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Practice Management Systems Market 2022 Top Key Players, Drivers, Competitive Landscape, Trends, Growth and Forecast to 2027
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How big is the practice management system market?
The global practice management systems market reached a value of US$ 14.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 23.97 Billion by 2027, exhibiting a growth rate (CAGR) of 8.40% during 2022-2027.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is practice management system?
A practice management system (PMS) refers to a software that manages the daily operations of healthcare institutions. It efficiently handles medical billing tasks, healthcare data, patient scheduling, referral policies, and appointment bookings. It also reduces the organizational burden and enables healthcare professionals to focus on quality patient care. Technologically advanced PMS systems also aid in processing patient data through computer software systems such as Software-as-a-Service (SaaS). Some PMS systems also allow customers to schedule appointments themselves over the internet. Nowadays, PMS is gaining momentum as it increases the efficiency of current medical institutions, saves time and resources, and provides high returns on investment.
What are the major drivers for the practice management systems market?
The market is primarily driven by numerous advantages offered by practice management systems (PMS). It assists in reducing operational costs and decreases the overall cost of the healthcare sector. It also condenses healthcare delivery costs by improving management strategies and encouraging evidence-based patient care and health plans. In addition, PMS concentrates on reducing management errors by combining lucrative repayment policies.
Apart from this, the rising demand for patient-centric care systems and the availability of cloud-based PMS are also strengthening the market growth. Other factors, including the increasing investments in upgrading the healthcare sector, the evolution of mobile apps that offer PMS solutions, and the growing demand for automation and intelligent software solutions across the globe, are anticipated to drive market growth.
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What segments are covered in the Medical Practice Management Software Market report?
IMARC Group provides an analysis of the key trends in each sub-segment of the global practice management systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, component, product, deployment mode and end user.
Breakup by Component:
• Software
• Services
Breakup by Product:
• Integrated
• Standalone
Breakup by Deployment Mode:
• Web-based
• On-premises
• Cloud-based
Breakup by End User:
• Physician Back Office
• Pharmacies
• Diagnostic Laboratories
• Others
Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
List of Major Key Players:
• Accumedic Computer Systems Inc.
• AdvantEdge Healthcare Solutions (Health Prime International LLC)
• Allscripts Healthcare Solutions Inc.
• Athenahealth Inc.
• CareCloud Inc.
• Cerner Corporation (Oracle Corporation)
• eClinicalWorks
• General Electric Company
• Greenway Health LLC
• Henry Schein Inc.
• McKesson Corporation
• NextGen Healthcare Inc.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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