Global Patient Relationship Management Software Market Size, Trends, and Analysis- Forecasts To 2026 By Usage Mode (Smartphone and Hand-Held Device, PC and Laptop), By Product Type (Clinical Management Solutions, Homecare Solutions, Telehealth Solutions, Houspice Solutions, Others), By Delivery Mode (Cloud-Based Delivery, On-Premise Delivery, Web-Based Delivery), By End-User (Healthcare Providers, Healthcare Payers, Others), By Application (Medical Payment, Patient Education, Disease Management, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East & Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Patient Relationship Management Software Market: Insights
Patient relationship management (PRM) software, also recognized as the software for healthcare customer relationship management (CRM), maximizes and facilitates the entire journey of patient care, allows the effective flow of information within healthcare systems, and improves patient involvement. Increasing awareness of customized medicines among patients and a growing prevalence of chronic illnesses are expected to drive growth during the forecasted period. PRM software improves and organizes the data and features of the software and patient interaction software for electronic health records (EHRs). Over the coming years, the demand for PRM is expected to see tremendous growth, propelled by technological advancements in healthcare services around the world. Furthermore, the rising usage of IT tools by healthcare providers, along with supporting government initiatives and policies, is expected to increase the demand for patient relationship management software significantly from 2020 to 2026.
Patient Relationship Management Software Market: By Delivery Mode
As per the delivery mode outlook, the market is segmented into cloud-based delivery, on-premise delivery, and web-based delivery. In terms of revenue, the cloud-based delivery mode would be the largest market shareholder. With the cloud-based configuration, it is possible to access data from the various branches, departments, and locations. The use of patient relationship management software tools will gradually increase as research and development increases, which will boost the demand.
Patient Relationship Management Software Market: By Application
As per the application outlook, the segment of the market is divided into three segments namely; medical payment, patient education, and disease management, among others. The largest share of the market is contributed to by the disease management segment. This can be attributed to the minimal cost of treatment and elimination of incidents of ill health by comprehensive health screening management.
Patient Relationship Management Software Market: By Product
The market can be segregated into four segments, namely, clinical management solutions, homecare solutions, telehealth solutions, and houspice solutions, among others based on the type of product. In terms of revenue, care management technologies will be the largest market shareholder. This is due to the growing aging populations and the rising prevalence of chronic diseases. Developments in IT infrastructures and big data capabilities is another major reason for the growth of the market.
Patient Relationship Management Software Market: By End-User
The end-user sector can be split into three categories namely, healthcare providers, and healthcare payers, among others. Healthcare payers are projected to be the fastest-growing in the market. The payer segment includes insurance firms and government firms.
Patient Relationship Management Software Market: By Region
The region of North America is projected to boost market shareholders over the expected timespan from 2020 to 2026. Over the projected timeline, the growing emphasis on patient involvement and the support of the government is expected. The rising adoption of newer technologies will accelerate the development of the region's market growth. On the other hand, Asia Pacific will be the fastest-growing region due to the growth of healthcare companies and the growing awareness of patient relationship management software. The growing emphasis within the area of health care facilities and medical tourism is expected to promote market growth.
Patient Relationship Management Software Market: Share & Competitor Analysis
In this market, the key players competing are Bravepoint Inc, GSG Compliance, LLC, Light point Health Solutions, Nevada, Inc., Salesforce.com, Inc., Green Beacon Solutions, Inc., Innovative Billing Solutions, Inc., Microsoft Corporation, Innovaccer, Inc., Seagate Technology, and Transworld Systems, Inc., among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In November 2020, On Microsoft Azure, Innovaccer, Inc launched its patient relationship management solution. The solution streamlines patient communication with their care teams and doctors.
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The Global Patient Relationship Management Software Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Patient Relationship Management Software Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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