Visionary Perspectives for Medtech to Help Health Systems Improve Operational Efficiencies and Achieve Transformational Growth
26-Aug-2022
Global
Market Research
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
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
- Hospital Operational Efficiency Solutions: Hospital Management Areas, Global, 2021
- Hospital Operational Efficiency Solutions: Hospitals’ Percentage Consumption of Total Healthcare Expenditure for Select Countries, Global, 2013–2016
- Hospital Operational Efficiency Solutions: Administrative Expenses in Healthcare, US, 2019
- Hospital Operational Efficiency Solutions: Hospital Areas for Automation and Efficiency, Global, 2021
- Hospital Operational Efficiency Solutions: Overview of Hospital Operational Efficiency Application Ecosystem, Global, 2021
- Hospital Operational Efficiency Solutions: Hospital Operational Efficiency Application Definitions, Global, 2021
- Hospital Operational Efficiency Solutions: Hospital Operational Efficiency Application Technology Stack, Global, 2021
- Hospital Operational Efficiency Solutions: Hospital Efficiency Solutions Use Cases and Vendor Ecosystem, US, 2021
- Hospital Operational Efficiency Solutions: Growth Drivers, Global, 2022–2026
- Hospital Operational Efficiency Solutions: Growth Restraints, Global, 2022–2026
- Hospital Operational Efficiency Solutions: Medtech Industry Evolution in Context of Hospital Efficiency, Global, 2021
- Platform Approaches in Healthcare: Desirable Platform, Global, 2020–2021
- Hospital Operational Efficiency Solutions: Medtech Acquisitions to Support Operational Efficiency, Global, 2022
- Hospital Operational Efficiency Solutions: Hospital Efficiency Use Cases to Target, Global, 2021
- Hospital Operational Efficiency Solutions: Customizing Solutions for Health Systems by Profile, Global, 2021
- Hospital Operational Efficiency Solutions: Assessment of Hospital Operational Efficiency Solutions’ Target Provider Types, Global, 2021
- Hospital Operational Efficiency Solutions: Hospital Buying Decision Criteria for Digital Solutions, Global, 2021
- Hospital Operational Efficiency Solutions: Evolution from Operational to Hospital Efficiency, Global, 2021–2030
- Hospital Operational Efficiency Solutions: Examples of Health System and Vendor Solutions for Operational and Hospital Efficiency, US, 2021
- Hospital Operational Efficiency Solutions: Advata Case Study for Health System Efficiency Solutions, US, 2021
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| Deliverable Type | Market Research |
|---|---|
| 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 |
| List of Charts and Figures | Hospital Operational Efficiency Solutions: Hospital Management Areas, Global, 2021~ Hospital Operational Efficiency Solutions: Hospitals’ Percentage Consumption of Total Healthcare Expenditure for Select Countries, Global, 2013–2016~ Hospital Operational Efficiency Solutions: Administrative Expenses in Healthcare, US, 2019~ Hospital Operational Efficiency Solutions: Hospital Areas for Automation and Efficiency, Global, 2021~ Hospital Operational Efficiency Solutions: Overview of Hospital Operational Efficiency Application Ecosystem, Global, 2021~ Hospital Operational Efficiency Solutions: Hospital Operational Efficiency Application Definitions, Global, 2021~ Hospital Operational Efficiency Solutions: Hospital Operational Efficiency Application Technology Stack, Global, 2021~ Hospital Operational Efficiency Solutions: Hospital Efficiency Solutions Use Cases and Vendor Ecosystem, US, 2021~ Hospital Operational Efficiency Solutions: Growth Drivers, Global, 2022–2026~ Hospital Operational Efficiency Solutions: Growth Restraints, Global, 2022–2026~ Hospital Operational Efficiency Solutions: Medtech Industry Evolution in Context of Hospital Efficiency, Global, 2021~ Platform Approaches in Healthcare: Desirable Platform, Global, 2020–2021~ Hospital Operational Efficiency Solutions: Medtech Acquisitions to Support Operational Efficiency, Global, 2022~ Hospital Operational Efficiency Solutions: Hospital Efficiency Use Cases to Target, Global, 2021~ Hospital Operational Efficiency Solutions: Customizing Solutions for Health Systems by Profile, Global, 2021~ Hospital Operational Efficiency Solutions: Assessment of Hospital Operational Efficiency Solutions’ Target Provider Types, Global, 2021~ Hospital Operational Efficiency Solutions: Hospital Buying Decision Criteria for Digital Solutions, Global, 2021~ Hospital Operational Efficiency Solutions: Evolution from Operational to Hospital Efficiency, Global, 2021–2030~ Hospital Operational Efficiency Solutions: Examples of Health System and Vendor Solutions for Operational and Hospital Efficiency, US, 2021~ Hospital Operational Efficiency Solutions: Advata Case Study for Health System Efficiency Solutions, US, 2021~ |
| Podcast | No |
| WIP Number | K809-01-00-00-00 |
