Report: Home care on rise in EU, interoperability needed
Europe’s patient population is moving toward long-term care and home care from hospitals and other clinical settings, and nursing and residential care services are on the rise, according to analysis from market research firm Frost & Sullivan.
The report, released this month, found care management markets in Europe earned revenues of $203.1 million in 2008 and estimates this will reach $694.4 million in 2015. Stand-alone systems and integrated care management systems were covered in the research, the company reported.
“The increasing number of care homes in Europe and the rising adoption rates of management systems by them boost the prospects of care management markets in Europe,” said Frost & Sullivan Industry Analyst S. Priyan. “The value proposition offered by care management systems lies in their ability to offset the shortage of nursing staff, thus expanding the potential of the market.”
The increasing demand for care homes due to a rapidly aging demographic also promotes market prospects, according to Frost & Sullivan. This is being reinforced by the growing costs of healthcare services in long-term care hospitals, the report concluded.
However, the report noted that the operating costs of care homes threaten the uptake of care management systems. Interoperable and easily upgradable systems from vendors could decrease integration and upgrading costs for care homes, the firm suggested.
“Care management solutions should be easily interoperable with other solutions from the same vendor or other vendors,” Priyan said. “This would help limit integration and upgrading costs for care homes. It would also ensure that data migration and integration will be easily achievable.”
The report, released this month, found care management markets in Europe earned revenues of $203.1 million in 2008 and estimates this will reach $694.4 million in 2015. Stand-alone systems and integrated care management systems were covered in the research, the company reported.
“The increasing number of care homes in Europe and the rising adoption rates of management systems by them boost the prospects of care management markets in Europe,” said Frost & Sullivan Industry Analyst S. Priyan. “The value proposition offered by care management systems lies in their ability to offset the shortage of nursing staff, thus expanding the potential of the market.”
The increasing demand for care homes due to a rapidly aging demographic also promotes market prospects, according to Frost & Sullivan. This is being reinforced by the growing costs of healthcare services in long-term care hospitals, the report concluded.
However, the report noted that the operating costs of care homes threaten the uptake of care management systems. Interoperable and easily upgradable systems from vendors could decrease integration and upgrading costs for care homes, the firm suggested.
“Care management solutions should be easily interoperable with other solutions from the same vendor or other vendors,” Priyan said. “This would help limit integration and upgrading costs for care homes. It would also ensure that data migration and integration will be easily achievable.”