Patient Engagement Solutions Procurement Intelligence
In this Patient Engagement Solutions procurement intelligence report, we have estimated the total cost of ownership which includes components such as License cost/subscription fee, personnel, maintenance & upgradation, training & certification costs, support, and other costs. Other costs can be further bifurcated into utility costs, administrative expenses, renewal costs, data migration costs, and security.
Pricing models which are commonly used for the healthcare software offered in the category include subscription pricing, perpetual pricing, usage-based pricing, per-user pricing, and freemium pricing. An increasing number of healthcare providers are choosing cloud-based solutions due to their easy-to-use features and growing usage. Monthly and annual subscription licenses are offered by the implementation of subscription-based pricing. Smaller healthcare organizations frequently choose this payment because of its minimal upfront expenditures, which make it affordable. The perpetual price model is only chosen by large healthcare organizations due to high upfront expenses, and low recurring expenses as license fee which is paid only once in a year. Typically, traditional or enterprise software vendors are linked to this approach.
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Operational Capabilities - Patient Engagement Solutions
- Years in Service - 25%
- Industries Served - 15%
- Employee Strength - 15%
- Revenue Generated - 15%
- Geographical Service Provision - 10%
- Key Clientele - 10%
- Certifications - 10%
Functional Capabilities - Patient Engagement Solutions
Software
- Standalone Software - 17.5%
- Integrated Software - 17.5%
Hardware
- Assisted Devices - 6.5%
- In-Room Televisions - 6.5%
- Tablets - 6.5%
- Others - 6.5%
Services
- Implementation & Training - 7.5%
- Consulting - 7.5%
- Support & Maintenance - 7.5%
- Others - 7.5%
Deployment Mode
- Web / Cloud-based - 4.5%
- On-Premise - 4.5%
Rate Benchmarking
The pricing for different software solutions offered in the category is as follows:
a) Off-the shelf solution: The monthly subscription fees for off-the shelf solution ranges from USD 18.5 for simple feature sets to over USD 498.5 for sophisticated solutions.
b) Content management systems (CMS)-based solution: The price of CMS-based solution ranges between USD 39,500 to USD 49,500.
c) Custom-built solution: The price of a custom-built solution starts at USD 49,500.
The cost of developing a healthcare mobile application range between USD 19,500 to USD 24,500, without counting promotion and post-launch maintenance. However, this amount is not enough for complex problems. The platform (iOS / Android) that a company chooses to create its mobile app and the region that the custom mobile app development company is located in determines the cost of developing an application. The average hourly rate for an app development company in the US is between USD 149.5 to USD 249.5; in Europe, the average rate is between USD 84.5 to USD 149.5; and in India, the average rate is between USD 14.5 to USD 24.5.
Supplier Newsletter
In January 2024, Innovaccer Inc. announced the acquisition of Cured, Inc. Through this acquisition, Innovaccer will expand its clientele of over 94 customers to include over 19 health systems and digital health providers. In addition, the acquisition will support Innovaccer in demonstrating its continued dedication to provide Healthcare Experience Platform (HXP), thus, leading to enhanced patient experience with accelerated results.
In June 2023, Cardinal Health, Inc. announced of getting into a definitive agreement with Transaction Data Systems (TDS), a business owned by GTCR and BlackRock Long Term Private Capital. As a result of the transaction, a wide range of integrated pharmacy workflow software, patient engagement, and clinical solutions will be available to serve the needs of pharmaceutical companies, payers, pharmacies, and patients. This includes one of the biggest networks of over 39,900 grocery pharmacies, chain, and retail in the U.S.
In December 2022, Infomedia Group, Inc. (d.b.a Carenet Healthcare Services) announced the acquisition of Stericycle Communication Solutions. This acquisition has helped Carenet in strengthening its abilities in clinical, healthcare services, and payer space by the addition of provider-centric technology services such as inbound / outbound call-center services, automated messaging solutions, and online scheduling platforms.
List of Key Suppliers
- Athenahealth, Inc.
- GetWellNetwork, Inc.
- Infomedia Group, Inc. (d.b.a Carenet Healthcare Services)
- Innovaccer Inc.
- International Business Machines Corp. (IBM Phytel)
- IQVIA Inc.
- Lincor, Inc.
- McKesson Corporation
- Medisys, Inc.
- Oracle Corporation (Oracle Cerner)
- Orion Health Group Limited
- PatientPoint Network Solutions, LLC
- Veradigm LLC
- Vivify Health, Inc.
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Patient Engagement Solutions Procurement Intelligence Report Scope
- Patient Engagement Solutions Category Growth Rate : CAGR of 17.7% from 2023 to 2030
- Pricing Growth Outlook : 5% - 10% increase (Annually)
- Pricing Models : Subscription-based pricing, perpetual pricing, usage-based pricing, and freemium pricing
- Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
- Supplier Selection Criteria : Years in service, industries served, employee strength, revenue generated, geographical service provision, key clientele, certifications, software type, hardware type, services offered, deployment mode, and others
- Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
