Global Assisted Living Software Market 2017-2021
About Assisted Living Software
Assisted living facilities use software solutions to manage the comfort, security, and satisfaction of their residents. Assisted living software helps assisted living facilities to improve communication with residents and their families. The software also improves the quality of the services provided by the facility. It helps facilities with functions such as appointment scheduling, resource allocation, and documentation of services provided.
Technavio’s analysts forecast the global assisted living software market to grow at a CAGR of 9.20% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global assisted living software market for 2017-2021. To calculate the market size, the report considers new installations, sales, volume, and value.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Assisted Living Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global assisted living software market: American Healthtech, Yardi Systems, RealPage, PointClickCare, and MatrixCare.
Other Prominent Vendors in the market are: AL Advantage, Assisted Living Soft, Caremerge, Carevium, CareVoyant, Dude Solutions, ECP, Eldermark, iCareManager, Medtelligent, and VITALS SOFTWARE.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased adoption of analytics in assisted living software. Big data and analytics is gaining popularity in the assisted living industry as a wide variety of analytical and statistical modeling tools are being used in facilities to get structured and meaningful insights about operations. The assisted living care provider organizations are generating a massive amount of data, such as resident health information records and non-clinical data, such as administrative and financial data.”
According to the report, one driver in the market is 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. 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.
Further, the report states that one challenge in the market is threat from open-source assisted living software. The global assisted living software market has open-source vendors that provide a range of business analytic tools and applications. The open-source assisted living software can be downloaded and run on all platforms. As the purchasing and licensing costs of the commercial MPMS is high, numerous small- and medium-sized facilities and individual users prefer open-source products, which are freely available on the Internet.
American Healthtech, Yardi Systems, RealPage, PointClickCare, MatrixCare, AL Advantage, Assisted Living Soft, Caremerge, Carevium, CareVoyant, Dude Solutions, ECP, Eldermark, iCareManager, Medtelligent, and VITALS SOFTWARE.
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