Master Patient Index Software Market Report Forecast to 2028

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
  • Category : Healthcare IT
  • Status : Published
  • No. of Pages : 138
Inquire Before Buy

PRICING

$4550

$2730

[Research Report] 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
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

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
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

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.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Master Patient Index Software Market: Strategic Insights

master-patient-index-software-market
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
Analyst Image

Akshay

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.

Analyst Image  Speak to Analyst

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
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and Deployment , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is Master Patient Index Software?

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.

What are the driving factors for the master patient index software market across the globe?

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.

What is the cost of master patient index software?

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

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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.

Trends and growth analysis reports related to Master Patient Index Software Market