Home Healthcare Software and Services Market worth $6.4 Billion by 2018

DALLAS, May 13, 2014 /PRNewswire/ --

According to new market research report "Home Healthcare Software - Product & Service Market - Application (Clinical, Non - Clinical), Usage (Laptop, Smartphone), Product (Agency, Clinical Management System, Telehealth, Hospice), Delivery (Web - Based, On - Premises, Cloud), End User - Global Forecast to 2018" published by MarketsandMarkets, The global Home Healthcare Software Market is estimated to reach $6.4 Billion by 2018, at a CAGR of 13.4% between 2013 and 2018..

Browse 81 market data Tables 33 Figures spread through 230 Pages and in-depth TOC on "Home Healthcare Software - Product & Service Market".

http://www.marketsandmarkets.com/Market-Reports/home-health-software-market-818.html

Early buyers will receive 10% customization on this report.

The global home healthcare software and services market crossed $3.4 Billion in 2013 and is poised to grow at a high double-digit CAGR from 2013 to 2018.

The market is segmented based on products, applications, delivery modes, components, usage mode, and end user. Based on products, the global home healthcare software and services market is further segmented into agency solutions, hospice solutions, telehealth solutions, and clinical management system (CMS) solutions. Of all, clinical management system (CMS) and telehealth solutions will be the fastest-growing market in the next five years.CMS is an integrated package of various applications such as homecare-EMR, CPOE, CDSS, electronic point of care documentation (485 plan, OASIS), alert management module, physician's portal module, medication management, among others. The rising demand for such integrated package of CMS will drive this market as it allows instant access to huge volumes of patient data with a single click, thereby saving time and costs. Other factors accelerating the growth of this market are the presence of government initiatives to promote clinical IT solutions, growing pressure to curtail healthcare costs, and rising demand for quality care.

By application, homecare software market is divided into clinical and non-clinical. The clinical segment comprises of homecare-EMR, medication management, electronic point-of-care documentation, and others including physicians portal. On the other side, non-clinical homecare software is segmented into billing and scheduling, homecare-CRM, accounting, payroll, and others. Non-clinical applications accounted for the largest share of the global home healthcare software and services market in 2013 and clinical applications are estimated to grow at a higher CAGR from 2013 to 2018.Various benefits while implementing these applications, such as real time data accessibility, patient scheduling, referral management, prompt recommendation at the point-of-care, and improvements in quality care at low costs, will spur the market growth. Further, the use of homecare software will result in lower documentation time and enhance communication that saves both cost and time.

The three most important delivery modes considered for the study are web-based, on-premises, and cloud computing. Owing to the growing need to meet the requirement of enhanced security and accessibility, the cloud computing mode of delivery is expected to grow at a briskpace in the forecast period (2013-2018).Furthermore, cloud computing also reduces the burden on healthcare systems, as the need for an IT staff and cost on hardware development can be eliminated.

Geographic analysis reveals that North America was the largest contributor to the global home healthcare software market in 2013 and will be the second fastest growing region for home healthcare software market till 2018. Factors driving the North American market are the growing demands for integrated solutions, firm support from the U.S. federal government, Obama's new budget plan regarding reimbursement cut by 1.1% per year to home care agency that enforce them to adopt homecare IT solutions, growth in aging population, growing healthcare cost, and growth in patient consumerism for quality care.

Globally, the Home Healthcare Software and Services Market will be driven by the growing pressure to reduce healthcare costs, growing patient consumerism for quality care, shortage of nursing and staff, government support and healthcare reforms, and hospital readmission reduction program by U.S. Affordable Care Act. The major bottlenecks for the growth of this market are the growing concerns over security, interoperability, integration challenges, costs incurred while integrating, problems in implementing homecare solutions, incomplete or poor quality of data entry, and poor IT skills among homecare staff. Cloud based delivery mode, telehealth solutions, and mobile technology offer huge growth opportunities for home care software and services vendors, globally.

The key players in the market are Agfa Healthcare (Belgium), Allscripts Healthcare Solutions, Inc. (U.S.), athenahealth, Inc. (U.S.), Cerner Corporation (U.S.), Carestream Health, Inc. (U.S.), Epic (U.S.)., GE Healthcare (U.K.),McKesson Corporation (U.S.), MEDITECH (U.S.), NextGen Healthcare Information System LLC (U.S.), Novarad Corporation (U.S.),and Siemens Healthcare (Germany)

Browse related reports 

Healthcare IT Market By Application [Provider IT (EMR, PACS, CPOE, RIS, CDSS, RCM, Claims Management, Payroll), Payer IT (CRM, Fraud Detection)], Delivery Mode (On-Premises, Web-Based Services & Cloud Computing) & Component - Global Forecasts to 2017

http://www.marketsandmarkets.com/Market-Reports/healthcare-it-252.html

Home Healthcare Market (Equipment, Service & Telehealth/Telemedicine) Current Trends, Opportunities & Global Forecasts to 2016

http://www.marketsandmarkets.com/Market-Reports/home-healthcare-equipment-market-696.html

About MarketsandMarkets  

MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.

MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, healthcare IT semiconductor and electronics, and telecommunications and IT.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
North - Dominion Plaza,
17304, Preston Road,
Suite 800, Dallas, TX 75252
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit MarketsandMarkets Blog @ http://mnmblog.org/market-research/healthcare/healthcareit
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets