Increasing hospital visiting on the back
of rising prevalence of Chronic and Infectious Diseases creating
favorable environment for market growth
World Health Organization (WHO) estimates that
there would be around 24 million cancer cases globally by 2035. In
the U.S., over one-third of the adult population is obese, as
revealed by statistics released by Centers for Disease Control and
Prevention (CDC) (2016). As obesity is a major predisposing factor to
various diseases such as diabetes and other cardiovascular diseases,
steep rise in patient population is expected in the near future.
Prevalence of infectious diseases is also on the
rise. Moreover, increasing instanced of drug-resistance has mandated
physicians to maintain medication history of patient.
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Rapid rise in geriatric population:
According to WHO, over 2 billion individuals worldwide will
be aged 60 years and above by 2050. A detailed report published by
CDC projects that by 2030, 20% of the U.S. population would comprise
of geriatric people. The report also details that cardiovascular
diseases is the leading cause of deaths in adults aged 65 and above
in the U.S.
Rapid rise in patients visiting hospitals mandates
efficient keeping of patient history and record maintenance, in turn
fueling growth of the practice management systems market.
Practice management system (PMS) helps manage the
daily operations of an organization. These systems find wide
application across various verticals in an industry. Increasing
investments to upgrade healthcare facilities, especially in developed
regions and growth of the healthcare IT industry in developing
regions, is creating a highly conducive environment for growth of the
practice management systems market. Increasing adoption of PMS has
been witnessed in emerging nations such as Indian, China, South
Africa, and Brazil, in order to streamline operations and in turn
provide better healthcare facilities in these countries. PMS allows
for efficient management of health data, patient scheduling, billing
process, and referral policies.
Physicians and group organizations need to
maintain large amounts of data of day-to-day activities. Practice
management system addresses these needs, maintaining critical patient
information such as patient demographics, appointment schedule,
insurance payer data, billing, and diagnostic and treatment history.
Practice management system software are often synchronized with
electronic medical record (EMR) or electronic health records (EMR)
software for better hospital management.
Practice Management Systems Market
Taxonomy:
The global market is segmented as follows:
Software type:
Desktop-only software - intended for single or few
computer sharing access
Client-server software - allow multiple users to
share and access data, and
Internet-based software - do need separate server
for operation
Delivery Platform:
-
Web-based
-
Cloud
-
On-premise
Product Type:
-
Integrated
-
Standalone
Components:
-
Hardware
-
Software
End Users:
-
Physicians
-
Pharmacists
-
Diagnostic Laboratories
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High Installation Cost Hindering Growth in
Emerging Economies
The practice management systems market share is
mainly concentrated in the U.S. mainly due to presence of dense
network of hospitals and existing complex healthcare service
management and insurance systems. The healthcare system in the U.S.,
is very unlike that in other countries. Health Maintenance
Organizations (HMOs) and Preferred Provider Organizations (PPOs) have
been set up, and thus patients tend to visit multiple physicians.
Hence, maintenance of consistence treatment history becomes
difficult. The market is also growing in major European countries
such as the U.K., France, Germany, Italy, and Spain. The PMS market
is yet in its introductory phase in Asia Pacific, Latin America,
Africa, and Middle East regions, owing to low diagnosis and treatment
rate combined with financial challenges linked with deployment of
expensive software systems.
Key Suppliers in the global practice
management systems market: Allscripts Healthcare Solutions,
Inc. Henry Schein MicroMD, Athenahealth, Inc., GE Healthcare, NextGen
Healthcare Information System LLC, Practice Fusion, McKesson
Corporation, Greenway Medical AdvantEgde Healthcare Solutions,
MediTouch, and Accumedic Computer Systems.
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