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Robotic Process Automation In Healthcare Market Revenue, Analysis, Growth Factors And Forecast 2024-2033
The new report published by The Business Research Company, titled ""Robotic Process Automation In Healthcare Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.As per the report, the robotic process automation in healthcare market size has grown rapidly in recent years. It will grow from $1.71 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The robotic process automation in healthcare market size is expected to see rapid growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%.
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Increasing Adoption Of Electronic Health Records Fuels Growth In Robotic Process Automation In Healthcare Market
The increasing adoption of electronic health records (EHR) is expected to propel the growth of robotic process automation in healthcare market going forward. Electronic health records are digitalized copies of patient medical records available with authorized healthcare professionals. The rise in EHR systems provide a centralized and easily accessible repository for patient information, allowing healthcare professionals to focus more on patient care rather than administrative tasks. Robotic process automation (RPA) in healthcare is beneficial as it optimizes data accuracy, streamlines repetitive activities, and increases operational efficiency in patient information management. For instance, in 2021, according to a report by HealthIT.gov, a US-based official website of the Office of the National Coordinator for Health Information Technology (ONC), the adoption of electronic health records (EHR) by office-based physicians increased to 78% in 2021 from 72% in 2019. Therefore, the increasing adoption of electronic health records is driving the growth of robotic process automation in healthcare market.
Advancements In Robotic Process Automation (RPA) Transforming Healthcare Operations
Major companies operating in robotic process automation in the healthcare market are focusing on advanced technology, such as cognitive automation, to gain a competitive edge. Cognitive automation refers to using advanced technologies, particularly artificial intelligence (AI) and machine learning (ML), to automate tasks that traditionally require human intelligence, reasoning, and decision-making. For instance, in June 2021, Exela Technologies, Inc., a US-based business process automation company, introduced EON, Exela's robotic process automation (RPA) platform for a large health insurance company, to speed up digital transformation initiatives. This platform automates manual operations, especially in the fulfillment and claims processing domains. EON automates structured and repetitive computer-based tasks, allowing the health insurance firm to streamline administrative procedures and increase operational efficiency. This RPA platform will enable staff to focus more on patient care and essential decision-making.
The robotic process automation in healthcare market covered in this report is segmented -
1) By Solution: Software, Services, Implementation, Support And Maintenance, Training And Consulting
2) By Operations: Rule-based Operation, Knowledge-based Operation
3) By Application: Claims Management, Clinical Documentation, Billing And Compliance Management, Appointment Scheduling, Workflow Management
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Major companies operating in the robotic process automation in healthcare market are International Business Machines Corporation, EnterBridge, NICE Ltd., Thoughtonomy Limited, Datamatics Global Services Limited, Pegasystems Inc., iRobot Corp., UiPath Inc., Verint System, Celonis SE, BlackLine Inc., Automation Anywhere Inc., HelpSystems LLC, Kofax Inc., Appian Corp., Kryon Systems Ltd., Digital Workforce Service, Redwood Software Inc., OpenConnect Systems Incorporated, AutomationEdge Solutions Limited, WorkFusion Inc., FortressIQ Inc.
Contents of the report:
1. Executive Summary
2. Robotic Process Automation In Healthcare Market Report Structure
3. Robotic Process Automation In Healthcare Market Trends And Strategies
4. Robotic Process Automation In Healthcare Market - Macro Economic Scenario
5. Robotic Process Automation In Healthcare Market Size And Growth
…..
27. Robotic Process Automation In Healthcare Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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