The global practice management systems market is expected to reach $23.85 billion by 2033.

The global practice management system market size was valued at $10.35 billion in 2023 and is expected to reach $23.85 billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Henry Schein, Inc., Allscripts Healthcare, LLC (Veradigm LLC), AdvantEdge Healthcare Solutions, Athenahealth, CollaborateMD Inc., Greenway Health, LLC, OfficeAlly Inc., PracticeSuite Inc., Cerner Corporation (Oracle), Epic Systems Corporation, GE Healthcare, McKesson Corporation, Accumedic Computer Systems, Inc., AdvancedMD, Inc., DrChrono, Inc., and other key vendors.

New York, United States, July 26, 2024 (GLOBE NEWSWIRE) — The global medical practice management system market is expected to grow from USD 10.35 billion in 2023 to USD 23.85 billion by 2033, at a compound annual growth rate (CAGR) of 8.71% during the forecast period.

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A practice management system (PMS) is a software that helps medical practices with billing and administrative tasks. It can be used to schedule appointments, manage patient records, and process insurance claims. Additionally, a practice management system can help streamline workplace procedures and improve employee collaboration. A practice management system (PMS) is an essential tool for healthcare organizations. Practice management systems can improve the effectiveness and efficiency of a practice through improved patient communication, workflow automation, and data-driven insights. While there are many different types of practice management systems, all are designed to make life easier for both physicians and patients. Due to the many characteristics of hospital and healthcare environments, as well as the increasing number of technological breakthroughs, there are many opportunities for market expansion. Additionally, the industry is expected to grow as a result of the increased focus on accessible and better treatments. The practice management system sector has been promoting partnerships and collaborations with other industries due to the intense competition among large competitors. However, healthcare facilities may be reluctant to use EMRs due to concerns about patient privacy and security. There are certain risks associated with using cloud-based medical practice management systems (MPMS), although many hospitals choose to use them due to their affordability and availability compared to on-premises systems.

Browse key industry information across 238 pages, including 119 tables and graphs of market data from the report “Global Practice Management Systems Market Analysis of the size, share and impact of COVID-19, By product (integrated and standalone), by component (software and services), by delivery mode (web, cloud and on-premises), and by region (North America, Europe, Asia Pacific, Latin America, the Middle East and Africa), analysis and forecast 2023-2033.

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The integrated segment is expected to hold the largest share in the global practice management systems market during the forecast period.

Based on product, the global practice management system market is segmented into integrated and standalone. Out of these, the integrated segment is expected to hold the largest share in the global practice management system market during the forecast period. These systems offer several benefits, such as improved patient-provider communication and organized medical billing. Increased complexity of patient treatment and payment, along with centralization of healthcare operations, is driving the expansion of this category.

The software segment is expected to hold the largest share in the global practice management systems market during the forecast period.

Based on component, the global practice management system market is segmented into software and services. Out of these, the software segment is expected to hold the largest share in the global practice management system market during the forecast period. These software tools are widely used by hospitals, healthcare systems, and healthcare professionals to improve patient satisfaction and enhance service levels. Regulatory organizations, especially in industrialized countries, are prioritizing the implementation of universal practice management software as a way to improve healthcare service delivery.

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North America is expected to hold the largest share of the global practice management systems market during the forecast period..

North America is expected to hold the largest share in the global practice management system market during the forecast period. Several factors are expected to contribute to North America’s dominance, such as a patient base with sufficient expertise, high healthcare spending, and high computer literacy. Favorable government initiatives, such as EHR incentive programs offered by Medicaid and Medicare, have led to significant industry expansion in the region. The market is expanding in North America due to several factors, including aging population, growing demand for better healthcare infrastructure, and dominance of large companies in the sector.

Asia Pacific is expected to grow the fastest in the global practice management system market over the forecast period. This increase in patient population is being driven by several variables such as aging population and the rise in chronic diseases. Moreover, the growing markets in the region are witnessing an increasing demand for affordable, high-quality healthcare services. These factors are expected to drive significant market expansion in the coming years.

Competition analysis:

The report offers a proper analysis of the key organizations/companies involved in the global market along with comparative assessment primarily based on their product offerings, business overview, geographical presence, corporate strategies, segment market share, and SWOT analysis. The report also provides a detailed analysis focusing on the current news and events of the companies including product developments, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This helps in assessing the overall competition in the market. The major vendors in the global practice management system market are Henry Schein, Inc., Allscripts Healthcare, LLC (Veradigm LLC), AdvantEdge Healthcare Solutions, Athenahealth, CollaborateMD Inc., Greenway Health, LLC, OfficeAlly Inc., PracticeSuite Inc., Cerner Corporation (Oracle), Epic Systems Corporation, GE Healthcare, McKesson Corporation, Accumedic Computer Systems, Inc., AdvancedMD, Inc., DrChrono, Inc., others.

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Last changes

• In June 2022Weave and Patterson Dental recently partnered on Fuse, a cloud-based dental practice management software. Local dental practices now have access to a range of instruments designed to introduce cutting-edge technology that is typically reserved for larger businesses because of this partnership.

Segment of the market
This study projects revenues at the global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global practice management systems market based on the following segments:

Global Practice Management Systems Market by Product

Global Practice Management Systems Market by Component

Global Practice Management Systems Market by Delivery Mode

• Web based

• Cloud based

• At location

Global Practice Management Systems Market, Regional Analysis

• North America

• Europe

  • Germany

  • Great Britain

  • France

  • Italy

  • Spain

  • Russia

  • Rest of Europe

• Asia and Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Rest of Asia Pacific

• South America

  • Brazil

  • Argentina

  • Rest of South America

• Middle East and Africa

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