Physician back office dominated the end-user segment in the market in 2021 due to the growing adoption of this system in the physician offices.The cloud-based practice management solutions segment is expected to showcase the fastest growth during the forecast period owing to advantages such as ready availability of information even in remote locations, higher reliability, and faster processing.Software held the largest revenue share in the component segment in 2021 owing to technological advancement and new product launches.The integrated product segment captured the largest market share in 2021 due to benefits, such as enhanced efficiency and communication across various departments and reduced administrative and medical errors. Changing dynamics of hospital/healthcare settings and the development and sale of value-added services are driving the growth of the market. Practice Management Systems Market Report Highlights Despite significant healthcare-related funding and insurance programs, there has been a constant rise in healthcare costs in the U.S., thus affecting healthcare providers. Political instability, economic stress, and lack of proactive initiatives are exerting adverse effects on healthcare funding. The increase in adoption of IoT in healthcare and technological breakthroughs, increased use of mobiles and the internet, and rising demand for practice management solutions are key factors attributing to the market growth. Initiatives like these positively impacted the market growth during the pandemic. These screening steps can help with patient identification and tracking of patients confirmed or suspected to have coronavirus infection. Key Players such as Allscripts Healthcare have offered a package of COVID-19 solutions for hospitals that address disease-specific needs such as SunriseTM EHR, Parago HER, and Allscripts Care Director, with the target of reducing screening and monitoring time. Over the forecast period, the COVID-19 influence is projected to drive the growth of the market. With the help of practice management systems, healthcare providers can offer the right treatment at an effective price, thus reducing treatment costs. Increasing focus on implementing cost-effective, quality care will further boost the market growth. practice management systems market size is expected to reach USD 11.5 billion by 2030, registering a CAGR of 4.5%ĭemand for practice management systems is growing due to increasing pressure to curb healthcare costs and changing dynamics of hospital/healthcare settings. Practice Management Systems Market Size, Share & Trends Analysis Report by Product (Integrated, Standalone), by Component (Software, Services), by Delivery Mode, by End Use, and Segment Forecasts, 2022-2030" report has been added to 's offering.
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