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What is the size of the medical appointment-booking market?
Hi there, and thank you for your request for the market size of the medical appointment booking industry, including staff, online or software booking managing products, and self-booking systems. Below you will find information from Accenture, Markets and Markets and the US Bureau of Labor Statistics.
The short version is that the US medical appointment booking market falls between US$14.92 billion and US$34.73 billion - and it stands to grow much more as online self-booking options grow to tap a US$600 billion market.
I elaborate on my findings below.
ADMINISTRATIVE STAFF
According to the US Bureau of Labor Statistics (BLS), in 2014 there were 333,000 administrative managing staff in US hospitals, with a median salary of US$94,500. Assuming numbers have stayed stable since then, and assuming that all these professionals take appointments at some point during their workdays, we can estimate the market size of the scheduling staff at US$31.46 billion.
However, this estimate should be taken as the maximum value of the market - particularly since staff dedicated exclusively to booking appointments have salaries below that median: a typical medical schedulers usually earn around US$35,000 a year.
The BLS did not provide a breakdown within medical assistants, leaving us with a blank on the number of medical schedulers in the country. We can make an estimation, though - assuming that there were 333,000 medical schedulers in the US, the market would reach US$11.65 billion. These figure would be the lowest estimation for the market size of medical staff dedicated to taking appointments.
SOFTWARE MEDICAL BOOKING
According to Markets and Markets, medical management services software - which includes products with booking features - will reach US$247.1 million globally by 2018. Of this, the US represents 37% - which would make the market reach US$91.42 million as of 2018.
Whereas Market and Markets does not point out CAGR, it does say it is a high single digit. So, in order to give you an estimation, I calculated CAGR to be the highest single digit, 9% - which would make the market size in 2016 US$76.94 million at the lowest.
ONLINE SELF-BOOKING
Self-booking, especially through online portals and services, is expected to explode in upcoming years, and become the standard for the market.
Accenture expects online self-booking to reach US$3.2 billion by 2019, accounting for 38% of all medical appointments (up to 986 million appointments) and two-thirds of health practices. Since there is no current estimation for self-booking, we will take this number as an assumption for 2016 - in knowing that the market will reach that amount in less than three years.
It is worth noting, although, that online booking can grow much more than that - with market leader ZocDoc already making strides in the US$600-billion market that is employee healthcare and insurance.
To wrap up, the US market size for medical appointment booking processes falls within US$14 billion and US$35 billion.
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