The U.S. Behavioral Health Care Software And Services Market size is expected to reach USD 3.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.12% from 2022 to 2030. An increase in the adoption of technological solutions for the management of clinical, administrative, and financial functions associated with mental healthcare practices is responsible for market growth.
According to the CDC data, around 20.3% of the adult
American population was suffering from mental health issues in 2020. Out of
which, around16.5% received treatment from the physicians and 10.1% took
counseling. The adoption of behavioral healthcare software by the care
providers is likely to improve the treatment prospects and management of mental
health issues. Behavioral health practices can adopt integrated EHRs for cost
savings and effective practice management. The adoption of mental well-being
apps can aid to break the societal stigma on mental health. The stigma could
easily lead to discrimination, which discourages people from seeking treatment
or therapy. However, the surge in mental wellbeing software has led to more
patients seeking treatment discreetly.
The COVID-19 pandemic has increased the demand for
software by providers of behavioral health. For instance, according to the
ECHAlliance Data 2020, around 600 prescription mental wellness apps are
available in the market. In addition, the demand for such prescription apps
surged drastically from April 2020 to September 2020. The adoption of
telehealth and telemedicine also helped to foster the growth of the market
during the pandemic. The utilization of mobile and virtual care platforms was
supported by positive changes in reimbursement policies for telehealth. For
instance, the CMS issued temporary changes in receiving care through telehealth
services for patients enrolled in Children's Health Insurance Program (CHIP),
Medicaid, and Medicare.
Related Press Release@ U.S. Behavioral Health Care Software And Services Market Report
U.S. Behavioral Health Care
Software And Services Market Report Highlights
- By component, the integrated segment dominated the market in 2021.
The segment is expected to register the fastest growth rate over the
forecast period as it provides various functionalities such as telehealth,
e-prescription, and billing and claims management in one single package
- In terms of the delivery model, the subscription segment accounted
for the largest revenue share in 2021. The segment is expected to register
the fastest growth rate over the forecast period due to the increasing
preference for subscription services over purchasing
- Based on function, the clinical segment held the largest market
share in 2021. The behavioral healthcare software provides clinical
functions such as scheduling appointments, claim filings, documentation,
and billing that help to increase the productivity of healthcare
facilities
- Key players are adopting strategies such as mergers and acquisitions
to strengthen their market presence. In February 2021, Cerner Corporation
announced integrating the virtual mental health platform of SilverCloud
Health with its Electronic Health Records (EHR) solution. This integration
will enable clinicians to prescribe various digitally delivered,
scientifically-backed, and on-demand therapeutic care for behavioral
health needs
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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