Patient Engagement Solutions Market SWOT analysis & Key Business Strategies by key players 2021

Patient engagement solutions help patients manage their healthcare information and allows for greater interataction of the medical team with the patients. It is essential for to provide the necessary tools to actively engage in the management of their own health. Better access to healthcare providers and personal healthcare information helps patients to assists effective self-care. Cost-effective healthcare, increased patient outreach, fewer complications, lower hospital readmission rates, shorter hospitalization periods, and improved quality of health care are some of the benefits associated with patient engagement solutions. It shares information and communication to support patient and to improve workflow efficiencies. Moreover, it helps to reduce administrative costs. Patient engagement solutions enhance patient-provider communication and keeps both the patient and care team up to date about the individual health data. Healthcare organizations must improve quality and efficiency with few resources with the help of the solution. It assists physicians in providing better diagnosis and more coordinated care by recording information about patients’ healthcare and also allows for the sharing of clinical summaries among care teams. There is growing interest among patients to track theirpersonal health by accessing electronic health records. Moreover, the growing trend of mobile health applications and wearable health data trackers are influencing consumers to access their personal healthcare records, in turn, increasing demand for patient engagement solutions.

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North America dominates the global market for patient engagement solutions due to rising chronic diseases, regulatory mandates by Affordable Care Act, increasing demand for quality care, rising healthcare costs, and rise in geriatric population in the region. Asia is expected to show high growth rates over the next five years in the global patient engagement solutions market. China and India are anticipated to be the fastest growing markets in the Asia-Pacific region. The key driving forces for the market in developing countries are the large pool of patients, increasing awareness about diseases, rising healthcare costs, improving healthcare infrastructure, increasing healthcare information technology adoption, and growth of medical tourism in these regions.

Implementation of Affordable Care Act, increasing popularity of mobile health applications, rise in number of accountable care organizations, rise in geriatric population, increasing prevalence of chronic diseases, rise in number of accountable care organizations, federal mandate encouraging the use of patient engagement solutions among stake holders, increase in healthcare expenditure, demand for good quality of care, enhanced worker productivity, incentives by various governments for the adoption of patient engagement, and advanced information technology and large data capabilities are some of the key factors driving the growth of the global patient engagement solutions market. However, lack of skilled analysts, subpar infrastructure, requirement for infrastructural investments, lack of health literacy in large portion of population, poor access to healthcare, lack of security of patient data and health information safety concerns are major restraints on the growth of the global patient engagement solutions market.

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Cloud-based models of patient engagement solutions and increasing medical tourism are expected to help develop opportunities for the global patient engagement solutions market in the future. Major companies operating in the global patient engagement solution market are

Medecision
Orion Health group of companies
Emmi Solutions
Allscripts Healthcare Solutions
Mckesson Corporation
Aetna
Cerner Corporation
athenahealth
GetWellNetwork

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