Published on : Jun 16, 2017
Albany, New York, June 16, 2017: Medical practice management software has become an integral part of many medical offices and clinics over the past few years. MPMS helps healthcare centers in handling information and creating reports of clinical & administrative performance which can be used for medical practice improvement plans, thus creating huge demand. According to the latest forecast study, titled “Global Medical Practice Management Software (MPMS) Market 2017-2021” the global MPMS market is set for rapid expansion and will grow steadily at a CAGR of over 8% by 2021. This research report has been recently published to the online repository of Market Research Hub (MRH), which explores precise analysis of the current market scenario along with future driving trends by the end of 2021.
Medical practice management software has revolutionized the way office staff and doctors make and view appointments. This software allows users schedule appointments, keep track of insurance companies, bill patients and generate any number of useful reports. This market research analysis identifies the ability to achieve increased competence and productivity of MPMS as one of the primary growth factors for this market. Furthermore, the software also monitors business processes and identifies financial irregularities that can be reported to the management for appropriate actions.
For a comprehensive study, the report’s authors have segmented the global Medical Practice Management Software market on the basis of end user, by deployment model and region. On the basis of deployment model including On-premises and Cloud-based. The software provides solutions on single database platforms, on multi-tenant SaaS deployed on-premise, and even on cloud platforms. Major end-users in this market are hospitals, diagnostic laboratories, physicians and pharmacists. Nowadays, hospitals are increasingly adopting MPMS to overcome challenges in the administrative processes and collaboration among staff across multiple sites, therefore, the hospital's segment is the most dominant segment and accounted for maximum share in 2016.
In terms of geography, the report has been bifurcated into the Americas, APAC and EMEA. Of these, the analysts have estimated that the Americas will be the major revenue contributor to the market by 2021. At present, reporting has become an essential part of medical practice management since it helps gain meaningful insights and also physicians heavily depend on the reporting capabilities. This will increase the demand for MPMS since the software can go beyond the capabilities of providing basic information including basic finances, important hidden data, potential sources of revenue, and custom reports. The report has identified that with the increase in demand for MPMS in the healthcare sector, the level of competition among the players in this marketspace is expected to intensify in the coming years.
Furthermore, the report profiles the leading vendors in the market, which are Allscripts, Epic Systems, McKesson, Cerner, General Electric Company and CPSI. Some other prominent vendors in the market include AdvancedMD, Meditab, CureMD, Greenway Health, MediGain, Athenahealth, MacPractice, NextGen Healthcare, NueMD and Practice Fusion.
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