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Please provide a competitive landscape of the three largest dental software companies, including Dentrix, Eaglesoft, and one additional competitor. For each company, please provide annual revenues, product offerings, features, services, and whether they are able to automatically process Explanation of Benefits (EOB) statements.
Hello! Thank you for your question about the competitive landscape of the largest dental software companies. The three largest companies, making up 82% of the practice management software market include Dentrix, Eaglesoft, and CS Softdent. I've complied a spreadsheet based on the information requested. You can find the spreadsheet here. Below you will find a detailed summary of my findings.
METHODOLOGY
I searched for the top companies and found that Dental Economics listed the major dental software companies to include: DentiMax, Dentrix, EagleSoft, Softdent, PracticeWorks, and Easy Dental. Initially I choose the two provided, Dentrix and Eaglesoft as well as Dentimax. I then found two additional sources indicating that Dentrix, Eaglesoft and Carestream Dental make up 82% of the total market share. As the exact market shares for each company is not available I included four companies in the competitive analysis. Once I selected the companies, I located the information requested for each company and laid them out in a spreadsheet. Most of the information was located on either the company website or an annual report. Some additional searching was necessary to fill in any gaps in the spreadsheet. The full details are listed here.
COMPANIES
In 2015, the total Dental Practice Management Software market size was $940.4 million and has an 11.2% CAGR growth forecast from 2016 to 2023. The scheduling module is a dominating feature in the dental practice management software exceeding more than $175 million followed by patient communication, and the invoicing/billing module. These segments have an estimated growth at a CAGR of 11.3%. North America is a top driver in the global dental practice management market and accounted for 45% in 2015.
Web-based software accounted for the major share then it was followed by on-premise and cloud-based solutions. Cloud based solutions are on pace to reach close to web-based solution segments by 2023 and exceed a total revenue of $700 million. Cloud-based software has a CAGR of 14.3% over the same period. This type of service will make information available anywhere regardless of the location of the patient and dentist.
DENTRIX
Dentrix is a subsidiary of Henry Schein, Inc and makes up about 25-30% of the total dental practice management software market share with an estimated 35,000 users. Henry Schein, Inc has a total 2015 global net sales of $10.6 billion. This is segmented into multiple categories including 50% dental, 27% animal health, 20% medical, and 3% technology & value-added services. Dentrix is considered a technology & value-added service rather than a dental service. The technology & value-added services have a combined revenue of $359 million. Unfortunately, I was unable to narrow the financial information down any further. Additionally, Dentrix contains a way to automatically process the Explanation of Benefits (EOB) statements. For the full list of features and products please see the spreadsheet.
EAGLESOFT
Eaglesoft is owned by the parent company of Patterson Companies Inc. The company estimates that the dental supply market they serve has a market value of $7.5 billion annually.
In 2014, the total expenditures for dental services in the U.S. were estimated to be $114 billion. Patterson sales are broken down into categories with dental having a total sales of $2,476 million and about 30,000 users. Additionally, Eaglesoft uses ERA's to automatically process the Explanation of Benefits (EOB) statements. For the full list of features and products please see the spreadsheet.
CS SOFTDENT
Carestream Dental's Softdent is the third of the top three companies that make up 82% of the market share. There is no information listed on the market share for the company or the number of users. CareStream Dental has a total sales of $50.739 million and an extensive list of products that can be found on the spreadsheet. They also use ePostings to process the Explanation of Benefits (EOB) statements.
DENTIMAX
Dentimax is an additional company but does not list a way to automatically process the Explanation of Benefits (EOB) statements. They have an annual revenue of $2.178 million. No information was listed for the number of users or market share. You can see the list of products and features on the spreadsheet.
CONCLUSION
The three largest companies, making up 82% of the practice management software market include Dentrix, Eaglesoft, and CS Softdent. I've also included a fourth company, Dentimax on the spreadsheet attached here. The spreadsheet includes, annual revenues, product offerings, features, services, and if they process Explanation of Benefits (EOB) statements as well as market share, websites and the number of users where available.
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