Behavioral/Mental Health Care Software And Services Market Size, Share & Trends Analysis Report By Component, By Delivery Model, By Function, By End Use, By Region, And Segment Forecasts, 2020 - 2027
The global behavioral health care software and services market size is expected to reach USD 5.0 billion by 2027. It is anticipated to register a CAGR of 11.1% during the forecast period. Behavioral health management software provides ease of communication between care providers and patients and its real-time monitoring feature enables doctors to efficiently track patient progress.
These systems maintain confidentiality regarding patient information, especially in cases of substance abuse and mental health.The software increase productivity and efficiency of mental healthcare, by integrating with its existing infrastructure.
Behavioral healthcare providers help reduce treatment costs by providing value-based medicine programs, thus preventing hospital readmissions. The impact of substance abuse is estimated to be worth USD 600 billion every year in U.S., according to a survey by the Substance Abuse and Mental Health Services Administration (SAMHSA).
The Cures Act provides the vendors with an opportunity of integrating, resulting in the care coordination of both parties.The act will enable interoperability between healthcare providers, especially mental healthcare providers, enable insurance claim submissions, simplify the explanation of benefits, and eliminate the obstacles to reimbursement for faster returns.
New behavioral health integration codes were introduced by the Centers for Medicare & Medicaid Services (CMS) under the psychiatric collaborative care model and behavioral health integration under the successful chronic care management services initiative.
Further key findings from the report suggest: • The software segment held the largest market share in 2019, due to increasing adoption of technological solutions by mental healthcare providers for managing the financial, administrative, and clinical functions
• Subscription services dominated the delivery model segment in 2019 in terms of revenue share. Due to limited budgets and small practice scale, the small-scale mental health practices prefer subscription-based software solutions
• Clinical functions dominated the function segment in 2019 in terms of revenue share. The integration of clinical functions reduces the workload on the mental health care facilities and improves productivity
• North America accounted for the largest market share in 2019 and Asia Pacific is expected to witness the fastest growth over the forecast period
• Partnerships between local health systems and rising integrated care model adoption are expected to create growth opportunities for the behavioral/mental health care software and services market
• Some of the key market players in behavioral health care software and services are Welligent, Inc.; Netsmart Technologies; Epic; Core solutions, Inc.; and Cerner Corporation
Our reports have been used by over 10K customers, including:
Healthcare Analytics Market Size, Share & Trends Analysis Report By Type, By Component, By Delivery Mode, By Application, By End-use, And Segment Forecasts, 2022 - 2030 Healthcare Analytics Market Growth & Trends The global healthcare analytics market size is expected to reach USD 167 billion...
KEY FINDINGS The global medical collagen market is expected to project a CAGR of 6.35% during the forecast period, 2022-2030. The key market growth drivers are the growing awareness among people and the increasing demands from the medical devices industry. MARKET INSIGHTS Collagen is the abundantly...
The Global Animal Healthcare market outlook report presents a roadmap of the Animal Healthcare industry with information on key market opportunities, potential market trends, key strategies, and leading companies. It also presents the annual outlook of Animal Healthcare markets across different types and applications across 19 countries worldwide. The...
The autotransfusion devices market is expected to grow from US$ 1,000.26 million in 2021 to US$ 1,331.99 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. Rapid increase in chronic diseases, rise in transplants, and difficulty in obtaining blood groups across the globe are driving the growth of the market....
120 pages •
By Infiniti Research Limited
• May 2022
Global Radiation Detection Monitoring And Safety Market 2022-2026 The analyst has been monitoring the radiation detection monitoring and safety market and it is poised to grow by $ 1.48 bn during 2022-2026, accelerating at a CAGR of 7.21% during the forecast period. Our report on the radiation detection monitoring and safety...
120 pages •
By Infiniti Research Limited
• Apr 2022
Global Healthcare Revenue Cycle Management (RCM) Software Market 2022-2026 The analyst has been monitoring the healthcare revenue cycle management (RCM) software market and it is poised to grow by $ 29.44 bn during 2022-2026, accelerating at a CAGR of 10.5% during the forecast period. Our report on the healthcare revenue...
The global wireless charging market reached a value of US$ 13.95 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 29.51 Billion by 2027, exhibiting a CAGR of 13.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence...
The global healthcare cognitive computing market reached a value of US$ 3.60 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 11.04 Billion by 2027, exhibiting a CAGR of 19.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well...
The global surrogacy market reached a value of US$ 161.83 Million in 2021. Looking forward, the analyst expects the market to reach a value of US$ 240.56 Million by 2027, exhibiting a CAGR of 6.62% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect...
The behavioral rehabilitation market is projected to reach US$ 540.84 million by 2028 from US$ 350.63 million in 2021; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028. Drug manufacturers play a critical role in introducing new products to cope with the global market’s demands. For instance, in May 2021, Lybalvi (olanzapine...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.