Healthcare Compliance Software Market: Introduction
- Healthcare compliance software is a cloud-based solution that helps health care organizations and physicians review, monitor, and manage compliance and risk. The healthcare compliance software provides support for Occupational Safety Health Administration (OSHA), HIPAA laws, and human resource compliance. The software manages, tracks, and shares compliance through a unified dashboard. Prime features of the platform include document management, an anonymous hotline, online documents distribution and attestation, URL reporting, incident reporting, and real-time updates. Furthermore, it comprises reminders, LEIE (List of Excluded Individuals/ Entities) database checks, and weekly email reports. The healthcare compliance software helps to maintain critical data with data, logs, and time stamps to help audit processes. Moreover, the software retains an online sample documents library up to date with automatic modifications.
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Global Healthcare Compliance Software Market: Dynamics
Global Healthcare Compliance Software Market: Key Drivers
- Rising demand to ensure safety of personnel at healthcare amenities is expected to drive the demand for healthcare compliance software. Increasing need to limit healthcare costs, hospital-acquired infections, rising incidence of medical errors, and growing government initiatives to enhance patient outcomes and patient safety are key drivers of the healthcare compliance software market.
North America to Account for Major Share of the Global Healthcare Compliance Software Market
- In terms of region, the global healthcare compliance software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominated the global healthcare compliance software market in 2020 and is anticipated to showcase significant growth over the projected timeframe. The market in North America is expanding due to the move from on-premise solutions to healthcare IT solutions. The increased use of data analytics to streamline workflow at healthcare companies, improved patient safety, and presence of several market participants in the U.S. are some of the major drivers of the healthcare compliance software market in the region.
- Much of this increase is being driven by the growing patient population, rapid return on investment (ROI), and expanding government measures to improve patient safety and results in healthcare that significantly supports the healthcare compliance software market across Asia Pacific. Moreover, numerous healthcare companies in the Asia Pacific region are aggressively moving toward digitization in order to streamline their entire workflow and assure patient care and safety, which in turn has resulted in increased demand for healthcare compliance software to ensure improved patient care.
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Global Healthcare Compliance Software Market: Competitive Landscape
Key Players Operating in the Global Healthcare Compliance Software Market
Providers of healthcare compliance software solutions are implementing development strategies to enhance their presence and consolidate their share in the global healthcare compliance software market. Companies active in offering healthcare compliance software solutions have adopted major growth strategies such as product launches, partnerships & acquisitions, and forming regional and global distribution networks to increase their presence in the market.
Key players operating in the global healthcare compliance software market include:
- Accountable HQ
- AHM
- Allocate Global
- Cerner
- Change Healthcare
- Complete Medical Solutions
- Compliancy Group
- ComplyAssistant
- Contract Guardian
- ConvergePoint
- DRG Claims Management
- ECFS
- Healthicity
- HIPAA Solutions
- Verge Solutions
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