Long-Term Care Software market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2019 to 2024 are profiled in this report.
The Long-Term Care Software market is expected to grow with an anticipated CAGR of 12%, during the forecast period (2019-2024).
The Long-Term Care Software market is highly competitive and consists of a number of major players. Top Companies like Allscripts Healthcare Solutions, Cerner Corporation, McKesson Corporation, Matrix Care, and Optimus EMR among others.
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Scope of the Report
The term long-term care software refers to software services that include electronic medical records, e-prescribing, medication management, patient monitoring, remote training, etc., which enhance business operation’s needs, patient experience, and outcomes.
Key Market Trends
E-Prescribing is Expected to Grow with Good CAGR in the Product Segment
Electronic prescribing is a new way for care providers to enter prescription information into a computer or mobile application and transfer to pharmacies, where it can be dispensed. As per the Office of the National Coordinator for Health Information Technology (ONC), around 70% of physicians in the United States have transmitted at least one e-prescription. The rise in the trend of e-prescribing is due to the implementation of Electronic Prescriptions for Controlled Substances (EPCS) in 2010. This also helps to avoid the errors in drug prescription that occur due to handwritten prescription.
E-prescribing helps healthcare providers to track the prescription filling, alert patients on allergies, monitor controlled substance prescriptions, and improve medication adherence, etc. The advantages of e-prescribing over traditional methods are contributing to the growth of the long-term care software market.
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North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. This is due to the increasing number of geriatric population and the favorable government policies along with the presence of widespread insurance coverage. In the North America region, the United States holds the largest market share. This is mainly due to the good adoption rate of new technology software services across the country. For instance, The Drug Enforcement Administration (DEA) allowed practitioners to write prescriptions for controlled substances electronically. This allows a reduction in prescription errors caused by illegible handwritten prescriptions.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Long-Term Care Software Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
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