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Healthcare Workforce Management System Market to Reach $3.55 billion in 2028 at 11.9% CAGR, Driven by Cost Containment and Patient Satisfaction

05-27-2024 10:30 AM CET | Health & Medicine

Press release from: The Business Research Company

Healthcare Workforce Management System Market Report

Healthcare Workforce Management System Market Report

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Healthcare Workforce Management System Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.55 billion In 2028 At A CAGR Of 13.6%:

The healthcare workforce management system market size has grown rapidly in recent years. It will grow from $1.91 billion in 2023 to $2.13 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to labor shortages, compliance requirements, focus on patient satisfaction, cost containment, population health management, demand for real-time data.

The healthcare workforce management system market size is expected to see rapid growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to telehealth expansion, focus on work-life balance, interoperability needs, emphasis on continuing education, rise of healthcare consumerism, value-based payment models. Major trends in the forecast period include cloud-based workforce management solutions, patient-centered staffing models, mobile workforce solutions, predictive analytics for workforce planning, data-driven decision-making.

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Healthcare Workforce Management System Market Major Segments
The healthcare workforce management system market covered in this report is segmented -
1) By Software: Time And Attendance, HR And Payroll, Talent Management, Analytics
2) By Solution: Software, Services
3) By Mode Of Delivery: Web-Based, Cloud-Based, On-Premise
4) By End User: Nursing Homes, Long-Term Care Centers, Hospitals, Other Healthcare Institutions

Key Driver - Healthcare Cost Management Fuels Growth In Workforce Management Systems Market

The rising need to curtail healthcare costs of the healthcare workforce is contributing to the growth of the healthcare workforce management system market. Healthcare workforce management solutions help healthcare facilities to manage the workforce schedules, payrolls, time and attendance, recruiting, budgeting and reporting. Most of the time healthcare facilities face challenges in managing the hospital's staff due to a surge in the number of inpatients and outpatients. These tedious manual processes lead to errors in the scheduling of the staff, and payments of staff based on their shifts were also a big challenge for management. The workforce management system helps hospital management to manage the demand for services, and allocate labor and staff efficiently to increase productivity. Companies are developing such software for efficient workforce management. For instance, in March 2022, QGenda, a US-based provider of operations, and healthcare workforce management platform, launched ProviderCloud, a scheduling-centric provider operations platform for healthcare. Using these platforms, healthcare organizations of all sizes can gain holistic visibility into their entire workforce, along with the actionable data necessary to deliver quality patient care. So, the increasing need to curtail healthcare costs through effective management of the healthcare workforce is contributing to the growth of the market.

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Prominent Trend - Technological Advancements Driving Transformation In Healthcare Workforce Management Systems

The development and integration of new technologies is a key trend in the healthcare workforce management system market. The advancement of technologies such as Cloud, IoT, and AI is enhancing the customer experience in various applications across the healthcare industry. Automation helps healthcare facilities to manage multi-care hospitals efficiently. Connected devices are helping hospital management to manage the workforce efficiently and increase the productivity of the hospital facility. Also, technologies are helping to reduce the operational cost of the facility. Many companies are also focusing on offering technology-based solutions. For instance, in January 2021, Zyter announced the launch of Zyter Smart Hospitals, an end-to-end intelligent solution. This solution connects hospitals' data systems, departments, people, and IoT devices on Zyter's robust digital communication and collaboration platform. The solution helps for efficient operation of the facility as well as helps to reduce costs with smart energy management.

Healthcare Workforce Management System Market Players
Major companies operating in the healthcare workforce management system market report are Mckesson Corporation, The International Business Machines Corporation, Oracle Corporation, GE Healthcare, ADP LLC, Cerner Corporation, Workday Inc., Epic Systems Corporation, Infor Inc., Nice Systems, Kronos Inc., Allscripts Healthcare Solutions Inc., Athenahealth Inc., eClinicalWorks, NextGen Healthcare Information Systems LLC, SYMPLR, Cornerstone Ondemand Inc., QGenda LLC, Greenway Health LLC, Atoss Software, AdvancedMD Inc., Allocate Software, Workforce Software Group Inc., OSP Labs, Strata Decision Technology LLC, Kareo Inc., DrChrono Inc., ActiveOps plc, Timeware, Ultimate Software Group Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the healthcare workforce management system market in 2023. The regions covered in the healthcare workforce management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Healthcare Workforce Management System Market Report Structure
3. Healthcare Workforce Management System Market Trends And Strategies
4. Healthcare Workforce Management System Market - Macro Economic Scenario
5. Healthcare Workforce Management System Market Size And Growth
…..
27. Healthcare Workforce Management System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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