After an exhaustive analysis of the industry, the resultant report starts with a brief but an informative overview. The overview contains the market definition, prominent applications, along with the manufacturing techniques employed. With the aim of analyzing the global Medical Document Management market, data analysts dive into the competitive scene as well as the latest industry trends, and key regions. The report also offers the product’s price margins combined with the challenges encountered by the manufacturers. In addition, it provides a comprehensive understanding of various dynamics that have a significant impact on the Medical Document Management market. The report highlights the market situation while keeping 2019 as the base year, and the forecast period ends by 2025.
Global Medical Document Management Market is accounted for $286.6 million in 2016 and expected to grow at a CAGR of 15.5% to reach $789.9 million by 2023. The Factors such as demand for advanced monitoring systems for patients in hospitals and clinics, increase in spending on healthcare BI and analytics solutions and growing need to streamline billing systems are driving the market growth. However, reluctance of physicians, nurses and other medical staff to change their methods and high cost of implementation hampers the growth of medical document management market. Mobile platforms for document management systems offer new opportunities for industry players.
The Health Care sector provides significant opportunities for Document Imaging software. Implementing document imaging technology in healthcare facilities can yield many benefits such as converting archival and working records to an electronic format can help healthcare entities harness the exploding amount of information and faster access, retrieval and distribution of patient information.
Medical practices have a lot of documentation that require maintenance, updates, and filing on a regular basis. Medical practices use a specialized EDM referred to as an Electronic Medical Records (EMR) System. For instance, 3M™ Electronic Signature Authentication (ESA) Software speeds chart completion time by allowing clinicians to view, edit and complete and electronically sign patient documents.
Hospital wide electronic document management system helps patients by streamlining billing. Bills are one of the most stressful parts of being hospitalized. The quicker and more accurately patients’ claim forms are submitted, the sooner patients can understand the billing process. 3M PFS Document Management can be integrated with 3M™ ChartScan™ Software to provide a comprehensive solution for capturing and transmitting documents from other departments, complementing the document management strategy and EHR processes. Medical Document Management Software is a must-have for hospitals so that records of each patient can be stored electronically and one can quickly see through a patient’s details in just a click. It reduces the mess of paper work and cost of keeping employees for calculation work. Therefore, Medical Document Management Software is felicity to hospital management and staff.
The key players in global Medical Document Management market are GE Healthcare, Allscripts Healthcare Solutions, 3M Company, Siemens Medical Solutions USA, Inc, Toshiba Medical Systems Corporation, Cerner Corporation, Kofax Ltd, EPIC Systems, Hyland Software and McKesson Corporation.
Delivery Modes Covered:
• Cloud-Based Model
• On-Premise Model
• Web-Based Solutions
• Admission And Registration Documents Management
• Image Management
• Patient Billing Documents Management
• Patient Medical Records Management
• Medical Document Management Services
• Medical Document Management Solutions
End Users Covered:
• Nursing Homes
• Insurance Providers
• Hospitals & Clinics
• Other Health Care Institutions
The forecast, as well as analysis of the Medical Document Management market, is done not on just globally, but also regionally. With context to the region, the report covers the main regions of Middle East & Africa, North America, Europe, Latin America, and Asia Pacific. The latest trends are examined in these regions, apart from various opportunities and outlook that could favor the market in the subsequent years.
Drivers and Challenges
In addition to giving an insight into the fundamental dynamics shaping the Medical Document Management market, the report also examines a variety of volume trends along with the pricing history and market value. On top of this, numerous potential growth factors, challenges, coupled with opportunities, are appraised to get a precise understanding of the market altogether.
Method of Research
To get an understanding of the market potential in the coming years, the market is scrutinized with respect to various parameters that are part of the Porter’s Five Force Model. Besides, the data analysts also use the SWOT on account of which the report offers explicit information about the Medical Document Management market. The thorough analysis of the market aids in identifying and highlighting its key strengths, weaknesses, risks, and opportunities.
Table of Content
1 Executive Summary
3 Market Trend Analysis
10 Key Developments
11 Company Profiling
11.1 GE Healthcare
11.2 Allscripts Healthcare Solutions
11.3 3M Company
11.4 Siemens Medical Solutions USA, Inc
11.5 Toshiba Medical Systems Corporation
11.6 Cerner Corporation
11.7 Kofax Ltd
11.8 EPIC Systems
11.9 Hyland Software
11.10 McKesson Corporation
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