Behavioral Health Software Market: Key Players Focuses on Agreements, Collaborations and New Product Launches

The report “Behavioral/Mental Health Software Market by Delivery Mode (Ownership & Subscription), Functionality (EHR, CDS, Telehealth, Payroll, RCM, Ledger, BI, Workforce & Case Management), End User (Hospitals, Clinics, Health Plans, Residential) - Forecasts to 2019”, The global behavioral health software market is expected to reach $1.5 billion by 2019 from $0.75 billion in 2014, growing at a CAGR of 14.7% from 2014 to 2019.

Browse 197 market data tables and 53 figures spread through 200 pages and in-depth TOC on “Behavioral/Mental Health Software Market”
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The behavioral health software market is highly fragmented due to presence of few big players and several small players.

Prominent players in the behavioral health software market include Cerner Corporation (U.S.), Core Solutions (U.S.), Credible Behavioral Health (U.S,), Epic Systems Corporation (U.S.), MindLinc (U.S.), Netsmart Technologies (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Qualifacts (U.S.), The Echo Group (U.S.), Valant Medical Solutions Inc. (U.S.), and Welligent (U.S.) amongst others.

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Cerner Corporation led the behavioral health software market in 2013. The company believes in both organic as well as inorganic growth for enhancing its market position. In November 2012, Cerner acquired Anasazi Software, Inc. a leading provider of behavioral health technology. The company is innovation centric and invests heavily in R&D for maintaining its market share.

In this regard, the company invested $418.7 million in R&D in 2013. The company has strong presence across the globe. Cerner solutions are licensed by approximately 14,000 facilities worldwide, which includes over 3,000 hospitals; 4,900 physician practices; 60,000 physicians; 590 ambulatory facilities; 3,500 extended care facilities; 150 employer sites and 1,790 retail pharmacies. The company is customer oriented and maintains strong relationship with its customers which help it to maintain its leadership position.

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The key strategies followed by most companies in the behavioral health software market are new product launches; acquisitions; agreements and collaborations; and expansions. Agreements, collaborations, contracts, and partnership strategy accounted for the largest share of the overall growth strategies mapped from 2012 to 2014.

Some of the leading players that adopted this strategy Netsmart Technologies (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Qualifacts Systems, Inc. (U.S.), and Cerner Corporation (U.S.) . New product launch strategy accounted for the second largest share of the overall growth strategies adopted by players in the market.

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