The top players in Healthcare Contract Management Software market include Determine Inc. (US),CobbleStone Software (US), Concord (US), Contract Logix LLC(US), Icertis (US), Apttus Corporation (US), Optum Inc. (US), Coupa Software Inc. (US), nThrive Inc. (US), Experian Plc. (Ireland), and ScienceSoft (US).
Growing need to reduce operational costs of Healthcare Contract Management Software (while increasing the operational efficiency of healthcare organizations) & growing need to maintain compliance with regulatory mandates are key drivers of this market. On other hand, dearth of in-house IT expertise & reluctance of healthcare providers to adopt new methods of contract management are expected to restrain growth of healthcare contract management software market to a certain extent during the forecast period.
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Rising demand for healthcare contract management software from healthcare providers, the growing need for healthcare insurance providers to efficiently manage an in-depth record of claims and reimbursements is expected to propel the growth of this market. On the other hand, reluctance to switch from conventional methods and the high costs involved for the implementation of this software restrain market growth to a certain extent.
- In October 2018, Icertis opened two new offices in Sydney and Singapore to meet the rising market demand.
- In February 2018, Cobblestone Software launched a new mobile contract management software app for Android and Apple iOS devices.
- In October 2018, Contract Logix launched the Express Contract Management Software and Premium Contract Lifecycle Management.
- In December 2018, Determine Inc. entered into an agreement with Axbility Consulting (US) that provided greater opportunities to Determine.
- In March 2017, nThrive Inc. acquired e4e Healthcare Services to expand its service offerings.
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The healthcare contract management software market in APAC is expected to grow at the highest CAGR during the forecast period. A majority of this growth is driven by the increasing need for complete transparency, rapid return on investment (ROI), and high level of data security, and increasing demand for effective contract management software.
The breakdown of primary participants was as mentioned below:
- By Company Type: Tier 1–30%, Tier 2–45%, and Tier 3–25%
- By Designation: C-level–30%, Director Level–35%, and Others–35%
- By Region: North America–35%, Europe–30%, Asia Pacific–25%,Rest f the World–10%
Healthcare contract management software market for contract life cycle management software is projected to grow at the highest rate during the forecast period. The high growth of this segment is attributed to its rising use in streamlining contract lifecycle processes and maintaining complex contract documents in the contract repository for all contracts.
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Report analyzes various contract management software products & their adoption pattern. It aims at estimating market size & future growth potential of healthcare contract management software market for different segments like product & service,end user,and region. Report also includes an in-depth competitive analysis of key players in this market, along with their company profiles, product offerings, & recent developments.
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