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Practice Management Systems Market Size

Report ID: GMI6572
Published Date: Aug 2023
Report Format: PDF

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Practice Management Systems Market Size

Practice Management Systems Market size accounted for USD 12 billion in 2022 and is estimated to grow at 9.8%, to reach USD 31.1 billion by 2032 due to the increasing demand for streamlined workflow, efficient management of patient records and treatment planning & administrative tasks.

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Also, increasing focus on patient-centric approach by providing tools for patient engagement, secure communication, and appointment reminders enables to strengthen patient-provider relationships and boosts patient satisfaction, contributing to long-term patient loyalty. Further, increasing government initiatives to promote healthcare IT to enhance the efficiency, accessibility, and quality of healthcare services

Practice management system (PMS) is a comprehensive software solution designed to streamline and optimize the administrative and operational tasks within healthcare practices. These systems are tailored to manage various aspects of practice operations, including appointment scheduling, patient registration, billing and claims processing, insurance verification, revenue cycle management, and patient communication. PMS software provides healthcare providers and their staff with tools to efficiently organize and automate day-to-day administrative processes, enhancing the overall efficiency and effectiveness of the practice.

Practice Management Systems Market Report Attributes
Report Attribute	Details
Base Year:	2022
Practice Management Systems Market Size in 2022:	USD 12 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9.8%
2032 Value Projection:	USD 31.1 Billion
Historical Data for:	2018 to 2022
No. of Pages:	180
Tables, Charts & Figures:	257
Segments covered:	Product, Component, Delivery Mode, End-use, and Region
Growth Drivers:	Growing demand to enhance efficiency of current medical practices and patient care Increasing focus for high return on investment Increasing expenditure on healthcare
Pitfalls & Challenges:	Security and privacy concerns Lack of skilled professionals in developing countries

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Practice management systems market size was USD 12 billion in 2022 and may record USD 31.1 billion by end of 2032 driven by surging need for streamlined workflow, efficient management of patient records and treatment planning & administrative tasks

Web/cloud-based practice management systems market size is expected to witness 10.3% CAGR from 2023-2032 driven by the higher need to enable easy and secure access to practice-related data and tools from any location with internet connectivity

North America accounted for 41.1% of the market share in 2022 impelled by the higher adoption of technological advanced solutions in healthcare practices and the strong presence of developed healthcare IT infrastructure

Some of the key practice management system companies include Allscripts Healthcare, LLC (Veradigm LLC), Cerner Corporation (Oracle), Epic Systems Corporation, GE Healthcare, AdvancedMD, Inc., and GE Healthcare among others.