Aspect Software

Nov 25, 2022

PR Newswire NEW YORK, Nov. 25, 2022 /PRNewswire/ -- Major players in the healthcare CRM market are Salesforce Inc, Microsoft Corporation, Oracle Corporation, SAP SE, SugarCRM Inc., Healthgrades Marketplace LLC, Infor Inc., Keona Health, Accenture, IBM Corporation, Cerner Corporation, Allscripts Healthcare LLC, Amdocs, Aspect Software, Siemens Healthcare GmbH, Talisma, NICE Systems, Verint Systems Inc., Veeva Systems, R1 RCM Inc., Pegasystems Inc., Sage Group plc, and Zoho Corporation Pvt. Ltd. The global healthcare CRM market is expected to grow from $12.98 billion in 2021 to $15.04 billion in 2022 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The healthcare CRM market is expected to grow to $25.65 billion in 2026 at a CAGR of 14.3%. The healthcare CRM market consists of sales of healthcare CRM software and services by entities (organizations, sole traders, and partnerships) that are used to acquire, retain, and engage with patients and provide personalized services. The Healthcare CRM is a customer relationship management (CRM) system made exclusively for the healthcare sector that combines data from numerous sources (consumer and patient demographics, psychographics, social, behavioral, clinical, financial, website, contact center, provider credentialing, etc.) to give a thorough picture of patients’ routines and activities. The main components of healthcare CRM are software and services.A CRM software is a platform that connects different healthcare departments, such as from sales and marketing to customer service, and it collects and arranges data in an organized manner. The different technologies include cloud-based, mobile, social, collaborative, predictive, and others that are developed on an on-premise model or web or cloud-based model. The various applications involved are community outreach, community health education, service outreach or promotion, financial donor management, care coordination, patient information management, pre-authorizations or eligibility, and others that are used by providers, payers, and the life science industry. North America was the largest region in the healthcare CRM market in 2021. The regions covered in the healthcare CRM market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The rising number of CRM systems in hospitals and clinics is expected to propel the growth of the healthcare CRM market going forward.Healthcare CRM software handles a comprehensive patient database that is safely stored and inaccessible to outside parties. The patients can readily obtain the necessary information from the CRM Medical software by texting, calling, or emailing them at any time from any location.The availability of medical CRM enables the healthcare sector to provide immediate services and solutions and enhance the general effectiveness of hospitals. For instance, in February 2021, according to Aimprosoft, a Ukraine-based healthcare software development company, the implementation of CRM in healthcare reduces administrative errors by up to 30%.Furthermore, according to an article published by Financesonline, a Poland-based platform for SaaS/B2B software and financial products reviews, in 2022, over 90% of hospitals will use electronic health records (EHR), where CRMs supplement EHR by offering and unifying communication capabilities for several concurrent patient engagements and giving users access to patient profiles. Therefore, the rising number of CRM in hospitals and clinics is driving the demand for the healthcare CRM market. Technological development is a key trend gaining popularity in the healthcare CRM market.Major companies operating in the healthcare CRM sector are focused on developing new technologically advanced solutions to improve patient health and strengthen their market position. For instance, in January 2021, Nuance Communications Inc., a US-based company that develops artificial intelligence (AI)-based CRM software, introduced a virtual assistant platform based on AI-powered patient engagement to transform digital experiences and voice across the patient journey. This platform assimilates and extends the possibilities of the healthcare organization’s critical financial, clinical, customer, and telephony systems, including the patient financial systems, EHR, CRM, and patient access center telephony infrastructure. In December 2021, Salesforce Inc., a US-based cloud-based software company, acquired Acumen Solution for an undisclosed amount. With this acquisition, Acumen Solutions would join the ranks of Salesforce Professional Services, working with Salesforce partners to assist clients in accelerating the realization of benefits from the Salesforce Customer 360 and establishing the groundwork for long-term success in this entirely digital environment. Acumen Solution is a US-based company that provides CRM solutions for healthcare. The countries covered in the healthcare CRM market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The healthcare CRM market research report is one of a series of new reports that provides healthcare CRM market statistics, including healthcare CRM industry global market size, regional shares, competitors with a healthcare CRM market share, detailed healthcare CRM market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare CRM industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.