Patient Engagement Technology an Innovative Tool for Healthcare Industry, End User Market Trends and Analysis - (Pricing, Replacement Trends, Selection Criteria, and Buying Behavior)

  • ID: 3624684
  • Report
  • Region: United States
  • 53 Pages
  • Markets and Markets
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Patient Engagement Technology is Increasingly Being Adopted by Healthcare Providers, Payers, and Patients Across the Globe, Particularly in the U.S

FEATURED COMPANIES

  • Cerner Corporation
  • GetWellNetwork, Inc.
  • iTriage, LLC
  • MORE
“Patient engagement technology- An innovative tool for healthcare industry, end user market trends and analysis- [Pricing, Replacement Trends, Selection Criteria, and Buying Behavior]”

Extensive research on the patient engagement technology market has brought to light that when patients are engaged in their health care, it leads to measurable improvements in hospital safety and quality of care. Active patient engagement is a pre-requisite to better healthcare delivery. Considering the on-going and rapid change occurring in the health care industry, hospitals are focusing on various ways to engage their patients so as to improve the care delivery process while reducing cost. Aligned with this trend, healthcare providers, payers and patients are increasingly adopting patient engagement technology that provides benefits to them as well as their patients and customers.

Below is the list of some of the benefits of Patient Engagement Technology:
BENEFITS TO CLINICS AND HOSPITALS (PROVIDERS)/PAYERS
? Increased patient satisfaction and experience
? Improved clinical outcomes and quality of care
? More timely appointments and reduced rate of no-shows
? Meet Meaningful Use (MU) criteria
? Reduction in hospital readmission rates
? Increased patient outreach
? Reduce overall cost
BENEFITS TO PATIENTS
? Easy access to health information– Patients can access medical information anytime, anywhere through patient engagement technology or platform
? Easy communication between patent and provider – e-visits and secure messaging help patients communicate with providers using their mobile devices.
? Monitor treatment progress effortlessly – Patients can view and share their medical records and receive test results on their mobile devices
? Increased adherence to prescribed medical treatments - Alerts and reminders help patient stick to their schedules and take medications regularly

Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market. Insights cited in the report will help these firms to stay competitive in the market and garner a greater market share. It will enlighten the stakeholders about the benefits of embracing patient engagement technology. The study analyzes the total economic impact (TEI) of patient engagement technology on organizations and highlights the enabling value of a technology in increasing the effectiveness of overall business processes.
Firms purchasing the report could use the below-mentioned information for strategy development, market penetration, product development/innovation and for strengthening respective market shares.

The report provides insights on the following pointers:
- Pricing assessment: This section provides comprehensive information on pricing of patient engagement technology with breakdown into various cost components such as licensing fees, implementation fees, annual license maintenance fees, up-gradation and integration fees, and consulting fees
- Hospitals buying behavior assessment: This section provides insights on the adoption trend of patient engagement technology in hospital setting. The section analyses hospitals buying behavior taking into account the size of the hospital and considering the role of key stakeholders in the hospital
- End-user market potential analysis: This section dissects the potential of various end-user segments and provides insights to stakeholders as to which end-user segments are most lucrative for investment
- Vendor replacement trends: This section provides exhaustive information on vendor replacement trends for patient engagement technology
- Role of mobile in patient engagement: This section provides detailed information on current implementation status (2015) of mobile technology used for patient engagement against various applications
- Selection criteria for patient engagement technology (provider perspective): This section provides in-depth assessment of critical factors that providers perceive as most important or less important while purchasing a patient engagement technology
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Cerner Corporation
  • GetWellNetwork, Inc.
  • iTriage, LLC
  • MORE
1. Introduction
  • Market Definition
  • Rationale for Adoption of Patient Engagement Solutions
  • Benefits to Clinics and Hospitals (Providers)/Payers
  • Benefits to Patients
2. Research Methodology
  • Research Methodology Steps
  • Data Triangulation Methodology
  • Primary Research- Sampling Frame
3. Executive Summary

4. Force Field Analysis
  • Driving Forces
  • - Awareness Amongst Patients About Pes
  • - Benefits to Patients
  • - Ease of Use
  • Restraining Forces
  • - Requirement of Healthcare Information Technology (HCIT) Infrastructure
  • - Reluctance of Patients
  • - Health Information Safety Concerns
5. End-User Market Potential Analysis (Qualitative Assessment)

6. Hospitals Buying Behaviour Assessment: U.S. Patient Engagement Solutions Market
  • Introduction
  • Purchase Intention, By Hospital Size
  • Purchase Intention, By Role
7. Pricing Analysis of Patient Engagement Solutions
  • Introduction
  • Licensing Fees
  • Implementation Fees
  • Annual License Maintenance Fees
  • Up-Gradation and Integration Fees
  • Consulting Fees
8. Patient Engagement Solutions Replacement Trends (Qualitative Assessment)
  • Role of Mobile in Patient Engagement
  • Importance of Mobile in Patient Engagement Market
  • Implementation Status of Mobile Health Solutions
  • (Appointments, Immunization, and Screening Reminders, Health Promotion and Education, Personal Health Information Access)
9. Selection Criteria for Patient Engagement Solutions (Provider Perspective)
  • Introduction
  • Cost of Patient Engagement Solution
  • Integration Capabilities
  • Vendor Reputation
  • Accessibility and Ease of Use
  • Aligned Functionality
  • Security
List of Figures (10 Figures)

Figure 1: Data Triangulation Methodology
Figure 2: Author Know
Figure 3: Force Field Analysis
Figure 4: End-User Market Potential Analysis (2014-2019)
Figure 5: Purchase Intention, By Hospital Size (2016)
Figure 6: Purchase Intention, By Role (2016)
Figure 7: Patient Engagement Solutions: Cost Components
Figure 8: Replacement Trends
Figure 9: Implementation Status of Mobile Health Solutions for Patient Engagement (2015)
Figure 10: Selection Criteria
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Cerner Corporation
  • GetWellNetwork, Inc.
  • iTriage, LLC
  • MORE
Patient engagement technology is increasingly being adopted by healthcare providers, payers, and patients across the globe, particularly in the U.S. This report provides qualitative assessment of the patient engagement technologies in terms of pricing, vendor replacement trends, and selection criteria of adopting patient engagement technologies from provider perspective.

The market is expected to grow rapidly as the healthcare industry witnesses a shift to a value-based reimbursement system from the traditional volume-based fee for reimbursement system. Adoption of patient engagement technology enables the healthcare industry to reduce costs while improving the quality of healthcare.

The technology also provides positive returns on investment. Furthermore, legislative reforms of the Affordable Care Act (ACA) in the U.S., government incentives, and rising aging population has stimulated the adoption of patient engagement technologies in the healthcare industry. However, in spite of numerous benefits, certain barriers such as huge investments requirement, fragmented end-user market, and security of patient data are restraining the growth of this market.

The pricing of patient engagement technology depends on number of parameters that determine the cost of patient engagement technologies. These factors are categorized into “Up-front Cost” and “On-going Costs”. The report provides a generalized trend of pricing of patient engagement technologies.

Mobile health technologies have also emerged as potentially powerful tools to engage patients in health care. Mobile health technology can strengthen care delivery process by improving providers’ capacity to reach vulnerable populations and actively engage them in their care. Most of the healthcare organizations are providing mobile health technology to their patient.

As the market is patient driven; favourable patient experience plays a critical role in successful patient engagement. However, majority of patient engagement technology fail to deliver a positive patient experience and there have been numerous complaints from patient population regarding the same, which in turn has triggered providers to replace their current vendors. Thus, replacement market for patient engagement technologies offers significant opportunity for vendors in the market due to poor usability of current patient engagement technologies.

The selection of a patient engagement technology must be made based on the organization’s strategic plan and objectives for implementation. Goals and desired outcomes of patient engagement technologies will vary among organizations, from meeting the Meaningful Use incentive to increasing patient engagement. The report enlightens the vendors offering patient engagement technologies about the critical factors that providers perceive as most important and which factors are relatively less important from them.

Exteneded Description

"Patient engagement technology - An innovative tool for healthcare industry, end user market trends and analysis- (Pricing, Replacement Trends, Selection Criteria, and Buying Behavior)"

Extensive research on the patient engagement technology market has brought to light that when patients are engaged in their health care, it leads to measurable improvements in hospital safety and quality of care. Active patient engagement is a pre-requisite to better healthcare delivery.

Considering the on-going and rapid change occurring in the health care industry, hospitals are focusing on various ways to engage their patients so as to improve the care delivery process while reducing cost. Aligned with this trend, healthcare providers, payers and patients are increasingly adopting patient engagement technology that provides benefits to them as well as their patients and customers.

Below is the list of some of the benefits of Patient Engagement Technology:

Benefits to Clinics and Hospitals (Providers)/Payers

- Increased patient satisfaction and experience
- Improved clinical outcomes and quality of care
- More timely appointments and reduced rate of no-shows
- Meet Meaningful Use (MU) criteria
- Reduction in hospital readmission rates
- Increased patient outreach
- Reduce overall cost

Benefits to Patients

- Easy access to health information - Patients can access medical information anytime, anywhere through patient engagement technology or platform

- Easy communication between patent and provider - e-visits and secure messaging help patients communicate with providers using their mobile devices

- Monitor treatment progress effortlessly - Patients can view and share their medical records and receive test results on their mobile devices

- Increased adherence to prescribed medical treatments - Alerts and reminders help patient stick to their schedules and take medications regularly

Reasons to Buy the Report:

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market. Insights cited in the report will help these firms to stay competitive in the market and garner a greater market share. It will enlighten the stakeholders about the benefits of embracing patient engagement technology.

The study analyzes the total economic impact (TEI) of patient engagement technology on organizations and highlights the enabling value of a technology in increasing the effectiveness of overall business processes.

Firms purchasing the report could use the below-mentioned information for strategy development, market penetration, product development/innovation and for strengthening respective market shares.

The report provides insights on the following pointers:

- Pricing assessment: This section provides comprehensive information on pricing of patient engagement technology with breakdown into various cost components such as licensing fees, implementation fees, annual license maintenance fees, up-gradation and integration fees, and consulting fees

- Hospitals buying behavior assessment: This section provides insights on the adoption trend of patient engagement technology in hospital setting. The section analyses hospitals buying behavior taking into account the size of the hospital and considering the role of key stakeholders in the hospital

- End-user market potential analysis: This section dissects the potential of various end-user segments and provides insights to stakeholders as to which end-user segments are most lucrative for investment

- Vendor replacement trends: This section provides exhaustive information on vendor replacement trends for patient engagement technology

- Role of mobile in patient engagement: This section provides detailed information on current implementation status (2015) of mobile technology used for patient engagement against various applications

- Selection criteria for patient engagement technology (provider perspective): This section provides in-depth assessment of critical factors that providers perceive as most important or less important while purchasing a patient engagement technology
Note: Product cover images may vary from those shown
5 of 4
- Cerner Corporation
- GetWellNetwork, Inc.
- iTriage, LLC
Note: Product cover images may vary from those shown
6 of 4
Note: Product cover images may vary from those shown
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