Medical Practice Management Software Market By Product (Standalone, Integrated), by Delivery Mode (On Premise, Web Based, Cloud Based) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The medical practice management software market is expected to reach US$ 560.8 million by 2026, growing at a CAGR of 10.6% from 2018 to 2026. Medical practice management software is used by various healthcare organizations to smoothly perform their da- t- day operations. The task is accomplished by employing medical practice management software ranging from booking a patient's appointment to maintaining the electronic health records (EHR) of the patient. Medical professionals throughout the globe have shown a positive response and better productivity after using medical practice management software.

Market Synopsis

The ability to operate offline and ensure the confidentiality of a patient's medical data makes standalone solutions popular around the world.

Standalone solutions are dominating the product segment of the medical practice management software market. The major parameters responsible for the popularity of standalone software solutions are their capability to run offline and their assurance of the confidentiality of patient's medical databases.

It is very simple to operate, and accessing stored data is very easy and convenient, requiring fewer maintenance charges. Integrated software solutions will experience outstanding growth in the near future on account of the government mandate for integrating electronic health records (EHR) with practice management software. Since it can be accessed by multiple users, the availability of expert opinions for critical medical conditions is provided in real-time. Medical centers in rural areas can provide and receive feedback pertaining to patients' medical databases, drastically reducing the cost associated with healthcare expenditure.

Inherent features such as dashboards, reports, interactive screens, and the availability of different applications propel the web-based delivery mode market.

In the present scenario, web-based is leading the delivery mode segment for the medical practice management software market. The key factors responsible for the positive growth of web-based software services are the technological revolutions of the last decade. Inherent features, such as a user-friendly interface and the availability of different applications pertaining to medical practice management.

The presence of dashboards, reports, and interactive screens in web-based solutions is helpful to trained healthcare professionals in streamlining patient-related medical data. The frequent security breaches are one of the drawbacks of web-based solutions. Cloud-based software solutions are set to garner magnificent growth during the overcast period owing to their major attributes, such as large storage space, low operational expenditure incurred, enhanced user flexibility in revisiting stored medical data, and high security.

The availability of trained healthcare professionals will drive the growth of the North American medical practice management software market.

North America is currently leading the geographical segment of the medical practice management software market. The features attributed to the impressive growth of North America are the establishment of outstanding healthcare infrastructure and the availability of highly trained healthcare professionals. The domicile of key players such as Allscripts Healthcare Solutions, Inc., EPIC Systems, and eClinicalWorks gives a strong impetus to nurturing the medical practice management software market in North America.

Enhanced government funding and stringent regulatory norms sanctioned by the European Medical Agency (EMA) related to preserving patients' treatment databases for future reference propel the medical practice management software market's growth in Europe. The Asia Pacific, the Middle East, Africa, and Latin America serve as lucrative markets on account of the rampant growth of the IT-enabled services sector and the increasing number of medical centers in urban areas.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

A market assessment for the report titled "Medical Practice Management Software" is necessary to predict the market estimation and compounded annual growth rate for the forecast period of 2018 to 2026. Market segmentation is done as follows:

Software-based companies providing healthcare services are Allscripts Healthcare Solutions, Inc., AthenaHealth, Cerner Corporation, EPIC Systems, eClinicalWorks, GE Healthcare, Greenway Health LLC, McKesson Corporation, Meditech, and Vitera Healthcare Solutions.

Key questions are answered in this report.

• How are organic and inorganic market growth strategies employed to assess the medical practice management software market's performance?
• Who are the major software companies providing e-healthcare services?
• What is the demand and supply chain associated with the medical practice management software market?
• What are the latest innovations in features and apps provided by software companies providing e-healthcare services?
• Which is the largest and fastest-growing product segment for the medical practice management software market?
• Which is the largest and fastest-growing delivery mode segment for the medical practice management software market?
• Which is the largest and fastest-growing regional segment of the medical practice management software market?

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