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Market Research on Medical Practice Management Software Market 2015 and Analysis to 2023
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The medical practice management software market helps in integration of electronic health records (EHR), in providing interoperability solutions, and assists in the overall practice management process. The software provides solutions on single database platforms, on multi-tenant SaaS deployed on-premise, and even on cloud platforms.
The prime factors which invigorate this market are the need for high return on investment, various funding and grants provided by the government, need for better patient-physician coordination, and increase in patient awareness and better health. Choosing the right PMS is a critical task in healthcare management because its functionality greatly determines the overall productivity of the institution in which it is installed. The major challenge faced by PMS users is the time required to completely implement the system in the institution.
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The market is set to grow drastically in North America due to government policies in the U.S, especially due to ‘Obamacare’, which makes it compulsory for health care providers to use such software. Europe is the second largest share holder in the global market. With the improvement in the economies of developing countries, Asia is also set to generate huge demand. Some of the major players in medical practice software are Sage Group, NextGen Healthcare, AthenaHealth, eClinicalWorks, MediTouch, and McKesson.
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