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Patient Engagement SaaS: EHR Platforms Expanding Reach into Patient Engagement

2 Min Read

By Stephanie Merchant - Client Services Manager

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The U.S. Patient Engagement Solutions market includes technology and software, such as electronic health record (EHR) platforms, that solve administrative burdens in healthcare. Many EHR systems also integrate with patient-facing portals, manage billing, payments, doctor and patient communication, check-ins, and more. This market has seen substantial transformation since the COVID-19 pandemic, with the introduction of new technologies that allow for remote patient care and monitoring. Many EHR companies are seeing this growth as an opportunity to increase their patient engagement solutions. 

From 2023 to 2030, this market is expected to see a 15.3% growth rate with a market cap of over $40 billion.1 As EHR becomes more universal and the standard of patient care rises, so do the investment opportunities.  

The trend toward Software as a Service (SaaS) for patient engagement is based on several factors: 

  • Growing adoption of digital health technologies, such as telemedicine platforms, mobile health devices, and remote patient monitoring. This market is highly fragmented and competitive, however, EHR platforms have a big advantage over stand-alone patient engagement vendors as health care providers look to improve efficiency and consolidate their systems.2 
  • Healthcare consumerism, a movement that empowers patients to take greater control of their healthcare decisions, is driving demand for more patient engagement solutions. Patients are demanding more value and are shopping for care providers like any other good or service. Big tech companies can potentially disrupt this market with innovative technology that better allows users to manage their health. For example, Amazon just announced a new telehealth service as a way to provide more transparent pricing and easier access to healthcare.3 
  • Supportive government initiatives that incentivize healthcare providers to adopt solutions that improve patient engagement. One of the most well-known initiatives is the Electronic Health Record Incentive Program (also known as “Meaningful Use”) which incentivizes healthcare providers to use certified EHR technology to improve patient care.  

Investor Insights 

Apex anticipates clients will continue to show an interest in SaaS applications for healthcare. Many investors are also interested in​:​​     ​​​ 

  • ​​​​The r​ecurring revenue model of SaaS, which provides a reliable and consistent source of income. ​     ​​​ 
  • The potential for growth and adoption among international markets, as investments in digital health become a priority worldwide. 
  • Emerging innovations in predictive models for healthcare and AI-driven diagnostics. 
  • IT solutions that solve for data privacy and compliance concerns when managing sensitive patient data. 
  • The rise in demand for a “microservices” architecture within healthcare IT platforms, which focuses on API-driven communication and allows for real-time data sharing. 

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