The U.S. healthcare ERP market size is expected to reach USD 2.1 billion by 2025, registering a 5.6% CAGR from 2019 to 2025, according to a new report by Radiant Insights, Inc. The market is expected to grow over the forecast period owing to the continued adoption of ERP software among healthcare providers based in the U.S. to deal with large volumes of data accumulated through digital resources. The rising burden of processing payment, insurance, and other administrative information of newly-enrolled patients on healthcare administrators is also expected to drive the adoption of healthcare ERP solutions in the U.S.
Cloud computing technology has triggered a paradigm shift from an on-premise deployment to a cloud-based deployment of ERP solutions in the U.S. Moreover, a hybrid deployment can support the features of both on-premise deployment and cloud-based deployment of these solutions, thereby ensuring cost-effectiveness, data security, and agility in administrative processes. A hybrid deployment also helps in overcoming the cost concerns associated with on-premise deployment and the security concerns associated with cloud-based deployment. Cloud-based deployment of ERP solutions in the U.S. is expected to grow at a rapid pace over the forecast period owing to the benefits associated with the hybrid deployment.
Vendors in the market for healthcare ERP in the U.S. are trying aggressively to increase their customer base and gain a competitive edge over their rivals. They are focusing on licensing and strategic partnerships as part of the efforts toward this end. Companies, such as SAP SE, Microsoft Corporation, and Nuvolo, among others, are also focusing on strategic technology collaborations either to develop new healthcare ERP applications for the U.S. market or to add new capabilities to their existing applications. On the other hand, healthcare providers are also focusing on replacing obsolete technologies with the latest technologies to adapt to the changing requirements.
Further key findings from the report suggest:
• The patient relationship management segment is expected to emerge as the fastest-growing segment over the forecast period as medical care providers are finding it challenging to strengthen their relationships with patients owing to the continued enrolment of new patients
• The integration of artificial intelligence (AI) in healthcare ERP solutions is allowing to provide personalized patient care by determining the condition of patients and providing them with the necessary care
• The initiatives undertaken by the government to improve healthcare facilities are expected to open opportunities for the growth of the market
• Medical care administrators in the U.S. are focusing on integrating natural language processing (NLP) programs and machine learning (ML) in their ERP systems to employ predictive analytics in proactively identifying patients
• Some of the key players in the U.S. healthcare ERP market include Epicore Softcare Corporation; Infor; Oracle Corporation; Microsoft Corporation; Sage Software Solution Pvt. Ltd.; and QAD Inc.; among others.
I already drew attention to the gradual increase in quality medical programs and applications. I understand that this industry is one of the most labor-intensive IT jobs. One project can involve many development specialists. However, you can understand everything yourself if you read about how much does it cost to develop an app. The customers of such applications are large medical holdings or the state but I think that the share of private orders will increase over time.