The North America Healthcare Technology Management Market is expected to witness market growth of 10.3% CAGR during the forecast period (2022-2028).
Emerging computer-assisted coding systems that encourage and support collaboration between the coding industry and doctors are broadening coders' capacity to include more providers, hence enhancing the value coders can provide to medical groups. Healthcare technology that allows coders and physicians to collaborate and communicate more easily opens up new possibilities for more comprehensive diagnostic testing and fewer administrative obstacles for both coders and providers.
Every aspect of the healthcare experience is being enhanced with the use of technology. Natural language processing (NLP) and healthcare machine learning are examples of artificial intelligence in healthcare that are assisting administrative teams in streamlining patient workflows. Everyone's email contained over 90% spam and only a small proportion of relevant messages, developing trust in the process rapidly. Due to various modern technology, the best NLP software for healthcare can now discover a cash equivalent between false detection, culminating in well over 90% accurate suspects. When the advice is supplied with better than 90% certainty, coders and physicians are more likely to trust the conclusions that NLP suggests.
Healthcare providers are currently looking for ways to streamline their operations, particularly in terms of planning and healthcare billing for virtual care. For the purpose of patient privacy, providers require greater and more advanced cybersecurity safeguards and encryption as the use, transmission, and availability of digital health information grows. Platforms that interface with Prescribe IT, Canada's national e-prescription system, might be a lucrative market.
The advancement of chronic illnesses and an ageing population are driving up demand in Canada's healthcare industry. Total healthcare expenditures in 2018 was estimated to be over CDN$255 billion, up 4.2 percent from the previous year. Government healthcare spending accounts for more than a quarter of Canada's GDP. The three biggest causes of death, cardiovascular, cancer, and respiratory disorders, will receive the majority of this funding. The public sector pays for healthcare services, while the private sector provides these services in Canada's hybrid public-private healthcare system. Each province and territory in Canada is responsible for its healthcare system. As a result, the structure, operation, and procurement of healthcare varied per province.
The US market dominated the North America Healthcare Technology Management Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $14,247.6 million by 2028. The Canada market is experiencing a CAGR of 9.1% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 12% during (2022 - 2028).
Based on Type of Services, the market is segmented into Maintenance & Repair, Integrated Software Platform, Cyber Security, Capital Planning, Quality & Regulatory Compliance, Labor Management, and Supply Chain (Procurement). Based on Facility Type, the market is segmented into Acute care facility, Post-Acute Care Facility, and Non-Acute care Facility. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., ABM Industries, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Sodexo S.A., Crothall Healthcare, Inc., TriMedx, LLC, Agility, Inc., Renovo Solutions, and JANNX Medical Systems, Inc.
Emerging computer-assisted coding systems that encourage and support collaboration between the coding industry and doctors are broadening coders' capacity to include more providers, hence enhancing the value coders can provide to medical groups. Healthcare technology that allows coders and physicians to collaborate and communicate more easily opens up new possibilities for more comprehensive diagnostic testing and fewer administrative obstacles for both coders and providers.
Every aspect of the healthcare experience is being enhanced with the use of technology. Natural language processing (NLP) and healthcare machine learning are examples of artificial intelligence in healthcare that are assisting administrative teams in streamlining patient workflows. Everyone's email contained over 90% spam and only a small proportion of relevant messages, developing trust in the process rapidly. Due to various modern technology, the best NLP software for healthcare can now discover a cash equivalent between false detection, culminating in well over 90% accurate suspects. When the advice is supplied with better than 90% certainty, coders and physicians are more likely to trust the conclusions that NLP suggests.
Healthcare providers are currently looking for ways to streamline their operations, particularly in terms of planning and healthcare billing for virtual care. For the purpose of patient privacy, providers require greater and more advanced cybersecurity safeguards and encryption as the use, transmission, and availability of digital health information grows. Platforms that interface with Prescribe IT, Canada's national e-prescription system, might be a lucrative market.
The advancement of chronic illnesses and an ageing population are driving up demand in Canada's healthcare industry. Total healthcare expenditures in 2018 was estimated to be over CDN$255 billion, up 4.2 percent from the previous year. Government healthcare spending accounts for more than a quarter of Canada's GDP. The three biggest causes of death, cardiovascular, cancer, and respiratory disorders, will receive the majority of this funding. The public sector pays for healthcare services, while the private sector provides these services in Canada's hybrid public-private healthcare system. Each province and territory in Canada is responsible for its healthcare system. As a result, the structure, operation, and procurement of healthcare varied per province.
The US market dominated the North America Healthcare Technology Management Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $14,247.6 million by 2028. The Canada market is experiencing a CAGR of 9.1% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 12% during (2022 - 2028).
Based on Type of Services, the market is segmented into Maintenance & Repair, Integrated Software Platform, Cyber Security, Capital Planning, Quality & Regulatory Compliance, Labor Management, and Supply Chain (Procurement). Based on Facility Type, the market is segmented into Acute care facility, Post-Acute Care Facility, and Non-Acute care Facility. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., ABM Industries, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Sodexo S.A., Crothall Healthcare, Inc., TriMedx, LLC, Agility, Inc., Renovo Solutions, and JANNX Medical Systems, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Type of Services
- Maintenance & Repair
- Integrated Software Platform
- Cyber Security
- Capital Planning
- Quality & Regulatory Compliance
- Labor Management
- Supply Chain (Procurement)
By Facility Type
- Acute care facility
- Post-Acute Care Facility
- Non-Acute care Facility
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- General Electric (GE) Co.
- ABM Industries, Inc.
- Siemens Healthineers AG
- Koninklijke Philips N.V.
- Sodexo S.A.
- Crothall Healthcare, Inc.
- TriMedx, LLC
- Agility, Inc.
- Renovo Solutions
- JANNX Medical Systems, Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Healthcare Technology Management Market by Type of Services
Chapter 5. North America Healthcare Technology Management Market by Facility Type
Chapter 6. North America Healthcare Technology Management Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- General Electric (GE) Co.
- ABM Industries, Inc.
- Siemens Healthineers AG
- Koninklijke Philips N.V.
- Sodexo S.A.
- Crothall Healthcare, Inc.
- TriMedx, LLC
- Agility, Inc.
- Renovo Solutions
- JANNX Medical Systems, Inc.
Methodology
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