New York, Oct. 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Hospital Outsourcing Global Market Report 2022” – https://www.reportlinker.com/p06351354/?utm_source=GNW
, Flatworld Solution, Integrated Medical Transport, ABM Industries Inc., Abbott Laboratories, 3M Company (3M Health Information Systems), and TriMedx LLC.
The global hospital outsourcing market is expected to grow from $281.37 billion in 2021 to $325.94 billion in 2022 at a compound annual growth rate (CAGR) of 15.8%. The hospital outsourcing market is expected to grow to $526.86 billion in 2026 at a CAGR of 12.8%.
The hospital outsourcing market consists of the sale of hospital outsourcing services by entities (organizations, sole traders, and partnerships) that help hospitals focus on their core operations and services, including clinical diagnosis, medical care, and nursing support.Hospital outsourcing is a process in which some processes of a hospital are assigned to another vendor or a smaller facility that has expertise and specialization in the specific area.
This helps to provide support to hospital processes and smooth running of the hospitals.
The main types of hospitals in the hospital outsourcing market are private and public.A private hospital refers to a hospital that is not owned by the government, these hospitals provide various types of services and activities conducted for the development and smooth function of hospitals.
The various sizes of hospitals include small and medium hospitals and large hospitals that provide several services such as healthcare IT, clinical services, business services, transportation services, and others. The various end-users include nursing homes and assisted living, specialty hospitals, general medical and surgical hospitals, emergency and other outpatient care centers, and others.
North America was the largest region in the hospital outsourcing market in 2021. The regions covered in the hospital outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The hospital outsourcing market research report is one of a series of new reports that provides hospital outsourcing market statistics, including hospital outsourcing industry global market size, regional shares, competitors with a hospital outsourcing market share, detailed hospital outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the hospital outsourcing industry. This hospital outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The increase in diabetic patient flow in hospitals is expected to propel the growth of the hospital outsourcing market going forward.Hospitals opt for outsourcing services when there is an increase in patients and the hospital infrastructure is not capable of handling a large number of patients.
This is a result of the rise in chronic illnesses including diabetes, cardiovascular disease, and others, which are increasing the number of patients being admitted to hospitals and, eventually, placing greater pressure on medical procedures.For instance, according to International Diabetics Federation (IDF) report, a Belgium-based diabetic organization, in the year 2021, approximately 537 million adults in-between the age group 20-79 years were living with diabetes and it is estimated to rise to 643 million by 2030 and 783 million by 2045.
Therefore, the increase in diabetic patient flow in hospitals is driving the growth of the hospital outsourcing market.
Technology advancements have emerged as the key trend gaining popularity in the hospital outsourcing market.Major companies operating in the hospital outsourcing sector are focused on introducing technological innovations to sustain their position in the market.
For instance, in May 2020, HSG Advisors, a US-based national healthcare consulting firm launched an advanced Virtual Health consulting service, which can be used in hospitals, and healthcare systems.This virtual health service helps doctors to visit patients virtually for regular checkups.
This is based on AI (artificial intelligence) technology, which helps to book appointments easily and allocate time slots with doctors.
In March 2021, Omega Healthcare, a US-based company operating in outsourced revenue cycle management and other hospital support services, acquired Himagine Solutions Inc for an undisclosed amount.Through this acquisition, Omega Healthcare aims to expand its service capabilities and the ability to service clients globally with a more integrated end-to-end solution.
Additionally, Omega healthcare also aims to gain Himagine’s expertise in clinical documentation improvement (CDI) for coding audits, and chart abstraction for medical registries including United States cancer and trauma registries. Himagine Solutions Inc. is a US-based company that provides hospital outsourcing services such as medical coding, coding audit, registry management, and others.
The countries covered in the hospital outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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