.2.2.1 Patient experience surveys convert subjective reviews into quantifiable and meaningful data—a key factor driving market growth
    6.3 CONSULTING SERVICES
           6.3.1 CONSULTING SERVICES PROVIDE EXPERT CONSULTANCY TO ENSURE SOLUTIONS AND PROCESS OPTIMIZATION

7 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY FACILITY TYPE (Page No. - 39)
    7.1 INTRODUCTION
          TABLE 4 US PATIENT EXPERIENCE TECHNOLOGY MARKET, BY FACILITY TYPE, 2019–2026 (USD MILLION)
    7.2 ACUTE CARE FACILITIES
          TABLE 5 US PATIENT EXPERIENCE TECHNOLOGY MARKET FOR ACUTE CARE FACILITIES, BY TYPE, 2019–2026 (USD MILLION)
           7.2.1 ACUTE HOSPITALS
                    7.2.1.1 Growing prevalence of chronic diseases and subsequent growth in patient volumes in acute hospitals to drive market growth
           7.2.2 CHILDREN’S HOSPITALS
                    7.2.2.1 Increasing number of children’s hospitals taking efforts to provide quality medical care as well as entertainment for children—a key factor driving market growth
           7.2.3 ACADEMIC MEDICAL CENTERS
                    7.2.3.1 Better communication with medical students to drive the adoption of patient experience solutions in academic medical centers
           7.2.4 MILITARY TREATMENT FACILITIES
                    7.2.4.1 Military Health System offers healthcare benefits and services through programs—a key factor driving market growth
           7.2.5 AMBULATORY SURGERY CENTERS
                    7.2.5.1 Adoption of patient experience surveys leading to improved performance of ASCs to growth market growth
    7.3 POST-ACUTE CARE FACILITIES
          TABLE 6 US PATIENT EXPERIENCE TECHNOLOGY MARKET FOR POST-ACUTE CARE FACILITIES, BY TYPE, 2019–2026 (USD MILLION)
           7.3.1 LONG-TERM ACUTE FACILITIES
                    7.3.1.1 Long-term acute facilities are the fastest-growing treatment facilities for the elderly
           7.3.2 SKILLED NURSING FACILITIES
                    7.3.2.1 Increasing number of skilled nursing facilities will drive the growth of the market
           7.3.3 OTHER POST-ACUTE CARE FACILITIES
    7.4 NON-ACUTE CARE FACILITIES
          TABLE 7 US PATIENT EXPERIENCE TECHNOLOGY MARKET FOR NON-ACUTE CARE FACILITIES, BY TYPE, 2019–2026 (USD MILLION)
           7.4.1 PHYSICIANS’ OFFICES
                    7.4.1.1 Increasing number of people seeking treatment at physicians’ clinics based on positive online reviews to drive market growth
           7.4.2 CLINICS
                    7.4.2.1 Growing number of clinics adopting modern approaches to treatment and digitized workflows to drive market growth

8 COMPETITIVE LANDSCAPE (Page No. - 46)

    8.1 OVERVIEW
    8.2 KEY DEVELOPMENTS
          FIGURE 14 KEY DEVELOPMENTS BY PROMINENT PLAYERS IN THE US PATIENT EXPERIENCE TECHNOLOGY MARKET
    8.3 MARKET RANKING
          FIGURE 15 US PATIENT EXPERIENCE TECHNOLOGY MARKET RANKING, BY KEY PLAYER, 2020
    8.4 COMPANY EVALUATION MATRIX DEFINITION & METHODOLOGY
           8.4.1 STARS
           8.4.2 PERVASIVE PLAYERS
           8.4.3 EMERGING LEADERS
           8.4.4 PARTICIPANTS
                    FIGURE 16 US PATIENT EXPERIENCE TECHNOLOGY MARKET: COMPANY EVALUATION QUADRANT, 2020
    8.5 COMPETITIVE SITUATIONS AND TRENDS
           8.5.1 PRODUCT LAUNCHES
                    TABLE 8 PRODUCT LAUNCHES, JANUARY 2019–JUNE 2021
           8.5.2 DEALS
                    TABLE 9 DEALS, JANUARY 2019–JUNE 2021

9 COMPANY PROFILES (Page No. - 55)
(Business Overview, Products & services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
    9.1 KEY PLAYERS
           9.1.1 VOCERA COMMUNICATIONS INC.
                    TABLE 10 VOCERA COMMUNICATIONS INC.: BUSINESS OVERVIEW
                    FIGURE 17 VOCERA COMMUNICATIONS INC.: COMPANY SNAPSHOT (2020)
           9.1.2 PRESS GANEY ASSOCIATES
                    TABLE 11 PRESS GANEY ASSOCIATES: BUSINESS OVERVIEW
           9.1.3 QUALTRICS INTERNATIONAL INC.
                    TABLE 12 QUALTRICS: BUSINESS OVERVIEW
                    FIGURE 18 QUALTRICS: COMPANY SNAPSHOT (2020)
           9.1.4 SODEXO
                    TABLE 13 SODEXO: BUSINESS OVERVIEW
                    FIGURE 19 SODEXO: COMPANY SNAPSHOT (2020)
           9.1.5 HURON CONSULTING GROUP
                    TABLE 14 HURON CONSULTING GROUP: BUSINESS OVERVIEW
                    FIGURE 20 HURON CONSULTING GROUP: COMPANY SNAPSHOT (2020)
           9.1.6 ARAMARK
                    TABLE 15 ARAMARK: BUSINESS OVERVIEW
                    FIGURE 21 ARAMARK: COMPANY SNAPSHOT (2020)
           9.1.7 CIPHERHEALTH
                    TABLE 16 CIPHERHEALTH: BUSINESS OVERVIEW
           9.1.8 ACCENTURE PLC
                    TABLE 17 ACCENTURE PLC: BUSINESS OVERVIEW
                    FIGURE 22 ACCENTURE PLC: COMPANY SNAPSHOT (2020)
    9.2 OTHER PLAYERS
           9.2.1 GETWELL NETWORK INC.
                    TABLE 18 GETWELL NETWORK INC.: BUSINESS OVERVIEW
           9.2.2 HYBRIDCHART INC.
                    TABLE 19 HYBRIDCHART INC.: BUSINESS OVERVIEW

*Details on Business Overview, Products & services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

10 APPENDIX (Page No. - 83)
     10.1 DISCUSSION GUIDE
     10.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     10.3 AVAILABLE CUSTOMIZATIONS
     10.4 RELATED REPORTS
     10.5 AUTHOR DETAILS

This market research study involved the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the US patient experience technology market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess market prospects. The size of the US patient experience technology market was estimated through various secondary research approaches and triangulated with inputs from primary research to arrive at the final market size.

Secondary Research

The secondary sources referred to for this research study include publications from government sources, such as WHO, ATA, AHA and OECD. Secondary sources also include corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements); business magazines and research journals; press releases; and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall size of the global remote patient monitoring market, which was validated through primary research.

Primary Research

Extensive primary research was conducted after acquiring basic knowledge about the US patient experience technology market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side (such as Individual Physicians, Physician Groups, Hospitals, Clinics and Other Healthcare Facilities, Payers- Private and Public Insurance Bodies, Other End Users- Employer Groups and Government Bodies) and supply-side (such as C-level and D-level executives, product managers, marketing and sales managers of key manufacturers, distributors, and channel partners, among others) majorly across US. Approximately 70% and 30% of primary interviews were conducted with supply-side and demand-side participants, respectively. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.

Patient Experience Technology Market Size, and Share

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

Both top-down and bottom-up approaches were used to estimate and validate the total size of the US patient experience technology market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The revenue generated from the sale of patient experience technology by leading players has been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size, from the market size estimation process explained above, the US patient experience technology market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in US patient experience technology market

Report Objectives

  • To define, describe, and forecast the US patient experience technology market based on component and facility type
  • To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall US patient experience technology market
  • To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To strategically analyze the market structure and profile the key players in the US patient experience technology market and comprehensively analyze their core competencies
  • To track and analyze competitive developments such as product launches, acquisitions, partnerships, agreements, and collaborations in the US patient experience technology market during the forecast period

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Report Code
HIT 8057
Published ON
Mar, 2022
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