Market Overview

Global Assisted Living Software Market - Key Drivers and Forecast from Technavio

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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.

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Technavio has published a new report on the global assisted living software market from 2017-2021. ( ...

Technavio has published a new report on the global assisted living software market from 2017-2021. (Graphic: Business Wire)

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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only:
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market snapshot before purchasing

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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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About Technavio

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.

If you are interested in more information, please contact our media team
at media@technavio.com.

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