Patient Engagement Solution Market-Competitive Landscape And Market Players Allscripts, Inc., Cerner Corporation, Conifer Health Solutions, Healthagen, LLC, Orion Health, Athena Health

Patient engagement solution allows healthcare organization to obtain Accountable Care Organizations designation(which provides quality care at low cost by avoiding unnecessary spending and reducing medical error) by addressing various obstacle in patient engagement such as addressing data lag, closing care gap, and reporting patient progress.

These solutions allow active participation of patient in management of their health due to increased understanding and knowledge about his/her health, which in effect also helps the better healthcare delivery by physician resulting into reduced cost and timing of treatment. This also helps physician to maintain patient base due to continuous engagement with patient. Furthermore, it assists healthcare organizations to share important health information with patients, educate them about their health conditions, and track progress and outcomes outside the facility walls thereby facilitating chronic disease management, care transitions, and readmissions rate reductions. Moreover, PES provides important health alerts and self-management action plans to patients, their health providers, and family caregivers with the help of relevant personal health information

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Market Taxonomy

On the basis of component, patient engagement solutions market segmented into

Software
Hardware
Services
On the basis of medium, patient engagement solutions market segmented into

Web/cloud Based Medium
Location Based Medium

Increasing old age population worldwide is expected to further fuel patient engagement solutions market growth. According to the population Prospect report by United Nations in 2017, an estimated 962 million people were of age 60 or above, which accounted for 13% of the global population. By 2030, number of old people in the world is projected to be 1.4 billion, growing at annual rate of 3%. Various complications associated with old age can be better managed with PES. Advancement in big data analytics is expected to benefit the patient engagement solutions market, as it would help in management of vast data with precision in quality healthcare to individual.

On the basis of geography, patient engagement solutions market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to lead the population health management system market due to various reasons. U.S. currently has one of highest per capita expenditure on healthcare accounting for US$ 9146, according to statistics given by World Economic Forum in 2016. This cost could be saved with the greater application of patient engagement solutions resulting in quality comprehensive care with reduced hospital admissions. This would also lower the burden on health care infrastructure with shortage of physicians and hospitals beds.

Furthermore, increasing number of patients with chronic disease is another driver for market growth. According to National Cancer Institute, around 1,735,350 new cases of cancer would be diagnosed in the U.S. in 2018, and cancer is expected to cause around 609,640 death in same year. Increased hospital readmission is cause of concern in the U.S. as there is penalty provision due to hospital readmissions if they occur within certain time frame under ACA, 2009. According to American Hospital Organization 2017, since penalty provision came into effect in 2012, hospitals have paid US$ 1.9 billion of penalties, including US$ 528 million in 2017.0. Therefore, patient engagement solution assists in chronic disease management and reduce number of hospital readmission.

Increasing old age population worldwide is expected to further fuel patient engagement solutions market growth. According to the population Prospect report by United Nations in 2017, an estimated 962 million people were of age 60 or above, which accounted for 13% of the global population. By 2030, number of old people in the world is projected to be 1.4 billion, growing at annual rate of 3%. Various complications associated with old age can be better managed with PES. Advancement in big data analytics is expected to benefit the patient engagement solutions market, as it would help in management of vast data with precision in quality healthcare to individual.

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This release was published on openPR.