Asia-Pacific Expected to Witness Soaring Sales of Practice Management Systems in Coming Years

The rapid establishment of several small and medium hospitals in various countries such as the U.S. is causing a sharp surge in the worldwide demand for practice management systems. As per the data published by the American Hospital Association (AHA) in 2018, there were over 5,500 hospitals in the U.S as of 2018. Out of these, around 2,500 were non-profit organizations. Besides this, the soaring healthcare costs in many countries are also fueling the demand for practice management systems.

Both developed and developing countries are heavily struggling in implementing quality and cost-effective healthcare for their citizens. Despite the availability of insurance programs and surging healthcare expenditure, the healthcare costs are soaring rapidly and making it very difficult for healthcare providers to deliver quality medical care at affordable prices. As practice management systems allow medical practitioners to provide quality treatment at affordable prices, the surging healthcare costs are propelling their sales across the globe.

This is subsequently fueling the expansion of the global practice management systems market. Software and services are the major components of practice management systems. Between these, the demand for software was observed to be higher during the last few years, primarily because of its large-scale adoption for patient engagement solutions, e-prescriptions, and electronic health records (EHR). Furthermore, the customized of practice management system software is quickly becoming a popular global trend.

The customization of the software makes the simplification of the complex information and data possible and also streamlines healthcare operations. Standalone and integrated systems are the main two types of practice management systems used across the world. Between these two, the demand for standalone systems was observed to be higher during the last few years. However, in the future years, the sales of integrated practice management systems will surge sharply all over the world.

This is credited to the fact that these systems offer higher administrative and clinical efficiency than the standalone ones. Web-based, cloud-based, and on-premise based are the most widely used types of delivery modes for practice management systems. Amongst these, the demand for cloud-based delivery mode will skyrocket in the upcoming years. This will be because the cloud-based practice management systems have achieved Health Insurance Portability and Accountability Act (HIPAA) compliance via data centers with high-level encryption methods and bank-level security.

Across the globe, the sales of practice management systems will boom in the Asia-Pacific (APAC) region in the future years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the implementation of favorable government policies regarding the adoption of these systems and the existence of organizations and companies that provide support and help for the rapid development of technologically advanced patient engagement solutions, e-prescription platforms, and EHR in the region.

Hence, it can be said with full confidence that the demand for practice management systems will shoot up across the world in the future years, mainly because of the increasing number of small and medium-sized hospitals in several countries and the growing requirement for cost-effective healthcare and medical treatment.