The global hospital workforce management market is expected to grow significantly, reaching a projected value of US$4,209.5 million by 2033. Its strong Compound Annual Growth Rate (CAGR) of 10.6% from its projected value of US$1,533.2 million in 2023 is reflected in this notable surge.
To ensure optimal staffing levels, streamlined workflows, and improved patient care delivery, hospitals and other healthcare facilities must practice efficient workforce management. Hospital workforce management solutions comprise various software and services intended to enhance workforce productivity and satisfaction, optimize resource allocation, and automate scheduling.
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Hospital workforce management solutions are essential for improving patient care delivery, streamlining operations, and optimizing staffing levels in healthcare facilities. These solutions cover a wide range of tools and techniques, such as workforce analytics, time and attendance monitoring, and scheduling, all geared toward effectively managing healthcare staff.
Many important factors are responsible for the expected growth in the global hospital workforce management market. The adoption of advanced workforce management solutions is being driven by the growing need for improved patient care outcomes as well as the necessity of hospital efficiency and cost-effectiveness. In order to improve overall operational efficiency, hospitals and other healthcare facilities are realizing more and more how important it is to optimize staffing levels, minimize administrative burdens, and guarantee regulatory compliance.
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Leading Players in Hospital Workforce Management Market:
The industry is dominated by a number of companies, including IBM Corporation, Atoss Software, McKesson Corporation, GE Healthcare, Kronos, Inc., SAP AG, Infor, Inc., Automatic Data Processing, Inc., Cornerstone On-demand, Inc., and Ultimate Software Group, Inc. The focus among the players is on offering distinctive product experiences in order to attract a larger clientele. In addition, various expansion tactics like joint ventures to fortify supply chains, acquisitions, and distribution networks are also utilized.
- In October 2021, Microsoft announced the launch of a new health IT tool to assist healthcare administrators in frontline workforce management because of better overall healthcare metrics.
- GE Healthcare, one of the pioneers in the hospital workforce management domain, offers a wide range of services, from digital solutions, which include asset performance and clinical performance management, to healthcare technology management, site planning, and interoperability.
- SAP offers the Workforce Suite for Healthcare, which is effectively used as a SaaS solution and can be integrated with SAP Cloud using standard SAP-approved interfaces and APIs. In addition, the interface achieves operational performance levels of 99.5%
Key Segments Covered in the Hospital Workforce Management Industry Report
By Product Type:
- Standalone Software
- Time and Attendance
- HR and Payroll
- Scheduling
- Talent Management
- Analytics
- Others
- Integrated Software
By Service:
- Implementation Services
- Support and Maintenance
- Optimization Services
- Training/Education Services
By Mode of Delivery:
- Web-based
- Cloud-based
- On-premise
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East & Africa Market
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