The U.S. practice management system market is expected to reach USD 11.11 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 10.3% over the forecast period. Demand for practice management system is growing due to increasing pressure to curb healthcare costs and changing dynamics of hospital/healthcare settings industry. Rising focusing on implementing cost-effective and quality care, which will boost the market demand.
Political instability, economic stress, and lack of proactive initiatives are questioning the healthcare funding. Despite healthcare-related funding and insurance programs, there has been a constant rise in healthcare cost in U.S., influencing healthcare providers. The healthcare expenditure in U.S. is around 2.4 times higher than the global average and is anticipated to increase by 68.0% in the next 10 years.
With the help of practice management systems, healthcare providers are now able to offer right treatment at effective price, thus reducing treatment costs. Some of the prominent companies in the market for U.S. practice management systems are Henry Schein MicroMD; Allscripts Healthcare Solutions, Inc.; AdvantEdge Healthcare Solutions, Inc.; Cerner Corporation; GE Healthcare; and McKesson Corporation.
Full Research Report On U.S. Practice Management Systems Market Analysis:
Further key findings from the study suggest:
Changing dynamics of healthcare settings/hospital industry along with the development and sale of value-added services is driving the market
The integrated systems segment capturedthe largest market share in 2017 mainly due to the benefits, such as enhanced efficiency and communication across various departments and reduced administrative and medical errors
Cloud-based practice management solutions segment is anticipated to witness the fastest growth over the forecast period
Cloud-based practice management solutions offer benefits such as readily available information that can be accessed even in the remote locations, higher reliability, and faster processing
Key companies in the market include Henry Schein MicroMD; Allscripts Healthcare Solutions, Inc.; AdvantEdge Healthcare Solutions, Inc.; Cerner Corporation; GE Healthcare; and McKesson Corporation.
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Grand View Research has segmented the U.S. practice management systems market on the basis of product, component, delivery mode, and end-use:
U.S. Practice Management Systems Product Outlook (Revenue, USD Million, 2014 – 2025)
U.S. Practice Management Systems Component Outlook (Revenue, USD Million, 2014 – 2025)
U.S. Practice Management Systems Delivery Mode Outlook (Revenue, USD Million, 2014 – 2025)
U.S. Practice Management Systems End-use Outlook (Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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