Patient Engagement Solutions Procurement in the Healthcare Landscape

The global patient engagement solutions category is anticipated to grow at a CAGR of 17.7% from 2023 to 2030. Key factors that are driving this growth include the swift adoption of mobile healthcare platforms and applications by the healthcare sector with the availability of reliable internet connectivity, execution of laws and programs designed to promote patient-centered care, and growing preference for transparency in treatments and actively involving people in the healthcare delivery process. In addition, an increase in stakeholder alliances and collaborations, and the rising popularity of solutions offered in the category among the elderly population are further anticipated to drive its growth. Concerns about the security of patient health information are restricting data exchange among stakeholders in the sector, thus, hampering patient engagement initiatives. This may hinder the category’s growth during the forecasted timeframe.

The internet has made it possible for doctors and patients to communicate with one another, increasing interest and improving diagnostic precision. They are now able to communicate much more easily and effectively due to the adoption of patient engagement technologies.As the prevalence of chronic illnesses such as diabetes and cancer rises, IT firms are developing ways to interact with and oversee patients in hospitals and other healthcare settings. For instance, the Apollo Hospitals Group (India) has developed a system that provides physicians and patients with real-time updates on their records and data. In an emergency, these technologies also allow patients to communicate with doctors. In addition, the patients do not have to wait in line to see doctors directly for health-related issues.The solution offered in the category also enables governments and healthcare providers to monitor patient information, which helps them, comprehend patient histories and recommend the best course of action.

Order your copy of the Patient Engagement Solutions Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Patient Engagement Solutions Category - Total Cost of Ownership & Breakup

The global patient engagement solutions category was valued at USD 19.3 billion in 2022. Based on the component, the category is dominated by the software segment. Deploying and utilizing software is easy, and it supports obtaining precise drug information. It facilitates effective digital prescription transfer and is utilized in the management of healthcare both at home and in other establishments as well. In addition, it helps with the implementation of cloud-based or on-premises augmented analytics, enabling the prediction and implementation of solutions using live training techniques. On the other hand, the services segment is anticipated to witness the fastest growth rate since it is among the most crucial elements for functioning patient engagement solutions. Based on delivery mode, the web / cloud-based mode dominates the category.Rapid growth in the popularity of these portals can be attributed to easy data backup, low cost of handling, integrated features, fast accessibility, and real-time data tracking.

Key technologies that are driving this category’s growth include artificial intelligence (AI) & machine learning (ML), remote monitoring devices, wearables, optimized online touchpoints, personalized health & predictive medicine.AI & ML technologies offer analysis of massive patient data sets, to anticipate future health problems and offer personalized health advice. According to a recent study, AI can reduce treatment costs by up to 49.5% while improving results by 29.5% to 39.5%. In addition, AI and ML can free up healthcare workers to focus on more complex patient care by automating repetitive chores.In the healthcare, remote monitoring devices communicate data back to the care team and electronic health record (EHR). Through digital patient engagement tools, such as SMS text messaging and mobile apps, they offer a point of contact that allows patients and their clinicians to communicate outside of the office. In addition to providing new tools for managing chronic diseases, remote technologies strengthen ties between healthcare providers and patients.

Patient Engagement Solutions Sourcing Intelligence Highlights

  • The patient engagement solutions category exhibits a fragmented landscape with intense competition among the industry players.
  • Buyers in the category possess high negotiating capability due to the intense competition among the suppliers, enabling the buyers with the flexibility to switch to a better alternative.
  • India is the preferred low-cost/best-cost country for sourcing patient engagement solutions suppliers. The nation is one of the most well-known for its affordable software development costs for healthcare.
  • License cost/subscription fee, personnel, maintenance & upgradation, training & certification costs, and support constitute the total cost of ownership for patient engagement solutions category. Other costs can be further bifurcated into utility costs, administrative expenses, renewal costs, data migration costs, and security.

List of Key Suppliers

  • Athenahealth, Inc.
  • GetWellNetwork, Inc.
  • Infomedia Group, Inc. (d.b.a Carenet Healthcare Services)
  • Innovaccer Inc.
  • International Business Machines Corp. (IBM Phytel)
  • IQVIA Inc.
  • Lincor, Inc.
  • McKesson Corporation
  • Medisys, Inc.
  • Oracle Corporation (Oracle Cerner)
  • Orion Health Group Limited
  • PatientPoint Network Solutions, LLC
  • Veradigm LLC
  • Vivify Health, Inc. 

Browse through Grand View Research’s collection of procurement intelligence studies:

Patient Engagement Solutions Procurement Intelligence Report Scope

  • Patient Engagement Solutions Category Growth Rate : CAGR of 17.7% from 2023 to 2030
  • Pricing Growth Outlook : 5% - 10% increase (Annually)
  • Pricing Models : Subscription-based pricing, perpetual pricing, usage-based pricing, and freemium pricing
  • Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
  • Supplier Selection Criteria : Years in service, industries served, employee strength, revenue generated, geographical service provision, key clientele, certifications, software type, hardware type, services offered, deployment mode, and others
  • Report Coverage : Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model 

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. 

Our services include (not limited to):

  • Market Intelligence involving – market size and forecast, growth factors, and driving trends
  • Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
  • Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
  • Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions 

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