On-demand reporting critical for real-time decision making
Healthcare consists of a diverse set of private and public data collection such as administrative enrolment, health surveys, and medical records utilised by a number of entities including hospitals, health plans and physicians. Businesses have a continuous need for integrating data across the entire organisation. Businesses need to acquire intelligence from the information provided or delivered in real time. The Europe hospital capacity management solutions market provides ample opportunities to improve health safety by creating highly efficient software where data input is simplified and easily available for reporting and making decisions in real time.
Reducing waiting time in the emergency department is a key driver
Products in the Europe hospital capacity management solutions market analyse and predict bed occupancy in the emergency department and can reduce waiting time by a significant 35%, rising all the way up to 50%. In addition, these solutions provide a real-time visibility of patient location and status thereby improving care delivery, ensuring prompt communication between the hospital staff and the patient’s family. Real time location system (RTLS) is an immensely beneficial tool that optimises resource use by tracking both patients along with assets. RTLS solutions locate and assign the nearest and best suited caregiver to each patient and eliminate resource and time wastage almost entirely.
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Real Time Locating System (RTLS) to record a CAGR of 5.6% over the course of the forecast period
The value of the Real Time Locating System segment in the Europe hospital capacity management solutions market is anticipated to be worth slightly more than US$ 92 Mn in the year 2017. A rising number of patients undergoing surgery, high hospital bed occupancy, and improved efficiency of hospital capacity management solutions are some of the factors that are anticipated to contribute to higher growth in the Europe hospital capacity management solutions market for the decadal study. The Real Time Locating System segment is projected to show steady growth all through the forecast period in the Europe hospital capacity management solutions market. This segment is expected to gain a massive 165 BPS during the 10-year study and should almost touch US$ 160 Mn in terms of value by 2027. The Real Time Locating System segment is expected to create absolute $ opportunity of US$ 4.58 Mn in 2018 over 2017.
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Workflow Management Solutions segment poised to grow at a slower CAGR than the Real Time Locating System segment
The Workflow Management Solutions segment is anticipated to be worth just under US$ 35 Mn in the year 2017 and rise to more than US$ 56 Mn by the end of the forecast period, recording a CAGR of 4.9% in terms of value. The penetration of hospital capacity management solutions has been growing rapidly as these solutions are able to dramatically improve results by increasing revenue, reducing patient hospital stay, increasing hospital bed turnover and maximising hospital resource efficiency. The Workflow Management Solutions segment is expected to create absolute $ opportunity of US$ 1.56 Mn in 2018 over 2017. This segment is projected to lose 20 BPS over the duration of the study period. Revenue from the Workflow Management Solutions segment in the Europe hospital capacity management solutions market is expected to grow 1.6x by 2027 end as compared to that in 2017.