Long-term Care Software Market to Flourish with an Impressive CAGR of nearly 12.2% in the year (2019-2023), Predicts Market Research Future Including – Analysis According to Key Vendors, Product Type, Major Application, Key Regions

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The Long-term Care Software Market 2019-2023 with CAGR of nearly 12.2% Research Report focuses on global Long-term Care Software status, growth, Trends, opportunity, and key players.

Global Long-term Care Software Market 2019 has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Long-term Care Software market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The study specifies the complete estimate of Global Long-term Care Software market business terms, in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region. 

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The various contributors involved in the value chain of Long-term Care Software include manufacturers, suppliers, distributors, intermediaries, and customers.

The Key Players covered in this study:-

  • Allscripts Healthcare Solutions
  • Cerner Corporation
  • Matrix Care
  • Mckesson Corporation
  • Omnicare
  • Inc
  • Omnicell
  • Optimus Emr
  • Pointclickcare
  • Sigmacare among others.

    Overview of Long-term Care Software Market Research Report 2019-2023:-

    The Global Long-term Care Software Market is expected to register a CAGR of nearly 12.2% during 2018-2023 (the forecast period). Long-term Care Software refers to software services that include electronic medical records, e-prescribing, medication management, patient monitoring, remote training etc. that enhance business operations needs, patient experience and outcomes.

    Healthcare Reforms And Government Initiatives

    The Health Information Technology for Economic and Clinical Health Act (HITECH) improves health care quality, safety, and efficiency including electronic health records (EHRs) and a private and secure electronic health information exchange. This type of information exchange is vital in proper disease management by timely alerting clinicians. In 2010 the Drug Enforcement Agency (DEA) implemented the E-Prescriptions for Controlled Substances (EPCS) to reduce errors, speed up the medication reconciliation process, track fulfillment of Prescriptions, and increase adherence to medications etc.
    Effectively from January 1, 2018, US practitioners receive roughly USD 60.00 for remote patient monitoring (RPM), that involves accessing, reviewing, interpreting, and acting on various physiological data for at least 30 minutes over a 30-day period. RPM is a cost-effective method that reduces patient readmission and emergency department (ED) visits in case of chronic diseases. Medicare pays for Home Healthcare provided by agencies during episode of care (60 days) period that includes skilled nursing care (giving injections, tube feeding, wound dressing), Physical therapy, occupational therapy, and Counseling for emotional concerns. All the above will utilize the software platform or application for enhancing the patient health outcomes may contribute to the growth of the long term care software market. Other factors which are driving the Long-term Care Software Market growth are rise in aging population and shortage of nursing staff and doctors.

    High Software Investment and Maintenance Costs

    Software maintenance costs involve issues related to functionality enhancements and version upgrades, fixing bugs, correcting deployment challenges, correcting faults, and improvement of attributes. Small hospitals and clinics prefer to outsource to an IT services firm for maintenance of EHR system. There is upfront investment cost and post implementation maintenance costs.
    Healthcare providers face challenge in selecting the EHR as it involves high cost. The upfront cost of cloud EHR and On-premise EHR is around USD 26,000 and USD 33000 approximately with a yearly cost of USD 8,000 and USD 4,000 respectively. There is also an uncertainty on Implementation cost, projected maintenance cost, consulting and training fees. Upon choosing an on-premise model, care providers should manage all the back-office technology involving data backup, data storage and servers. All the above may hinder the growth of the long term care software market. Other factors which are restraining the Long-term Care Software Market growth are unwillingness of the traditional long-term care providers to adopt software.

    US Lead the Market in North America Region

    The United States long term care market will continue to grow on account of EMR, e-prescribing, medication management, clinical decision support systems, remote patient monitoring systems and remote training etc. The Drug Enforcement Administration (DEA) allowed practitioners to write prescriptions for controlled substances electronically. This allows reduction in prescription errors caused by illegible handwritten prescriptions. The government initiative policies that are supportive for the adoption of care management services are propelling long-term care market in United States.

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    Reasons to Purchase the Long-Term Care Software Market Report

  • Current and future Global Long-Term Care Software Market outlook in the developed and emerging markets
  • Analysis of various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

    WHAT DO WE PROVIDE IN THIS REPORT

    • Long-term Care Software market along with Report Research Design:
    • Long-term Care Software Market Historic Data (2013-2019):
    • Industry Trends: Global Revenue, Status, and Outlook.
    • Competitive Landscape: By Manufacturers, Development Trends.
    • Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
    • Market Segment: By Types, By Applications, By Regions/ Geography.
    • Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
    • Long-term Care Software Market Influencing Factors:
    • Market Environment: Government Policies, Technological Changes, Market Risks.
    • Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
    • Long-term Care Software Market Forecast (2019-2023):
    • Market Size Forecast: Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
    • Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price

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    This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Long-term Care Software market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares split, and breakdowns have been determined using secondary sources and verified primary sources.

    “We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

    The report contains detailed information about the following points:

    Long-term Care Software Industry Overview: Definitions, applications, classification and other basic information about the industry is covered in this part. Chain structure of the industry is given along with an analysis of various policies and news. Development of the industry is assessed with the information about the status of the industry in various regions.

    Production Analysis: Capacity and production are analyzed for various types, regions, and manufacturers. In addition, revenue analysis for Long-term Care Software market is given with respect to these three aspects.

    Methodological Data: Assembling process for the Long-term Care Software is contemplated in this area. The investigation covers crude material providers, gear providers, material cost, hardware cost, work cost, and different expenses. Limit and creation of different assembling plants, their circulation, and R&D status are additionally given.

    Source and Consumption analysis: The supply, including import and fare, is examined and supply-utilization hole is clarified in the report. Import/send out figures are given for singular district including USA, Europe, Japan, and China.

    Price, Cost, and Gross Analysis: Regarding regions, Long-term Care Software industry producers and sorts, cost and cost are dissected. In continuation, gross and gross edge are talked about.

    Long-term Care Software Market Competition: organization profiles, item portfolios, limit, value, cost, gross and income of every one of the Long-term Care Software business key players are given. Likewise, contact quantities of these organizations are given.

    Sale and Consumption Analysis: Long-term Care Software market utilization volume and esteem, both are given in the report by applications, sorts, and locales. Deal value investigation and Long-term Care Software piece of the pie in light of that is additionally included.

    Addition Information: Contact data of raw material providers, hardware providers, Long-term Care Software showcase significant customers are given. For a new venture, a practicality examination is given.

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