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:
Increasing hospital visiting on the back of rising prevalence of Chronic and Infectious Diseases creating favorable environment for market growth
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.
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.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.