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The hospital administration software assists in minimizing medication errors and streamlining various medical procedures. Manual operations such as managing employee payroll and calculating patient bills have been automated by hospital administration software. Furthermore, it offers benefits such as increased profitability, effective cost control, enhanced patient care, better control and administration, and improved operations management. The global hospital administration software market is expected to expand at a healthy CAGR over the forecast period of 2017-2025.
The global hospital administration software market is most likely to gain attraction from the market players due to escalating inclination towards advancements in cloud-hosted models and patient-centric care approach. The cost cutting availed through the implementation of this software is motivating end-use segments to adopt advanced software solutions. Furthermore, various governments are offering incentives to healthcare institutes to improve their facilities. These trends are collectively boosting the market for hospital administration software.
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However, interoperability issues pertaining to the integration of hospital administration software and high time and cost required for installation are the key concerns of numerous healthcare facilities. Furthermore, the threat of cyber-attacks, which may result into data theft could hinder the market growth. Nevertheless, prominent players are continuously innovating their solutions, which is expected to overcome all these restraining factors. This report provides a complete guide to various such trends that are positively or negatively affecting the overall market.
Geographically, the global hospital administration software market can be segmented into North America, Asia Pacific, Europe, and Rest of the World. North America held a significant share in the market as it boasts a well-developed health infrastructure. The market for hospital administration software in North America is forecast to expand at a healthy CAGR due to advanced web-based support systems and emergence of cloud computing. The hospital administration software market in Europe is also anticipated to grow at a high pace due to favorable government policies and the adoption of changing technology.
Contributions of developing countries such as Singapore, Australia, China, and India, are most likely to help the market of Asia Pacific to grow at a significant pace. The rising medical tourism, increasing consumer spending, and improving healthcare IT infrastructure are a few of the prominent factors augmenting the growth of the market in this region. This report covers the regional aspects of this market and helps the readers to understand growth trajectories of this market in various regions.
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Some of the players in the global hospital administration software market are focusing on technological advancements and innovations to strengthen their competitive strength. These players include Siemens Healthcare, McKesson Corporation, Medical Information Systems Inc., Carestream Health, Koninklijke Philips N.V., e-MDs Inc., GE Healthcare, Cerner Corporation, eClinicalWorks, Agfa Healthcare, Athenahealth Inc., Accurate Info Soft Pvt. Ltd., Accumedic Computer Systems, and Allscripts Healthcare Solutions Inc., and others.
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