U.S. Long Term Care Software Market – By Product (Clinical [EHR, eMAR, E-Prescribing], Non-Clinical [Real-Time Location, Remote Patient Monitoring, Payroll Management]), Mode of Deployment (Cloud-based, Web-based, On-premises), End-use & Forecast, 2024 – 2032

U.S. Long Term Care Software Market – By Product (Clinical [EHR, eMAR, E-Prescribing], Non-Clinical [Real-Time Location, Remote Patient Monitoring, Payroll Management]), Mode of Deployment (Cloud-based, Web-based, On-premises), End-use & Forecast, 2024 – 2032

U.S. Long Term Care Software Market Size

U.S. Long Term Care Software Market size was valued at USD 3.7 billion in 2023 and is expected to exhibit growth at a CAGR of 10.4% from 2024 to 2032. High market growth can be attributed to the increasing focus on improving the quality of care, ongoing advancements in healthcare technology, growing demand for efficient management, and rising geriatric population, among other contributing factors.

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Moreover, the U.S. is experiencing a notable rise in its elderly population, necessitating more long-term care services. For instance, according to the U.S. Census Bureau, the number of Americans aged 65 and older is projected to reach 80 million by 2040, up from 54 million in 2021. This demographic shift underscores the increasing demand for streamlined operations and enhanced patient care in long-term care facilities, propelling the adoption of LTC software.

Furthermore, ongoing advancements in healthcare technology, such as electronic health records (EHR), telehealth, and mobile health apps, are driving the use of long-term care software. These technologies make patient care more efficient and accurate, and they help caregivers communicate and coordinate better.

Long term care software includes digital tools that help manage long-term care facilities like nursing homes, assisted living communities, and home healthcare providers. These tools handle electronic health records, care planning, medication management, billing, and compliance tracking. They improve the efficiency, accuracy, and quality of patient care.
 

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U.S. Long Term Care Software Market Trends

The market is experiencing several notable trends that are shaping its growth and development. Factors such as growing adoption of cloud-based solutions, increased use of telehealth and remote monitoring, rising focus on data analytics and reporting, and surging need for integrated artificial intelligence (AI) in healthcare and machine learning, among other factors are propelling the industry growth.

• Further, there is growing trend of integrating software with EHR systems to ensure smooth data exchange and continuous care. This integration creates more complete patient records, improving care coordination between long-term care facilities and other healthcare providers.
• Additionally, there is an increasing focus on using data analytics and reporting features in LTC software. These advanced analytics provide insights into patient outcomes, operational efficiency, and regulatory compliance. Facilities can use this data to make informed decisions, optimize care plans, and improve overall performance, thereby driving the demand for long term care software.

U.S. Long Term Care Software Market Analysis

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• Long-term care facilities face stringent regulatory mandates from entities such as the Centers for Medicare & Medicaid Services (CMS) and the Health Insurance Portability and Accountability Act (HIPAA). To meet these requirements, they increasingly rely on clinical software solutions. These solutions, featuring electronic health records (EHRs), automated reporting, and robust data security measures, are essential for ensuring compliance.
• Additionally, clinical software is vital for managing chronic conditions, medication administration, and personalized care plans. With capabilities that include patient assessment, care planning, and real-time monitoring, clinical software not only enhances patient outcomes but also reduces hospital readmissions, thereby driving segment growth.

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Based on mode of deployment, the U.S. long term care software market is classified into cloud-based, web-based, and on-premises. The cloud-based segment dominated the market in 2023 with a market share of 45%.

• Cloud-based software offers scalability, allowing facilities to easily expand or reduce their software usage based on current needs. This flexibility is particularly beneficial for long-term care providers who may experience fluctuations in patient numbers or require additional features over time.
• Furthermore, these solutions reduce the need for extensive on-premise IT infrastructure, lowering initial capital expenditures. With a subscription-based model, facilities can manage their budgets more effectively, paying for only the services they use without the burden of maintenance and upgrades.

Based on end-use, the U.S. long term care software market is segmented into nursing homes, home healthcare agencies, assisted living facilities, and hospice & palliative care. The nursing homes segment dominated the market in 2023 and is anticipated to reach USD 4.2 billion by the end of forecast period.

• Nursing homes handle a lot of patient data, scheduling, billing, and other administrative tasks. Long-term care (LTC) software helps manage these tasks, reducing the workload and allowing staff to focus more on patient care. Automating routine tasks and managing resources better improves efficiency and saves money.
• Furthermore, the ability to collect and use data effectively is a major benefit. These software offers advanced analytics and reporting, helping nursing homes make informed decisions, identify trends, measure performance, and make improvements based on real-time data, leading to the segmental growth.

U.S. Long Term Care Software Market Share

The market is characterized by a many different players, including big healthcare IT companies, specialized software vendors, and new tech startups. Major players stand out by offering a range of products like EHR, care management systems, billing solutions, and integrated platforms. These products help with compliance, efficiency, and better patient care. Competition is based on technological innovation, easy-to-use interfaces, and smooth integration with other healthcare systems.

Companies also compete by offering customizable solutions, cloud-based services, and advanced analytics. They form partnerships with healthcare providers, focus on regulatory compliance, and meet the needs of an aging population. As the demand for long-term care solutions grows, the market will see more innovation and competition, with a focus on improving patient outcomes and operational efficiency.

U.S. Long Term Care Software Market Companies

Prominent players operating in the long term care software industry include

• AL Advantage, LLC
• Altera Digital Health Inc.
• Epic Systems Corporation
• Genexod Technologies LLC
• MatrixCare
• McKesson Medical-Surgical Inc.
• Meditab
• Netsmart Technologies, Inc.
• Oracle Corporation
• PointClickCare
• ResMed Inc.
• Revver, Inc.
• Veradigm Inc.
• VITALS SOFTWARE
• Yardi Systems, Inc.

Long Term Care Software Industry News

• In November 2023, Eldermark launched Eldermark NEXT, a comprehensive, next-generation software platform for senior living. Eldermark NEXT enables consumers to achieve and exceed their care and financial goals. This innovative solution is set to redefine standards in senior care, marking a significant advancement in the industry.
• In September 2022, RedSail Technologies introduced and deployed Axys under its Integra brand. Axys is a cloud-based medical management system designed specifically for long-term care. This strategic launch has significantly strengthened the company's position in the global market, showcasing its commitment to delivering cutting-edge solutions for healthcare management.

The U.S. long term care software market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments

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Market, By Product

• Clinical software
  • Electronic health records (EHR)
  • Electronic medication administration record (eMAR)
  • E-prescribing
  • Clinical decision support systems (CDSS)
  • Staff management
  • Other clinical software
• Non-clinical software
  • Billing, invoicing, and claims management
  • Payroll management
  • Remote patient monitoring systems
  • Talent management software
  • Real-time location systems
  • Other non-clinical software

Market, By Mode of Deployment

• Cloud-based
• Web-based
• On-premises

Market, By End-use

• Nursing homes
• Home healthcare agencies
• Assisted living facilities
• Hospice & palliative care