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U.S. Physician Groups' Practice Management Systems Market Size, Share & Trends Analysis Report by Practice Type (Single Specialty Group, Multi-specialty Group), and Segment Forecasts, 2024-2030

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    Report

  • 145 Pages
  • March 2024
  • Region: United States
  • Grand View Research
  • ID: 5950108
The U.S. physician groups’ practice management systems market size is anticipated to reach USD 3.91 billion by 2030, expanding at a CAGR of 9.47% from 2024 to 2030. The development and sale of value-added products are crucial in enhancing patient care, improving operational efficiency, and driving revenue growth for healthcare providers.

The growing adoption of practice management systems in multi-specialty groups’ practices improves efficiency, enhances communication, and streamlines workflows. Major service providers are undergoing strategic development, contributing to the markets growth. For instance, in January 2024, Cardinal Health acquired Specialty Networks, a technology-enabled multi-specialty groups’ practice enhancement and purchasing organization, for USD 1.2 billion. This acquisition is anticipated to accelerate growth in its Specialty Business for Cardinal Health. It aims to bolster its portfolio with cutting-edge technologies, capabilities, and talent to better serve critical business & customer needs.

The COVID-19 pandemic has significantly impacted the market growth. Many physician groups have been impacted by a significant decrease in revenue due to the postponement and cancellation of elective procedures and non-urgent visits. This has been especially challenging for smaller and independent practices. The American Medical Association reports that spending on the Medicare Physician Fee Schedule (MPFS) dropped significantly to around 57% (USD 13.9 billion) in March and April 2020. However, the market growth has been positively impacted by the increasing adoption of telehealth and the shift towards value-based care in the U.S.

U.S. Physician Groups’ Practice Management Systems Market Report Highlights

  • Based on practice type, the single-specialty segment dominated the market in 2023. This can be attributed to the growing patient preference to seamless integration between practice management systems and Electronic Health Records (EHRS) is crucial for efficient operations & continuity of patient care.
  • Growing adoption of EHR systems by single and multispecialty groups, rising need to improve the efficiency of practices & reduce healthcare costs, and availability of several integrated practice management systems are expected to fuel segment growth over the forecast period.
  • In January 2024, Henry Schein, Inc. announced the implementation of its full range of the company’s cloud-based platform, including Jarvis Analytics, Dentrix Ascend, TechCentral, and Detect AI, an AI-enabled X-ray analysis tool powered on the 42 North Dental platform. It aims to provide a scalable experience for patients and clinicians across over 100 practices.
  • In December 2023, North Memorial Health announced the selection of the Oracle Fusion Cloud Applications Suite. The aim is to help improve operation efficiency, minimize cost, and enhance patient and employee experience.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Segment Definitions
1.2. Estimates and Forecast Timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased Database
1.4.2. Internal database
1.4.3. Secondary Sources
1.4.4. Primary Research
1.4.5. Details of Primary Research
1.4.6. Research Assumption
1.5. Information or Data Analysis
1.5.1. Data Analysis Models
1.6. Market Formulation & Data Visualization
1.7. Model Details
1.7.1. Commodity flow Analysis
1.8. Objectives
1.8.1. Objective - 1
1.8.2. Objective - 2
1.8.3. Objective - 3
1.9. List of Secondary Sources
1.10. List of Abbreviations
Chapter 2. Executive Summary
2.1. U.S. Physician Groups’ Practice Management Systems Market
2.1.1. Market Snapshot
2.1.2. Segment Snapshot
2.1.2.1. Practice type segment outlook
2.1.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Trends and Outlook
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Improving infrastructure and digitalization of healthcare
3.3.1.2. Government initiatives to improve revenue for physicians group
3.3.1.3. Development and sale of value-added services
3.3.2. Market Restraint Analysis
3.3.2.1. Risk of data theft
3.3.2.2. Difficulty in maintaining confidentiality of patient information
3.4. Business Environment Analysis Tools
3.4.1. Industry Analysis - Porter’s Five Forces Analysis
3.4.1.1. Supplier power
3.4.1.2. Buyer power
3.4.1.3. Substitution threat
3.4.1.4. Threat of new entrant
3.4.1.5. Competitive rivalry
3.4.2. PESTEL Analysis
3.5. Impact of COVID-19 on U.S. Physician Groups’ Practice Management Systems Market
3.6. Regulatory Scenario & Reimbursement Framework
Chapter 4. Practice Type Business Analysis
4.1. U.S. Physician Group’ Practice Management Systems Practice Type Market: Segment Dashboard
4.2. Practice Type Movement & Market Share Analysis, 2023 & 2030
4.3. U.S. Physician Group’ Practice Management Systems Market Estimates & Forecast, by Practice Type
4.4. Single Specialty
4.4.1. Single specialty market, 2018 - 2030 (USD Million)
4.5. Multi-Specialty
4.5.1. Multi-specialty market, 2018 - 2030 (USD Million)
Chapter 5. Competitive Landscape
5.1. Company Categorization
5.2. Company Market Position Analysis
5.3. Strategy Mapping
5.3.1. Expansion
5.3.2. Acquisition
5.3.3. Collaborations
5.3.4. Others
5.4. Company Profiles/Listing
5.4.1. Henry Schein, Inc.
5.4.1.1. Overview
5.4.1.2. Financial Performance
5.4.1.3. Product Benchmarking
5.4.1.4. Strategic Initiatives
5.4.2. Veradigm LLC (Allscripts Healthcare, LLC)
5.4.2.1. Overview
5.4.2.2. Financial Performance
5.4.2.3. Product Benchmarking
5.4.2.4. Strategic Initiatives
5.4.3. AdvantEdge Healthcare Solutions
5.4.3.1. Overview
5.4.3.2. Financial Performance
5.4.3.3. Product Benchmarking
5.4.3.4. Strategic Initiatives
5.4.4. Athenahealth, Inc.
5.4.4.1. Overview
5.4.4.2. Financial Performance
5.4.4.3. Product Benchmarking
5.4.4.4. Strategic Initiatives
5.4.5. Cerner Corporation (Oracle)
5.4.5.1. Overview
5.4.5.2. Financial Performance
5.4.5.3. Product Benchmarking
5.4.5.4. Strategic Initiatives
5.4.6. GE Healthcare
5.4.6.1. Overview
5.4.6.2. Financial Performance
5.4.6.3. Product Benchmarking
5.4.6.4. Strategic Initiatives
5.4.7. McKesson Corporation
5.4.7.1. Overview
5.4.7.2. Financial Performance
5.4.7.3. Product Benchmarking
5.4.7.4. Strategic Initiatives
5.4.8. EPIC Systems Corporation
5.4.8.1. Overview
5.4.8.2. Financial Performance
5.4.8.3. Product Benchmarking
5.4.8.4. Strategic Initiatives
5.4.9. NXGN Management, LLC.
5.4.9.1. Overview
5.4.9.2. Financial Performance
5.4.9.3. Product Benchmarking
5.4.9.4. Strategic Initiatives
5.4.10. eClinicalWorks
5.4.10.1. Overview
5.4.10.2. Financial Performance
5.4.10.3. Product Benchmarking
5.4.10.4. Strategic Initiatives
5.4.11. CareCloud, Inc.
5.4.11.1. Overview
5.4.11.2. Financial Performance
5.4.11.3. Product Benchmarking
5.4.11.4. Strategic Initiatives
5.4.12. Kareo, Inc.
5.4.12.1. Overview
5.4.12.2. Financial Performance
5.4.12.3. Product Benchmarking
5.4.12.4. Strategic Initiatives
5.4.13. AdvancedMD, Inc.
5.4.13.1. Overview
5.4.13.2. Financial Performance
5.4.13.3. Product Benchmarking
5.4.13.4. Strategic Initiatives
5.4.14. DrChrono, Inc. (EverCommerce)
5.4.14.1. Overview
5.4.14.2. Financial Performance
5.4.14.3. Product Benchmarking
5.4.14.4. Strategic Initiatives
5.4.15. CollaborateMD Inc. (EverCommerce)
5.4.15.1. Overview
5.4.15.2. Financial Performance
5.4.15.3. Product Benchmarking
5.4.15.4. Strategic Initiatives
5.4.16. OfficeAlly Inc.
5.4.16.1. Overview
5.4.16.2. Financial Performance
5.4.16.3. Product Benchmarking
5.4.16.4. Strategic Initiatives
5.4.17. Accumedic Computer Systems, Inc.
5.4.17.1. Overview
5.4.17.2. Financial Performance
5.4.17.3. Product Benchmarking
5.4.17.4. Strategic Initiatives
List of Tables
Table 1. List of secondary sources
Table 2. List of abbreviations
Table 3. U.S. physician groups’ practice management systems market revenue estimates and forecast, by practice type, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4. Market research approaches
Fig. 5 Value chain based sizing & forecasting
Fig. 6 QFD modelling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Market snapshot
Fig. 9 Practice type outlook
Fig. 10 Competitive landscape
Fig. 11 Related market outlook
Fig. 12 U.S. physician groups’ practice management system market dynamics
Fig. 13 U.S. physician groups’ practice management system market: Porter’s analysis
Fig. 14 U.S. physician groups’ practice management system market: PESTLE analysis
Fig. 15 U.S. physician groups’ practice management systems market: Practice type segment dashboard
Fig. 16 U.S. physician groups’ practice management system market: Practice type movement share analysis
Fig. 17 Single specialty market, 2018 - 2030 (USD Million)
Fig. 18 Multi-specialty market, 2018 - 2030 (USD Million)
Fig. 19. Penetration & growth prospect mapping by specialty type, 2023
Fig. 20 Company categorization: U.S. physician groups’ practice management system
Fig. 21 Company market position analysis: U.S. physician groups’ practice management system
Fig. 22. Strategic framework: U.S. physician groups’ practice management system

Companies Mentioned

  • Henry Schein, Inc.
  • Veradigm LLC (Allscripts Healthcare, LLC)
  • AdvantEdge Healthcare Solutions
  • Athenahealth, Inc.
  • Cerner Corporation (Oracle)
  • GE Healthcare
  • McKesson Corporation
  • EPIC Systems Corporation
  • NXGN Management, LLC.
  • eClinicalWorks
  • CareCloud, Inc.
  • Kareo, Inc.
  • AdvancedMD, Inc.
  • DrChrono, Inc. (EverCommerce)
  • CollaborateMD Inc. (EverCommerce)
  • OfficeAlly Inc.
  • Accumedic Computer Systems, Inc.

Methodology

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Table Information