Patient Relationship Management (PRM) Statistics 2023 – Everything You Need to Know

Are you looking to add Patient Relationship Management (PRM) to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Patient Relationship Management (PRM) statistics of 2023.

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How much of an impact will Patient Relationship Management (PRM) have on your day-to-day? or the day-to-day of your business? Should you invest in Patient Relationship Management (PRM)? We will answer all your Patient Relationship Management (PRM) related questions here.

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Best Patient Relationship Management (PRM) Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 34 Patient Relationship Management (PRM) Statistics on this page 🙂

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Patient Relationship Management (PRM) Benefits Statistics

• The PRM market has expanded over the past 10 years, according to Gartner, providing more use and benefits for companies that rely on partner relationships. ^[0]

Patient Relationship Management (PRM) Market Statistics

• Forrester estimates that the PRM market is only 50% penetrated, so the target addressable market is closer to $802 million. ^[1]
• Forrester predicts the PRM software market to grow to $889 million by 2025, a compound annual growth rate of 14.2 percent. ^[1]
• The PRM market has expanded over the past 10 years, according to Gartner, providing more use and benefits for companies that rely on partner relationships. ^[0]
• According to Research and Markets, the Global RPM systems market is projected to be worth over $1.7 billion by 2027, up nearly 128% from the opportunity the market currently represents. ^[2]
• And the global RPM systems market is projected to be worth over $1.7 billion by 2027, up nearly 128% from the $745.7 million opportunity the market currently represents, according to Research and Markets. ^[2]

Patient Relationship Management (PRM) Software Statistics

• Only 17 percent of respondents using PRM software don’t have a recall program in place. ^[3]
• Forrester predicts the PRM software market to grow to $889 million by 2025, a compound annual growth rate of 14.2 percent. ^[1]

Patient Relationship Management (PRM) Latest Statistics

• In an unprecedented move, the U.S. Department of Health and Human Services announced a goal to have 90 % of traditional Medicare payments tied to value by 2018. ^[4]
• Overall, 83 percent of those who use some kind of PRM technology in their organization say that it facilitates better communication with patients. ^[3]
• The majority, 62 percent, said patients were more engaged. ^[3]
• With no show rates ranging from 10 to 30 percent on average, it makes sense that this remains such a high priority for many. ^[3]
• A recent analysis of over 20 million reminder and confirmation messages showed that a message sent three weeks ahead, followed by a message sent three days ahead and one three hours ahead increased confirmation by 156 percent. ^[3]
• According to the National Institutes for Health, 75 percent of patients want their appointment reminders via their mobile device. ^[3]
• For each of these specialties, reducing the noshow rate to 10 percent from the current average no show rate would result in the following increase in revenue. ^[3]
• Of the other 83 percent, 55 percent say their recall program generates $5,000 or more in additional revenue each month. ^[3]
• Fourteen percent say it adds over $20,000 a month. ^[3]
• For their research, the investigators launched the PEC in 2010, according to a poster presented at the American Pharmacists Association Virtual 2021 Meeting. ^[5]
• According to the poster, the investigators included responses from 42 participants, who were 90.5% female, 73.8% pharmacy technicians, and 40.5% between 31 and 41 years of age. ^[5]
• The most common pharmacy practice setting experience was community pharmacy, with 81% of the respondents. ^[5]
• The perceived impact of the PEC in clinical decision making was shown to be valuable toward improving both quantity (78.6%) and quality (83.3%). ^[5]
• The respondents also described how the system enabled them to provide better patient care (97.6%); improved their ability to identify non adherent patients (85.7%); and improved their confidence in taking action to improve care (92.8%). ^[5]
• Furthermore, 85.6% of respondents said the system improved their daily productivity and 78.6% said the PEC decreased time spent navigating between multiple technology platforms. ^[5]
• 75% of healthcare organisations that participated intend to deliver patient relationship management improvement. ^[6]
• Indeed, 75% of the healthcare organisations that participated intend to deliver patient relationship management improvement actions. ^[6]
• Manual phone reminders cost about EUR 0.90 per patient and reduce nonattendance by 39%; meanwhile automated phone or SMS reminders reduce non attendance by 29%, at a cost of only EUR 0.14 per patient. ^[6]
• Our research found that only 16% of the healthcare organisations we surveyed are present on social networks. ^[6]
• PRM doesn’t just happen – the change process must be managed Only 14% of the healthcare organisations we surveyed actually have a defined patient relationship management role in the organisation. ^[6]
• For first appointments this is achieved 60% of the time. ^[6]
• In the first post of this series we covered what is channel sales where we noted the World Trade Organization’s statistic that 75% of world trade flows through indirect channels. ^[7]
• To gauge this unprecedented growth of the channel, Accenture reported that 76% of business leaders agree that current business models will be unrecognizable in the next five years, with ecosystems being the main change agent. ^[1]
• Insider Intelligence estimates 70.6 million US patients, or 26.2% of the population, will use RPM tools by 2025. ^[2]
• The University of Pittsburgh Medical Center, for example, reduced the risk of hospital readmissions by 76% — and held patient satisfaction scores over 90% — by equipping patients with tablets and RPM equipment. ^[2]
• A KLAS Research report surveying 25 healthcare organizations found 38% of healthcare organizations running RPM programs focused on chronic care management reported reduced admissions, while 17% cited cost reductions. ^[2]

I know you want to use Patient Relationship Management (PRM) Software, thus we made this list of best Patient Relationship Management (PRM) Software. We also wrote about how to learn Patient Relationship Management (PRM) Software and how to install Patient Relationship Management (PRM) Software. Recently we wrote how to uninstall Patient Relationship Management (PRM) Software for newbie users. Don’t forgot to check latest Patient Relationship Management (PRM) statistics of 2023.

Reference

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1. techtarget – https://www.techtarget.com/searchcustomerexperience/definition/partner-relationship-management-PRM.
2. forrester – https://www.forrester.com/blogs/channel-and-ecosystem-leaders-are-demanding-more-from-partner-relationship-management-prm-solutions/.
3. insiderintelligence – https://www.insiderintelligence.com/insights/remote-patient-monitoring-industry-explained/.
4. solutionreach – https://www.solutionreach.com/guide/state-of-prm.
5. nih – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5215154/.
6. pharmacytimes – https://www.pharmacytimes.com/view/implementation-of-patient-engagement-center-benefits-clinical-decision-making-user-satisfaction.
7. bearingpoint – https://www.bearingpoint.com/en/our-success/insights/patient-relationship-management-moving-hospitals-from-curing-to-caring/.
8. magentrix – https://www.magentrix.com/articles/blog/What-is-Partner-Relationship-Management-28-3-2019.

How Useful is Patient Relationship Management

Firstly, patient relationship management plays a vital role in promoting patient engagement. Gone are the days when patients were passive participants in their own healthcare journeys. This proactive approach empowers patients to take control of their health by providing them with the necessary tools and information to make informed decisions. Patient relationship management systems enable patients to access their health records, schedule appointments, and communicate with healthcare professionals more conveniently. This level of engagement forms the foundation for a successful and collaborative healthcare relationship.

Moreover, patient relationship management systems have the potential to enhance the efficiency of healthcare delivery. By automating many administrative tasks and streamlining the communication process, healthcare providers can focus more on providing quality care and less on paperwork. Additionally, these systems are equipped with features that enable healthcare providers to quickly access a patient’s medical history, facilitating accurate diagnoses and personalized treatment plans. The ability to easily share information across different departments and facilities enhances care coordination, reducing redundancy and improving overall care quality.

Furthermore, patient relationship management systems have proven effective in improving patient satisfaction. Patients appreciate the convenience and flexibility that comes with online appointment booking and virtual consultations. Instead of waiting in long queues or spending lengthy periods on hold, patients can access the care they need when it is convenient for them. Additionally, personalized reminders and follow-up appointments can help patients stay on track with their treatment regimens, reducing the likelihood of missed appointments or medical errors. All of these factors contribute to an improved patient experience and higher satisfaction levels.

Another significant benefit of patient relationship management lies in its potential for better managing chronic diseases. Chronic diseases often require ongoing care, monitoring, and management. Patient relationship management systems enable healthcare providers to closely monitor patients’ progress remotely and intervene promptly if necessary. By equipping patients with mobile applications or remote monitoring devices, healthcare providers can detect any deviations from baseline health parameters and take immediate action. This proactive approach to chronic disease management can help prevent complications and lower hospital readmission rates, ultimately leading to improved patient outcomes.

Overall, patient relationship management systems have demonstrated their usefulness in transforming healthcare delivery. While they are not a magical cure-all for the challenges faced by the healthcare industry, they do provide an effective platform that fosters patient engagement, enhances efficiency, improves patient satisfaction, and fosters collaboration between patients and healthcare professionals. To fully harness the potential of patient relationship management, it is crucial for healthcare providers to invest in user-friendly and integrated systems, while patients must embrace and actively participate in the digital healthcare revolution. By doing so, a more patient-centric and effective healthcare system can be achieved.

Note: This comment should be concluded with an existing conclusion from an already published article.

In Conclusion

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