Healthcare Workforce Management System Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Healthcare Workforce Management System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Healthcare Workforce Management System Global Market Report 2024, The healthcare workforce management system market size has grown rapidly in recent years. It will grow from $1.91 billion in 2023 to $2.13 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to labor shortages, compliance requirements, focus on patient satisfaction, cost containment, population health management, demand for real-time data.

The healthcare workforce management system market size is expected to see rapid growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to telehealth expansion, focus on work-life balance, interoperability needs, emphasis on continuing education, rise of healthcare consumerism, value-based payment models. Major trends in the forecast period include cloud-based workforce management solutions, patient-centered staffing models, mobile workforce solutions, predictive analytics for workforce planning, data-driven decision-making.

The rising need to curtail healthcare costs of the healthcare workforce is contributing to the growth of the healthcare workforce management system market. Healthcare workforce management solutions help healthcare facilities to manage the workforce schedules, payrolls, time and attendance, recruiting, budgeting and reporting. Most of the time healthcare facilities face challenges in managing the hospital’s staff due to a surge in the number of inpatients and outpatients. These tedious manual processes lead to errors in the scheduling of the staff, and payments of staff based on their shifts were also a big challenge for management. The workforce management system helps hospital management to manage the demand for services, and allocate labor and staff efficiently to increase productivity. Companies are developing such software for efficient workforce management. For instance, in March 2022, QGenda, a US-based provider of operations, and healthcare workforce management platform, launched ProviderCloud, a scheduling-centric provider operations platform for healthcare. Using these platforms, healthcare organizations of all sizes can gain holistic visibility into their entire workforce, along with the actionable data necessary to deliver quality patient care. So, the increasing need to curtail healthcare costs through effective management of the healthcare workforce is contributing to the growth of the market.

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The healthcare workforce management system market covered in this report is segmented –

1) By Software: Time And Attendance, HR And Payroll, Talent Management, Analytics

2) By Solution: Software, Services

3) By Mode Of Delivery: Web-Based, Cloud-Based, On-Premise

4) By End User: Nursing Homes, Long-Term Care Centers, Hospitals, Other Healthcare Institutions

Major companies operating in the healthcare workforce management system market are focusing on development of innovative solutions such as next-generation technology platforms, to fulfill evolving industry demands and enhance operational efficiency. A next-generation technology platform signifies an advanced, cutting-edge system that incorporates the latest technological advancements and capabilities for improved performance and functionality. For instance, in October 2023, Healthcare Workforce Logistics (HWL), a US-based healthcare workforce management solutions provider, launched HWL Works, a flexible set of technology and advisory solutions that empowers healthcare organizations to excel in a competitive workforce landscape, combining people, processes, and technology to offer customizable solutions either individually or as part of a comprehensive suite. This comprehensive approach addresses labor shortages, leveraging leading managed service programs (MSP) and vendor management systems (VMS), alongside specialized programs analyzing workforce scenarios to craft and oversee bespoke healthcare staffing solutions for specific organizational requirements.

The healthcare workforce management system market report table of contents includes:

Executive Summary
Healthcare Workforce Management System Market Characteristics
Healthcare Workforce Management System Market Trends And Strategies
Healthcare Workforce Management System Market – Macro Economic Scenario
Global Healthcare Workforce Management System Market Size and Growth

Global Healthcare Workforce Management System Market Competitive Benchmarking
Global Healthcare Workforce Management System Market Competitive Dashboard
Key Mergers And Acquisitions In The Healthcare Workforce Management System Market
Healthcare Workforce Management System Market Future Outlook and Potential Analysis
Appendix

Top Major Players: