The U.S. practice management systems market size is
expected to reach USD 13.3 billion by 2027, registering a CAGR of 10.2% over
the forecast period, according to a new report by Grand View Research, Inc.
Demand for practice management system is growing due to increasing pressure to
curb healthcare costs and changing dynamics of hospital/healthcare settings.
Increasing focus on implementing cost-effective, quality care will further boost
the market growth.
Political instability, economic stress, and
lack of proactive initiatives are exerting adverse effects on the healthcare
funding. Despite significant healthcare-related funding and insurance programs,
there has been a constant rise in healthcare cost in U.S., thus affecting
healthcare providers. The healthcare expenditure in U.S. was approximately 2.4
times higher than the global average in 2015 and is anticipated to increase by
68.0% in the next 10 years.
With the help of practice management systems,
healthcare providers are able to offer right treatment at effective price, thus
reducing treatment costs. Some of the prominent companies in the market are
Henry Schein MicroMD; Allscripts Healthcare Solutions, Inc.; AdvantEdge
Healthcare Solutions, Inc.; Cerner Corporation; GE Healthcare; and McKesson
Corporation.
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Grand View Research: https://www.grandviewresearch.com/industry-analysis/us-practice-management-systems-market/request/rs1
Further key
findings from the study suggest:
- Changing dynamics of
hospital/healthcare settings and development and sale of value-added
services are driving the market
- The integrated
product segment captured the largest market share in 2019 due to benefits,
such as enhanced efficiency and communication across various departments
and reduced administrative and medical errors
- Software held the
largest revenue share in the component segment in 2019 owing to
technological advancement and new product launches
- Cloud-based practice
management solutions is expected to show fastest growth over the forecast
period owing to advantages such as ready availability of information even
in remote locations, higher reliability, and faster processing
- Physician back
office dominated the end-user segment in the market in 2019 due to growing
adoption of this system in the physician offices
- Increasing focus of
the Association of American Medical Colleges toward increasing number of
physicians and healthcare facilities across the region is expected to
drive the market growth
- Key companies in the
U.S. practice management systems market include Henry Schein MicroMD;
Allscripts Healthcare Solutions, Inc.; AdvantEdge Healthcare Solutions,
Inc.; Cerner Corporation; GE Healthcare; and McKesson Corporation
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Query? Ask Our Experts: https://www.grandviewresearch.com/inquiry/5276/ibb
Grand
View Research has segmented the U.S. practice management systems market on the
basis of product, component, delivery mode, and end user:
U.S. Practice
Management Systems Product Outlook (Revenue, USD Million, 2016 - 2027)
- Integrated
- Standalone
U.S. Practice
Management Systems Component Outlook (Revenue, USD Million, 2016 - 2027)
- Software
- Services
U.S. Practice
Management Systems Delivery Mode Outlook (Revenue, USD Million, 2016 - 2027)
- On-premise
- Web-based
- Cloud-based
U.S. Practice
Management Systems End-user Outlook (Revenue, USD Million, 2016 - 2027)
- Physician Back
Office (Solo practitioners)
- Hospitals (Group
practitioners)
- Pharmacies
- Diagnostic
Laboratories
- Other Settings
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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