LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global assisted living software market to grow to USD 255.44 million by 2021, at a CAGR of more than 9% over the forecast period, according to their latest report.
The research study by Technavio on the global assisted living software market for 2017-2021 provides a detailed industry analysis based on the deployment (on-premises and cloud) and geography (the Americas, EMEA, and APAC).
|Assisted living software is an application used to improve the communication with residents and their families, as well as to increase the quality of the services delivered. The assisted living software also ensures compliance with healthcare and safety regulations. The success of assisted living facilities to properly manage both the clinical and care management aspects is expected to drive the market growth.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global assisted living software market:
- Amplified demand for improved quality of care
- Increased demand for eMAR integration
- Need for workflow automation
Amplified demand for improved quality of care
“The quality of care provided greatly improves the quality of life for residents in senior living communities. Assisted living software helps the staff to consistently deliver and document individualized, resident-centered care, resulting in improved resident and family satisfaction,” says Ishmeet Kaur, a lead analyst at Technavio for enterprise application research.
Some of the key uses of the assisted living software include community-specific, role-based task lists for caregivers, communication on individual's everyday likes and dislikes, tracking scheduled and ad hoc services delivered, and management and tracking of medications administered. The provision for real-time resident and service plan information allows caregivers to focus their time and attention on the resident with accurate records and reliable documentation.
Increased demand for eMAR integration
In assisted living software with electronic medical administration records (eMAR) integration, medications, treatments, and supplements can be scheduled and tracked while avoiding paper records. Vital signs and blood glucose readings can also be captured using the assisted living software.
The benefits of the assisted living software with eMAR integration include their easy to use charting screens with alerts, medication inventory system, MAR Reports, and pharmacy interface. Additionally, the assisted living software consists of built-in features to mitigate risk, which can be used to keep track of orders for vitals, dietary requirements, medication, lab work, and treatment directions.
Need for workflow automation
“The assisted living software automates and streamlines paper processes with online forms and automated workflows. From incident reporting to revised policies, it can effectively track and manage pre-built forms and simple automated approval processes,” says Ishmeet.
Features of the assisted living software, such as resident evaluation, automatically link custom resident assessments to community care planning, guaranteeing that the appropriate care and billing levels are provided for each resident. It also alerts the concerned departments when a change of condition occurs, so revenue lost due to miscommunication between clinical and billing becomes null.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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