The Global Report Patient Engagement Technology Market is projected to reach USD 27.9 billion by 2027 from USD 17.3 billion in 2022, at a CAGR of 10.0%. Increasing adoption of patient engagement solutions, technological advancement, government initiatives, increased awareness, and rising benefits of implementing these technologies are significant factors driving the growth of this market.
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Selection of right patient engagement technology is critical for healthcare organizations/providers and is dependent on several factors such as accessibility and ease of use, data security, integration with value-based care programs, cost efficient software, integration capabilities, aligned functionality, and vendor reputation. The selection of a patient engagement technology must be made based on the objectives for implementation and organization’s strategic plan.
Browse in-depth TOC on “Patient Engagement Technology Market”
16 – Tables
9 – Figures
70 – Pages
The cost of patient engagement technology depends on number of parameters that determine the price of patient engagement technology. These factors are categorized into “Up-front Costs” and “On-going Costs.” The report delivers a generalized trend of pricing of patient engagement technology.
Scope of the Report:
This report provides a qualitative assessment of the patient engagement technology in terms of pricing, vendor replacement trends, factors affecting replacement trends, and selection criteria of adopting patient engagement technology from providers’ perspective.
- Force Field Analysis
- Driving Forces
- Restraining Forces
End-User Market Potential Analysis (Qualitative Assessment)
Hospitals Buying Behaviour Assessment: U.S. Patient Engagement Technology Market
- Purchase intention, by Hospital Size
- Purchase intention, by Role
- Use case of patient engagement technology (Physician Perspective)
- Use case of patient engagement technology (Patient Perspective)
Patient Engagement Technology Market: Pricing Analysis of Patient Engagement Technology
- Licensing fees
- Implementation fees
- Annual license maintenance fees
- Up-gradation and integration fees
- Consulting fees
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Accessibility and ease of use was given the highest priority over other factors majorly due to the technicality involved in these solutions and awareness created amongst patients. Users are willing to choose the patient engagement technology that includes the basic functionality and is easily accessible without any mental strain.
Data security concerns is the second selection criteria due to increasing data leaks, security breaches in the past years. Patient data is highly sensitive and must be protected from all security glitches. Organizations such as HIPAA (Health Insurance Portability and Accountability Act) and ORCHA (Organisation for the Review of Care and Health Apps) are working for safeguarding sensitive data by performing stringent quality checks on every patient engagement tools. Data security concerns raise the burden of purchasing these solutions.
Patient engagement solutions integrated with value-based care programs allow the physicians to concentrate more on value than volume-based care. Users ranked this criterion after data security. These programs rewards healthcare providers with incentive payments for the quality of care they provide to patients (under quality payment programs such as Medicare Access and CHIP Reauthorization Act). Such programs drive patients to switch to physicians using such technologies leading to the growth of this market.
The cost of patient engagement was indicated as an important criterion for selection by provides. A surge in patient engagement vendor has decreased the budgetary constraints of complex patient engagement solutions. Owing to this, even small-scale hospitals are willing to implement such technologies driving market growth.
Other factors, such as integration capabilities, aligned functionality, and vendor reputation also play a crucial role in the overall purchase mechanism of patient engagement. Vendors in the market need to focus on these factors to increase their customer base and establish a strong foothold in the market.
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