CRM Systems to See Robust Growth in Healthcare
Market Research firm The Business Research Co. expects the global healthcare CRM market to grow from its current value of $15.04 billion to $25.65 billion in 2026 at a compound annual rate of 14.3 percent.
The healthcare CRM market consists of software and services to acquire, retain, and engage with patients and provide personalized services, combining data from numerous sources, such as consumer and patient demographics, psychographics, social, behavioral, clinical, financial, website, contact center, and provider credentialing, to give a thorough picture of patients' routines and activities.
The various applications involved are community outreach, health education, service promotion, financial donor management, care coordination, patient information management, pre-authorizations or eligibility, and others that are used by providers, payers, and the life science industry, the reearch firm said, adding that healthcare CRM software also handles a comprehensive patient database that is safely stored and inaccessible to outside parties.
The firm cited a recent study that found thaty CRM in healthcare reduces administrative errors by up to 30 percent.
Furthermore, more than 90 percent of hospitals will use electronic health records supplemented by CRM systems, offering and unifying communication capabilities for several concurrent patient engagements and giving users access to patient profiles, the copmpany said in its report.
Major players in the healthcare CRM market, according to the report, are Salesforce, Microsoft, Oracle, SAP, SugarCRM, Healthgrades Marketplace, Infor, Keona Health, Accenture, IBM, Cerner, Allscripts Healthcare, Amdocs, Alvaria,, Siemens Healthcare, Talisma, NICE, Verint, Veeva Systems, R1 RCM, Pegasystems, Sage Group, and Zoho
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