Overview and Scope
Healthcare workforce management is a process that aims to improve an organization’s performance and competency levels. Healthcare workforce management is used to manage the healthcare workforce, tracking and scheduling, accounting and payroll management of the workforce, managing time and attendance of the workforce on daily basis. In the fields of service management, performance and training management, recruiting, budgeting, forecasting, scheduling, and reporting, workforce management in healthcare offers a variety of features and automated processes.
Sizing and Forecast
The healthcare workforce management system market size has grown rapidly in recent years. It will grow from $1.91 billion in 2023 to $2.13 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to labor shortages, compliance requirements, focus on patient satisfaction, cost containment, population health management, demand for real-time data.
The healthcare workforce management system market size is expected to see rapid growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to telehealth expansion, focus on work-life balance, interoperability needs, emphasis on continuing education, rise of healthcare consumerism, value-based payment models. Major trends in the forecast period include cloud-based workforce management solutions, patient-centered staffing models, mobile workforce solutions, predictive analytics for workforce planning, data-driven decision-making.
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Segmentation & Regional Insights
The healthcare workforce management system market covered in this report is segmented –
1) By Software: Time And Attendance, HR And Payroll, Talent Management, Analytics
2) By Solution: Software, Services
3) By Mode Of Delivery: Web-Based, Cloud-Based, On-Premise
4) By End User: Nursing Homes, Long-Term Care Centers, Hospitals, Other Healthcare Institutions
North America was the largest region in the healthcare workforce management system market in 2023. The regions covered in the healthcare workforce management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising need to curtail healthcare costs of the healthcare workforce is contributing to the growth of the healthcare workforce management system market. Healthcare workforce management solutions help healthcare facilities to manage the workforce schedules, payrolls, time and attendance, recruiting, budgeting and reporting. Most of the time healthcare facilities face challenges in managing the hospital’s staff due to a surge in the number of inpatients and outpatients. These tedious manual processes lead to errors in the scheduling of the staff, and payments of staff based on their shifts were also a big challenge for management. The workforce management system helps hospital management to manage the demand for services, and allocate labor and staff efficiently to increase productivity. Companies are developing such software for efficient workforce management. For instance, in March 2022, QGenda, a US-based provider of operations, and healthcare workforce management platform, launched ProviderCloud, a scheduling-centric provider operations platform for healthcare. Using these platforms, healthcare organizations of all sizes can gain holistic visibility into their entire workforce, along with the actionable data necessary to deliver quality patient care. So, the increasing need to curtail healthcare costs through effective management of the healthcare workforce is contributing to the growth of the market.
Key Industry Players
Major companies operating in the healthcare workforce management system market report are Mckesson Corporation, The International Business Machines Corporation, Oracle Corporation, GE Healthcare, ADP LLC, Cerner Corporation, Workday Inc., Epic Systems Corporation, Infor Inc., Nice Systems, Kronos Inc., Allscripts Healthcare Solutions Inc., Athenahealth Inc., eClinicalWorks, NextGen Healthcare Information Systems LLC, SYMPLR, Cornerstone Ondemand Inc., QGenda LLC, Greenway Health LLC, Atoss Software, AdvancedMD Inc., Allocate Software, Workforce Software Group Inc., OSP Labs, Strata Decision Technology LLC, Kareo Inc., DrChrono Inc., ActiveOps plc, Timeware, Ultimate Software Group Inc.
The healthcare workforce management system market report table of contents includes:
- Executive Summary
- Healthcare Workforce Management System Market Characteristics
- Healthcare Workforce Management System Market Trends And Strategies
- Healthcare Workforce Management System Market – Macro Economic Scenario
- Global Healthcare Workforce Management System Market Size and Growth
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- Global Healthcare Workforce Management System Market Competitive Benchmarking
- Global Healthcare Workforce Management System Market Competitive Dashboard
- Key Mergers And Acquisitions In The Healthcare Workforce Management System Market
- Healthcare Workforce Management System Market Future Outlook and Potential Analysis
- Appendix
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