Boston, MA -- (SBWIRE) -- 06/12/2014 -- Practice Management System Market by Products (Integrated, Standalone), Components (Services, Software), Delivery Mode (On-Premises/Desktop-Only, Web-Based, Cloud-Based) & by End-Users (Physician, Pharmacist, Diagnostic Labs) - Global Trends & Forecast to 2018
The Practice management (PM) system offers advanced scheduling, patient registration, medical billing, stores demographic data, claims management, and reporting.
The developing markets of Middle East, Australia, New Zealand, China, India, Singapore and Malaysia were identified as high growth markets due to favorable government incentives and developing IT infrastructure
In addition, the cloud-based PM system and integrated PM solutions are expected to be the new revenue pockets in this market. Cloud-based model offers enhanced data accessibility at low cost. Integrated system are expected to be the new revenue pockets on account of ongoing federal mandates for integration of electronic health records with PM system for Meaningful Use incentives. In addition, the services segment and web-based PM system segment are the key playing fields. It is attributed to indispensible nature of the services market and remote data accessibility and enhanced security of the stored data.
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The new and innovative product launch was found to be the dominant strategy adopted by the key industry participants to cater the unmet market needs and to increase their market share.
The deviations and the overlap of revenues between the end-users in a number of sources was the major challenge faced while estimating the market size. This challenge was overcome by the validating the data through a large number of industry experts and key opinion leaders.
Companies Mentioned in this Report: ALLSCRIPTS HEALTHCARE SOLUTIONS, INC., ATHENAHEALTH, CERNER CORPORATION, EPIC, ECLINICALWORKS, GE HEALTHCARE, MCKESSON CORPORATION, MEDICAL INFORMATION TECHNOLOGY, INC. (MEDITECH), NEXTGEN HEALTHCARE INFORMATION SYSTEM, LLC. (A SUBSIDIARY OF QUALITY SYSTEMS, INC.), VITERA HEALTHCARE SOLUTIONS (GREENWAY MEDICAL)
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