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U.S. Real-time Location System (RTLS) Markets for Healthcare Providers - RFID-WiFi-RF/IR-US-UWB
Frost & Sullivan, Sep 2006
This research study addresses the latest issues and market dynamics that are forming in the U.S. Real-time Location System Markets for Healthcare Providers. It contains major drivers, restraints, challenges and strategies, select competitive profiles, market trends, workflow requirements, technologies, and scenario analysis.
Research Oveview
This Frost & Sullivan research service titled U.S. Real-time Location System (RTLS) Markets for Healthcare Providers - RFID, WiFi, RF/IR, US, UWB provides market drivers and restraints, and includes industry challenges with strategic recommendations. In this study, Frost & Sullivan's expert analysts thoroughly examine RTLS and associated tracking technologies.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Radio frequency identification (RFID)
- Wireless Fidelity (WiFi)
- RF/Infrared (IR)
- Ultrasonic (US)
- Ultra wide band (UWB)
Technologies
The following technologies are covered in this research:
- Real-time location systems (RTLS)
- Active versus passive RFID
Market Overview
Broader Installations Key to Mass Adoption of RTLS
The real-time location system (RTLS) market continues to display huge improvements by increasing efficiencies while favorably altering age-old systems. Though the market remains nascent, a few provider organizations are piloting RTLS, which continues to build positive awareness and practical usage profiles for future users. RTLS and passive radio frequency identification (RFID) have the potential to radically alter the future workflow environment of all provider organizations, according to the analyst of this study. Though adoption for all organizations may still be several years away, RTLS continues to follow a hyper-growth pattern.
Several pilots and a few larger installations continue to prove the benefits of RTLS. This technology is rapidly advancing and as a result, larger technology partnerships are augmenting these efforts. RTLS has provided radical improvement and advancements to workflow and has resolved issues such as capacity and throughput beyond the ordinary scope of improvement.
Potential for Significant Workflow Enhancement and Return on Investment Boost Deployments of RTLS
Hospitals are increasingly seeking an RTLS solution to solve such issues as maximizing bed turnover times, locating assets, increasing throughput across the operating room (OR), managing ED volumes, and handling point-of-care materials across the hospital. Results from various studies and other pilot programs show that there is the potential to dramatically improve processes, such as decreasing length of stay by over 20 percent or improving bed turnover rates to less than 10 minutes. These areas tremendously affect the bottom line of hospitals and improve the care delivery potential of an organization. Therefore, RTLS is very important for those seeking to solve complex issues in their respective healthcare organization.
While the RTLS industry remains in its infancy, the development of a return on investment (ROI) continues to be high priority for several distributors. However, several examples of early ROI projects for equipment tracking have provided astounding results. With ROI potentials from some pilots resulting in more than 100/150 percent ROI in 12 months, the obvious benefits of equipment tracking are apparent, explains the analyst. Thus, this also predicates a market where the average buyer will significantly target this area for efficient ROI leading to scalable projects.
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