Medical software companies are involved in building and delivering products, systems, services, or solutions within a medical space, serving the following needs:
Medical record (or electronic health record) keeping: These are software and services for use by any size organization from an individual doctor’s clinic to large hospitals or even government organizations keeping a nation’s bio metrics.
Medical practice management: Used to enhance and streamline the medical practice process from booking an appointment to printing prescriptions to billing and payment, these applications can be used at individual doctor’s offices and large hospitals.
Networking and content management solutions: These software applications are used for multiple purposes, such as connecting various medical entities (e.g., patients to hospitals or drug companies to medical representatives, pharmacies, labs, etc.)
Medical services through web-based portals: These portals range from a simple business listing on a website for a clinic to appointment booking to promotional and advertising solutions. These ready-made products can be purchased as a customized theme for new website or can be a recurring service to provide promotion, advertising, and appointment booking.
Hospital management: These are software and services that support various operations in the running and management of large hospitals. An individual doctor’s clinic may find medical record keeping software sufficient, but a large hospital will additionally need other modules to maintain schedules of multiple doctors, inventory management of various devices in the hospital, its billing and payment system, as well as modules to be used by hospital security staff.
Software or middle ware to operate a medical instrument or device: An electrocardiogram instrument may be built by company A, but the software that facilitates its working may be built by company B.
Software for medical research and analysis: This stream focuses on providing software, applications, and systems to medical research companies, aimed at facilitating and automating their research work.
Top publicly traded medical software companies.