PUBLISHER: Grand View Research | PRODUCT CODE: 1772270
PUBLISHER: Grand View Research | PRODUCT CODE: 1772270
The U.S. practice management system market size is anticipated to reach USD 13.70 billion by 2033, growing at a CAGR of 10.03% from 2025 to 2033, according to a new report by Grand View Research, Inc. The market's growth can be attributed to the changing dynamics of hospital/healthcare settings and increasing pressure to curb healthcare costs. With the help of practice management systems, healthcare providers can offer the right treatment at an effective price, thus reducing treatment costs.
The rising demand for value-added products and services contributes to the adoption and utilization of practice management systems (PMS). PMS software helps streamline administrative tasks, such as appointment scheduling, billing, and electronic health record (EHR) management. Integrating value-added services into PMS platforms enhances the overall patient experience, optimizes workflow efficiency, and improves practice profitability. For instance, in December 2023, Veradigm LLC launched a conversational AI agent for Practice Fusion Billing Services. The AI can help answer questions in a conversational format and simplify the billing process for independent healthcare providers. This enhancement aimed to optimize financial management for healthcare providers and meet their needs.