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Graying Population To Benefit Global Healthcare Workforce Management Systems Market Growth

|Includes: Meridian Resource Corp. (TMR)

A new report published by Transparency Market Research delves on the current state of the healthcare workforce management system market. The report is titled, "Healthcare Workforce Management Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023."

The use of a dedicated system to manage the workforce in healthcare institutions has only recently become widespread. Such systems address several commonly faced problems such as talent retention, tracking pay rates and shift differentials, and so on. As organizations strive to fix these problems and streamline operations, the role of healthcare workforce management systems will be difficult to ignore.

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Some of the advantages afforded by such systems include: streamlining of communication between staff and management, boosting employee satisfaction, reducing payroll-related errors, and overall improvement in productivity. Healthcare organizations have now begun to appreciate the importance of deploying an end-to-end solution to manage their employees, both onsite and remote. This creates a solid foundation for the growth of the healthcare workforce management systems market. This report segments the global healthcare workforce management systems market on the basis of factors such as end users, software type, and geography.

The growth of the market for healthcare workforce management systems is directly proportional to the performance of the overall healthcare industry. The latter has shown consistent growth year on year thanks to population graying, consumerism in the healthcare industry, and emergent models of healthcare delivery. As things stand currently, all factors point toward a promising future for the healthcare industry globally. More people entering the 60+ year age threshold will contribute indirectly to the growth of healthcare workforce management systems market. The World Health Organization, for instance, expects the number of those in the geriatric age group to reach 2 billion worldwide by 2050. The graying population is increasing most rapidly in countries such as the United Kingdom, the United States, and Japan.

Besides these indirect growth factors, the market will be impacted by a few direct drivers as well. The imposition of regulatory mandates, for instance, will make it necessary for healthcare organizations to invest in dedicated systems to manage their human resources. Moreover, the market now features a number of healthcare workforce management systems that smaller organizations will be able to afford. This will result in higher sales of such systems. Yet, digitizing the management of healthcare organizations will heighten data security risks, leading a few organizations to defer an investment in healthcare workforce management systems.

This market is most widespread in North America thanks to the greater awareness levels that exist among healthcare organizations and also their ability to spend on workforce management systems. Europe follows with a sizeable share in the global healthcare workforce management systems market. Although Asia Pacific still remains untapped, it will be the center of growth in the coming years.

From the competitive standpoint, companies with an established presence in the market for healthcare workforce management systems are: Infor, Inc., Mckesson Corporation, Kronos, Inc., Cornerstone Ondemand, Inc., Automatic Data Processing, Inc., and Workday, Inc.

Full Research Report on Global Healthcare Workforce Management Systems Market: