Market Overview Behavioral health software enables healthcare professionals to diagnose mental illnesses, such as depression, addiction, stress, or anxiety, by analyzing patients' past records and behavioral patterns. This analysis aids in recommending appropriate treatment methods. In the U.S., approximately 43.8 million people, or 1 in 5 adults, experience mental illness each year. The global behavioral health software market is driven by high demand for e-mental health services, digital government initiatives, and increased awareness of healthcare spending. Despite facilitating patient record tracking and financial transactions, the software has not completely addressed geographical barriers, attributed to concerns over data security, privacy, and limited knowledge of software operation. The market is anticipated to grow from $1.15 billion in 2017 to $2.31 billion in 2022, with a compound annual growth rate (CAGR) of 14.8%.
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The Behavioral Health Software Market can be categorized by component into services, software, and support, with end-users including patients, software providers, and payers. Users employ the software for clinical, administrative, and financial purposes, choosing between ownership and subscription models. Ideal behavioral health software should feature advanced credential security, HL7 compliance, ICD-10 code documentation, and patient records with multiple access permissions.
With over 44 million adults in the U.S. experiencing mental health issues and 9 million reporting unmet treatment needs, the evolving mental health software industry aims to bridge these gaps. Notably, Epic Systems Corporation's EMR software, EpicCare, is utilized by hospitals for 54% of U.S. patients and 2.5% worldwide. North America dominates the market, followed by Europe, while Asia-Pacific holds the third position in accessing quality behavioral healthcare. The Middle East and Africa anticipate moderate growth due to economic and social challenges in African countries. Regulatory bodies emphasize data privacy, such as the HIPAA rule in the U.S., which protects patients' private health information (PHI). The Helping Families in Mental Health Crisis Act (HR 2646) further addresses misconceptions hindering mental health providers.
Key players in the Behavioral Health software industry include Pliner Solutions, Quest Diagnostics, Practice Fusion, Cerner Solutions, Optum, Epic Systems Corporation, Office Ally Inc., and others. Despite the industry's leading companies, innovation in mental health care remains challenging due to the significant responsibility involved. In January 2019, Carrier Clinic and Hackensack Meridian Health collaborated to enhance the U.S. behavioral healthcare system. The industry witnessed 56 mergers and acquisitions in 2018, with disclosed prices reaching up to $7.1 billion in the top 10 deals.
For this report, Reports and Data segmented the Global Behavioral/Mental Health Software Market based on components, functionality, end-users, and regions:
By Component
Software (Integrated Software, Standalone Software)
Subscription Models (Ownership Models, Support Services Subscription Models) By Functionality
Electronic Health Records (EHR)
Clinical Decision Support (CDS)
Telehealth
Administrative Functionality (Document/Image Management, Case Management, Workforce Management)
Financial Functionality (Revenue Cycle Management, Managed Care, Accounts Payable/General Ledger, Payroll, Business Intelligence)
Care Plans/Health Management
Clinical Functionality (Patient/Client Scheduling, E-Prescribing) By End User
Providers (Hospitals, Community Clinics)
Payers (Private Practices, Patients) Regional Outlook
North America (U.S.)
Europe (U.K, France)
Asia Pacific (China, India, Japan)
Middle East & Africa
Latin America (Brazil)
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