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In this article, we will have a look at the top healthcare software companies in the USA, both publicly traded and privately held ones, to make our humble attempt of helping you understand the market better.
Healthcare software companies help to create and deliver products and services, systems and solutions within the industry facing and solving tones of clients needs. Whether short-term trading or long-term investments people can buy shares of public healthcare software businesses.
There may be so many different and often unrelated spheres in the businesses of a particular healthcare provider, and it is necessary to have a clear vision and understanding of it.
Up to now, unfortunately, there are no separate sector funds intended for healthcare software. Yet, there are funds to get acquainted with in the bigger sector, and also exchange-traded funds (ETFs).
In Medical Practice Management, for instance, the medical practice process is being enhanced and streamlined. The apps that help to book an appointment or to print medical prescriptions or even pay for a service can be used either at private doctor’s offices or large medical centers.
Medical Services Through Web Portals can be implemented as a recurrent service for appointment booking, advertising, and promotion. It can be bought as a personalized theme for a new website as well. These portals are ready-made independent products ranging from a simple listing on a website for a clinic to a therapist consultation online to educational and advertising solutions. Medical Record-Keeping software and products are meant for both a private doctor’s office to large medical centers. Moreover, these services can be even used by government healthcare organizations.
As to the Networking Solutions, they are used for a variety of purposes. A healthcare software app can connect different medical entities like drug providers to medical representatives, patients to hospitals, laboratories, chemists, etc.
There are healthcare products and services for optimizing different operations in the large hospitals running and administration – the Hospital Management ones. An individual doctor’s clinic may find medical record-keeping software sufficient, but a large hospital will additionally need other modules to maintain schedules of multiple doctors, inventory management of various devices in the hospital, its billing and payment system, as well as modules to be used by hospital security staff.Software to Operate a Medical Instrument is of great importance as a powerful help for healthcare device teams. An electrocardiogram instrument, for instance, may be built by one company, but the software that improves the working process may be built by another one. Whether it is about managing requirements or the connected risks, they make regulatory submissions easier as well as audit lineups.
One more stream that is worth considering is Software for Medical Research. Gone are the times of fully manual calculation in medical experiments and research. Human error risks were common and the cost of study, especially when the patients’ data was considerably big. Thanks to modern technology, medical research became far more accurate and efficient due to the great statistical devices. In the software for medical research, attention goes to creating apps, software, and platforms for medical study companies so that their research work is done faster, easier and better.
All in all, healthcare software development companies play a key role in the process of innovation.
5 Best Publicly Traded Medical Software Companies
- McKesson Corp. boasts 86% of institutional holdings and has an impressive market cap of $28.4 billion. The NYSE-catalogued company provides leading-edge technology solutions for the most advanced patients care, effective, fast, and at lower costs. McKesson’s products include software and consulting to medical institutions and healthcare agencies as well as services to connect patients with medical providers, pharmacies with payers, etc. The company’s main directions are medical-surgical, pharmaceuticals, CoverMyMeds, specialty practice solutions, and they have their two centers outside the USA – in Canada and Europe.
- Cerner Corp. has proved to be a trustworthy provider during its 40 years history on the market. Being included in NASDAQ, the company owns $22.8 billion of a market cap connecting people and systems globally. Cerner’s healthcare services, devices, IT solutions, and hardware empower both the financial and clinical spheres of the medical world. Having the right knowledge, being able to manage and engage with the patients keeps transforming the healthcare industry impressively.
- Then goes Allscripts Healthcare Solutions with their market cap of $1.4 billion. The NASDAQ-listed company successfully generates and creates insights that contribute to healthier lives through the advanced quality in the medical industry. The company served 2,205 hospitals worldwide, has 18 NHS trusts, and 21 million globally connected consumers.
- One more noble name on the list is GE Healthcare for its immense contribution to medical research, medical imaging, and analysis systems with $1 billion annual investments in R&D. The company owns 4 million different healthcare devices around the globe and supports more than 300 thousand consumers daily. Every year more than 2 billion patient scans are managed by GE solutions.
- Computer Programs & Systems own 87% of the institutional property and is also on the NASDAQ list. The company focuses primarily on healthcare solutions and management for smaller hospitals. CPSI’s market cap is $660 million supporting around 4,000 healthcare equipment across the USA.
Best Privately-Held Medical Software Companies
- Athenahealth has united in its network around 140 thousand healthcare providers for both patients and clinical benefits. Apart from medical practice software and products they offer digital services for billing, eHealth records, voice solutions, etc.
- Since 1979 Epic Systems Corp. develops healthcare solutions for integration in different medical areas. The company began with one and a half employees somewhere in a basement office and grew to a market leader with more than 250 million patients.
- eClinicalWorks for more than 20 years has been offering clinical software to help in managing patients’ data and serves all but large healthcare institutions. The company now has around 50000 employees who contribute to the world’s healthcare IT innovations.
- The winner of many awards like the ones from United Way Suncoast, HIMSS, Becker’s hospital review, Greenway Health LLC provides administrative and clinical solutions for the health care sector and gives much importance to the role of community engagement.
- One of the biggest cloud-based electronic health record platforms in the USA is Practice Fusion, Inc. They create software and solutions for patients, doctors, and providers. 30,000 medical practices are being assisted in giving care to 5 million patients a month.
Conclusion and call for action
Companies in the world of healthcare provide various solutions for related businesses, like networking, labs and imaging connections, data solutions, patient education and engagement as well as software for research. Investors interested in the industry usually get it via publicly-traded companies, such as McKesson, Allscripts or other top healthcare software companies in the USA . Yet, we should mind that many companies run other business directions, that are often unrelated. Our team will help you enter the real market. Contact us today!