Top Medical & Healthcare Software Companies
Medical software companies are involved in building and delivering products,systems, services, or solutions within a medical space. These companies solvea myriad of customer needs.
These are software and services for use by any size organization from anindividual doctor’s clinic to large hospitals or even government organizationskeeping a nation’s biometrics.
Medical Practice Management
Used to enhance and streamline the medical practice process from booking anappointment to printing prescriptions to billing and payment, theseapplications can be used at individual doctor’s offices and large hospitals.
Medical Services Through Web Portals
These portals range from a simple business listing on a website for a clinicto appointment booking to promotional and advertising solutions. These ready-made products can be purchased as a customized theme for a new website or canbe a recurring service to provide promotion, advertising, and appointmentbooking.
These are software and services that support various operations in the runningand management of large hospitals. An individual doctor’s clinic may findmedical record-keeping software sufficient, but a large hospital willadditionally need other modules to maintain schedules of multiple doctors,inventory management of various devices in the hospital, its billing andpayment system, as well as modules to be used by hospital security staff.
Allscripts Healthcare Solutions
Allscripts is listed on the NASDAQ and has a market cap of $1.4 billion.Allscripts provides clinical, financial, connectivity, and informationsolutions and related services to hospitals, physicians, and post-acuteorganizations.
Computer Programs & Systems
NASDAQ-listed CPSI has a market cap of $660 million and 87% institutionalownership. CPSI’s target market is mid-size hospitals, for which it develops,designs, and supports healthcare systems. It also offers the automation andmanagement of clinical and financial information for hospitals and medicalenterprises.
Top Privately-Held Medical Software Companies
* Athenahealth is a former public company. It offers Internet and cloud-based services for billing, business, and clinic-related practice management solutions. * Epic Systems Corp. operates in the health care management software arena, offering solutions for integration across various medical entities. * eClinicalWorks provides medical software to assist in administrative tasks such as record keeping and serves small- and medium-sized health care establishments. * Greenway Health LLC provides administrative and clinical solutions for the health care sector. * Practice Fusion, Inc. claims to be the largest cloud-based electronic health record company in the US, providing solutions to connect patients, doctors, and data.
3. Siemens Healthcare
Siemens Healthcare is a global medical and healthcare information technologycompany. It develops, produces and sells diagnostic and therapeutic systems,devices and consumables, and IT systems for clinical and administrativeapplications. It also offers technical, maintenance, professional andconsulting services.Geographically, the company divides its revenue into four segments: Europe,CIS, Africa and the Middle East; Germany; the Americas; and Asia andAustralia. It conducts operations in North America, Africa, Europe, Asia andAustralia.It operates through three divisions: imaging and therapy systems, clinicalproducts and diagnostics. Its range of solutions encompasses angiography, CT,fluoroscopy, MRI, molecular imaging, nuclear medicine/PET, radiography,refurbished systems, surgery systems, ultrasound, IT systems, IT imaging, andlaboratory diagnostic products used for clinical and administrative purposes.Its imaging and therapy systems division offers medical imaging systems, whichallow healthcare professionals to retrieve and process relevant information.These include X-ray, CT, MRI, molecular imaging and ultrasound, as well ascomputer-based systems, workstations and software. This division alsocomprises therapy solutions, such as angiography systems, linear accelerators,particle therapy systems and minimally invasive procedures, and provides PC-based decision-support systems and knowledge-based technologies to assistphysicians in the diagnosis of diseases.The company recorded revenue of $17.4 billion during the fiscal year endedSeptember 2011.
6. Toshiba Medical Systems Corporation
Toshiba Medical Systems Corporation (TMSC), a wholly owned subsidiary ofToshiba Corporation, is a medical device company that operates under Toshiba’ssocial infrastructure segment, with headquarters in Tochigi-ken in Japan. Itdesigns, manufactures and markets diagnostic imaging equipment in more than135 countries across the world.The company recorded revenue of $3.2 billion during the fiscal year endedMarch 2012. TMSC’s products are developed at its manufacturing facility inNasu, Japan, and marketed across the world through an established network ofdistributors. It conducts its research and development activities incollaboration with medical and research institutions across the world, todevelop MRI equipment that can better visualise blood vessels without the useof contrast agents.The company operates in a single segment, which develops, manufactures,markets and conducts technical servicing of medical equipment, includingdiagnostic X-ray, medical X-ray CT, MRI, diagnostic ultrasound, radiationtherapy and diagnostic nuclear medicine systems, as well as medical sampletesting equipment and information systems for medical equipment.The CT systems supplied by TMSC incorporate globally patented technologies,such as helical scanning and real technology to support activities at thecutting edge of medical treatment. The company’s multislice CT scanner hasintroduced new clinical capabilities to cardiovascular diagnostics andprovides high-speed operation and high-resolution image reconstruction. Theseproducts are sold under the brand names of Aquilion, Activion and Asteion.
3. Cardinal Health, Inc.
Cardinal Health, Inc. is among the largest medical device companies in theworld and has a spot on the Fortune Global 500. They have a global presencewith headquarters in both Dublin, OH, and Dublin, Ireland. At the moment,Cardinal Health is the largest manufacturer of surgical products and medicaldevices in the country, which is displayed by them providing supplies to morethan 75 percent of the hospitals in the U.S.Their products include everything from durable medical equipment to advancedpatient monitoring systems. Having made nearly $16 billion in revenues in2018, they are poised to continue being a leader in the industry.You can contact Cardinal Health, Inc. by going to their website or by callingthem at 1 (800) 964-5227.
Global Medical Device Industry Overview 2020
The global medical device industry is one that has been displaying steadygrowth in the previous years and is looking to be even healthier for 2020.Because of the increase in the aging population who have chronic diseases,these industries are needed more than ever.It’s also important to understand that many of these medical device companiesare going to be developing equipment and devices for the fight againstCOVID-19. While sales may drop for some of these companies in 2020 because ofthe scaled back nature of the worldwide economy, the future beyond 2020 islooking bright.In 2018 alone, the 11 leading medical device companies in this articlegenerated more than $185 billion in revenues. You can expect many of thesecompanies to continue their growth in the years to come. In fact, an industryreport by Technavio estimated that the medical device industry would grow byfive percent between 2018-2022. Because of this growth, an increasing numberof startups are being created for this industry.Here at University Lab Partners, we offer a range of useful resources foryounger startups and businesses that have just entered the medical deviceindustry. If you are trying to find your footing and are looking to stick to astrict budget while you grow your company, you should consider renting spaceat our wet-lab incubator. Here, you can obtain affordable office space, labspace, and medical equipment to assist you with your work. If you’reinterested, you can apply at this link.Revised 11/17/2020