Global Hospital Capacity Management Solutions Market is set to witness a healthy growth rate of 18%

Hospital capacity management includes software and services offered by players that empower hospital executives, administrators and clinical staff with real-time hospital capacity planning and asset tracking.

The rising burden of diseases, a corresponding rise in patient volumes, the need for better capacity management in hospitals, growing adoption fueled by benefits offered by hospital capacity management solutions, the introduction of IoT-enabled devices and technologically advanced hospital capacity management solutions, Covid-19, and need to reduce escalating healthcare costs are some of the key factors driving the global hospital capacity management solutions market. However, concerns related to data security and privacy is likely to hamper the growth of the market.

Covid-19 Pandemic Triggers an Increase in Demand for Hospital Capacity Management Solutions

The Covid-19 pandemic has adversely impacted health services globally and demanded large and rapid changes for patient care. Taking care of Covid-19 patients alongside patients with other conditions was a complex capacity planning challenge. The global medical community faced an unparalleled strain on its facilities and its resources in the wake of overcrowded hospitals, lack of oxygen cylinders, dearth of hospital beds, difficulty maintaining adequate staffing and supporting staff, extended waits for test results, shortages of critical supplies, materials, and logistic support and an expanding black market for drugs. The situation led to increase in costs for hospitals, decreased revenues and posed as a threat to their financial viability. To address these concerns, hospitals embraced hospital capacity management solutions that helped hospitals to better monitor patient services and make optimum utilization of its resources to generate more revenue.

IoT-based Healthcare Capacity Management Solutions Opens New Growth Opportunities

For making decisions concerning long-term planning, facility performance and patient care & satisfaction, hospitals are increasing becoming reliant on data related to equipment assets, bed availability, workflows, patient/staff interactions, and safety compliance. Emergence of various IoT-enabled devices and real-time location systems (RTLS) has automated data collection on medical equipment location, usage and staff and patient interactions within all healthcare environments. This has helped facilities enhance compliance reporting, staff safety and shortage, workflow, hand hygiene and patient throughput by gathering meaningful data.

The global hospital capacity management solutions market is a booming market that is expected to gain further momentum in the coming years due to growing prominence of digitalization, automation tools and data-driven solutions that utilize predictive analytics, AI, and ML.

Competitive Landscape Analysis: Hospital Capacity Management Solutions Market

The global hospital capacity management solutions market is marked by the presence of players such as Cerner, McKesson, HealthStream, Stanley Healthcare, Infosys, Teletracking Technologies, WellSky, Simul8 Corporation, among others.

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