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The global healthcare workforce management systems market is predicted to jump from $761.7 million at the end of this year to $1,453.8 million by 2019. MarketsandMarkets projects in a new report that the increase represents a compound annual growth rate (CAGR) of 13.8 percent between 2014 and 2019.

Overall, healthcare workforce management systems relate to solutions used to manage the healthcare workforce. The ongoing increase is largely being credited to the need to efficiently use the healthcare workforce as healthcare costs increase. For example, healthcare workforce management solutions are being used to manage shift differentials of employees, to keep track of employees, and to retain employees. According to a U.S. government study undertaken by the Centers for Medicare and Medicaid Services, healthcare spending is predicted to increase an average rate of 5.8 percent between 2012 and 2022.

In addition, healthcare organizations need to comply with government regulations to avoid costly penalties – and workforce management solutions can help out.

The report, “Healthcare Workforce Management Systems Market by Solution (Talent Management, Time & Attendance, Scheduling, Optimization Services), by Mode of Delivery (Cloud-based, Web-based), by End-User (Hospital, Long Term Care) - Global Forecast to 2019,” noted that last year North America was the market leader in the sector. It had about 65 percent of the global market, with Europe having about 20 percent market share. 

“The demand for health professional workforce in North America and Europe is growing due to the increasing aging population and resultant increase in the prevalence of diseases,” according to a statement on the study.

When considering the jump in workforce management solutions, it is noteworthy they are often paired with call recording technology as parts of a larger workforce optimization suite. That could mean there will be opportunities for growth in call recording. Just an example, call recording can be used to comply with healthcare regulations (such as under the Health Insurance Portability and Accountability Act) and as a result they can provide more efficient service at healthcare organizations. These benefits include monitoring, compliance and providing improved healthcare to patients. It will also make it easier for healthcare professionals to manage patient data and electronic healthcare records.

In considering the global market, the Asia-Pacific region has what is believed to be biggest opportunity for growth when it comes to workforce management between 2014 and 2019, the study adds. In fact, the Asia-Pacific market is predicted to jump at a CAGR of 18.2 percent during the five years.

On the other hand, maintenance and software update costs may impact how healthcare providers use workforce management systems. Security risks and data privacy may impact the workforce management systems market, as well.

Specifically, some top companies in the global workforce management systems market include: IBM, Infor, Oracle, Kronos (News - Alert), SAP AG, McKesson, and GE Healthcare.