About Physician Practice Management
A physician practice comprised of two or more physicians organized to provide patient care services. These practices are valued for outright purchase or for physician group alignment strategies such as direct employment or a professional service agreement. Government initiatives to upgrade the healthcare facility infrastructure in the United States are the key driving factor for the market. Moreover, the digitalization of documents and databases is expected to drive the growth of the practice management market over the forecast period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Physician Practice Management market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Allscripts Healthcare Solutions, Inc. (United States), Cerner Corporation (United States), athenahealth, Inc. (United States), Greenway Medical (United States), Epic (United States), McKesson Corporation (United States), MEDITECH (United States), Henry Schein MicroMD (United States), AdvantEgde Healthcare Solutions (United States) and NextGen Healthcare Information System LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Practice Fusion (United States), Accumedic Computer Systems (United States), PrivaMD (United States), GE Healthcare (United Kingdom) and MediTouch (Israel).
Segmentation Overview
AMA Research has segmented the market of Global Physician Practice Management market by , Application (Private Practice, Group Practice, Large Health Maintenance Organizations (HMOs) and Others) and Region.
On the basis of geography, the market of Physician Practice Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Type, the sub-segment i.e. On-premise will boost the Physician Practice Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Software (Integrated and Standalone) will boost the Physician Practice Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Independent Physicians will boost the Physician Practice Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On August 27, 2020, Allscripts ambulatory business has increased momentum with 18 new physician practices selecting Allscripts this year for ambulatory and population health solutions to help provide safer patient care, streamline operations, and improve revenue for their organizations.
Market Drivers
- Growing Administrative Burden, Increasing Cost of Operation, and Reduced Efficiency
- Increasing Need to Integrate Healthcare System, and Rising Incentives by Federal Government
- Increase in Establishment of Small and Medium Hospitals
Opportunities
- The Arrival of Next Generation PPMs Will Provide Many Opportunities across the Healthcare Value Chain
- Growing Inclination towards Patient-Centric Care Approach
Restraints
- Lack of Skilled and Trained IT Professionals
- Data Privacy and Security Issues and Interoperability Issues
Challenges
- Choosing the Right Partner Will Be the Key Challenge
Key Target Audience
Physician Practice Management Service Providers, Software Developers, Software Integrators, Hospitals and Clinics, Investors, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.