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Master patient index (MPI) is an imperative and critical component of every healthcare or hospital facility center. MPI software is useful to manage a huge database of patients. MPI software is the main specialty build in the electronic health record (HER) to keep a universal identity of patients at the organizational level. MPI assists in connecting patient records from different databases and lessens data duplication of patients. MPI also aids to avoid inaccuracy of data resulting in inappropriate treatments.
Constant developments in the healthcare sector motivate healthcare providers to adopt healthcare IT solutions for securing easy workflow. MPI software allocates a unique identification number to every patient, and this number enables to maintain, accurate and consistent information of every patient, thereby providing automatic management of patients’ data.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome corona virus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
The global outbreak of COVID-19 leads to an ongoing downturn of the healthcare market. Apart from communities, COVID-19 was equally disastrous for major world economies, especially the healthcare sector. Prominent stakeholders are continuing to adapt their strategies to the rapidly changing situation. COVID-19 is projected to have significant long-term impacts on the healthcare industry. Countries and major players would have to undertake critical healthcare changes until the crisis takes a back seat.
Technological progress, cost containment, and increased access are projected to be an integral part of healthcare reforms in the near future. Digital health and telehealth have taken a front seat in the ongoing outbreak. COVID-19 re-emphasized the importance of remote diagnosis, care, and consultation. Over the past few years, regulatory and behavioral barriers have slowed Telehealth growth. However, since many healthcare providers are currently working on video conferencing and telephone calls, the segment is anticipated to experience growth over the next two years. The social distancing measures also mandated online consultation of patients with moderate symptoms. In addition, it greatly reduced the burden on hospitals already swamped by counts of COVID-19 patients. Medical IoT devices that live at home with patients are now being used for optimizing outpatient treatment and minimizing repeat visits, and these devices can be further used in a crisis situation. The pandemic led to severe resource constraints. This is expected to result in the development of competitive pricing and value-based pricing models, which boosts the growth of the master patient index software market.
Top Impacting Factors
Master Patient Index Software Market Trends
New product launches to flourish the market
In June 2020, Life Image and NextGate, declared a strategic collaboration to address the increasing demand for efficient imaging workflow integration.
In August 2020, Sheba Medical Center and Allscripts have developed a collaboration to enhance the pace of artificial intelligence technology and increase patient safety through the hospitals' ARC Innovation Center. ARC, which stands for accelerate, reinvent, and collaborate, is Sheba Medical Center's research arm, to transform healthcare by 2030.
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Questions answered in the master patient index software Report
Key Market Segments
Key Market Players