Practice Management System Market Analysis

Product Type (Integrated, Standalone)

The integrated segment in the practice management system market is poised to capture a share of 74.1% in the coming years. Significant growth in the revenue share is anticipated as a result of the benefits it offers such as EHRs, patient engagement, e-prescription, billing systems, and streamlined practitioners. For instance, in May 2023, MEDITECH Software announced an agreement to integrate with Canada Health Infoway's "PrescribeIT" e-prescribing service. Through this agreement, Canadian prescribers could electronically send a prescription to the patient's preferred pharmacy straight from MEDITECH's Expanse EHR. Furthermore, the healthcare industry's centralization and the complexity of patient care and payment will also drive the segment growth.

Component (Software, Service)

By 2036, software segment in the practice management system market is estimated to cross USD 23.1 Billion. This growth is propelled by their easy installation which allows professionals to effectively manage financial administrative, as well as clinical workflows. Hospitals, medical providers, and health systems use them to improve patient satisfaction and care quality. Software is also used by small and medium-sized medical offices to automate and streamline business-related processes. Additionally, in July 2024, the Agency for Healthcare Research and Quality (AHRQ) stated that whether or not a patient's expectations for a medical interaction were fulfilled determines patient satisfaction. Patient satisfaction is taken into consideration in various value-based care compensation models, such as the Inpatient Prospective Payment System (IPPS).

Our in-depth analysis of the practice management system market includes the following segments: