Healthcare Workforce Management System Market Size, Share, & Trends Analysis Report By Solution (Software, Services), By Mode Of delivery (Web & Cloud Based, On-Premise), By End-Use, By Region, And Segment Forecasts, 2024 - 2030

Healthcare Workforce Management System Market Growth & Trends

The global healthcare workforce management system market size is anticipated to reach USD 4.5 billion by 2030 and is anticipated to expand at a CAGR of 13.2% during the forecast period, according to a new report by Grand View Research, Inc. As the healthcare industry continues to shift toward value-based care models and cost optimization, the demand for workforce management solutions is expected to increase over the forecast period. With the aid of technological advancements such as mobile applications, cloud-based workforce management software, and artificial intelligence-driven analytics, healthcare facilities have been able to significantly improve their workforce management capabilities and operations.

The market is expected to witness growth driven by the increasing burden of non-labor expenses in hospital and healthcare settings. A Kaufman Hall report estimated a one-year expense increase of USD 49 billion for hospitals and health systems due to rising non-labor expenses alone. Since 2019, non-labor expenses have surged by 16.6% on a per-patient basis, emphasizing the need for comprehensive healthcare workforce management solutions that extend beyond traditional staffing concerns.

Moreover, several companies are engaging in partnerships, mergers, acquisitions, and expansion strategies to enhance their market position. For instance, Accenture collaborated with UKG Inc. in January 2023 to assist Ardent Health Services in improving visibility and agility in its workforce operations. Ardent Health Services is implementing changes to improve the work-life experiences of frontline employees through flexible scheduling solutions. The collaboration aims to support Ardent in transforming its workforce management, resulting in better employee experiences, operational optimization, and the creation of new business value.

Healthcare Workforce Management System Market Report Highlights

• Based on the solution, the software segment dominated the market with a revenue share of over 68% in 2023 and is expected to witness the fastest growth during the forecast period. This segment is divided into standalone and integrated software. In terms of standalone software, the time and attendance management segment accounted for the largest revenue share in 2023, owing to the increasing demand for cost optimization in the healthcare industry
• Based on mode of delivery, web & cloud-based segment dominated the market with the largest revenue share of over 62% in 2023, owing to its flexibility, cost-saving benefits, and ease of operations
• Based on the end use, the hospital segment accounted for the largest revenue share, over 36% in 2023, owing to the increasing adoption of healthcare workforce management system to reduce cost, improve workforce management in hospital facilities
• North America region held the largest market share of over 38% in 2023. This can be attributed to various factors such as increasing healthcare expenditure and growing technological adoption in clinical and hospital settings in the region
• In April 2023, Symplr, a healthcare operation service and software manufacturer launched its Midas Care Management solution for the healthcare sector. This innovative solution is designed to help healthcare providers effectively manage their staffing and recruiting processes, allowing them to streamline operations and improve overall efficiency.

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