The rate of hospital admissions is increasing; however, the healthcare infrastructure is not growing at a similar pace, hence leading to overburdening and inadequate flow in the healthcare system. Flow is the part of a patient care pathway in which the movement of patients, information, or equipment flows between organization, departments, or staff. Inadequate patient flow management can lead to problems such as overcrowding in the emergency department, excessive waiting time, delayed surgeries in the operating room schedule, shortage of availability of ICUs and medical beds, overburdened staff, poor patient outcomes, and higher rate of complications. Healthcare providers are progressively adopting patient flow management solutions in order to manage patient flow, reduce burden on staff, and meet consumer expectations. Patient flow management solutions use real-time data inputs and combine them with analytical and statistical software in order to design efficient work flow. It helps to provide enhanced healthcare at reduced costs, and improving the flow of patients is one way of bettering healthcare services. Patient flow management solutions are used to improve the patient flow, and enhance the hospital efficiency in a bid to deliver premium healthcare services to the patients. It helps to optimize hospitals operations in real-time and reduce overcrowding, enhance patient experience, decrease the length of stay, accelerate patient movement, and provide actionable data for continuous improvement. It also helps the hospitals to better utilize their existing capacity. Patient flow management solution has become essential for the hospitals in order to streamline patient flow outcome and cost management.
North America dominates the global market for patient flow management solutions due to rise in funding and training initiatives in the U.S. and Canada, reduced healthcare costs, and advancements in technological innovation in the region. Asia is expected to show high growth rates in global patient flow management solution market in the next five years, with China and India being the fastest growing markets in the Asia-Pacific region. The key driving forces for the patient flow management solution market in developing countries include a large pool of patients, healthcare infrastructure, and rising government funding in the region.
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Adoption of a patient-centric approach by healthcare providers, reduced cost of hardware and software, shortage of doctors and nursing staff, need for cost limitation measures, increase in healthcare expenditure, demand for improved quality of care and focus on patient satisfaction, rising hospital admissions, growing awareness about healthcare, and the increasing number of initiatives by various governments and government associations for patient flow management are some key factors driving the market growth. However, factors such as lack of skilled professionals, need for huge investment, lack of inadequate infrastructure, and rising incidence of data security breaches are the major restraints to the growth of the global patient flow management solution market.
Increasing usage of smart phones and cloud-based models would help to develop opportunities for the global patient flow management solution market. Collaboration, partnerships, and new product launches are some of the ongoing trends for the growth of global patient flow management solution market. The major companies operating in the global patient flow management solution market include Teletracking Technologies, Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, Mckesson Corporation, Central Logic, Inc., Medworxx Solutions, Inc., Stanley Healthcare, Sonitor Technologies, Inc., Awarepoint Corporation, Care Logistics LLC, Intelligent Insites, Inc., and Epic Systems Corporation.