Westford,USA, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Global Hospital Services Market is always rallying and hospitals are still a bright spot in the industry - and could even be experiencing annual growth rates of as much as 7.89% from 2022 to 2028. Hospitals will account for more than 33% of global healthcare spending by 2025, up from one-fifth today in 2020. The number of hospitals around the world is projected to grow by 5% annually until 2028.
Hospitals services market will face numerous growth opportunities as they seek to respond to increasing demand for care, improve quality patient experiences, meet regulatory requirements, and expand services in new geographies. However, hospitals will also face challenges such as the escalating cost of healthcare and staff shortages.
Hospitals are facing intense pressure from the rising cost of health care, which is driving a need to improve patient satisfaction. To meet this demand, hospitals are turning to services to help them better manage patients and thereby reducing costs. Services covered by hospital services market report include electronic medical records (EMRs), patient communications solutions, patient outreach and engagement solutions, patient safety solutions, and population health management solutions.
SkyQuest is pleased to announce the release of its latest healthcare services market research report. This comprehensive report provides detailed insights into the current state of the healthcare services market, including key trends and opportunities.
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SkyQuest report includes an in-depth analysis of the competitive landscape, with profiles of leading market players. It also provides valuable insights into the key drivers and challenges impacting the healthcare services market.
This report is an essential resource for companies operating in the healthcare services market, and will help them to make informed strategic decisions in order to stay ahead of the competition.
What's fueling this resurgence? For one, SkyQuest study says that hospitals are benefiting from renewed pressure on the healthcare system from both patients and payers. As patients become more price-sensitive and purse strings tighten, hospitals are seeing an uptick in revenue from services such as outpatient surgery and diagnostic tests in the global hospital services market. While some payers have shifted more of their spending away from hospitals, others have begun to reinvest in the sector for better patient outcomes. In addition, continued advances in medical technology are creating new opportunities for hospitals to provide care beyond the traditional hospital setting - opening up revenue streams such as long-term care facilities and home health.
So, what's behind this increasingly positive outlook for hospital services? It likely has a lot to do with hospitals' focus on meeting customer needs and having the right capabilities in place to deliver them - whether it's through innovative technologies or skilled professionals. By staying agile and keeping up with changes in the hospital services market, hospitals can meet patients need.
In the hospital services market, hospitals are quickly realizing that they need to focus on the patient experience if they want to drive positive outcomes and increased customer loyalty. Patient experience is the key to driving positive outcomes and increased customer loyalty," said Swarnaima Aeri, Research Analyst at SkyQuest. "Clinical excellence, including meeting or exceeding patients' expectations for care and service, is becoming increasingly important as hospitals services market face competitive forces from managed care and Medicaid."Swarnima added that hospitals will also need to focus on how they serve patients with chronic diseases. Hospitals that can meet patients' needs for medication management, adherence support and disease coaching will reap the biggest rewards in the global hospital services market.
Browse summary of the report and Complete Table of Contents (ToC):
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Highlights of the report include the following:
- Hospitals are focusing on integrating care and moving patients to more efficient models.
- Some hospitals are transitioning to new models such as ambulatory surgery centers (ASC) and urgent care clinics.
- Hospital IT investments are becoming more complex as providers strive to automate processes and enhance patient experiences.
- Hospital reimbursement is expected to continue to change, with focus on value-based design and performance metrics.
This report by SkyQuest provides a comprehensive analysis of the hospital services market, distills data on key trends, identifies priority areas for future investment, and assesses opportunities and challenges in the market.
Biggest Opportunities for Hospitals Services Market Lie in Delivering IT-enabled Services, Improving Analytics, Automating Processes and Speeding Up Decision Making
IT-Enabled Services: Hospitals are increasingly turning to technology to improve services for patients and clinicians. A recent study from SkyQuest found that hospitals are deploying alternative payment models, such as direct patient payments and bundled payments, to drive value-based care. Apart from this, hospitals are increasingly using services to drive efficiency and better patient care in hospital services market. These include cloud-based applications, artificial intelligence (AI) and big data analytics. These enable hospitals to digitize processes and make them more automated, which in turn can free up time for frontline staff.
Analytics & Decision Making: By automating decision making processes and linking data streams from different parts of the hospital system, hospitals can speed up decision making. This allows them to better serve patients by optimizing resources and logistics. In addition, analytics help diagnose problems early, so they can be addressed more quickly in hospital services market.
Improving throughput: Many hospitals are looking to increase their throughput by automating workflows or speeding up processes. This includes everything from automating patient registration and check-in procedures to deploying digital tools in doctor offices. In order to achieve these goals, hospitals need to partner with vendors that have the ability to scale quickly.
SkyQuest’s latest telemedicine report finds that hospital telehealth is not just helpful for patients who need care outside the hospital setting; it's also valuable for hospitals themselves. Telemedicine offers hospital services market a way to improve the quality of care by reducing diagnostic delays and providing better information about patient health. The report forecasts that hospital telehealth will be used increasingly to provide care across multiple specialties in the next five years.
SkyQuest’s data shows that the hospital services market is highly fragmented, with a large number of players competing for market share. This fragmentation is expected to continue in the coming years, as new players enter the market and existing players expand their offerings. The report provides insights into the latest trends, opportunities and developments in the hospital services market and is essential reading for anyone involved in this rapidly changing industry.
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Top Players in Global Hospitals Services Market
- HCA Healthcare (US)
- Mayo Clinic (US)
- Cleveland clinic (US)
- Tenet Healthcare (US)
- Spire Healthcare Group plc (UK)
- Community Health Systems, Inc. (US)
- Fortis Healthcare (India)
- Ramsay Healthcare (Australia)
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