Market Size –
The patient referral tracking system market size has grown rapidly in recent years. It will grow from $7.39 billion in 2023 to $8.58 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to fleet modernization in the navy, growing tensions in geopolitics, an emphasis on preparing for underwater warfare, the creation of unmanned systems, and cooperative defense projects.
The patient referral tracking system market size is expected to see rapid growth in the next few years. It will grow to $15.7 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to rising defense budgets, increasing investments in maritime surveillance capabilities, an increase in government funding, the increasing proliferation of submarines worldwide, and increasing risks to submarines. Major trends in the forecast period include increasing adoption of AI-driven referral optimization, the expansion of virtual care platforms, an emphasis on patient engagement and communication, integration with population health management strategies, and enhanced data analytics and reporting capabilities.
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Scope Of Patient Referral Tracking Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Patient Referral Tracking Systems Market Overview
Market Drivers –
The increasing adoption of electronic health records is expected to propel the growth of the patient referral tracking system market going forward. An electronic health record (EHR) is a digital version of a patient’s medical history containing comprehensive health information that healthcare providers can access and share securely. The adoption of electronic health records is increasing due to the growing recognition of their benefits in improving healthcare efficiency, patient safety, and care coordination. Electronic health records are used in patient referral tracking systems to facilitate seamless communication and coordination between healthcare providers by documenting referral information, tracking patient progress, and ensuring continuity of care. For instance, in 2021, according to HealthIT.gov, a US-based official website for health information technology, a certified EHR was adopted by virtually all non-federal acute care hospitals (96%) and nearly 4 in 5 office-based physicians (78%) in the United States, compared to 72% in 2019. Therefore, the increasing adoption of electronic health records is driving the growth of the patient referral tracking system market.
Market Trends –
Major companies operating in the patient referral tracking systems market are developing centralized referral management solutions such as enterprise referral managers, to improve efficiency and coordination in healthcare settings. Enterprise referral manager is a referral management software that provides various benefits to healthcare organizations, including reduced referral leakage, decreased lead times, automatic reminders, secure patient information exchange, and others. For instance, in October 2023, WellSky, a US-based technology company, launched the WellSky enterprise referral manager. This purpose-built software solution aims to revolutionize referral, intake, and customer relationship management processes for home health, hospice, and other home-based care agencies. The solution promises to enhance staff efficiency, expand referral sources, and accelerate the start of care for patients. Its features include digital connectivity to multiple electronic health record systems, CRM capabilities for marketing liaisons, and seamless transitions between care settings.
The patient referral tracking systems market covered in this report is segmented –
1) By Type: Inbound, Outbound
2) By Deployment Mode: Cloud-Based, On-Premise
3) By End-User: Healthcare Providers, Healthcare Payers, Patients, Other End-Users
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Regional Insights –
North America was the largest region in the patient referral tracking systems market in 2023. The regions covered in the patient referral tracking systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the patient referral tracking systems market report are <b>UnitedHealth Group Incorporated; McKesson Corporation; International Business Machines Corporation; Oracle Corporation; Medtronic plc; GE Healthcare ; Cerner Corporation; Epic Systems Corporation; Athenahealth Inc.; eClinicalWorks LLC; Persistent Systems Limited; Allscripts Healthcare Solutions Inc.; NextGen Healthcare Inc.; Netsmart Technologies Inc.; Greenway Health LLC; Surescripts LLC; CareCloud Corporation; Kareo Inc.; PracticeSuite LLC; Practice Fusion Inc.; AdvancedMD Inc.; Insync Healthcare Solutions; eHealth Technologies Inc.; Blockitnow Inc.; Eceptionist Inc. </b>
Table of Contents
1. Executive Summary
2. Patient Referral Tracking Systems Market Report Structure
3. Patient Referral Tracking Systems Market Trends And Strategies
4. Patient Referral Tracking Systems Market – Macro Economic Scenario
5. Patient Referral Tracking Systems Market Size And Growth
…..
27. Patient Referral Tracking Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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