Home Healthcare Software Market Development History with Top Players Agfa Healthcare, Mckesson , NextGen Healthcare Information System, GE Healthcare, MEDITECH

Home healthcare market is driven by various sociological, demographics, and macroeconomic factors, most notably the integration of information technology solutions in healthcare industry to meet challenges in patient data retrieval, payment and claim processing as well as storage and accessibility. The major factors for the growth of the home healthcare software market include the increasing awareness triggering the adoption rate, technological advancements leading to cost-effectiveness and ease of use, and rapid rise in the ageing population. This is further propelled by government initiatives to improve healthcare infrastructure.

As per the scope of this report, home healthcare software is the application of information processing involving both computer software that deals with the storage, retrieval, sharing, and use of healthcare information, data, and knowledge for communication and decision-making. The system offers solutions at patient’s home, thereby minimizing overall operational cost and high ROI for providers as well.

It is specifically designed for the companies employing home healthcare provider, as well as government entities who track payments to home healthcare providers. Though the market is expected to grow at a rapid rate, weak financial support from government along with low adaptability in emerging economies are major challenges inhibiting growth of overall industry.

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Some of the major companies contributing to the global home healthcare software market are Agfa Healthcare, Mckesson Corporation, NextGen Healthcare Information System LLC, GE Healthcare, MEDITECH, Medical Information Technology, Inc. (Meditech), Cerner Corporation, Siemens Healthcare and Allscripts Healthcare Solutions, Inc.

Key Developments

Key players in the market are focused on various business strategies such as signing collaborating agreements, in order to expand its customer base and gain competitive edge in the market. For instance, in September 2018, Homecare Homebase and McKesson Medical-Surgical Inc., entered into an agreement. This agreement will solidify the integration between McKesson as the preferred supplier of management solution for Homecare Homebase customers.

Key players in the market are focused on different business strategies such as partnership and collaboration to provide novel services to its customers. For instance, in October 2018, NextGen Healthcare Inc., a leading provider of ambulatory-only technology entered into partnership with OTTO Health, a telehealth vendor, to bring virtual visit capability to NextGen Enterprise clients.

Key players in the market are involved in different business strategies such as attending various health conferences to showcase its products. For instance, Royal Phillips, a global healthcare technology company, showcased its connected care technology at Healthcare Information and Management Systems Society (HIMMS) 2019 annual meeting, held at Orlando, U.S. This integrated solution would enable remote monitoring and connected care for patients in their homes with medical devices, tools, and applications. This would reduce the cost of hospital readmission.

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