Practice Management Systems Market Competitive Landscape Analysis with Forecast by 2023

Global practice management systems market is forecasted to attain revenue of $16.0 billion by 2023. The market is mainly driven by improving infrastructure and digitalization of healthcare, increasing pressure to curb healthcare costs, and development and sales of value added services.

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Among the various delivery mode for practice management systems, web-based delivery mode attained the largest share, of 47.5%, in the market, in 2017. This leading position of the category is attributed to its reduced cost and ability to provide access to large data information, that makes it a preferable choice over cloud-based and on premise-based delivery modes.

Among the different component, the demand for practice management software is increasing at a high rate globally. The category held contribution of 58.2% in the practice management systems market in 2017.

Globally, key players in the practice management systems industry are developing products for revenue cycle management and EHR. For instance, in April 2018, eClinicalWorks announced that Physicians’ Clinic of Iowa (PCI), one of Iowa’s private specialty medical groups, intends to switch to the eClinicalWorks cloud-centric EHR solution for its 84 providers. The EHR solution can improve PCI’s ability to fulfil its growth plans while providing excellent patient care.

Some of the other key players operating in the practice management systems market are General Electric Company, Cerner Corporation, Epic Systems Corporation, athenahealth Inc., Quality Systems Inc., Greenway Health LLC, Henry Schein Inc. Allscripts Healthcare Solutions Inc., and McKesson Corporation.

Source: P&S Intelligence