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.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/us-practice-management-systems-market
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
Request a Sample Copy @ https://www.grandviewresearch.com/industry-analysis/us-practice-management-systems-market/request/rs1
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.
For more info visit @ https://www.grandviewresearch.com