Medical Practice Management Software Market 2021- 2028 | Size, Share, Growth, Trends, Competitive Landscape, Revenue, Forecast Report
Pune, India, July 09, 2021 (GLOBE NEWSWIRE) — The global medical practice management software market is anticipated to gain momentum from the introduction to predictive and big data analysis. Fortune Business Insights™ published this information in an upcoming report, titled, “Medical Practice Management Software Market Size, Share and Global Trend By Interface Type (HL7, Accredited Standards Committee X12 (ASC X12), Others), By Technology (Web-based software, Cloud-based software), By End User (Hospitals, Clinics, Ambulatory Surgery Centres, Diagnostic Centres, Others), and Geography Forecast till 2026.”
The report further states that the need to integrate healthcare system and a rise in the number of clinics and hospitals worldwide would augment the growth of the market in near future. Additionally, robust government support and increasing technological advancements in cloud and web-based technology are also expected to impact the medical practice management software market growth positively.
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What Does This Report Contain?
- Detailed analysis of the medical practice management software market trends, growth drivers, barriers, opportunities, and challenges.
- In-depth information about the significant strategies followed by key players.
- Clear understanding of all the segments.
- A well-defined map of competitive landscape consisting of strategic collaborations, mergers and acquisitions, agreements, contracts, new product launches, and investments.
- Data about the demand and supply chain.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future
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Changes in Health Reimbursement Policies to Favor Growth in North America
The market is geographically fragmented into the Middle East & Africa, Latin America, North America, Asia Pacific, and Europe. Out of these, North America is expected to procure high medical practice management software market revenue in the coming years on account of the rapid adoption of advanced technology. Apart from that, persistent changes in health reimbursement policies would aid growth in this region.
In Asia Pacific and Europe, the market would expand because of the increasing number of specialty clinics and hospitals. Besides, the ongoing improvements in health infrastructure would accelerate growth in both regions.
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Key Players Focus on Acquisitions & Partnerships to Gain Competitive Edge
Reputed organizations present in the market are either collaborating with other prominent enterprises or are acquiring them to increase their product portfolio and broaden consumer bases. They are also aiming to gain the maximum medical practice management software market share during the forecast period. Below are a few of the latest key industry developments:
- January 2020: MTBC, Inc., a healthcare IT company based in the New Jersey, successfully completed its acquisition of CareCloud, a provider of cloud-based practice management and electronic health record headquartered in Florida. The deal is estimated to be worth USD 40.5 million. It will bring in CareCloud’s suite of tools for independent physician practices, namely, analytics, billing, patient experience, RCM, PM, and HER into MTBC’s own offerings.
- March 2019: Allscripts Healthcare Solutions, Inc., a global leader in healthcare IT headquartered in Chicago, teamed up with Opargo, to reduce schedule churn and improve healthcare efficiency through real-time schedule optimization. This partnership would add very crucial values for the consumers of Allscripts.
- January 2019: DAS Health, a specialist in healthcare business and IT solutions, acquired Altex Business Solutions, a digital health company based in Houston. It would help DAS in keeping up with their nationally recognized growth. It would further expand its Lytec, Practice Partner, Medisoft, eMDs, and Aprima product representation. The consumers of Altex will now possess a substantially improved value proposition as DAS owns multiple award-winning offerings, namely, security risk assessments (SRA), HER and practice management software sales, chronic care management, mental & behavioral health screenings, MIPS/MACRA reporting & consulting, and other value-based care solutions.
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Fortune Business Insights™ profiles some of the most renowned companies present in the medical practice management software market. They are as follows:
- Bizmatics Inc.
- Allscripts
- CareCloud Corporation
- Athenahealth Inc.
- AllegianceMD Software Inc.
- QSI Management LLC.
- Infor-Med Inc.
- Kareo Inc.
- Medsphere Systems Corporation
- Greenway Health LLC.
- Other key market players
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