Westford, U.S., Sept. 21, 2022 (GLOBE NEWSWIRE) — Global Hospital Services Market still rallies and hospitals are still a bright spot in the industry – and could even see annual growth rates of up to 7.89% from 2022 to 2028. Hospitals will account for more than 33% of global healthcare spending in by 2025, compared to a fifth today in 2020. The number of hospitals in the world is expected to increase by 5% per year until 2028.
The hospital services market will face numerous growth opportunities as they seek to meet the growing demand for care, improve the quality of patient experience, meet regulatory requirements and expand services in many new geographical areas. However, hospitals will also face challenges such as escalating healthcare costs and staff shortages.
Hospitals are facing intense pressure from rising healthcare costs, which necessitates improving patient satisfaction. To meet this demand, hospitals are turning to services to help them better manage patients and thereby reduce costs. Services covered in the Hospital Services market report include Electronic Medical Records (EMRs), Patient Communication Solutions, Patient Outreach & Engagement Solutions, Patient Safety Solutions, and Healthcare Solutions. population health management.
SkyQuest is pleased to announce the release of its latest Healthcare Services Market Research Report. This comprehensive report provides detailed information on the current state of the healthcare services market, including key trends and opportunities.
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The SkyQuest report includes an in-depth analysis of the competitive landscape, with profiles of key market players. It also provides valuable insights into the major drivers and challenges impacting the Healthcare Services market.
This report is an essential resource for companies operating in the Healthcare Services market and will help them make informed strategic decisions to stay ahead of the competition.
What is fueling this resurgence? On the one hand, the SkyQuest study indicates that hospitals are benefiting from renewed pressure on the healthcare system from patients and payers. As patients become more price sensitive and purse strings tighten, hospitals are seeing increased revenue from services such as outpatient surgery and diagnostic tests in the global hospital services market. While some payers have diverted more of their spending from hospitals, others have begun to reinvest in the sector for better patient outcomes. Additionally, continuous advances in medical technology are creating new opportunities for hospitals to provide care beyond the traditional hospital setting – opening up revenue streams such as long-term care facilities and home care.
So what’s behind this increasingly positive outlook for hospital services? This likely has a lot to do with hospitals’ emphasis on meeting customer needs and having the right capabilities in place to meet them, whether through innovative technologies or skilled professionals. By remaining nimble and following changes in the hospital services market, hospitals can respond to patient needs.
In the hospital services market, hospitals are quickly realizing that they need to focus on the patient experience if they want to drive positive outcomes and increase customer loyalty. Patient experience is key to achieving positive outcomes and increasing customer loyalty,” said Swarnaima Aeri, Research Analyst at SkyQuest. “Clinical excellence, including meeting or exceeding patient care and service expectations, is becoming increasingly important as the hospital services market faces competitive managed care and Medicaid forces. . “Swarnima added that hospitals will also need to focus on how they serve patients with chronic conditions. Hospitals that can meet patient needs for medication management, adherence support and coaching disease will reap the greatest rewards in the global hospital services market.
Browse the report summary and full table of contents (ToC):
Highlights of the report include the following:
- Hospitals are focused on integrating care and moving patients to more efficient models.
- Some hospitals are transitioning to new models such as Ambulatory Surgical Centers (ASCs) and Urgent Care Clinics.
- Hospital IT investments are becoming increasingly complex as providers strive to automate processes and improve the patient experience.
- Hospital reimbursement is expected to continue to change, with an emphasis on value-based design and performance metrics.
This SkyQuest report provides a comprehensive analysis of the hospital services market, distills data on key trends, identifies priority areas for future investment, and assesses market opportunities and challenges.
The greatest opportunities for the hospital services market lie in providing IT services, improving analytics, automating processes and accelerating decision-making
IT services : Hospitals are increasingly turning to technology to improve services to patients and clinicians. A recent SkyQuest study found that hospitals are deploying alternative payment models, such as direct patient payments and bundled payments, to drive value-based care. Apart from this, hospitals are increasingly using the services to increase efficiency and improve patient care in the hospital services market. These include cloud-based applications, artificial intelligence (AI), and big data analytics. These allow hospitals to digitize processes and make them more automated, which can free up time for frontline staff.
Analytics and Decision Making: By automating decision-making processes and linking data streams from different parts of the hospital system, hospitals can accelerate decision-making. This allows them to better serve patients by optimizing resources and logistics. Plus, the scans help diagnose problems early, so they can be fixed faster in the hospital services marketplace.
Improved throughput: Many hospitals are looking to increase throughput by automating workflows or speeding up processes. This includes everything from automating patient check-in and check-in procedures to deploying digital tools in medical practices. In order to achieve these goals, hospitals need to partner with vendors that can scale quickly.
SkyQuest’s latest report on telemedicine reveals that hospital telehealth isn’t just useful for patients who need care outside of the hospital setting; it is also valuable for the hospitals themselves. Telemedicine offers the hospital services market a way to improve the quality of care by reducing diagnostic times and providing better information on the health of patients. The report predicts that hospital telehealth will be increasingly used to provide care across multiple specialties over the next five years.
SkyQuest data shows that the hospital services market is highly fragmented, with a large number of players competing for market share. This fragmentation is expected to continue in the coming years as new players enter the market and existing players expand their offerings. The report provides an overview of the latest trends, opportunities and developments in the hospital services market and is essential reading for anyone involved in this fast-paced industry.
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Key players in the global hospital services market
- HCA Healthcare (USA)
- Mayo Clinic (USA)
- Cleveland Clinic (USA)
- Tenet Healthcare (USA)
- Spire Healthcare Group plc (UK)
- Community Health Systems, Inc. (USA)
- Fortis Healthcare (India)
- Ramsay Healthcare (Australia)
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SkyQuest Technology is a leading growth consulting firm providing market intelligence, marketing and technology services. It has more than 450 satisfied customers worldwide.
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