Global Long-Term Care Software Market is set to witness a lucrative CAGR of 11-13% by 2027

BRUSSELS - May 10, 2023 - PRLog -- Long-term care software is used for management and support of long-term healthcare facilities such as nursing homes, assisted living facilities, hospices, and independent living services such as home healthcare services. Long-term care software includes Clinical Software (EMR/EHR, E-prescribing, EMAR, Clinical Decision Support Systems) and Non-Clinical Software [RTLS, Billing, Invoicing, & Scheduling, Payroll Management]

Growing Aging Population Drives the Demand of Long-Term Care Software Market

WHO estimates that by 2030, approximately 1/6th of people living in the world will be over 60 years old. This trend is poised to grow as developing countries have begin to see an increase in elderly age groups. In many developed countries, elderly population is already high and is growing rapidly.

Shortage of Healthcare Staff is Likely to Drive the Demand of Long-Term Care Software Market

A secondary key driver for the adoption of long-term care software is an increased level of churn being witnessed in the healthcare segment. Currently, there is a lack of over 1 million workers in EU and this trend is poised  to continue. Similar, churn from healthcare workers has been observed in USA. Long-term care software can reduce the time spend on patients by healthcare professionals in a number of ways:

• Automating Routine Tasks: Long-term care software can automate routine or daily tasks, such as medication management, scheduling, and billing.

• Improving Communication and Collaboration: Electronic health records (EHRs) allow many service providers to access and update patient records in real-time, thus reducing the need for manual data entry and improving the accuracy of data.

• Enhancing Remote Care: Remote care allows healthcare staff to provide patient care and monitor patients from away. This is useful in regions where there is a lack of healthcare workers. These long-term care solutions reduce healthcare costs and improves patient results.

North America to hold a Higher Share in the Long-Term Care Software Market

The global long-term care software market is growing strong in USA. Baby boomers (individuals born between 1946 and 1964) are a generation defined by a period of strong population growth which is now reaching an advanced age group.

Competitive Landscape Analysis: Long-Term Care Software Market

Some of the leading players operating in the global long-term care software market are Netsmart Technologies, MatrixCare, Cerner Corporation (Acquired by Oracle), WellSky, and PointClickCare.

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