Hospital Workforce Management Market expected to drive growth through 2027 made by top research firm
VALLEY COTTAGE, N.Y. – Healthcare workforce management systems provide solutions to manage and maintain the productive workforce in healthcare organizations. These solutions includes, software and services for the workforce management, cost management and employee engagement. It also offers benefits such as reduction of labor cost and provide workplace rules. Several healthcare institutes and organizations are using workforce management solutions to overcome management issues. Additionally, optimization of staffing resources through workforce management technology allows healthcare organizations to alter scheduling from a task performed by clinicians to one that can be efficiently handled by administrative personnel. Hospitals gain cost-saving efficiencies, and physicians gain more time to spend with their patients as a result.
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Hospital Workforce Management Market: Drivers and Restraints
Increasing demand for workforce management solutions in the healthcare industry augmented the growth of the global healthcare workforce management systems market. In addition, increasing geriatric population and growing expenditure for healthcare IT solutions promotes healthcare service providers to adopt hospital workforce management solutions. According to WHO, by 2050, global geriatric population is expected to reach 2 billion from 524 million in 2010. This trend is expected be seen in the U.S., U.K., and Japan, which would drive the market growth. Moreover, increasing number of regulatory reforms in healthcare sector is expected to increasing the adoption of workforce management solution by healthcare organizations. On the other hand, issues related to data security, high cost associated with software, services and cloud management might hamper the market growth to some extent.
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Hospital Workforce Management Market: Segmentation
Global hospital workforce management market has been segmented on the basis of product type, services, mode of delivery and geography.
Based on product type, the global hospital workforce management market is divided into following
- Standalone Software
- Time and Attendance
- HR and Payroll
- Talent Management
- Integrated Software
Based on service, the global hospital workforce management market is divided into following:
- Implementation Services
- Support and Maintenance
- Optimization Services
- Training/Education Services
Based on mode of delivery, the global hospital workforce management market is divided into following
Hospital Workforce Management Market: Overview
The global market for hospital workforce management is highly consolidated and very few number of big players constitute 75% the entire market, which includes IBM, Mckesson Corporation and Atoss Software. On the other hand, increasing new entrants in this market is expected to create intense competition in coming years. New entrants are coming with innovative hospital workforce management solution to reduce the existing challenges and address the unmet needs in the market.
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Hospital Workforce Management Market: Regional Outlook
Geographically, hospital workforce management market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is expected to dominate global hospital workforce management market over the forecast period. Europe is expected to be the second largest market for hospital workforce management. Shortage of nurses, aging workforces, declining reimbursement and escalating cost of patient care and management are few of the prime factors responsible for the growth of North America hospital workforce management market. Asia-Pacific is expected to be the fastest growing region in hospital workforce management market owing to growing trend of medical tourism, increasing awareness and developing economic condition of Asian countries, high unmet medical needs and growing adoption of healthcare IT solutions.
Hospital Workforce Management Market: Key Players
Some of the players operating in global hospital workforce management market are Mckesson Corporation GE Healthcare, Kronos, Inc. SAP AG, Infor, Inc., Automatic Data Processing, Inc., Atoss Software, IBM Corporation, Cornerstone Ondemand, Inc. and Ultimate Software Group, Inc. among others.
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