Global Hospital Operational Efficiency Solutions

Global Hospital Operational Efficiency Solutions

Visionary Perspectives for Medtech to Help Health Systems Improve Operational Efficiencies and Achieve Transformational Growth

RELEASE DATE
26-Aug-2022
REGION
Global
Research Code: K809-01-00-00-00
SKU: HC03575-GL-MR_26827
$2,450.00
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SKU
HC03575-GL-MR_26827
$2,450.00

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Description

Hospitals are complex to manage and historically have faced various inefficiencies. After the COIVD-19 pandemic took a toll on hospitals’ financial resources and human capital, efficiency has become a major focus. Automated solutions are key to supporting already strained staff (reeling under shortages and burnout) and enhancing processes, which boosts efficiency and improves operating margins.

While hospitals have clinical, operational, and financial efficiency needs, automated solutions have served the financial side for quite some time. Clinical efficiency solutions are complex, requiring regulatory approvals and clinical acceptance for adoption. Operational efficiency solutions, however, are an opportune area—not just for health IT vendors and start-ups, but even for medtech vendors. Today’s competitive medtech vendors, like GE Healthcare, continue exploring operational aspects of patient flow and capacity management (enterprise-wide or department-specific) while working to streamline workflows for their existing devices to reduce the non-clinical workload on hospital staff.

In the broader operational efficiency space, the four major areas of improvement today are workforce management and support, patient flow and capacity management, resources scheduling and utilization optimization, and inventory management. While the latter three are somewhat established markets, the first has yet to make its mark. With burnout issues prevalent across global hospitals, we see the following tech-enabled solutions addressing this need: improved staffing (scheduling automation, credentialing, and on-boarding), improved communication and collaboration, streamlined documentation solutions, task and workload distribution (virtual care and remote patient monitoring), and finally, automation solutions to help reduce administrative workload for clinicians.

This study covers the broader hospital operational efficiency imperative, opportunities for medtech and health IT vendors to leverage and build a loyal customer base, target use cases for hospital efficiency, value propositions by type of health system, and the big picture of how health systems view and demand efficiency solutions today. It provides a revenue forecast for the workforce management (scheduling automation) space and the workforce support (hospital logistics robots) space, along with growth opportunities for the broader ecosystem of stakeholders.

The study period is 2021–2026. The geographic scope is global and covers North America, Europe, Asia-Pacific, and Rest of the World. However, because the digitalization of hospitals is more prominent in Western markets, this study will indicate the potential that other regions have to adopt operational automation in hospitals and the benefits this automation provides.

Author: Siddharth Shah

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Hospital Operational Efficiency Solutions Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Hospital Operational Efficiency Solutions: Scope of Analysis

Hospital Management Areas

Hospitals Account for a Large Proportion of Total Healthcare Expenditure Globally; Administrative Expenses Are a Major Cost

Efficiency Is Vital to Reducing Healthcare Costs

Areas Amenable to Technology Adoption to Achieve Hospital Efficiency

Hospital Operational Efficiency Application Ecosystem

Hospital Operational Efficiency Application Description

Hospital Operational Efficiency Application Description (continued)

Hospital Operational Efficiency Application Description (continued)

Application Technology Stack

Overview of the State of the Industry

Overview of the State of the Industry (continued)

Overview of the State of the Industry (continued)

Broader Hospital Efficiency Use Cases and Vendor Ecosystem

Growth Drivers for Hospital Operational Efficiency Solutions

Growth Restraints for Hospital Operational Efficiency Solutions

Medtech Industry Evolution in Context of Hospital Efficiency

What Hospital Operational Efficiency Should Mean for Medtech

Defining the Desirable Digital Healthcare Platform Structure

Medtech Platform Plays

Recent Medtech Acquisitions for Operational Efficiency

Target Use Cases for Hospital Efficiency

Target Approaches for Efficiency Solutions

Hospital Needs Assessment

Hospitals’ Criteria for Selecting Digital Solutions

Hospital Efficiency: A Complex Paradigm

An Unmet Need is Forcing Health Systems to Build Solutions Themselves: A Big Opportunity for Vendors

Advata

Interactivity and Access to Business Intelligence

Growth Opportunity 1: Operational Efficiency Solutions on Medtech Platforms

Growth Opportunity 1: Operational Efficiency Solutions on Medtech Platforms (continued)

Growth Opportunity 2: Healthcare Automation Initiatives

Growth Opportunity 2: Healthcare Automation Initiatives (continued)

Growth Opportunity 3: Hospital Inventory Management Solutions

Growth Opportunity 3: Hospital Inventory Management Solutions (continued)

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Hospitals are complex to manage and historically have faced various inefficiencies. After the COIVD-19 pandemic took a toll on hospitals’ financial resources and human capital, efficiency has become a major focus. Automated solutions are key to supporting already strained staff (reeling under shortages and burnout) and enhancing processes, which boosts efficiency and improves operating margins. While hospitals have clinical, operational, and financial efficiency needs, automated solutions have served the financial side for quite some time. Clinical efficiency solutions are complex, requiring regulatory approvals and clinical acceptance for adoption. Operational efficiency solutions, however, are an opportune area—not just for health IT vendors and start-ups, but even for medtech vendors. Today’s competitive medtech vendors, like GE Healthcare, continue exploring operational aspects of patient flow and capacity management (enterprise-wide or department-specific) while working to streamline workflows for their existing devices to reduce the non-clinical workload on hospital staff. In the broader operational efficiency space, the four major areas of improvement today are workforce management and support, patient flow and capacity management, resources scheduling and utilization optimization, and inventory management. While the latter three are somewhat established markets, the first has yet to make its mark. With burnout issues prevalent across global hospitals, we see the following tech-enabled solutions addressing this need: improved staffing (scheduling automation, credentialing, and on-boarding), improved communication and collaboration, streamlined documentation solutions, task and workload distribution (virtual care and remote patient monitoring), and finally, automation solutions to help reduce administrative workload for clinicians. This study covers the broader hospital operational efficiency imperative, opportunities for medtech and health IT vendors to leverage and build a loyal customer base, target use cases for hospital efficiency, value propositions by type of health system, and the big picture of how health systems view and demand efficiency solutions today. It provides a revenue forecast for the workforce management (scheduling automation) space and the workforce support (hospital logistics robots) space, along with growth opportunities for the broader ecosystem of stakeholders. The study period is 2021–2026. The geographic scope is global and covers North America, Europe, Asia-Pacific, and Rest of the World. However, because the digitalization of hospitals is more prominent in Western markets, this study will indicate the potential that other regions have to adopt operational automation in hospitals and the benefits this automation provides. Author: Siddharth Shah
More Information
Author Siddharth Shah
Industries Healthcare
No Index No
Is Prebook No
Keyword 1 Hospital Operational Efficiency Solutions
Keyword 2 Global ORM Solutions Market
Keyword 3 Improving Hospital Operational Efficiency
Podcast No
WIP Number K809-01-00-00-00