Master Patient Index Software Market to Grow at a CAGR of 10.3% to reach US$ 1,678.86 Million from 2021 to 2028

report image

Master Patient Index Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Software and Service) and Deployment (Cloud-based and On-premises), and Geography

Publication Month: May 2021 | Report Code: TIPRE00022435 | No. of Pages: 138 | Category: Healthcare IT | Status: Published

The master patient index software market was valued at US$ 776.36 million in 2020, and it is projected to reach US$ 1,678.86 million by 2028; it is expected to grow at a CAGR of 10.3% from 2021 to 2028.

Master patient index (MPI) is an essential as well as critical part of every hospital or a healthcare facility center. To maintain the huge database of patients, MPI software or systems are used. MPI software or system is a primary feature build in the electronic health record (HER) to maintain a universal identity of patients at the organizational level. MPI helps in connecting patient records from several databases and reduces data duplication of patients. MPI also helps avoiding inaccuracy of data resulting in improper treatments.

The master patient index software market is segmented based on type, deployment, and geography. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the master patient index software market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world. It also includes COVID-19 impact analysis across all the regions. It is estimated that the market is likely to have significant growth rate during the forecast period owing to the restricted health services and lockdown situation caused by the COVID-19 pandemic that have leveraged the digitalization in healthcare industry.

Lucrative Regions for Master Patient Index Software Market

Lucrative Regions for Master Patient Index Software Market

Get more information on this report :


Market Insights

Assistance in Maintaining and Managing Clinical, Financial, and Demographic Data of Patients

Continuous developments in the healthcare sector encourage the healthcare providers to adopt healthcare IT solutions for ensuring easy workflow. MPI software assigns a unique identification number to every patient, and this number allows to maintain consistent and accurate information of every patient, thereby allowing automatic management of patients’ data. MPI software facilitate authorized exchange of patient data among hospitals, rehabilitation centers, pharmacies, and other healthcare providers. The access to exchanged data is enabled through a unique identifying number that is specific to single medical record. Thus, these software avoid the duplication of patients’ information, which may occur due to several factors including demographics, error during data entry, and incomplete proofs. Ensuring accuracy helps healthcare organizations and facility centers in tracking patients previous records when they revisit the facilities.
Health care providers rely on the automated patient management. Thus, health information exchange initiatives, coupled with the heavy dependence on patient management solutions, are driving the demand for MPI software. In March 2020, the Nebraska Health Information Initiative (NEHII) selected NextGate’s cloud-based enterprise master patient index (EMPI) solutions. NEHII is a leading Health Information Exchange (HEI) that is connecting ~70% health care providers in Nebraska, US. The integration of the NextGate EMPI would help it enhance patient matching information in the region. The solution is integrated information of more than 300 participant organizations, in addition to supporting existing 4 million patient records in Nebraska.
The MPI software widely assist in financial aspects and procedures post healthcare procedures. Thus, this software has been a key tool for healthcare centers to maintain clinical, financial, and demographic data across the care continuum, thereby playing a significant role in providing safe and quality services, which is driving the growth of the master patient index software market.

Type-Based Insights

Based on type, the master patient index software market is segmented into software and service. In 2020, the software segment held a larger share of the market and is estimated to grow at a significant CAGR during the forecast period. Due to growing advancements in new and existing master patient index software, the adoption of the software in the healthcare system is likely to boost the market growth during the forecast period.

Global Master patient index software Market, by Type – 2020 & 2028

Global Master patient index software Market, by Type – 2020 & 2028

Get more information on this report :


Deployment-Based Insights

Based on deployment, the master patient index software market is segmented into cloud-based and on-premises. In 2020, the cloud-based segment held a larger share of the market and is expected to grow at a faster rate during the coming years.

Strategic Insights

Report Coverage - Master Patient Index Software Market
Report CoverageDetails
Market Size Value inUS$ 776.36 Million in 2020
Market Size Value byUS$ 1,678.86 Million by 2028
Growth rateCAGR of 10.3% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages138
No. of Tables56
No. of Charts & Figures65
Historical data availableYes
Segments coveredType and Deployment , and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Inorganic strategies were widely adopted by the market players to meet the changing customer demand and maintain their improved services. For instance, in June 2020, NextGate and Life Image, a digital network for the exchange of clinical and imaging data that is based on industry-leading interoperability principles, announced a strategic alliance to address the growing need for efficient imaging workflow integration.

By Type

  • Software
  • Service

By Deployment

  • Cloud-based
  • On-premises

By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • McKesson Corporation
  • Oracle Corporation
  • Wipro Limited
  • Allscripts Healthcare Solutions, Inc.
  • NextGate
  • Just Associates, Inc.
  • Verato
  • QuadraMed Affinity Corporation
  • MEDITECH
  • Intersystems Corporation

Frequently Asked Questions

Master patient index (MPI) is an essential as well as critical part of every hospital or a healthcare facility center. To maintain the huge database of patients’ MPI software or systems are used. MPI software or system is a primary feature build in the electronic health record (HER) to maintain a universal identity of patients at the organizational level. MPI helps in connecting patient records from several databases and reduces data duplication of patients. MPI also helps avoiding inaccuracy of data resulting in improper treatments.
Key factors that are driving growth of the market are assistance in maintaining and managing clinical, financial, and demographic data of patients due to its advantages and adoption of cloud-based technologies are boosting the market. However, the high cost of software is likely to hinder the market’s growth.
The prices of MPI software vary based on their features. For instance, NextGate EMPI solutions is available for a subscription cost of US$ 39,000/year. It includes maximum 100,000 Enterprise Unique IDs. Small or Mid-sized healthcare facilities, physicians’ offices, clinics cannot afford such high-cost solutions. In addition, the prices increase upgrades in the already bought products. The mode of deployment, whether cloud-based or on-premises, determine the cost of software installation.

The List of Companies - Master Patient Index Software Market

  1. McKesson Corporation
  2. Oracle Corporation
  3. Wipro Limited
  4. Allscripts Healthcare Solutions, Inc.
  5. NextGate
  6. Just Associates, Inc.
  7. Verato
  8. QuadraMed Affinity Corporation
  9. MEDITECH
  10. Intersystems Corporation
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the master patient index software market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global master patient index software market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
TIPRE00022435
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market




Have a Question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak to Analyst
Pricing
  • $3000
  • $4550
  • $6550
  • $8550

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount