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The coronavirus epidemic has hastened the rise of digital applications for Health, particularly telehealth, remote patient monitoring, and teleconsultation services.
McKinsey estimates that the use of telehealth has increased 38 times since the pandemic began.
Over the coming years, the adoption of digital health solutions and software should increase rapidly; this highlights the significance of investing in innovative digital health program
Prior to the pandemic's outbreak, predictions projected the IT sector would reach $326.1 Billion. Now, however, estimates indicate it may reach $662 Billion by 2026 as some barriers (digital skepticism) begin to dissipate, and healthcare stakeholders all around the world agree that digital is their future.
This article will outline how Healthcare Software Solutions can revolutionize the industry and advance your medical practice to the next stage.
Let's first understand what benefits healthcare applications bring to the industry.
Software in Healthcare
Medical practice management software offers many advantages to users who aim to expand their medical businesses.
It can dramatically change health management practices while decreasing errors and mishaps at hospitals and healthcare practices.
Hospitals continue to become more complex and larger each year. To manage and run these costly assets efficiently, hospitals, healthcare providers, and others are turning to medical software that aims to optimize inventory levels while simultaneously controlling operational expenses and making sure critical equipment stays protected and in working condition.
Certain features are now essential in order to guarantee patient satisfaction: instant access to treatment histories and medical records is now non-negotiable; automated scheduling, merging communication networks, and in-app messaging and reminders all serve to create an effortless process that ensures smooth sailing from start to finish.
Doctors today can also monitor their patients remotely with software that allows them to assess, consult, and diagnose patients from within their office without ever leaving.
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Healthcare Software Types
Here are the most widely utilized software applications that medical practices can utilize to enhance healthcare services, reduce errors, and boost efficiency.
1. Electronic Health Records (EHR)
Electronic Health Record software is used by healthcare professionals to manage and store patient health data securely, making it easily accessible to healthcare providers who want to deliver better patient care, coordinate services among different providers, or minimize medical errors.
EHR software enables healthcare providers to store clinical and medical histories more securely while improving care coordination between providers as well as reducing medical errors.
The global EHR market is projected to reach USD 24.5 billion and grow with an approximate compound annual growth rate (CAGR) rate of 13.5% between 2020-2027.
EHR market expansion is fuelled by increasing adoption within healthcare organizations, demand for integrated health solutions, and the development of telemedicine.
2. Practice Management Systems (PMS)
Practice Management Software is used by healthcare organizations - medical practices, hospitals, and clinics - to effectively organize administrative and clinician processes within an organization, including appointment scheduling, registration of new patients, medical billing management, and revenue cycle management.
PMS software helps healthcare providers run more efficiently while simultaneously increasing patient satisfaction and decreasing administrative overhead costs.
The global PMS market has experienced steady expansion, estimated to be worth several hundred billion dollars. In 2021 alone, it was valued at USD 6.5 billion with projected compound annual growth over 2020-2027 of 10% annually - driven by factors including growing healthcare integration needs, adoption of cloud-based PMS solutions, and desire for enhanced practice management efficiency, among others.
3. Telemedicine Solutions
Telemedicine software enables healthcare providers to deliver services such as virtual consultations and remote monitoring to patients remotely for diagnosis, treatment, and follow-up purposes.
Video conferencing or message services allow healthcare providers to connect with patients remotely to deliver improved patient care at lower costs with higher satisfaction ratings for improved healthcare delivery. Telemedicine solutions help healthcare providers provide these benefits without incurring high travel expenses for appointments with their patients onsite.
Global Telemedicine Market Size The Telemedicine industry valuation was estimated at several billion dollars as it rapidly increased between 2020-2027, with compound annual growth rates reaching 18% compound annually between this date.
Market expansion can be attributed to three primary drivers:
- Growing demand for remote health services
- Increased adoption of Telemedicine Software solutions among healthcare providers
- Growth in mobile Health (mHealth)
4. Revenue Cycle Management (RCM)
Software for Revenue Cycle Management, more commonly referred to as revenue cycle management, allows healthcare providers to control revenue-generation processes from service delivery until payment effectively.
RCM software helps providers streamline revenue cycles while simultaneously decreasing administrative overhead and increasing accuracy and efficiency in healthcare providers' workflow.
Global RCM market size is projected to expand at an impressive annualized compound annual growth rate and be worth several billion dollars by 2027, as estimated in 2021 when valued at USD 18.5; it's anticipated to experience compound annual growth rates of 11% over this timeframe due to rising demands for integrated health solutions, increased adoption of cloud RCM services and the need for improved revenue cycle management practices.
5. Patient Management Systems
Patient Management Software (PMS) is a digital tool healthcare providers can use to streamline patient care from the time a person enters until the time they depart the facility.
Healthcare providers use patient management software for tasks like registration, appointment scheduling, and medical billing - helping improve care while decreasing medical errors and increasing operational efficiencies simultaneously.
Global Patient Management Software Market Is Expanding Steadily Estimated at Several Billion USD The Patient Management Software market was valued at USD 8.5 Billion in 2021 and is expected to experience a compound annual growth rate (CAGR) of 10% between 2020-2027.
Growth can be attributed to rising healthcare demands for integrated solutions, cloud solutions, and patient care management as drivers of demand for Patient Management Software products.
6. Medical Billing and Coding Software
Medical billing and coding software helps healthcare providers streamline the submission of claims to insurers for reimbursement of services they render, accurately code procedures performed during patient treatment sessions, submit claims quickly, monitor payments accurately, and track payments made on those claims.
In turn, this helps improve revenue cycle performance, lower administrative overhead costs, and increase accuracy and efficiency - ultimately leading to greater patient care.
7. Clinical Decision Support Systems
Clinical Decision Support Systems, or CDSSs for short, are computerized Software in Healthcare systems designed to assist healthcare providers with making clinical decisions.
CDSSs offer real-time guidance and support using algorithms, patient data, and knowledge bases; their purpose is to enhance care through timely information delivery at the point of care.
CDSSs can either be integrated into EHRs or used independently as stand-in systems, offering tailored clinical applications like disease management or drug interaction checking.
CDSS features include interaction checks, dosage calculations, and diagnostic support, as well as guidelines-based treatment recommendations that make CDSSs the go-to source.
8. Personal Health Records
(PHRs) are digital documents that contain details regarding an individual's medical history, medications, and lab results, as well as immunization records.
PHRs were created with patients in mind to allow them more direct involvement with their healthcare and allow for easier record maintenance by either themselves or healthcare providers on behalf of these records.
PHRs can facilitate communication among patients, healthcare providers, and other key players. PHRs also serve to track and manage conditions more easily, as well as offer a complete view of an individual's medical history.
Patients can utilize PHRs as part of an informed healthcare decision-making process by selecting treatments and monitoring progress through PHRs.
9. Laboratory Information Systems (LISs)
Laboratory Information Systems (LISs) are digital tools clinical labs use to automate and oversee their daily operations.
LIS software acts as a central repository, managing patient records and test results while improving efficiency by eliminating mistakes and supporting clinical decisions with up-to-date, accurate information.
LISs manage the full laboratory cycle from patient registration and test ordering through to sample management, report creation, and result delivery.
They integrate seamlessly with healthcare systems like EHRs and CDSSs for complete patient data visibility.
10. Radiology Information Systems (RIS)
Radiology Information Software is an essential digital tool used by radiology departments for managing images and patient records efficiently while improving efficiency, reducing errors, and providing better patient care.
Radiology Information Software includes features like image management, patient scheduling, and report generation to aid this goal.
Radiology Information Software is designed to assist radiology departments in managing all phases of imaging procedures efficiently, such as patient scheduling, exam tracking, and image acquisition.
The system integrates seamlessly with healthcare systems like electronic health records (EHR), picture archiving communication, and systems (PACS) for complete visibility into patient records and healthcare data.
11. Pharmacy Management Systems
Pharmacy Management Software (PMS) is an essential digital tool used by pharmacies to run their operations effectively and efficiently, including managing prescriptions, finances, inventory control, and patient care services.
By increasing efficiency while decreasing errors and errors as well as improving care quality. Among many features included are prescription filling tools as well as drug interaction checks.
Pharmacy Management Software assists pharmacies in running their daily operations effectively and efficiently, including tasks such as filling prescriptions, renewing them when due, managing inventories, and real-time reporting on drug availability, cost, and patient profiles - providing real-time insights for making more informed decisions to enhance operations and boost performance.
Demand for integrated healthcare, increased adoption of cloud-based Pharmacy Management Software, and better patient care all play an instrumental role in fuelling Pharmacy Management Software market expansion.
Estimates put its worth somewhere over several hundred billion dollars with compound annual growth between 2020-2027 estimated at approximately 10% compound annually.
12. Supply Chain Management Systems
Healthcare Supply Chain Management Software (HSCM) is a digital tool used by healthcare organizations to coordinate the purchase, storage, and distribution of medical equipment and supplies.
Automating tasks such as ordering inventory control and tracking deliveries allows healthcare organizations to increase efficiency while cutting costs in their operations, ensuring patients receive high-quality care from healthcare organizations with adequate supplies available to provide care at any moment in time.
Healthcare Supply Chain Management Software can assist healthcare organizations to optimize their supply chains better, minimize waste, and avoid stockouts.
Integration between software and healthcare systems such as electronic health records (EHR), financial, and other systems provides a holistic view of supply chain operations and gives an unrivaled view into operations. Healthcare Supply Chain Management software continues to gain popularity as the demand for integrated healthcare systems increases, and cloud solutions offer superior supply chain management options.
13. Healthcare Analytics and Business Intelligence Solutions
Healthcare Analytics and Business Intelligence Software (HABI) is a digital tool healthcare organizations use to gather, store, and analyze data so as to make more effective decisions and boost operational efficiencies.
With HABI, they can collect information from various sources like electronic medical records (EMR), patient management systems (PMS), financial systems, and so on and transform it into actionable insight, which they use for trend identification, process improvements, or patient outcome improvements.
Healthcare Analytics and Business Intelligence Software includes tools such as data visualization, predictive modeling, machine learning algorithms, and reporting that help healthcare organizations reduce costs while increasing patient satisfaction with data-driven decisions.
Healthcare Analytics Software's popularity continues to expand due to an increased need for integrated healthcare solutions that take advantage of cloud storage solutions as well as better data management practices.
14. Clinical Trials Management Software
Researchers need effective clinical trial management software in order to conduct trials efficiently. Such software facilitates patient recruitment, data collection, and trial analysis, as well as features like data security, tracking patients, and protocol management; additionally, it may automate certain processes like eligibility screening or randomization, which makes coordinating trials much simpler and more efficient.
15. Medical Robotics Software
Medical robotics is a type of software for healthcare that controls robotic systems during surgery or other procedures, such as chemotherapy treatments.
This software assists healthcare providers in performing procedures more precisely and with greater precision, leading to enhanced patient outcomes. Software developed specifically for medical robotics also provides surgeons with real-time video feedback, which enhances situational awareness as well as decreases potential complications, and shortens recovery times for their patients.
Read More: A Comprehensive Guide On Finding the Best Health Care Solutions in 2022
10 Best Healthcare Software Solutions That You Can't Avoid
1. Virtual Healthcare (or Telehealth)
Have you been waiting in line for medical checkups and treatment of long-term illnesses? Telehealth services could offer an attractive solution, according to Parks Associates research from 2017 on broadband households in US households that desired regular check-ins at home from qualified health professionals or fitness training remotely from them.
Virtual healthcare enables doctors, nurses, and their patients to communicate more easily using wearable devices like fitness trackers.
People can get medical assistance at home when they cannot leave, with 53% sharing data/status updates with their physician for monitoring purposes and better planning for patient wellbeing. As reported by Visual Capitalist, 53% share data/status updates with their doctor so they may monitor them more easily as part of care plans for each of their patient's wellbeing.
2. Artificial Intelligence Applications
Healthcare software solutions often utilize Artificial Intelligence technology. It has many uses within custom healthcare software, from early cancer or stroke diagnosis, dosage error reduction, and taking part in clinical trials to improving accuracy, reducing infection rates, and dealing better with complications to speeding recovery times for patients.
Accenture claims machine learning (ML) and artificial intelligence in custom healthcare software are some of the most valuable technologies for robotic-assisted surgeries and virtual nursing assistants; machine learning will improve accuracy while robots will help speed recovery times for them both.
Visual Capitalist conducted a survey that revealed healthcare providers' desire to use artificial intelligence (AI) to improve population health, manage diseases more efficiently, and make accurate clinical decisions using health data.
3. Internet of Medical Things
IoMTs can be utilized in multiple ways to enhance healthcare delivery. One such use case for IoMTs is nanomedicine; micromaterials used include smart pills, ingestible sensors, nanorobots, or smart pills placed inside patients to diagnose and treat disease; the information gleaned by such sensors may even transmit back to computers used by doctors and nurses for diagnosis or treatment purposes.
IoMTs can also be applied in other parts of the healthcare industry. Sensors found within medical devices like wheelchairs, wearable monitors, and pregnancy test kits allow doctors and nurses to better patient outcomes through information collected using IoMTs.
4. Electronic Health Records (EHRs)
EHRs offer healthcare organizations an effective solution for storing patient records electronically. Instead of keeping paper copies for every individual record stored therein, this approach transfers all pertinent details, including previous diagnoses and treatment plans, medication details, and test results, directly onto an EHR system, making searching the treatment history of each individual much quicker.
Doctors or other healthcare practitioners can quickly look up any patient with just a quick search - saving both time and resources when providing treatment recommendations or advice to clients.
5. Testing and Imaging Solutions
MedTech also highlighted testing and imaging solutions. Deep learning, cloud computing, and advanced visualization make acquiring accurate images and sounds of the heart and body easier; physicians can now gain a clearer picture of patient health to lower risks such as heart attacks, cancer, and blood flow obstructions.
6. Software Solutions for 3D Printing in Healthcare
3D printing technology has grown increasingly prevalent within hospitals since its development, even though its invention came much later.
It primarily functions to produce artificial organs (fake bones or prostheses) made out of buildable materials like plastics or stem cells; using such an innovative process could allow us to replace parts of human anatomy, such as skin grafts or even hearts, with artificial alternatives.
The polypill is its latest breakthrough and offers hope to those at high risk for multiple illnesses. Able to hold multiple drugs simultaneously with different start times for each pill, it aims to maintain quality treatment while decreasing the cost associated with medications.
7. Virtual Reality
VR can be an incredible aid in treating serious mental or physical illnesses. Many healthcare organizations use virtual reality simulations in therapy sessions with doctors or therapists; the immersive nature of virtual worlds may help patients overcome anxiety.
VR devices can also play an invaluable role in training doctors and nurses. VR technology, specifically, creates virtual environments that enable medical students and experts to practice different skills multiple times without ever physically practicing them in a real setting.
VR conferences allow medical practitioners to experience further what it's like being disabled or elderly patients themselves and gain a greater insight into what life might be like for patients without access.
VR, although still somewhat obscure, can be extremely effective for surgeon training. Although virtual reality cannot recreate real surgery with 100% accuracy yet, many in the medical industry still believe this issue will eventually be overcome, and VR can provide realistic training simulators to train surgeons with realistic simulations.
8. Hospital Management Systems
While improving population health is certainly beneficial, hospital management systems (HMSs) allow healthcare providers to focus on clinical workflows rather than improving them as an entire population.
HMS software assists hospitals and clinics with streamlining administrative, medical, financial, and legal processes. Ultimately, the goal of hospital management systems should be improved user experience as well as reduced operational costs, without which medical centers would struggle with managing massive workloads alone.
9. Blood Bank Management System
A blood bank management app could be used as a web application to store, retrieve, process, and analyze information regarding blood stored at local blood banks.
This system features lists of donors, blood cells, and inventory that help ensure high-quality bags remain safe; additionally, it will alert users if any blood groups become scarce, so it can act as an invaluable aid for patients undergoing surgical operations that necessitate transfusions afterward.
10. Patient Scheduling Software
Virtual health care has grown increasingly popular, yet physicians must still visit patients' homes or clinics.
There is software that makes scheduling appointments for diagnoses and checkups on-site easier for doctors while making them feel satisfied with the service provided. For instance, EHRs provide patient details, which makes arranging visits even simpler. It makes an easier reminder for checkups while making patients happier about getting medical help when needed.
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Conclusion
Technology has transformed both business management and medical care. At the same time, Healthcare Software Solutions, Software in Healthcare plays a vital role in many areas of medical practice.
They cover services, clinical operations, training programs, and research efforts; in case new diseases worsen global health status, technology provides better ways of improving global well-being.
