PUBLISHER: Orion Market Research | PRODUCT CODE: 1215707
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215707
Title:Global Ambulatory HER Market Size, Share & Trends Analysis Report by Delivery Mode(Cloud-Based and On-Premises), by Application(Practice Management, Population Health Management, E-Prescription, Health Analytics, and Referral Management), and by Practice Size(Large Practices, Small-to-Medium Practices, and Solo Practices) Forecast Period (2022-2028).
The global ambulatory HER market is anticipated to grow at a significant CAGR of 5.5% during the forecast period. According to a study by The Commonwealth Fund, a quarter of hospital expenditure comes from administrative costs. The study noted factors such as per-patient billing and the need for administrative staff to negotiate multiple contracts are drivers of these costs. The factors such as the rising need to reduce operating costs in the healthcare industry, increased burden on healthcare providers, and growing need to organize unstructured health data are leading the market growth for the global ambulatory HER market. Further, the integration of advanced technologies, growth of the digital infrastructure, and government support to adopt HER solutions are anticipated to propel the growth of the global HER market for the forecast period.
The global ambulatory HER market is segmented based on delivery mode, application, and practice size. Based on the delivery mode, the market is segmented into cloud-based and on-premise ambulatory HER. Based on the application, the market is sub-segmented into practice management, population health management, e-prescription, health analytics, and referral management. Based on the practice size, the market is sub-segmented into large practices, small-to-medium practices, and solo practices. Among the Application, the practice management segment is anticipated to hold a considerable share during the forecast period. Practice management of ambulatory HER enhances the productivity of day-to-day operations in ambulatory clinics by simplifying clinical functions. Clinical functions such as monitoring and tracking patients, recording patient demographics, automating billing, assisting with claims management, and increasing overall efficiency, among others. The segment's large share is attributed to the benefits of ambulatory HER in improving operational performance, productivity, interoperability, and increasing the value of services provided to patients. For instance, in June 2021, Practice HER, a leading provider of cloud-based medical practice solutions, announced the launch of its enterprise practice management solution, Practice HER Enterprise. The software solution streamlines the medical billing workflow and supports improving financial performance and productivity for medical practitioners and medical billing companies.
Geographically, the global ambulatory HER market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North American Region is expected to hold a prominent share in the ambulatory HER market. The rising awareness regarding health and the growing occurrence of chronic diseases had resulted in the growth of outpatient services which in turn have raised the demand for the ambulatory HER. Moreover, the growing need to organize unstructured health data, and growing investment in building health infrastructure from both private players and government in the region are leading factors driving the growth of ambulatory HER in North America. For instance, in May 2019, the US government introduced Build Back Batter Act (BBBA) to enhance and improve the existing public health system of the country. The act has been introduced post-COVID-19 pandemic, which has surged the requirement for better healthcare infrastructure.
The major companies serving the global ambulatory HER market include. The major companies serving the global ambulatory HER market include Epic Systems Corp., Medical Information Technology Inc., Computer Programs and Systems Inc., Athenahealth Inc., EClinicalWorks Modernizing Medicine, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In September 2021, Medibloc Ltd., a blockchain-based digital healthcare company launched Dr. Palette, a cloud-based electronic medical record (EMR) service that maximizes user convenience and does not require a separate installation to operate.
Research Methodology
The market study of the global ambulatory HER market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size and the intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: