The healthcare workforce management system market has seen robust growth, rising from $1.91 billion in 2023 to $2.13 billion in 2024, achieving a CAGR of 11.9%. This growth is driven by labor shortages, compliance requirements, and cost containment measures. The market is expected to expand to $3.55 billion by 2028, at a CAGR of 13.6%. Future growth factors include telehealth expansion, work-life balance initiatives, and interoperability needs. Key trends include the adoption of cloud-based solutions, development of patient-centered staffing models, and predictive analytics for workforce planning.
Major Driver In The Healthcare Workforce Management System Market
The healthcare workforce management system market is experiencing growth due to the increasing need to control healthcare costs. These systems assist healthcare facilities in managing workforce schedules, payrolls, time and attendance, recruiting, budgeting, and reporting, addressing challenges in staff management arising from fluctuations in inpatient and outpatient numbers. Manual processes often lead to errors in staff scheduling and payment, posing challenges for management. Workforce management systems address these issues by efficiently managing service demand, labor allocation, and staff scheduling to enhance productivity. QGenda, a US-based provider, launched ProviderCloud in March 2022, offering a scheduling-centric provider operations platform for healthcare. This platform enables healthcare organizations to gain comprehensive visibility into their workforce and actionable data for quality patient care. The market is expected to grow as the healthcare industry seeks effective ways to manage costs, with anticipated expansion in 2023, 2024, and 2028.
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Healthcare Workforce Management System Market Competitive Landscape
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.
Key Healthcare Workforce Management System Market Trend
Advancement and integration of new technologies is a crucial trend in the healthcare workforce management system market. Technologies like Cloud, IoT, and AI are improving customer experiences across the healthcare sector. Automation is aiding healthcare facilities in managing multi-care hospitals efficiently, and connected devices are enhancing workforce management and productivity while reducing operational costs. For instance, in January 2021, Zyter launched Zyter Smart Hospitals, an intelligent solution connecting hospitals' data systems, departments, people, and IoT devices on Zyter’s digital communication platform. This solution promotes efficient facility operations and cost reduction through smart energy management.
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Healthcare Workforce Management System Market Segmentation
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
By Geography:The regions covered in the healthcare workforce management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the healthcare workforce management system market in 2023.
The Healthcare Workforce Management System Global Market Report 2024 furnishes information about the global healthcare workforce management system market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
