Practice Management System Market -Global Industry Insights, Trends, and Opportunity Analysis, 2016-2024

Practice Management System Market - Global
Industry Insights, Trends, Outlook, and Opportunity
Analysis, 2016-2024
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Report Description
Practice management system (PMS) helps to manage the daily operations of an organization. With its
application in every company, office, health centers and organizations, use of PMS in health care yet has
immense potential. With increasing investments in upgrading the healthcare facilities and growth in the
healthcare IT industry, demand for PMS is growing globally. Even the healthcare centers and clinics in
emerging nations such as Indian, China, South Africa, and Brazil are demanding the implementation of
PMS to streamline their operations. PMS allows more efficient management of health data, patient
scheduling, billing process, and referral policies.
Individual physicians and group organizations need to maintain a large amount of data of day-to-day
activities. Practice management system addresses these needs maintaining critical patient information
such as patient demographics, appointment schedule, insurance payer data, billing and diagnostic and
treatment history. Practice management system softwares are often synchronized with the electronic
medical record (EMR) or electronic health records (EMR) software for better hospital management.
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Market Taxonomy:
The global Practice management systems market is analyzed in following categories
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

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Software type:
o
Desktop-only software - intended for single or few computer sharing access
o
Client-server software - which allows multiple users to share and access data, and
o
Internet-based software - which do need separate server for operation.
Delivery Platform:
o
Web-based
o
Cloud
o
On-premise
Product Type:
o
Integrated
o
Standalone
Components:
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o
Hardware
o
Software
End-Users:
o
Physicians
o
Pharmacists
o
Diagnostic Laboratories
Increasing Prevalence of Chronic and Infectious Diseases, and Aging Population to Drive the
Demand for PMS
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World Health Organization (WHO) estimates that there would be approximately 24 million new
cancer cases globally by 2035. In the U.S. more than one-third adults are obese according to
Centers for Disease Control and Prevention (CDC). As obesity is a major predisposing factor to
various diseases such as diabetes, cardiovascular diseases and others, steep rise in patient
population is expected in the near future.
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Prevalence of infectious diseases is also on the rise. Moreover, developing drug-resistance has
mandated the physician to maintain medication history of patient.
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Rapid rise in elderly population: According to WHO, over 2 billion individuals will be aged 60
years and above by 2050 globally. A detailed report published by CDC mentions that by 2030, 20%
of the U.S. population will account for older adults. The report also details that cardiovascular
diseases is the leading cause of deaths in adults aged 65 and above in the U.S.
With such rapid rise in patients visiting hospitals, patient history and record maintenance would become
essential. This will generate the demand for practice management systems globally.
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High Installation Cost Hindering the Growth in Emerging Nations
The market is mainly concentrated in the U.S. dense network of hospitals, and complex healthcare service
management and insurance systems are key market drivers. In the U.S., healthcare system is different
as compared to other countries. With Health Maintenance Organizations (HMOs) and Preferred Provider
Organizations (PPOs) in place, patients often visit multiple physicians. Hence maintenance of consistence
treatment history becomes difficult. The market is also growing in major European countries such as U.K.,
France, Germany, Italy and Spain. The market is yet in its introductory phase in Asia Pacific, Latin
America, Africa and Middle East regions owing to low diagnosis and treatment rate combined with financial
inability for installation of expensive software.
Key Suppliers in this Market: Allscripts Healthcare Solutions, Inc. Henry Schein MicroMD, Athenahealth,
Inc., GE Healthcare, NextGen Healthcare Information System LLC, Practice Fusion, McKesson
Corporation, Greenway Medical AdvantEgde Healthcare Solutions, MediTouch, and Accumedic
Computer Systems.
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Practice Management System Market report categorizes the report into various segments to provide complete information on Industry Insights, Trends, Outlook, and Opportunity Analysis.