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CRM in Healthcare Market to Grow by USD 11.3 Billion from 2024-2028, as Demand for Personalized Care Rises with AI Redefining the Market Landscape – Technavio

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NEW YORK, Nov. 8, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global customer relationship management (CRM) in healthcare market size is estimated to grow by USD 11.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 11.05% during the forecast period. Growing demand for personalized healthcare services and patient engagement solutions is driving market growth, with a trend towards growing adoption of cloud-based CRM solutions. However, high implementation costs and lack of interoperability with legacy systems in health CRM poses a challenge.Key market players include Accenture Plc, ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Amdocs Ltd., Anthology Inc., Freshworks Inc., Healthgrades Marketplace LLC, International Business Machines Corp., Kapture CRM, Keona Health Inc., Koch Industries Inc., Microsoft Corp., NICE Ltd., Oracle Corp., Salesforce Inc., SAP SE, Sapio Sciences LLC, Siemens AG, SugarCRM Inc., Verint Systems Inc., and Viseven Europe OU.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Software and Services), Deployment (On premises model and Web/cloud based model), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Accenture Plc, ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Amdocs Ltd., Anthology Inc., Freshworks Inc., Healthgrades Marketplace LLC, International Business Machines Corp., Kapture CRM, Keona Health Inc., Koch Industries Inc., Microsoft Corp., NICE Ltd., Oracle Corp., Salesforce Inc., SAP SE, Sapio Sciences LLC, Siemens AG, SugarCRM Inc., Verint Systems Inc., and Viseven Europe OU

Key Market Trends Fueling Growth

In today’s healthcare market, CRM plays a crucial role in managing patient relationships. Hippocrates once said, “The art of healing comes from nature, not from the physician.” However, in the modern healthcare environment, brands like Apple have shown that technology can enhance the patient experience. Healthcare officials and staff use CRM systems to manage patient engagement and patient management. These systems help collect and analyze patient demographics, habits, medical history, inquiries, locations, conditions, and preferences. Patient profiles include behavioral data from social profiles and medical history. CRM tools enable automated communications via emails, texts, and phone calls for appointment reminders, medication reminders, and precautions. CRM also facilitates account management, loyalty points, and rewards for patient retention. Healthcare providers and medical service providers use CRM for efficient patient care, adhering to healthcare security regulations. CRM systems store and manage patient records, medical bills, and claims data, ensuring data quality and privacy. CRM tools help healthcare organizations optimize workflows, improve compliance, and enhance communication with patients. Digital transformation and personalized care are key trends in CRM for healthcare, with e-CRM, PRM, HIT, and ICT playing significant roles. Data mining and social CRM help healthcare providers understand patient needs and preferences, leading to better care outcomes. 

The healthcare industry is witnessing a significant shift towards cloud-based Customer Relationship Management (CRM) solutions. These systems offer several advantages over traditional on-premise models, including scalability, flexibility, and cost-effectiveness. Healthcare practitioners can now manage patient relationships and access patient data from any location, at any time, using cloud-based CRM solutions. This is particularly beneficial in the context of remote and virtual patient care, which has gained popularity due to the COVID-19 pandemic. Moreover, cloud-based CRM solutions provide advanced privacy and security features to protect sensitive patient data. These features are crucial in the healthcare sector, where data security is paramount. In summary, cloud-based CRM solutions are driving growth in the healthcare market by offering accessibility, cost savings, and enhanced security. 

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Market Challenges

In the healthcare market, CRM plays a crucial role in managing patient relationships. Hippocrates may have mastered the art of medicine, but healthcare officials and staff face challenges in engaging and managing patients effectively. Brands like Apple lead the way with CRM systems, utilizing patient demographics, habits, and medical history from various sources. Patient inquiries, locations, conditions, and past diagnoses are crucial data points. CRMs help healthcare providers personalize communications, offering automated emails, SMS, and targeted campaigns. Patient preferences, language, and ailments are essential factors in account management. Brands can reward loyalty with points and rewards. CRMs can manage patient records, prescriptions, and medical bills, ensuring compliance with healthcare security regulations. Patient engagement is key to retention. CRMs can analyze behavioral data from social profiles, medical history, and lifestyle choices to offer personalized care. Healthcare organizations and systems benefit from electronic health records, claims data, and consumer data to streamline workflows and improve care outcomes. CRMs help healthcare providers offer productive, engaging, and personalized care. They ensure digital compliance, privacy, and HIPAA compliance. CRMs can also help medical centers, hospitals, and laboratories manage patient care efficiently, saving time and resources. Ultimately, CRMs help healthcare providers offer great service, improving the overall medical experience for patients.The healthcare industry’s adoption of Customer Relationship Management (CRM) systems faces two significant challenges: high implementation costs and incompatibility with legacy systems. Implementing a CRM solution requires substantial resources, time, and financial investment. Moreover, verifying CRM system compatibility with existing legacy systems is a time-consuming process. Healthcare organizations may struggle with these challenges, leading to data silos and inefficiencies. Patient data may not be easily shared between systems, making it difficult to provide a consistent view, which could impact patient treatment and outcomes.

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Segment Overview

This customer relationship management (crm) in healthcare market report extensively covers market segmentation by

Component1.1 Software1.2 ServicesDeployment2.1 On premises model2.2 Web/cloud based modelGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Software- The healthcare industry’s reliance on digital technology has significantly expanded the CRM market, particularly in healthcare. Patient data management, increased patient engagement, and improved provider communication are all facilitated by CRM software. This software’s popularity is driven by the emergence of cloud-based solutions and the increasing demand for personalized healthcare services. Effective data management and legal compliance are also necessitating software usage in the CRM sector. Moreover, the integration of AI and machine learning technologies enhances predictive analytics and decision-making capabilities. The growing adoption of mobile health apps and telemedicine services further fuels the demand for CRM software solutions. Overall, the CRM software component in healthcare presents promising growth opportunities throughout the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

In the healthcare market, CRM plays a crucial role in managing relationships with healthcare officials, staff, and patients. The CRM system in healthcare is an application of the ‘art of medicine’ in the digital age, using ICT to enhance patient engagement and management. Brands utilize e-CRM to streamline workflows, manage patient records, and analyze claims data and electronic health records for data mining and consumer insights. PRM and HIT are essential components of healthcare CRM, focusing on patient acquisition strategies and data quality. Social CRM allows for two-way communication between healthcare organizations and patients, fostering better relationships. Data security regulations are paramount in healthcare CRM, ensuring the confidentiality of medical bills and patient records. Yina, Soltani and Navimipour’s research the importance of CRM in healthcare, highlighting its potential to revolutionize patient care and improve healthcare systems.

Market Research Overview

In the healthcare market, CRM plays a crucial role in managing patient engagement and patient management. The art of medicine has evolved, with healthcare officials and staff utilizing CRM systems to gather and analyze patient data, including patient habits, activities, demographics, social profiles, behavioral data, medical history, inquiries, locations, conditions, physicians, preferences, past diagnoses, language, ailments, family members, and family medical history, among others. Brands like the iconic Apple are entering the healthcare scene with CRM solutions. Patient information is the backbone of these systems, with data mining and social CRM essential for enhancing service and engagement. Data quality is paramount, with IS, PRISMA, and other healthcare providers ensuring compliance with healthcare security regulations. Patients receive personalized communications through automated emails, SMS, and other channels, earning loyalty points and rewards. Patient inquiries, prescriptions, phone calls, precautions, reports, prior treatment, and previous doctor information are all tracked, ensuring productive and engaging care. Healthcare organizations and systems benefit from CRM by improving patient retention, digital compliance, and personalized care. Electronic health records, claims data, patient records, and consumer data are integrated into workflows, ensuring compliance with privacy regulations such as HIPAA. CRM solutions enable healthcare providers to deliver great service, enhance medical experience, and optimize patient acquisition strategies. Digital transformation is key to delivering patient-centric solutions and improving care outcomes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareServicesDeploymentOn Premises ModelWeb/cloud Based ModelGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Seedtag ANZ (formerly JustEggs) Strengthens APAC Presence with Two Senior Leadership Hires

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Based in Sydney, the new Commercial and Trading Directors of ANZ will focus on growing the Seedtag business and optimising privacy-first advertising solutions in Australia and New Zealand

SYDNEY, Nov. 25, 2024 /PRNewswire/ — Seedtag, the global contextual advertising company, entered the ANZ market earlier this year with the acquisition of JustEggs. Today, the company announced two new senior leadership hires, based in the Sydney office, to strengthen its presence in the region. In his new position as Commercial Director ANZ, Mark Brownie will focus on launching and growing the Seedtag business in Australia and New Zealand, while Daniel Macinante, Trading Director ANZ, will lead and develop trading strategies across ANZ, focusing on optimising contextual advertising solutions. Both Mark and Daniel will directly report to Nik Kontoulas, Seedtag’s Managing Director ANZ, and former CEO and Founder of JustEggs.

AI-powered advertising across the globe

Headquartered in New York City and Madrid, Seedtag has a global team of over 600 people with offices in EMEA, LATAM, North America, and APAC. In July 2024, Seedtag entered the ANZ market with the acquisition of JustEggs, an Australian-owned creative intelligence business. Strengthening its presence in the APAC market, Australia and New Zealand now benefit from Seedtag’s privacy-first advertising solutions that reach consumers based on their real-time interests at scale.

At the core of Seedtag’s success is Liz, its proprietary contextual AI technology, optimised for advertising across screens. Powered by machine learning and computer vision, Liz analyses contextual signals to gain a nuanced, human-like understanding of content. At an unmatched speed, it aligns ads with people’s current interests, processing millions of articles in a day. With over 10 years of development, Liz is a sophisticated platform that offers clients and agencies an innovative, privacy-compliant approach to audience targeting that remains unaffected by evolving technology and regulatory changes. In 2024, Liz was honoured by Digiday as the “Best Contextual Targeting Offering” in the Digiday Media Awards.

Expertise as the foundation for growth

As Commercial Director ANZ, Mark Brownie brings 20 years of media experience and long-standing industry relationships. He has a deep understanding of the evolving digital landscape and recognises the vital role of contextual advertising in client addressability, especially with the increasing focus on privacy compliance. Before this role, Mark spent 3 years as general manager of digital revenue at News Corp Australia and 4 years in New York as global VP of commercial strategy for Storyful, a News Corp business. He also has extensive experience in startups and scaling businesses in digital media.

“Contextual advertising has never been more important for marketers,” said Mark. “In a time where privacy-centric strategies aren’t just innovative, they’re necessary, Seedtag brings the most sophisticated and effective contextual advertising platform to Australia. To be a part of such an incredible and established global company, and being trusted to launch and scale it in the Australian market is both humbling and exciting.”

As Trading Director ANZ, Daniel Macinante brings a deep understanding of media sales and programmatic advertising, along with a proven track record of success. With over 9 years of experience in the media industry, he has built a reputation for driving results and innovation. Macinante swiftly progressed to leadership roles at News Corp Australia, where he held the position of Group Sales Director for independent agencies. Daniel’s passion for independent agencies is well-known across the industry, and he has consistently championed their value. As a dedicated member of the Independent Media Agencies of Australia (IMAA), Daniel has played an active role in advocating for these agencies.

“Contextual advertising is rapidly becoming a cornerstone of the digital marketing ecosystem, and I’m eager to bring my expertise to Seedtag to help shape the future of this space in Australia,” stated Daniel. “With the increasing importance of privacy-first solutions, contextual advertising will be crucial in providing brands with the tools they need to connect with audiences in a meaningful, non-intrusive way.”

“As we aim to scale and enhance our privacy-first solutions across APAC, the invaluable expertise of Mark and Daniel will be essential,” said Dal Gill, VP of New Markets at Seedtag. “I’m confident that our unique contextual advertising solutions are significantly helping ANZ brands and publishers achieve their advertising goals while addressing the need for privacy-first, scalable targeting.”

About Seedtag

Seedtag, the global contextual advertising company, specializes in privacy-first advertising throughout the open web and CTV, powered by its contextual AI, Liz. Seedtag enables brands and agencies to discover the most relevant audience interests using a sophisticated contextual graph fueled by contextual data from +10,000 premium publishers. This capability ensures advertisers reach their audience at the right moment, with the right message. Utilizing the power of context to achieve advertisers’ aims across the customer journey, Seedtag creates innovative advertising solutions for everyone.

Founded in 2014, Seedtag has its headquarters in New York City and Madrid, with a global team of +600 people and offices in EMEA, LATAM, North America, and APAC.

 

 

View original content:https://www.prnewswire.com/apac/news-releases/seedtag-anz-formerly-justeggs-strengthens-apac-presence-with-two-senior-leadership-hires-302314184.html

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Bernard Looney Appointed Chairman of the Board of Directors at Prometheus Hyperscale

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Global energy executive joins Prometheus Hyperscale to accelerate sustainable data center growth and provide strategic counsel on $10B flagship project in Evanston, Wyoming

HOUSTON, Nov. 24, 2024 /PRNewswire/ — Prometheus Hyperscale, a leading developer of sustainable hyperscale data centres, is delighted to announce the appointment of Bernard Looney as Chairman of the Board of Directors.

Mr. Looney, former CEO of BP, brings to the role more than three decades of energy sector expertise – from the frontline to the boardroom. He will provide strategic guidance on the development of the company’s growth plans, including its $10B flagship data center in Evanston, Wyoming, which will be among the largest facilities of its kind in the world when completed.

The announcement of Mr. Looney’s appointment comes as societies and large technology companies grapple with how to power the explosive growth in artificial intelligence (AI). The International Energy Agency (IEA) estimates that by 2026 data centers globally will use over 1,000 terawatt-hours (TWh) annually, around the same as Japan uses today. Against this backdrop of soaring demand and squeezed supply, Prometheus is pioneering new standards in hyperscale data center operations.

These approaches include harnessing a variety of energy sources to power its data centers, including renewables, natural gas and possibly nuclear at a later date through our strategic partnership with Oklo. Prometheus aims for its data centers to not impact grid customers.

Another key challenge is the enormous amount of power and water used to cool data centers to prevent the servers from overheating. Prometheus Hyperscale uses a unique liquid cooling system that dramatically outperforms traditional air-cooling methods, reducing energy consumption by up to 50%. This system also utilises deep underground water reservoirs and captures the waste heat to reuse or sequester it. It’s believed that Prometheus Hyperscale’s flagship project will be the first hyperscale data center in the United States to combine liquid heat transfer and heat reuse technologies.

Founded by Trenton Thornock, an experienced leader in energy, finance and infrastructure, Prometheus Hyperscale’s flagship project in Evanston, Wyoming, promises to be the most advanced sustainable data center in the United States, and one of the largest in the world, when it becomes operational in 2025/26. The 1GW-capacity developed site will cover an area of 640-acres (one square mile), making it approximately three quarters the size of New York’s Central Park. Four further sites are currently earmarked across Arizona and Colorado.

As Chairman, Mr. Looney will ensure the successful execution of Evanston as well as Prometheus’s broader business goals. His appointment comes following the recent announcement that Trevor Neilson, a renowned climate technology entrepreneur and philanthropist, will serve as the company’s President.

It’s estimated that $1 trillion will be invested in the U.S. in data centers in the next five years – with an additional $1 trillion internationally.

Trenton Thornock, Founder and CEO of Prometheus Hyperscale commented: “Having Bernard Looney join as Chairman is a tremendous step forward for Prometheus. Bernard’s track record and transformative leadership in the energy sector aligns perfectly with our vision for the future of data centers. His insights, as well as his extensive operational and project delivery experience, will be invaluable as we bring our flagship project in Evanston, Wyoming to life and set new benchmarks for sustainable digital infrastructure.”

Trevor Neilson, President of Prometheus Hyperscale, commented: “Bernard is the perfect person to guide Prometheus as we form partnerships across the energy sector to access low-carbon electrons that will power the future of AI. His extensive industry experience and leadership will be instrumental as Prometheus establishes itself at the forefront of sustainable data center operations.”

Bernard Looney commented: “I am delighted to join Prometheus Hyperscale at this pivotal moment as the world grapples with the intersection of AI, Energy and Sustainability. Innovative power solutions are desperately needed to ensure that AI is unleashed to tackle some of the biggest global challenges including healthcare, economic growth, and the energy transition. We must work to find solutions that lead to Net Positive AI – where the benefits to our world outweigh any costs. The flagship Evanston project is one such solution and I look forward to lending a helping hand, working alongside Trenton, Trevor, and the entire Prometheus team to help bring this vision to life. I can’t imagine a more exciting challenge.”

Factsheet: Prometheus Hyperscale’s Flagship Project in Evanston, Wyoming

Prometheus’s site in Evanston, Wyoming, aims to redefine sustainable infrastructure in the data center industry, setting a new benchmark for operational excellence and environmental responsibility.

Key aspects of the project include:

Extensive Land and Power Capacity: The project encompasses a 12,000-acre ranch, including a dedicated 640-acre plot (about 1 square mile) for data center facilities. Prometheus has secured an initial 120 MW of grid power through Rocky Mountain Power, with plans for an additional 120 MW, ensuring robust power availability without curtailment risks.

On-Site Renewable and Low-Carbon Power Generation: With an on-site generation goal of over 1 GW, which will make it one of the largest data centers in the world, Prometheus is incorporating a mix of wind, solar and gas power sources. Additionally, the company has a strategic partnership with Oklo focused on next-generation fission-based nuclear power, delivering reliable, sustainable baseload energy to the campus.

High-Performance Fiber Connectivity: The Evanston site will connect directly to the Northern transcontinental fiber trunk, offering high-speed, low-latency connections between the East and West Coasts. With agreements for up to 400G of service and plans to scale up to 800G when commercially available, the project is poised to meet the rigorous connectivity needs of AI, cloud, and high-performance computing clients and to be one of the biggest data centers in the world.

Cutting-Edge Liquid Cooling Technology: Prometheus’s unique liquid cooling systems will be deployed to achieve unparalleled energy efficiency by capturing and reusing waste heat. This innovative solution is specifically engineered for high-performance computing environments and will play a critical role in reducing the carbon footprint of the facility.

Strategic Location and Access to Skilled Labor: Located 80 miles from Salt Lake City, Utah, the Evanston site benefits from proximity to a large, skilled workforce, bolstered by a regional Journeyman Lineman program focused on data center operations. This strategic location supports the project’s operational and expansion goals while reinforcing Prometheus’s commitment to regional economic growth.

For more information about Prometheus Hyperscale and its sustainability initiatives, please visit www.prometheushyperscale.com.

About Prometheus Hyperscale

Prometheus Hyperscale, founded by Trenton Thornock, is revolutionizing data center infrastructure by developing sustainable, energy-efficient hyperscale data centers. Leveraging unique, cutting-edge technology and working alongside strategic partners, Prometheus is building next-generation, liquid-cooled hyperscale data centers powered by cleaner energy. With a focus on innovation, scalability, and environmental stewardship, Prometheus Hyperscale is redefining the data center industry for a sustainable future.

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Sixth Avenue Custom Millwork Launches Revamped Website to Enhance Client Experience

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Sixth Avenue Custom, a premier provider of custom millwork services for both home and business owners, has launched a revamped website designed to offer a more streamlined user experience, showcasing their custom woodworking and millwork services.

FREDERICK, Md., Nov. 24, 2024 /PRNewswire-PRWeb/ — Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services. The updated website highlights the company’s dedication to creating high-quality custom cabinetry, millwork, and architectural details for residential and commercial clients while offering a modern, easy-to-navigate platform for users. As an industry leader in bespoke craftsmanship, Sixth Avenue Custom’s redesigned site now makes it even easier for potential clients to engage with their work.

Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services.

Six generations ago, Ezra Beachley began crafting high-quality furniture with unmatched precision and care. Now, his great, great, great grandson Ryan Beachley carries that same ethos forward with Sixth Avenue Custom, a company set on maintaining tradition while embracing the future. “Our model and process is not the ordinary way of doing things. It’s unique, it’s custom, it’s the Sixth Avenue Custom way,” said Ryan. This philosophy of blending old-world craftsmanship with modern tools and technologies is front and center on the newly launched website. The updated site offers an engaging, user-friendly experience and showcases the company’s vast portfolio of exquisite residential and commercial projects—from bespoke cabinetry to intricate architectural millwork.

The updated website also introduces responsive design features, ensuring visitors can easily access the company’s portfolio and services across any device, from desktops to smartphones. In addition to a more polished look and feel, the website now offers smoother navigation, allowing users to browse through service offerings, explore more content about the company’s process, and quickly request consultations. By including a dedicated blog and expanded resource sections, Sixth Avenue Custom aims to educate clients about the nuances of custom millwork, giving them the knowledge they need to make informed decisions for their spaces.

If you’re looking for outstanding custom millwork solutions, visit Sixth Avenue Custom to view the newly enhanced website or schedule a consultation for your next project. The company’s dedicated team continues to push the boundaries of design and woodworking, ensuring each project exceeds client expectations. To learn more, explore the site at https://sixthavenuecustom.com or call Sixth Avenue Custom at 301-327-1504. Sixth Avenue Custom is located at 5907 Enterprise Court, Frederick, Maryland, 21703.

Media Contact

Mai-Lan Spiegel, 321 Web Marketing, 1 7038107557, mailan@321webmarketing.comhttps://sixthavenuecustom.com/

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