The Cost of Developing a Hospital Management System: A Detailed Analysis
The healthcare industry is expected to make the right decision, even when their hospital or healthcare unit is booming with chaotic situations. To manage patient data and other healthcare-related information easily, HMS- Hospital Management System is built.
During the COVID-19 pandemic, when massive hospitals even failed to manage everything, demand for Hospital Management Software increased. Between then and now, there's been a huge rise in the number of healthcare sectors using hospital Management Software.
However, while planning to build an HMS for your healthcare organization, the first indulging thought arises is- ‘What will be the cost of developing an HMS?’
As mobile technology in the Healthcare sector is expanding, the development cost will depend on the type of technology you want in your system. So, here we will discuss the primary factors that will affect your HMS development cost and the approximate cost of HMS development. Let’s begin!
What is Hospital Management Software?
An HMS is software that manages the organization to provide better medical care. It’s a central network that has the power to manage & control different departmental operations in one place.
Hospital management software works as a binding force between various modules like admissions, patient registration, appointments, laboratory, EMRs (Electronic Medical Records), patient data, appointments, and much more.
The HMS focuses on maintaining various processes such as reducing paperwork, managing patients, reducing errors, and improving healthcare service quality. Additionally, it uses real-time access to give inputs for better decision-making and improving outcomes of patient’s health.
Different types of Hospital Management Systems
Let’s explore different types of HMS that healthcare organizations can use to manage different healthcare operations. With the enhanced demand for healthcare software products in the market, more businesses are planning to build healthcare software and improve their medical services.
So, here are the common types of HMS that are digging their place in the evolving medical field:
EHR (Electronic Health Records)
EHR is a type of HMS that stores and manages healthcare data electronically. It stores patient’s data like medication, diagnoses, medical history, and other treatment solutions. It allows healthcare providers to access this data from anywhere across the globe. Moreover, EHRs are easy to integrate with other systems to share patient data securely.
HIS (Hospital Information System)
HIS is a comprehensive healthcare software that resolves different aspects of managing hospital operations like patient registration, in and out of patients, appointment scheduling, pharmacy management, billing, and laboratory management. The main aim of HIS is to improve operational efficiency and enhance the user experience.
PMS (Pharmacy Management System)
The popularity of Pharmacy Management Systems is growing since they can manage pharmacy functions like prescription and medicine management, billing, tracking assets, etc. PMS also works with other systems like HIS to share the patient’s data securely.
LIS (Laboratory Information System)
LIS helps in the easy management of different lab operations such as sample tracking, inventory management, and managing laboratory reports. This system also works well with other systems like EHRs for sharing laboratory data.
RIS (Radiology Information System)
One can use RIS software to manage different radiology operations like scheduling appointments, management of imaging information, and making relevant reports. The name itself consists of the term radiology, it shows that these software are designed to maintain radiology processes and improve patient’s health.
Picture Archiving and Communication System (PACS)
The main objective of PACS is managing the stored medical images like X-rays, MRIs, & CT scans. This system allows healthcare professionals to see and share medical infographics electronically. Also, integrate it with other systems like EHRs to share medical data quickly and safely.
Factors Affecting the Cost of Developing a Hospital Management System
Before we see the approximate development cost of an HMS, let us discuss the primary factors that affect the overall budget of HMS development. Let’s explore each of them in detail:
High level of personalization
If any company needs customized hospital management solutions customized as per their needs, it can scale up the development cost. Customization can include functions like integrating into existing systems, specific reporting, unique workflows, etc.
Functionality and Features
More the features and functions in your HMS, the more expensive it becomes. For instance, a customized and advanced HMS has modern features like real-time monitoring, prophetic analysis, etc. This system will be more costly than a basic system.
Platform and Technology
When a developer chooses a specific tech stack or platform, it can impact the development cost of your HMS. For instance, developing multiple OSs compatible with HMS like iOS, Android, Windows, etc., will be comparatively more expensive than developing a system that only has to run on one platform.
Size & Complexity of the Healthcare Center
While calculating the development cost, one of the main factors affecting it is- the size of the hospital and how complex it is. The larger the hospital, it will have more complex operations and workflows will need more development time and resources which leads to higher development costs.
Support and Maintenance
Soon after the development and implementation of HMS, you will be required to pay for continuous support and maintenance. It includes regular app updates, bug fixes, user support, and other features that add to the overall cost of developing an HMS.
Regulatory Compliance
Healthcare organizations must comply with a whole range of rules related to security, data privacy, and safety. Building an HMS that fulfills these requirements can cost you some extra bucks.
Approximate Cost of Developing a Hospital Management System
The development cost of a hospital management system depends on different factors, some of which we already discussed, and some we will discuss later in this article.
The development cost of a primary application starts from $25,000 to $30,000. If you want to implement modern technology like blockchain AI, etc., the further development cost increases.
Moreover, the development cost of HMS also depends on Development Service Providers. Mainly, there are three types of hospital management system development providers that you can opt for:
Project Outsourcing
Hiring an outsourcing company to develop personalized HMS solutions for a particular healthcare organization. The process of outsourcing is a cost-effective strategy. It can cost you a minimum of $60/hour for developing HMS.
A dedicated team of developers
A group of software developers who have been exclusively assigned to function on a particular project for a longer period. This can be proved to be one of the most costly alternatives that can range from $100-$200 per hour.
Hiring Freelancers
In case you own a startup, or you have certain budget constraints and want to make a quick onboarding, hiring freelancers can be an easy option. However, there are chances of compromised quality at the same time.
Overall, on average, developing an HMS can cost you between $70,000 and $100,000 to make a simple and well-planned system that can run on one platform. While building a complex, cross-platform system can cost from $90,000 and $140,000.
As per certain market research, the final cost of developing a functional Hospital Management System can vary from $150,000 and $280,000.
However, the expense range that is mentioned above is just estimate. There are numerous more factors that influence the final cost of the product. The cost will ultimately depend on the quality of the product and software development team that you hire for building your HMS application.
Additionally, you’ll still have to pay for regular support and maintenance services.
Must-have features of the Hospital Management System
Here’s the list of the popular features that a Hospital Management System should have:
For Doctors
Easy patient management functionality
EHR- Electronic Health Record
Laboratory Management
Virtual Care
Telemedicine integration
For patients
Seamless patient’s registration feature
Quick insurance verification
Billing verification feature
EMR and EHR
For hospitals
Hospital staff management functionality
Registration and Appointment
Access and security controls
Billing invoices
Registration and appointment system
Benefits of Using a Hospital Management System
Here are the top advantages of HMS:
Better patient care
Since HMS provides healthcare providers with swift access to patients’ data like medical history, laboratory reports, etc. doctors can make better decisions and take better care of patients.
Increased Efficiency
An HMS (Hospital Management System) is a catalyst for managing hospital operations, essentially reducing the time needed for tasks like patient registration & appointment scheduling. This strong efficiency leads to expedited and effective patient care.
Secure Data Management
With HMS hospitals can securely store and manage patient data, minimizing risks and simplifying data analysis. This feature safeguards patient data and provides seamless data analysis for better decision-making.
Improved Patient Safety
This proactive feature prevents misdiagnoses, medication errors, and other errors that could potentially harm patient safety, ensuring better healthcare outcomes.
Reduced Cost
Building a Hospital Management System (HMS) provides a prime alternative to delivering better care while minimizing expenses. By enhancing billing accuracy, managing paperwork, and avoiding administrative overhead, an HMS proves to be a cost-effective solution for providing high-quality healthcare services.
Seamless Communication
HMS improves the communication bridge between healthcare providers via a centralized platform for storing patients' data and their relevant treatment plans. It results in proper collaboration of healthcare providers and better patient outcomes.
Final Verdict
The main goal of Hospital Management Software is to help patients, healthcare sectors, and doctors in improving the productivity of the services. By developing an efficient and smarter HMS, you can provide quicker healthcare services to your patients.
So, we hope that this article has given you an approximate cost estimation for developing a customized Hospital Management System. Also, it’s the right time to develop one for your hospital. For more such articles, visit us regularly. Till then, happy reading!