Global long-term care software market projected to witness a CAGR of 11-13% in coming 5 yrs

BRUSSELS - May 16, 2023 - PRLog -- Long-term care software (https://meditechinsights.com/long-term-care-software-market/) is a solution that is used for management and support of long-term healthcare facilities such as nursing homes, assisted living facilities, hospices, and independent living services such as home healthcare services. Software includes Clinical Software (EMR/EHR, E-prescribing, Electronic Medical Administration Records, Clinical Decision Support Systems) and Non-Clinical Software [Real-time locating systems (RTLS), Billing, Invoicing, & Scheduling, Payroll Management].

Growing aging population is fuelling the long-term care software market demand

WHO has estimated that by 2030,  1/6 people in the world will be above 60 yrs. The trend will continue as developing countries see increased life expectancies.  Developed countries populations have significant elderly populations, for eg, 29% of population in Japan is over 65 yrs and similar trends are being observed in European countries. The UK saw dependency raising from 1/10 dependents to productive individuals at the introduction of the social state to 1/3 in the present day. These population imbalances drives long-term care software market as lower percentage of population are caring for more elderly patients.

Healthcare staff shortages is likely to drive long-term care software market demand because of necessity

Critical driver for long-term care software markets - There is a present shortage of over 1 million workers in the EU, this trend is set to continue. Similar churn from healthcare workers been seen in the US. Because of a shortage of healthcare staff, the time patients can be seen gets decreased. Long-term care software can reduce the time spend on individuals by healthcare professionals in a multitude of ways:

• Automating routine tasks: Long-term care software can automate routine tasks, such as medication management, scheduling, and billing. This can free up staff time and enable them to focus on higher-value tasks, such as patient care
• Improving communication and collaboration: Electronic health records (EHRs) let multiple providers to access and update patient records in real-time, decreasing the need for manual data entry and improving the accuracy of information. Centralized Patient Data Storage Eliminates the Need for Manual File Collection and Movement by Staff
• Enabling remote care: Remote Care (Telehealth or Telemedicine) Empowers Healthcare Professionals to Deliver Care and Monitor Patients Remotely. This is especially useful in areas where there are shortages of healthcare professionals. These Solutions Offer Cost Reductions in Healthcare, remove barriers to healthcare and often improve patient outcomes.

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