Behavioral Health Care Software And Services Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 - 2027

The global Behavioral Health Care Software And Services market size was valued at US$ 2.1 billion in 2019 and is anticipated to grow at a CAGR of 11.1% during forecast period 2020 to 2027.

Behavioral health management software provides ease of communication between care 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 health. The software increase productivity and efficiency of mental healthcare, by integrating with its existing infrastructure. Behavioral healthcare providers help reduce treatment costs by providing value-based medicine programs, thus preventing hospital readmissions. The impact of substance abuse is estimated to be worth USD 600 billion every year in U.S., according to a survey by the Substance Abuse and Mental Health Services Administration (SAMHSA).

The Cures Act provides the vendors with an opportunity of integrating, resulting in the care coordination of both parties. The act will enable interoperability between healthcare providers, especially mental healthcare providers, enable insurance claim submissions, simplify the explanation of benefits, and eliminate the obstacles to reimbursement for faster returns. New behavioral health integration codes were introduced by the Centers for Medicare & Medicaid Services (CMS) under the psychiatric collaborative care model and behavioral health integration under the successful chronic care management services initiative.

Component Insights

The software segment dominated the behavioral health care software and services market in 2019. Increased adoption of technological solutions for the management of financial, administrative, and clinical functions of mental health care practices is responsible for the segment growth. EHR systems have integrated claims and billing functionality that can manage complex billing procedures, and its mobile version enables patients to access services on the go.

The software provides revenue cycle management to streamline the claims process. The software solutions allow mental health professionals to design and choose the optimal treatment plan for a person suffering from mental health issues, such as depression, stress, anxiety, substance abuse, and addiction. Mental health software help design treatment plans based on clinical evidence and related patient records.

Delivery Model Insights

Behavioral healthcare software solutions are available for purchase as well as for subscription. The subscription services segment held the majority of the market share in 2019 and is likely to register the fastest CAGR over the forecast period. Unlike large medical practices or hospitals, most small-scale mental healthcare professionals have limited capital to invest in technological solutions. In addition, due to the small scale of their practice, these professionals are unable to qualify for incentives for meaningful use of EHRs. Hence, lack of reimbursement limits the usage of EHRs in small-scale mental health practices. Mental health professionals hesitate to spend thousands of dollars on software solutions. With limited budgets, small-scaled practices prefer subscription-based software solutions. Various options affordable options are available for mental health professionals that can provide optimal return on investment.

End-use Insights

On the basis of end use, the market for behavioral health care software and services has been trifurcated into providers, payers, and patients. Providers accounted for the largest market share in terms of revenue in 2019. The limited number of EHR providers specific to mental health care increases the demand for software suppliers. The payers segment is likely to witness the fastest CAGR over the forecast period due to improving reimbursement scenario. Medicare provides insurance coverage for teleservices for mental health.

Function Insights

Clinical functions dominated the market in terms of revenue share in 2019 and is expected to maintain its pole position in the market throughout the forecast period. 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.

The administrative functions, on the other hand, are anticipated to be the fastest growing segment in the forthcoming years. Behavioral health facilities, especially large-scale centers, usually require centralized scheduling systems to view multiple providers in one place. Administrative functions such as scheduling are beneficial as it provides timely care delivery at a lower cost. In addition, document management can reduce data overload in healthcare settings.

Regional Insights

North America held the largest behavioral health care software and services market share in 2019 in terms of revenue. On the other hand, Asia Pacific is expected to register the fastest CAGR during the forecast period. Rising geriatric population in China and Japan is anticipated to fuel regional growth. In January 2017, the integration of new behavioral health integration codes helped to combine physical care and behavioral treatment plans. The CMS introduced the behavioral health integration and psychiatric collaborative care model in 2017 under the chronic care management services initiative.

In the U.S., Medicare provides reimbursement for tele-mental health services and makes the behavioral healthcare software reimbursement scenario promising. Increasing awareness regarding mental health software has led to constant improvements in Medicare policies. For instance, in November 2019, the Telemental Health Expansion Act (HR 5201) was introduced in the U.S. Congress, which aims at exempting the regional restrictions in the guidelines for the mental health services delivered via telehealth.

Key Players

Welligent, Inc.; Cerner Corporation; Netsmart Technologies; Epic; Core solutions, Inc.

Market Segmentation

• Component Outlook 

  • Software

    • Integrated

    • Standalone

  • Support Services

• Delivery Model Outlook 

  • Ownership

  • Subscription

• Function Outlook 

  • Clinical

    • EHRs

    • Clinical Decision Support

    • Care Plans

    • E-prescribing

    • Telehealth

  • Administrative

    • Patient/Client Scheduling

    • Document Management

    • Case Management

    • Workforce Management

    • Business Intelligence

  • Financial

    • Revenue Cycle Management

    • Managed Care

    • General Ledger

    • Payroll

• End-use Outlook

  • Providers

    • Hospitals & Clinics

    • Community Centers

  • Payers

  • Patients

• Regional Outlook 

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

The Behavioral Health Care Software And Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Behavioral Health Care Software And Services market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Behavioral Health Care Software And Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Behavioral Health Care Software And Services market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Behavioral Health Care Software And Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Behavioral Health Care Software And Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Behavioral Health Care Software And Services by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Behavioral Health Care Software And Services market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Behavioral Health Care Software And Services market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Behavioral Health Care Software And Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Behavioral Health Care Software And Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Behavioral Health Care Software And Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Behavioral Health Care Software And Services market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Behavioral Health Care Software And Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Behavioral Health Care Software And Services market. These factors have benefited the growth of the global market for Behavioral Health Care Software And Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Behavioral Health Care Software And Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Behavioral Health Care Software And Services are as follows:

• History Year: 2016-2019
• Base Year: 2019
• Estimated Year: 2020
• Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.