Global Medical Practice Management Software (MPMS) Market 2017-2021
About Medical Practice Management Software
MPMS helps to improve and automate every major administrative process in a healthcare institute. Developed for ease-of-use, the solution features convenient accessibility, thereby leveraging the speed of transaction processing and profitability. MPMS manages purchase orders and tracks the inventory requirement efficiently, and maintains the entire supply chain associated with administrative process.
Technavio’s analysts forecast the global medical practice management software market to grow at a CAGR of 8.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global medical practice management software market for 2017-2021. To calculate the market size, the report considers new installations, sales, and volume of MPMS.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Medical Practice Management Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global medical practice management software market: Allscripts, Cerner, CPSI, Epic Systems, General Electric Company, and McKesson.
Other Prominent Vendors in the market are: AdvancedMD, athenahealth, CureMD, Greenway Health, MacPractice, MediGain, Meditab, NextGen Healthcare, NueMD, and Practice Fusion.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing focus on detailed and customized reporting. Reporting has become an essential part of medical practice management to get meaningful insights. Physicians rely on the reporting capabilities of their software systems to give them real numbers and data that can help them gauge the health of their practices.”
According to the report, one driver in the market is increasing need for maximizing chair-time utilization. In medical practices, maximizing of chair-time utilization is the key driver of success. Chair-time is the amount of time a patient spends in the chair in a doctor's clinic either for examination or treatment. The efficient utilization of chair-time by doctors to treat more patients results in higher revenue and improved profits.
Further, the report states that one challenge in the market is data security and privacy concerns. The transition of medical practice into the digital age is exciting, but the challenges of protecting data are getting more complex. In 2016, malware, such as crypto-ransomware, were used by hackers to extort money from medical professionals in exchange for hacked patient records. The medical practitioner must ensure the safety of patient data and malware-free computers, laptops, and flash drives used in the practice environment.
Allscripts, Cerner, CPSI, Epic Systems, General Electric Company, McKesson, AdvancedMD, athenahealth, CureMD, Greenway Health, MacPractice, MediGain, Meditab, NextGen Healthcare, NueMD, and Practice Fusion.