Practice Management System Market

1. Practice Management Systems Market Practice management system is software used in hospitals and physician offices to deal with day-to-day operations. It is mainly used for financial and administrative function. The global Practice Management Systems Market is growing at a significant rate, due to the mounting occurrence of medication errors, and mounting requirement of an integrated healthcare system. Owing to government guidelines for the inclusion of electronic health reports, the sector has seen a strong demand for an advanced practise management system. By product, the market is subdivided into an integrated practice management system and a standalone practice management system. Integrated practice management system segment accounted for larger share and is expected to grow at a faster rate in the market during the forecast period. By delivery mode, the market is subdivided into on-premise, cloud-based, and web-based. The web-based segment accounted foremost share in the practice management systems market. By component, the market is segmented into software, and services. The services segment accounted for the larger share and is expected to grow at a faster rate in the practice management systems market. By end user, the market is segmented into physician, diagnostic labs, pharmacists, and others. The physician's segment accounted the largest share and is expected to grow at the fastest rate during the forecast period.

2. The key growth factors for the demand for practice management systems are the growing pressure of lowering healthcare costs, the increasing incidence of prescription mistakes, the increasing need of the integrated healthcare system, the improvement of healthcare digitalization and modernization of healthcare services, strong government funding, and high return on investment. The growth of the practice management systems market is also driven by an increased trend towards a patient-centred approach, a rise in healthcare and patient awareness, a rising number of hospitals and medical centres, and the growth of cloud-hosted models. Recent News: In May 2018, Northern Valley Indian Health selected eClinicalWorks cloud-centric electronic health record (EHR) system for its providers, to support care coordination between the patient and physician. Competitive Insights: Allscripts Healthcare Solutions, Inc., eClinicalWorks LLC, Medical Information Technology, Inc. (Meditech), Athenahealth Inc., Mckesson Corporation, Cerner Corporation, and General Electric Company are the key players offering practice management systems. VynZ Research Call: +91-996-028-8381 Toll-Free (U.S. and Canada): +1-888-253-3960 Email: enquiry@vynzresearch.com Web: https://www.vynzresearch.com Connect with Us:LinkedIn | Facebook | Twitter