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Medical Practice Management Software Market by End-user, Deployment, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR44461
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The medical practice management software (MPMS) market share is expected to increase by USD 1.70 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.65%.

This medical practice management software (MPMS) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers medical practice management software (MPMS) market segmentations by end-user (hospitals, diagnostic laboratories, physicians, and pharmacists) and geography (North America, Europe, APAC, South America, and MEA). The medical practice management software (mpms) market report also offers information on several market vendors, including AdvancedMD Inc., Allscripts Healthcare Solutions Inc., athenahealth Inc., CareCloud Inc., Cerner Corp., Computer Programs and Systems Inc., Epic Systems Corp., General Electric Co., Greenway Health LLC, and McKesson Corp. among others.

What will the Medical Practice Management Software (MPMS) Market Size be During the Forecast Period?

Medical Practice Management Software (MPMS) Market Size

Download Report Sample to Unlock the Medical Practice Management Software (MPMS) Market Size for the Forecast Period and Other Important Statistics

 

Medical Practice Management Software (MPMS) Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and after post COVID-19 era. The increasing need for maximizing chair-time utilization is notably driving the medical practice management software (MPMS) market growth, although factors such as threat from open-source mpms may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical practice management software (mpms) market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Medical Practice Management Software (MPMS) Market Driver

The increasing need for maximizing chair-time utilization is one of the key factors driving the growth of the global medical practice management software market. In medical practices, maximizing 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. The challenges to optimal chair-time are failure to attend, short notice cancellations, and unreserved chair-time. It has become essential for hospitals to adopt MPMS which helps in eliminating these challenges. For instance, MPMS features, such as automated recall, help in efficient appointment booking. The automated recall feature automatically sends out a reminder message to the patients for their next appointment and confirms their booking by filtering the replies. The appointments are automatically updated, and confirmation notices are sent to the patients. Thus, MPMS helps in saving time by avoiding routine calls to every patient and efficient utilization of chair-time by automating the appointment schedule.

Key Medical Practice Management Software (MPMS) Market Trend

Increasing focus on detailed and customized reporting will fuel the global medical practice management software market growth. 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. MPMS generates reports on a daily basis and provides insights into unassigned credits, appointments turned out, and post-op calls. The reports can be reviewed on a daily or weekly basis to gain more knowledge on administrative activities, such as prescriptions, deleted transactions, delinquent accounts, outstanding claims, and credit distribution audit trails of medical practice. However, the reporting capabilities of MPMS go beyond the basic daily and weekly numbers. They provide information on basic finances, important hidden data, and potential sources of revenue. Such factors will increase the global medical practice management software market growth.

Key Medical Practice Management Software (MPMS) Market Challenge

Threat from open-source MPMS is a major challenge for the global medical practice management software market growth. The global MPMS market has open-source vendors that provide a range of business analytic tools and applications. Open-source MPMS can be downloaded and run on all platforms. As the purchasing and licensing costs of the commercial MPMS are high, numerous small- and medium-sized enterprises and individual users prefer open-source products, which are freely available on the Internet. The basic and common features provided in the propriety MPMS are available in most open-source MPMS. A combination of multiple products from open-source vendors can provide almost all the functionalities provided by paid subscription to MPMS. Open-source vendors provide features such as appointment management, accounting, clinical charts, treatment plan, imaging, and claims management. The presence of MPMS vendors is reducing the market share of propriety MPMS vendors. Such factors will hinder the global medical practice management software market growth.

This medical practice management software (MPMS) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global medical practice management software (MPMS) market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the medical practice management software (mpms) market during the forecast period.

Who are the Major Medical Practice Management Software (MPMS) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AdvancedMD Inc.
  • Allscripts Healthcare Solutions Inc.
  • athenahealth Inc.
  • CareCloud Inc.
  • Cerner Corp.
  • Computer Programs and Systems Inc.
  • Epic Systems Corp.
  • General Electric Co.
  • Greenway Health LLC
  • McKesson Corp.

 

This statistical study of the medical practice management software (MPMS) market encompasses successful business strategies deployed by the key vendors. The medical practice management software (MPMS) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • AdvancedMD Inc. - The company offers practice management software such as medical billing software, managed billing services, medical scheduling software, credit card processing, and others. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The medical practice management software (MPMS) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Medical Practice Management Software (MPMS) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the medical practice management software (mpms) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global application software market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Medical Practice Management Software (MPMS) Market?

Medical Practice Management Software (MPMS) Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

37% of the market’s growth will originate from North America during the forecast period. The US is the key market for the medical practice management software (MPMS) market in North America. Market growth in this region will be slower than the growth of the market in regions.

The increasing need for maximizing chair-time utilization will facilitate the medical practice management software (MPMS) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic has increased the need for healthcare information software, thereby increasing the adoption of MPMS solutions by the healthcare industry in the region. For example, many COVID-19 vaccines clinical trial sponsors adopted this software to ensure continuity in data collection during the pandemic. Likewise, various mobile-based medical applications and software functions have been used to support governments' measures for public health surveillance, enable the distribution of patient records, and streamline communication for both patients and care providers. Such factors have driven the MPMS market in North America and ensured its growth during the forecast period.

What are the Revenue-generating End-user Segments in the Medical Practice Management Software (MPMS) Market?

Medical Practice Management Software (MPMS) Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The medical practice management software (MPMS) market share growth by the Hospital segment will be significant during the forecast period. The hospitals will adopt MPMS for the effective management of appointments, treatments, and insurance claims, as well as to capture patient demographics and generate reports. Doctors, who provide medical treatment in hospitals, are part of the medical practice management of hospitals. The challenges faced by hospitals include the high number of administrative processes and collaboration among staff across multiple sites. To overcome these challenges, hospitals adopt MPMS.

This report provides an accurate prediction of the contribution of all the segments to the growth of the medical practice management software (MPMS) market size and actionable market insights on post COVID-19 impact on each segment.

 

Medical Practice Management Software (MPMS) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 9.65%

Market growth 2021-2025

$ 1.70 billion

Market structure

Fragmented

YoY growth (%)

8.65

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 37%

Key consumer countries

US, UK, Japan, Germany, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AdvancedMD Inc., Allscripts Healthcare Solutions Inc., athenahealth Inc., CareCloud Inc., Cerner Corp., Computer Programs and Systems Inc., Epic Systems Corp., General Electric Co., Greenway Health LLC, and McKesson Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Medical Practice Management Software (MPMS) Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive medical practice management software (MPMS) market growth during the next five years
  • Precise estimation of the medical practice management software (MPMS) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical practice management software (MPMS) industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of medical practice management software (MPMS) market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Application software

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 Hospitals - Market size and forecast 2020-2025
      • Exhibit 17: Hospitals - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Hospitals - Year-over-year growth 2020-2025 (%)
    • 5.4 Diagnostic laboratories - Market size and forecast 2020-2025
      • Exhibit 19: Diagnostic laboratories - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Diagnostic laboratories - Year-over-year growth 2020-2025 (%)
    • 5.5 Physicians - Market size and forecast 2020-2025
      • Exhibit 21: Physicians - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Physicians - Year-over-year growth 2020-2025 (%)
    • 5.6 Pharmacists - Market size and forecast 2020-2025
      • Exhibit 23: Pharmacists - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Pharmacists - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by End-user
      • Exhibit 25: Market opportunity by End-user

    6 Market Segmentation by Deployment

    • 6.1 Market segments
      • Exhibit 26: Deployment - Market share 2020-2025 (%)
    • 6.2 Comparison by Deployment
      • Exhibit 27: Comparison by Deployment
    • 6.3 Cloud-based - Market size and forecast 2020-2025
      • Exhibit 28: Cloud-based - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Cloud-based - Year-over-year growth 2020-2025 (%)
    • 6.4 On-premises - Market size and forecast 2020-2025
      • Exhibit 30: On-premises - Market size and forecast 2020-2025 ($ million)
      • Exhibit 31: On-premises - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Deployment
      • Exhibit 32: Market opportunity by Deployment

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 34: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 35: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 38: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 APAC - Market size and forecast 2020-2025
      • Exhibit 40: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: APAC - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 42: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 44: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 45: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 46: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 47: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Competitive scenario
            • 10.2 Vendor landscape
              • Exhibit 49: Vendor landscape
            • 10.3 Landscape disruption
              • Exhibit 50: Landscape disruption
              • Exhibit 51: Industry risks

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 52: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 53: Market positioning of vendors
            • 11.3 AdvancedMD Inc.
              • Exhibit 54: AdvancedMD Inc. - Overview
              • Exhibit 55: AdvancedMD Inc. - Product and service
              • Exhibit 56: AdvancedMD Inc. - Key offerings
            • 11.4 Allscripts Healthcare Solutions Inc.
              • Exhibit 57: Allscripts Healthcare Solutions Inc. - Overview
              • Exhibit 58: Allscripts Healthcare Solutions Inc. - Business segments
              • Exhibit 59: Allscripts Healthcare Solutions Inc. - Key news
              • Exhibit 60: Allscripts Healthcare Solutions Inc. - Key offerings
              • Exhibit 61: Allscripts Healthcare Solutions Inc. - Segment focus
            • 11.5 athenahealth Inc.
              • Exhibit 62: athenahealth Inc. - Overview
              • Exhibit 63: athenahealth Inc. - Product and service
              • Exhibit 64: athenahealth Inc. - Key offerings
            • 11.6 CareCloud Inc.
              • Exhibit 65: CareCloud Inc. - Overview
              • Exhibit 66: CareCloud Inc. - Business segments
              • Exhibit 67: CareCloud Inc. - Key news
              • Exhibit 68: CareCloud Inc. - Key offerings
              • Exhibit 69: CareCloud Inc. - Segment focus
            • 11.7 Cerner Corp.
              • Exhibit 70: Cerner Corp. - Overview
              • Exhibit 71: Cerner Corp. - Business segments
              • Exhibit 72: Cerner Corp. - Key news
              • Exhibit 73: Cerner Corp. - Key offerings
              • Exhibit 74: Cerner Corp. - Segment focus
            • 11.8 Computer Programs and Systems Inc.
              • Exhibit 75: Computer Programs and Systems Inc. - Overview
              • Exhibit 76: Computer Programs and Systems Inc. - Business segments
              • Exhibit 77: Computer Programs and Systems Inc. - Key news
              • Exhibit 78: Computer Programs and Systems Inc. - Key offerings
              • Exhibit 79: Computer Programs and Systems Inc. - Segment focus
            • 11.9 Epic Systems Corp.
              • Exhibit 80: Epic Systems Corp. - Overview
              • Exhibit 81: Epic Systems Corp. - Product and service
              • Exhibit 82: Epic Systems Corp. - Key offerings
            • 11.10 General Electric Co.
              • Exhibit 83: General Electric Co. - Overview
              • Exhibit 84: General Electric Co. - Business segments
              • Exhibit 85: General Electric Co. - Key offerings
              • Exhibit 86: General Electric Co. - Segment focus
            • 11.11 Greenway Health LLC
              • Exhibit 87: Greenway Health LLC - Overview
              • Exhibit 88: Greenway Health LLC - Product and service
              • Exhibit 89: Greenway Health LLC - Key offerings
            • 11.12 McKesson Corp.
              • Exhibit 90: McKesson Corp. - Overview
              • Exhibit 91: McKesson Corp. - Business segments
              • Exhibit 92: McKesson Corp. - Key offerings
              • Exhibit 93: McKesson Corp. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 94: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 95: Research Methodology
                • Exhibit 96: Validation techniques employed for market sizing
                • Exhibit 97: Information sources
              • 12.4 List of abbreviations
                • Exhibit 98: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
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              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Medical Practice Management Software (MPMS) Market market growth will increase by $1.70 bn during 2021-2025.
              The medical practice management software (mpms) market market is expected to grow at a CAGR of 9.65% during 2021-2025.
              Technavio has segmented the medical practice management software (mpms) market market by end-user (hospitals, diagnostic laboratories, physicians, and pharmacists) ,geography (North America, Europe, APAC, South America, and MEA) , and geographic (North America, Europe, APAC, South America, and MEA).
              AdvancedMD Inc., Allscripts Healthcare Solutions Inc., athenahealth Inc., CareCloud Inc., Cerner Corp., Computer Programs and Systems Inc., Epic Systems Corp., General Electric Co., Greenway Health LLC, McKesson Corp. are a few of the key vendors in the medical practice management software (mpms) market market.
              North America will register the highest growth rate of 37% among the other regions. Therefore, the medical practice management software (mpms) market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the medical practice management software (mpms) market market growth are:
              • Increasing need for maximizing chair-time utilization
              • Increasing focus on detailed and customized reporting
              The medical practice management software (mpms) market market vendors should focus on grabbing business opportunities from the hospitals segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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