LONDON--(EON: Enhanced Online News)--Technavio’s latest report on the global dental practice management software market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
“The reports can be reviewed either on a daily or weekly basis for practice management to gain more knowledge on prescriptions, deleted transactions, delinquent accounts, outstanding claims, and credit distribution audit trails”
Ishmeet Kaur, a lead analyst from Technavio, specializing in research on enterprise application sector, says, “The proliferation of patient data, need to gain competitive advantage, and fulfil compliance regulations has forced dental practices to turn to dental practice management software to reduce risks and improve their operational efficiency.”
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The top three emerging market trends driving the global dental practice management software according to Technavio ICT research analysts are:
- Increasing focus on detailed and customized reporting
- Data analytics and business intelligence in dental practice management software
- Increasing integration of digital imaging with dental practice management software
Increasing focus on detailed and customized reporting
Reporting has become an essential part of dental practice management to get meaningful insights into the practice of the dental care. Dentists do not want to guess when it comes to making business decisions for their practices. Thus, like many other successful business owners, they rely on the reporting capabilities of their software systems to give those real numbers and data, which can help them gauge the health of their practices.
Dental practice management software generates daily reports and provides insights into unassigned credits, appointments fulfilled and not fulfilled, and post-op calls.
“The reports can be reviewed either on a daily or weekly basis for practice management to gain more knowledge on prescriptions, deleted transactions, delinquent accounts, outstanding claims, and credit distribution audit trails,” says Ishmeet.
Data analytics and business intelligence in dental practice management software
Most industry verticals have started adopting data analytics and business intelligence solutions to get a clear understanding of a company’s internal data using tools and techniques like performance monitoring, data mining, reporting, and benchmarking to improve decision making and to identify new opportunities for business expansion.
In 2015, the US healthcare industry was the leading adopter of data analytics to improve clinical care quality, reduce operational cost, and improve the effectiveness of the day-to-day activities in the field of healthcare.
The analytics and business intelligence capabilities of dental practice management software explore untapped information such as hidden trends and patterns in patient data. They also help utilize this information to gain insights into the current performance of the practice and support decision-making for better management. Some of the vendors providing analytics and business intelligence capabilities in dental practice management software are Henry Schein, Quality Systems, and Suzy Systems.
Increasing integration of digital imaging with dental practice management software
The trend of integrating digital imaging capabilities with dental practice management software is gaining popularity. The dental practice management software when integrated with digital imaging helps dentists to clearly study patient's dental conditions using digital X-rays and simultaneously perform treatment planning.
The software helps reduce the X-ray exposure time by more than 70%, make an immediate diagnosis, and easily make treatment plans. For instance, DentiMax provides dental practice management software that can be integrated with digital X-ray sensors for getting 3D images of teeth.
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