Patient Intake Software Market size is Expected to grow at higher CAGR 14.2% Over the Forecast Period.
The patient intake software is used by hospitals, clinics, and the patients to deliver quick and efficient services to the patients by reducing their waiting time. It is a part of the EHR software that maintains the patient records for further utility. It aims to reduce the written errors caused due to the inability to decipher the patient’s history. Additionally, its easy online integration enables faster processing of the insurance policies, thus benefitting the patients. Furthermore, it’s the Health Insurance Portability and Accountability Act (HIPAA) compliance that provides adherence to privacy standards and increased security.
Technological advancements in the healthcare sector have led to the rapid adoption of diversified software that has eased the administrative work and increased the efficiency of the hospitals. An article named ‘Hospitals’ Use of Electronic Health Records Data, 2015-2017’ published by The Office of the National Coordinator for Health and Information Technology, states that as of 2017, more than 94 percent of the hospitals of United States use the Electronic Health Record (EHR) data for the regular hospital administrative and clinical processes thus improving the diagnostics due to easy access of the patient's data. Additionally, as per the India Brand Equity Foundation - Ministry of Commerce & Industry, Government of India, in August 2019, Microsoft India joined forces with Apollo Hospitals Group to set up a National Clinical Coordination Committee for AI-powered cardiovascular disease risk score API. Such agreements with the tech-giants have flourished the healthcare IT market and paved the way for greater incorporation of the software applications in the hospitals to keep up with the technology, thus accelerating the market growth.
The discrepancy in the information provided by the patients about their medical records can prove to be precarious. The aim of the software to keep the data such as medical records, insurance availability, designated doctors, and the expected treatment ready before the visit of the patient to efficiently manage, and reduce the waiting time of the patient can go in vain due to disparity in the data. As per an article posted by Kaiser Family Foundation named ‘Death By 1,000 Clicks: Where Electronic Health Records Went Wrong’, there was a mistake in the EHR in one out of five people, and more than half of the patients surveyed have incorrect medical histories. It also stated there was a significant rise seen in the safety-related incidents that were linked to the EHR in the past decade. The rising mishaps due to decreased diligence in the medical health records have ingrained uncertainty, thereby restraining the market growth.
outpatients.
North America dominates the patient intake software market and will continue to do the same on account of its higher adaptability rate of technology, and the presence of a large number of key players such as AdvancedMD, DrChrono, NextGen Healthcare, Kareo, Bizmatics, CareCloud Charts, and Aprima, among others. The U.S. healthcare facility is one of the best healthcare facilities in the world. The utilization of technology in all steps of has reduced the mortality rate by various diseases. For instance, the American Cancer Society states that there was a 27% significant drop in cancer death rates in the past 25 years. Additionally, the adoption of software technology such as EHR, EMR, telehealth, medical billing software, and patent intake software, among others, has eased administrative operations, thus reducing further fatal consequences. Furthermore, the increase in outpatient visits in the country has led to the adoption of the software to improve patient satisfaction. For instance, as per Statista, there was a 35.8 million rise in the number of outpatient visits from 2015 to 2017.
| Study Period | 2020-2032 | CAGR | 14.2% |
| Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
| Base Year | 2023 | Base Year Market Size | USD XX Billion |
| Forecast Year | 2032 | Forecast Year Market Size | USD XX Billion |
| Largest Market | Asia pacific | Fastest Growing Market | North America |
Europe is accounted for the second-largest market share of the patient intake software due to advance medical facilities and publicly-funded systems that have projected Healthcare IT in the region. The National Health Services (NHS) had planned to go paperless in the year 2013, but due to insufficient facilities, and improper infrastructure, their vision envisaged to the year 2020. As per Health Europa - Pan European Networks Ltd, in January 2019, one out of 10 NHS trusts were entirely digitized. Thus the rising initiatives of the public-funded systems along with the government have rapidly increased the use of software applications in hospitals. Further, the survey conducted by HIMSS Analytics states that maintenance of patent health records, as well as patient health monitoring, are among the top trends eHealth trends in the upcoming years. Thus a rapid growth in the patient intake software market is expected in the European region.
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By deployment type, the cloud segment dominates the market and is presumed to grow with a higher annual rate owing to a greater deployment on all the software developed by the key players. Higher adoption of the cloud-based software is seen attributing to its low cost, easy deployment, and secure transactions. The rising number of partnerships of these companies with the cloud computing technology, for instance, the partnership pf NTT Data with google cloud aimed to develop Next-Gen Healthcare solutions to improve the overall patient experience by providing cost-effective health plans and increased efficiency in operations.
There is a larger deployment seen in the hospitals than the clinics. The dominance of the hospital's segment is owed to its multi-specialty aspect as it easily integrates the departments. The main aim of the software to reduce the waiting time for the processes is broadly satisfied by the hospitals as almost all the processes, such as various test centers, check-up centers, admission rooms, and OPD’s among others, are available at a single destination. On the other hand, the clinic's segment caters to a smaller market share owing to the limited operations provided. As per the Here, the patient intake software is mainly used for the easy maintenance of the data of the numerous
The novel 2019 coronavirus has led to the temporary halt of business operations around the world. Therefore, SMEs, along with some large enterprises, have adopted the path of lending loans to sustain business operations. Consumer lending institutions are playing a vital role in response to the coronavirus outbreak. As economic hardship is intensifying, market players are exploring opportunities by introducing new developments through organic growth and diversification.
Financial institutions are under immense pressure due to regulatory frameworks. Many are likely to introduce business continuity plans to address the fast-moving and unknown variables of the pandemic. Loan originators are expected to help customers who work in hospitality and other service industries with mortgages, auto loans, commercial loans, and credit cards to secure customers’ future and build employee relationships.
Advanced technologies, such as AI, blockchain, and machine learning, incorporated in loan origination and monitoring software, are expected to steer companies and financial institutions toward their short-term and long-term goals.
