Patient engagement solutions procurement need to upsurge with Increasing investment in mHealth and improving patient experience

Patient Engagement Solutions Category Intelligence

Governments across the globe are continuously investing in improving patient engagement in healthcare infrastructure, driving the procurement needs for the patient engagement solutions market. North America holds the highest share of the market, owing to increasing government initiatives in this region is contributing toward the overall healthcare market demand. For instance, the U.S. government spends more than 15% of its annual GDP healthcare sector. In Europe, European Health Information Initiative (EHII) provides support for the exchange of expertise, builds capacity, and improves processes involved in health data collection and reporting. Moreover, government organizations such as the European Association of Public Health (EUPHA) work in collaboration with EHII, widening the scope of growth for the health information exchange market in the region.

Besides government investments in the healthcare industry, the recent development of mHealth also improves patient - physician interactions and diagnostics. mHealth or mobile health means the integration of mobile technology in healthcare solutions. The main objective of mobile health apps is to strengthen health access quality by enhancing the patient-provider relationship. Mobile health technology helps enhance communication among patients and providers, chronic disease monitoring, offers quick access to health data, and significantly improves the patient experience. The mhealth apps also inform patients and providers about preventive health measures, treatment support, and clinical trial assistance.

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 Patient Engagement Solutions Category Intelligence Highlights:

• Patient engagement solution providers are collaborating with small regional software development companies to outsource the development and implementation services, and maintain high-profit margins, low overhead costs, and their overall competitiveness in the market

• The market features a fragmented competitive landscape and several small players entering the market

• Suppliers widely prefer performance-based operating models to reduce risks and improve the potential for value creation

Patient Engagement Solutions Cost Intelligence Highlights:

Grand View Research has identified the following key cost components for developing a patient engagement solution:

• Development cost (Includes salary of key personnel)

  • Core developer

  • UI/UX designer

  • Electronic Health Records (EHR) integration

  • Security reinforcement/compliance

  • Appointment scheduling functionality

  • Live chat supporting media file exchange

  • Online medication refill system

  • Integration of educational materials section

• Project management

• Quality assurance

• Business analytics

• S&G overheads, R&D

• Working capital

• Tax

• Profit

Software development, the major cost component accounting for more than 45% of the total cost of development.

List of Key Suppliers in the Patient Engagement Solutions Market

• Mckesson Corporation

• Athenahealth Inc.

• Allscripts Healthcare Solutions Inc.

• Cerner Corporation

• Orion Health Ltd

• Getwellnetwork Inc.

• Lincor Inc.

• Get Real Health

• Oneview Healthcare

• Yourcareuniverse