Behavioral Health Care Software And Services Market Component Outlook and Research Report

Behavioral Health Care Software And Services Industry Overview

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 Component Insights, the market is segmented into Software and Support Services.

• The software segment dominated the market with a share of 83.0% in 2021. Increased adoption of technological solutions for the management of financial, administrative, and clinical functions of psychiatry practices is responsible for the segment growth.
• The segment is further bifurcated into integrated and standalone. Integrated software has all the functionalities combined in one single package. 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 Ownership and Subscription.

• The subscription segment held the majority of the market share in 2021 and is anticipated to register the highest compound annual growth rate (CAGR) of 12.3% during the forecast period.
• With the advent of technological advancements, varieties of options are now available in the market, favoring the growth of the ownership segment.

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

• Based on function, the clinical functions segment dominated the market in terms of revenue share in 2021 and is expected to maintain its prominent position in the market with a 3.9% compound annual growth rate (CAGR) throughout the forecast period.
• The administrative functions, on the other hand, are anticipated to be the fastest-growing segment in the forthcoming years.
• 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.
• On the other hand, 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. The rising prevalence of anxiety and stress, increasing availability of a variety of mobile apps, and improving internet access are propelling the growth of the segment.

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.

Some prominent players in the Behavioral Health Care Software And Services market include

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

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