The global healthcare workforce management system market size is expected to grow from $1.52 billion in 2021 to $1.73 billion in 2022 at a compound annual growth rate (CAGR) of 13.8%. The global healthcare workforce management systems market size is expected to grow to $2.86 billion in 2026 at a CAGR of 13.3%.
What is the Global Healthcare Workforce Management System Market?
The healthcare workforce management system market consists of sales of healthcare workforce management systems and related services by entities (organizations, sole traders, and partnerships) that are 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. Workforce management is a process that aims to improve an organization's performance and competency levels. 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.
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What drives the Global Healthcare Workforce Management System Market?
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 of managing the hospitals' 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 of the services, and allocate the labor and staff efficiently to increase productivity. Companies are developing such software for efficient workforce management. For instance, in November 2019, Hospital IQ, a US-based operations management platform, launched a new workforce management solution, the industry's first to use advanced AI-enabled analytics and workflows to help staffing managers better align staff to anticipated patient demand. So, the increasing need to curtail healthcare costs through effective management of the healthcare workforce is contributing to the growth of the market.
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Global Healthcare Workforce Management System Market Segments
The global healthcare workforce management system market is segmented:
By Software: Time and Attendance, HR and Payroll, Talent Management, Analytics
By Solution: Software, Services
By Mode of Delivery: Web-Based, Cloud-Based, On-Premise
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 Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Healthcare Workforce Management System Global Market Report 2022provides market size and growth forecasts for the global healthcare workforce management system market, global healthcare workforce management system market share, healthcare workforce management system market segments and geographies, healthcare workforce management system market competitive landscape including leading competitors’ revenues, profiles and market shares. The healthcare workforce management system market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Healthcare Workforce Management System Industry Playersinclude Ultimate Software Group Inc., Cornerstone Ondemand Inc., Atoss Software, Workday Inc., IBM Corporation, GE Healthcare, ADP LLC, Mckesson Corporation, Kronos Inc., Oracle Corporation, Timeware, Allocate, Workforce Software Group Inc., Nice Systems, and ActiveOps. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
