Behavioral Health Care Software and Services Market Player, 2022 - 2030.

The global behavioral health care software and services market size is expected to reach USD 8.6 billion by 2030, expanding at a CAGR of 12.78% from 2022 to 2030, based on a new report by Grand View Research, Inc. Behavioral health management software provides ease of communication between 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 illness. The software increases productivity and efficiency for service providers by integrating with its existing infrastructure. Behavioral healthcare providers help reduce treatment costs by providing value-based medicine programs, thus preventing hospital readmissions.

Behavioral Health Care Software and Services Market Segmentation

Grand View Research has segmented the global behavioral health care software and services market based on component, delivery model, function, end-use, and region:

Based on the Components Insights, the market is segmented into software, and support services.

  • The software provides revenue cycle management to streamline the claims process.
  • The services can vary from appointment scheduling, billing and claims management, e-prescription, telehealth, payroll management, etc.

Based on the Delivery Model Insights, the market is segmented into Clinical, Administrative, and Financial.

  • The market is segmented into ownership and subscription. Unlike large medical practices or hospitals, most small-scale mental healthcare professionals have limited capital to invest in technological solutions.
  • Medical professionals hesitate to spend thousands of dollars on software solutions. With limited budgets, small-scaled practices prefer subscription-based solutions.
  • Large facilities prefer purchasing and installing software solutions for smooth workflow management. Earlier, professionals had limited options to suit their particular needs.

Based on the Function Insights, the market is segmented into Ownership and Subscription.

  • Behavioral health software provides clinical services such as claim filings, documentation, scheduling appointments, billing, and coding. Market players offer standalone solutions as well as all-inclusive solutions.
  • Rapid changing reimbursement scenario, increasing adoption of RCM platforms, and increasing cost of care are boosting the growth of the financial function segment.

Based on the End-Use Insights, the market is segmented into Providers, Payers, and Patients.

  • Based on end-use, providers accounted for over 52.1% of the market revenue share in 2021. The market for mental health care software and services is segmented into providers, payers, and patients.
  • The payer's segment is likely to witness the maximum compound annual growth rate (CAGR) of 13.96% during the forecast period due to the improving reimbursement scenario.
  • The patients segment is projected to witness lucrative growth of 12.81% compound annual growth rate (CAGR) in the coming years.

Behavioral Health Care Software And Services Regional Outlook.

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is characterized by innovation in products due to evolving needs & demand for tools & software to manage & provide psychiatric services. In 2018, SimplePractice, LLC launched a telehealth platform for video conferencing in a behavioral health setting.

Some of the prominent players in the global behavioral health care software and services market include:

  • Cerner Corporation
  • Core Solutions, Inc.
  • Epic
  • Meditab
  • Holmusk
  • Netsmart Technologies
  • Qualifacts Systems, Inc.
  • Welligent, Inc.

Order a free sample PDF of the Behavioral Health Care Software and Services Market Intelligence Study, published by Grand View Research.

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