(PharmaNewsWire.Com, August 27, 2020 ) The patient engagement technology market is expected to rapidly grow as the healthcare industry witnesses a shift to a value-based reimbursement system from the traditional volume-based fee for reimbursement system. Adoption of patient engagement technology enables the healthcare industry to reduce costs while improving the quality of healthcare. The technology also provides positive returns on investment.
Furthermore, legislative reforms of the Affordable Care Act (ACA) in the U.S., E-government action plan of European Union, government incentives, rising aging population, and increasing awareness to self-monitor health, has stimulated the adoption of patient engagement technology in the healthcare industry. However, in spite of numerous benefits, certain barriers such as huge investments requirement, fragmented end-user market, and security of patient data are restraining the growth of this market.
The study provides granular information regarding the pricing of patient engagement technology with a breakdown into various cost components. The report also provides insights on replacement market for patient engagement technology and factors triggering the replacement trends; this market presents significant opportunities for vendors in the market due to the lack of allied functionality and interoperability issues in the existing patient engagement technology.
The research findings cited in the report encapsulate the buying behavior of hospitals for patient engagement technology. It analyses hospitals buying behavior taking into account the size of the hospital and considering the role of key stakeholders in the hospital. Physicians are reported to use this technology majorly to improve patient communication and satisfaction, and a large percentage of patients reported that they used it for viewing diagnostic tests and records. Selection criteria considered by providers for embracing patient engagement technology is also included in the scope of the study. A separate section on assessment of lucrative end-user segments is a value-add for the report as well as for its stakeholders. The report also analyzes at length vendor replacement trends and the implementation status (2019) of mobile technology used for patient engagement against various applications.
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