Long Term Post-Acute Care Software Market Trends

Growth Drivers

• Rising Usage of LTC Centers Globally - While some view long-term care (LTC) as a private matter, others view it as a shared responsibility, with family and friends typically giving unpaid care. Furthermore, societies have diverse interpretations of the idea of common, frequently state-led responsibility for long-term care, including differing views on the funding, provision, and regulatory responsibilities of governments. The ability to live longer with chronic illnesses and impairments because of medical technological advancements has raised the need for long-term care services. The number of people living alone has increased due to changes in demographics and lifestyles, which has increased the demand for long-term care services.
• Increasing Advancement in Healthcare Infrastructure Globally - Meanwhile, early lung cancer detection is made possible by a deep-learning algorithm created by the health tech startup Qure.ai. According to the company, research showing a 17% improvement over traditional radiological readings was made while interpreting chest X-rays with AI. It has partnered with pharmaceutical behemoth AstraZeneca intending to expand the technique to lower lung cancer death rates globally. AI is expected to be a key factor in simplifying healthcare procedures. It offers accuracy and efficiency in all areas, including patient care, operations, supply chain management, and administration. As healthcare businesses embrace eco-friendly techniques to address environmental problems and save costs, sustainability becomes increasingly important.
• Advancement in Medical Technology Globally - The fact that 3D printing and other medical testing devices significantly speed up production processes and lower the cost of conventionally created goods is one of its key advantages. The American Hospital Association claims that thanks to technology, the production of hearing aids may now be completed in just one day as opposed to more than a week. Since social factors and well-being are linked, remote technologies are transforming the way that healthcare is provided. They are going beyond providing medical treatments to include holistic social care. According to research conducted by Elevance Health last autumn, 79 percent of patients said that virtual primary care helped them take control of their health, and 94 percent of patients were satisfied with the service.

Challenges

• Rising Burnout Amongst Healthcare Professionals - The toll on our medical professionals is worrisome. COVID has claimed thousands of lives for them. Over 50% of healthcare professionals express signs of burnout, and a significant number are battling mental health issues such as sleeplessness, depression, anxiety, PTSD, or other mental health disorders. According to the Revision of the International Classification of Diseases (ICD-11), the term "burnout" can be used as a shorthand for a psychiatric condition that includes three dimensions: emotional exhaustion (EE), depersonalization (DP), and decreased sense of personal accomplishment (PA).The breadth of this shocking reality is demonstrated by recent statistics: a study carried out in partnership with the World Health Organization by the Qatar Foundation and the World Innovation Summit for Health (WISH) discovered that about 50% of healthcare personnel experience burnout. The percentage of burnout among healthcare workers rises to a concerning 66% when focusing on nurses and doctors, or two out of every three professionals.

• Lack of Knowledge in People

• Increasing Cost of Long-Term Care