DUBLIN--(BUSINESS WIRE)--The "Behavioral/Mental Health Care Software & Services Market Size, Share & Trends Analysis Report By Component, By Delivery Model, By Function, By End Use, By Region, And Segment Forecasts, 2019 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global behavioral/mental health care software & services market size is expected to reach USD 5.06 billion by 2026
It is anticipated to register a CAGR of 13.1% during the forecast period. Behavioral health management software facilitates clear communication between patients and care providers. The real-time monitoring allows doctors to keep track of patient progress.
These systems maintain confidentiality of patient information, especially in cases of mental health and substance abuse. The effectiveness and productivity of mental healthcare can be improved by integrating advanced behavioral health software solutions within existing mental healthcare infrastructure.
Behavioral healthcare providers help reduce costs related to substance abuse by providing value-based medicine programs by preventing hospital readmissions. According to a survey by the Substance Abuse and Mental Health Services Administration (SAMHSA), the impact of substance abuse is estimated to be worth USD 600 billion every year in U.S.
The Cures Act will provide an opportunity to the vendors to integrate with each other and enable care coordination of both parties. The act will facilitate interoperability between mental and overall healthcare providers. This cooperation will eliminate obstacles to reimbursement, simplify the explanation of benefits, and enable insurance claim submissions 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:
- Software segment held the largest market share in 2018. Increased adoption of the technological solutions for the management of clinical, administrative, and financial functions of mental health care practices is responsible for market growth
- Subscription services led the delivery model segment in 2018. Mostly, the small-scaled mental health practices operate on a limited budget to invest in technological solutions
- Moreover, these professionals are unable to qualify for incentives for meaningful use of EHRs due to the small scale of their practice. Hence, they prefer to subscribe to the solutions instead of purchasing
- Clinical functions led the market in 2018 as the integration of clinical function simplifies workload of mental health care facilities. On the other hand, the administrative functions are expected to showcase the fastest CAGR over the forecast period
- North America led the overall market in terms of revenue in 2018. Asia Pacific, on the other hand, is likely to experience the fastest CAGR in the forthcoming years
- High competition in the behavioral/mental health care software & services market is likely to lead to increased adoption of integrated care models and partnerships between local health systems
- Some of the key market players are Cerner Corporation, Core solutions, Inc., Epic, Netsmart Technologies, and Welligent, Inc.
Key Topics Covered:
Chapter 1 Research Methodology
1.1 Information Procurement
1.2 Data Analysis
Chapter 2 Executive Summary
2.1 Market Snapshot
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation and Scope
3.1.1 Market Driver Analysis
188.8.131.52 Emerging technologies in behavioral health
184.108.40.206 Rising awareness about substance abuse management
220.127.116.11 Expanding reimbursement coverage in developed countries
3.1.2 Market Restraint Analysis
18.104.22.168 Inadequate funding and low awareness about mental health issues
22.214.171.124 Lack of skilled clinicians
3.2 Penetration & Growth Prospects Mapping
3.3 Behavioral/Mental Health Care Software & Services Market - PESTLE Analysis
3.4 Industry Analysis - Porter's
Chapter 4 Behavioral/Mental Health Care Software & Services Market: Component Estimates & Trend Analysis
4.1 Behavioral/mental Health Care Software & Services Market: Component Movement Analysis
4.2.1 Software Market, 2014 - 2025 (USD Million)
4.2.2 Integrated Software
4.2.3 Standalone Software
4.3 Support Services
Chapter 5 Behavioral/Mental Health Care Software & Services Market: Delivery Model Estimates & Trend Analysis
5.1 Behavioral/Mental Health Care Software & Services Market: Delivery Model Movement Analysis
Chapter 6 Behavioral/Mental Health Care Software & Services Market: Function Estimates & Trend Analysis
6.1 Behavioral/Mental Health Care Software & Services Market: Function Movement Analysis
6.2 Clinical Functions
6.2.1 Clinical Functions Market, 2014 - 2025 (USD Million)
6.2.3 Clinical Decision Support
6.2.4 Care Plans
6.3 Administrative Functions
6.3.2 Patient/Client Scheduling
6.3.3 Document Management
6.3.4 Case Management
6.3.5 Workforce Management
6.3.6 Business Intelligence
6.4 Financial Functions
6.4.1 Financial Functions Market, 2014 - 2025 (USD Million)
6.4.2 Revenue Cycle Management
6.4.3 Managed Care
6.4.4 General Ledger
Chapter 7 Behavioral/Mental Health Care Software & Services Market: End Use Estimates & Trend Analysis
7.1 Behavioral/Mental Health Care Software & Services Market: End Use Movement Analysis
7.2.1 Providers Market, 2014 - 2025 (USD Million)
7.2.2 Hospitals & Clinics
7.2.3 Community Centres
Chapter 8 Behavioral/Mental Health Care Software & Services Market: Regional Estimates & Trend Analysis
8.1 Behavioral/mental health care software & Services Market Share by Region, 2017 & 2025
Chapter 9 Competitive Landscape
- Cerner Corporation
- Core solutions, Inc.
- EMIS Health
- Netsmart Technologies
- Qualifacts Systems, Inc.
- Welligent, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/f7gcl2