Practice Management System (PMS) Market With Emegrging Market Players 2020 | Allscripts Healthcare Solutions Inc., Athenahealth, eClinicalWorks, GE Healthcare

Practice management software is a system which is used in medical offices, which are designed to deal with day-to-day operations using desktop software, client-server software, and internet-based software. PMS has various capabilities such as entering and tracking patients, recording patient demographics, scheduling patient appointments, managing charge capture, performing billing procedures, and generating reports for staff members. PMS has three important components, namely, claims processes, patient scheduling, and reporting capabilities. The key benefit of PMS is that it helps in faster reimbursement as it gets rid of the requirement for paper billing and records. Growth of electronic data in the health care industry is the dominating factor for the rise in the practice management system market growth.

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Increase in the need for integration of healthcare system, rise in focus for high return on investments, and high-quality care are the major factors that drive the growth of the practice management system market. In addition, evolution of IT and rise in number of supportive federal initiatives to combine health records on a single platform fuels the growth of the PMS market. However, high cost and time required for integration, lack of IT professionals for managing the PMS and data privacy and security concerns hamper the growth of the market. Furthermore, development of new value-added services like integration of PMS with other IT solutions and adoption of new technologies in PMS like cloud-based model are anticipated to create major opportunities in the global market.

The practice management system market is segmented into component, deployment mode, product type, end-user, and region. In terms of component, it is bifurcated into solution and services. On the basis of deployment mode, it is categorized into on-premise, web-based, and cloud. As per product type, it is classified into integrated and standalone. In terms of end-user, it is segmented into physician office, pharmacies, diagnostic laboratories, and other. Based on region, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.

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The key players profiled in the practice management system market analysis are Allscripts Healthcare Solutions Inc., Athenahealth, eClinicalWorks, GE Healthcare, Greenway Health LLC, AdvantEdge Healthcare Solutions Inc., Cerner Corporation, McKesson Corporation, Vitera Healthcare Solution, and Medical Information Technology Inc. Current and future practice management system market trends are outlined to determine the overall attractiveness of the market.

Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

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The market is evaluated based on its regional penetration, explaining the performance of the market in each regional market covering provinces such as North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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