Long-term Care Software Market Analysis Survey 2021 with Top Countries Data: Industry Size, Share, Future Challenges, Revenue, Demand, Industry Growth and Top Players Analysis | With Covid 19 Analysis

(The Express Wire via Comtex)

Global “Long-term Care Software Market” Report 2021 contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers,rate of growth, and key regions. The Long-term Care Software market growthis predictedto register a CAGR of nearly 12.2% during the forecast period. Long-term Care Software Market reports offeran in-depthassessment of the Long-term Care Software including enabling technologies, current market scenario, market assumptions, restraining factors.

"Final Report will add the analysis of the impact of COVID-19 on the Long-term Care Software industry."

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The report considers the revenue generated from the sales of this report and technologies by various application segmentslike anextensive assessment of key drivers, drivingbusinessplayers, key portions, and areas.Aside fromthis, the specialists have profoundly considered distinctive geological territories and introduceda significantsituationto assistnew participants, drivingbusinessplayers, and speculatorsto make a decisiondeveloping economies.

Long-term Care Software Market Report covers the Top Key-players 2021:-

● Allscripts Healthcare Solutions
● Cerner Corporation
● Matrix Care
● Mckesson Corporation
● Omnicare
● Inc
● Omnicell
● Optimus Emr
● Pointclickcare
● Sigmacare among others.

The global Long-term Care Software market covers the vision of competitor analysis by product types, market share, applications, sales, and revenue.

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The Global Long-term Care Software Market is expected to register a CAGR of nearly 12.2% during 2018-2023 (the forecast period). Long-term Care Software refers to software services that include electronic medical records, e-prescribing, medication management, patient monitoring, remote training etc. that enhance business operations needs, patient experience and outcomes.

Healthcare Reforms And Government Initiatives

The Health Information Technology for Economic and Clinical Health Act (HITECH) improves health care quality, safety, and efficiency including electronic health records (EHRs) and a private and secure electronic health information exchange. This type of information exchange is vital in proper disease management by timely alerting clinicians. In 2010 the Drug Enforcement Agency (DEA) implemented the E-Prescriptions for Controlled Substances (EPCS) to reduce errors, speed up the medication reconciliation process, track fulfillment of Prescriptions, and increase adherence to medications etc.
Effectively from January 1, 2018, US practitioners receive roughly USD 60.00 for remote patient monitoring (RPM), that involves accessing, reviewing, interpreting, and acting on various physiological data for at least 30 minutes over a 30-day period. RPM is a cost-effective method that reduces patient readmission and emergency department (ED) visits in case of chronic diseases. Medicare pays for Home Healthcare provided by agencies during episode of care (60 days) period that includes skilled nursing care (giving injections, tube feeding, wound dressing), Physical therapy, occupational therapy, and Counseling for emotional concerns. All the above will utilize the software platform or application for enhancing the patient health outcomes may contribute to the growth of the long term care software market. Other factors which are driving the Long-term Care Software Market growth are rise in aging population and shortage of nursing staff and doctors.

High Software Investment and Maintenance Costs

Software maintenance costs involve issues related to functionality enhancements and version upgrades, fixing bugs, correcting deployment challenges, correcting faults, and improvement of attributes. Small hospitals and clinics prefer to outsource to an IT services firm for maintenance of EHR system. There is upfront investment cost and post implementation maintenance costs.
Healthcare providers face challenge in selecting the EHR as it involves high cost. The upfront cost of cloud EHR and On-premise EHR is around USD 26,000 and USD 33000 approximately with a yearly cost of USD 8,000 and USD 4,000 respectively. There is also an uncertainty on Implementation cost, projected maintenance cost, consulting and training fees. Upon choosing an on-premise model, care providers should manage all the back-office technology involving data backup, data storage and servers. All the above may hinder the growth of the long term care software market. Other factors which are restraining the Long-term Care Software Market growth are unwillingness of the traditional long-term care providers to adopt software.

US Lead the Market in North America Region

The United States long term care market will continue to grow on account of EMR, e-prescribing, medication management, clinical decision support systems, remote patient monitoring systems and remote training etc. The Drug Enforcement Administration (DEA) allowed practitioners to write prescriptions for controlled substances electronically. This allows reduction in prescription errors caused by illegible handwritten prescriptions. The government initiative policies that are supportive for the adoption of care management services are propelling long-term care market in United States.

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Important Questions Answered in the Report:

● Which Manufacturing Technologyis employedfor Long-term Care Software? What Developments ArehappeningthereinTechnology? Which Trends Are Causing These Developments?
● What will be the CAGR% during the forecast year?
● Who Arethe worldwideKey Playersduring thisLong-term Care Software Market? What’s Their Company Profile, Their Product Information, Contact Information?
● What Was the Global Market Status of Long-term Care Software Market? What Was Capacity, Production Value, Cost, and PROFIT of Long-term Care Software Market?
● What Is the Current Market Status of the Long-term Care Software Industry? What’s Market Competitionduring thisIndustry, Both Company, and Country Wise? What’smarketing researchof Long-term Care Software Market by Taking Applicationsand kindsin Consideration?
● What Are Projectionsof worldwideLong-term Care Software Industry Considering Capacity, Production and Production Value?what is going toBe the Estimation of Cost and Profit?what is going toBe Market Share, Supply and Consumption? What About Import and Export?
● What Is Long-term Care Software Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
● What Is Economic Impact On Long-term Care Software Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
● What Are Market Dynamics of Long-term Care Software Market? What Are Challenges and Opportunities?
● What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Long-term Care Software Industry?

Highlighted points of Long-term Care Software Market Report:

● Covers the varying market dynamics of the industry.
● In-depth analysis of market risks, opportunities, limitations, and growth of the market.
● Includes market driving and restraining factors.
● Participants profiles along with product description, overview, and business data.
● Include details of five years of forecast analysis by types, regions, and applications.

Get sample PDF of Long-term Care Software market 2021:

Key Developments in the Long-term Care Software Market:
• Jun 2018: McKesson Corporation completed the previously announced acquisition of Medical Specialties Distributors

Reasons to Purchase the Long-Term Care Software Market Report

● Current and future Global Long-Term Care Software Market outlook in the developed and emerging markets
● Analysis of various perspectives of the market with the help of Porter’s five forces analysis
● The segment that is expected to dominate the market
● Regions that are expected to witness the fastest growth during the forecast period
● Identify the latest developments, market shares, and strategies employed by the major market players
● 3-month analyst support, along with the Market Estimate sheet (in Excel)

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Finally, the report Global Long-term Care Software Market 2021 describes the Long-term Care Software industry expansion game plan, the Long-term Care Software industry knowledge supply, appendix, analysis findings, and the conclusion.

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