Increasing adoption of behavior health software, availability of government funding, government initiatives to encourage EHR adoption in behavioral health organizations, favorable behavioral health reforms in the US, and high demand for mental health services amidst provider shortage are the major factors driving the growth of this market. Based on delivery model, the mental health software market is segmented into ownership models and subscription models. The subscription models segment is expected to account for the largest share of the market in 2017. The growth of this segment can be attributed to its advantages such as cost-effectiveness, interoperability, and flexibility.

Increasing adoption of BHS
High healthcare costs for the treatment of behavioral health-related problems or mental illnesses form a key concern for governments. The global cost of the treatment of mental illnesses was ~USD 2.5 trillion (of which two-thirds are indirect costs) in 2010; this is slated to reach USD 6 trillion by 2030 (Source: WHO). In 2013, the US spent an estimated USD 201 billion on mental disorders like anxiety and depression (Source: Health Affairs). Additionally, serious mental illness costs the US an estimated 193.2 billion in lost earnings per year (Source: National Alliance of Mental illness). Similarly, in Canada, mental health problems cost more than CAD 51 billion every year (Source: Centre for Addiction and Mental Health).

Major contributing factors to these high costs are the need for and generation of excessive paperwork, causing loss of productivity amongst clinicians and improper revenue cycle management by behavioral health organizations. The need to resolve these issues has boosted attention on and the adoption of behavioral health software, as a means of reducing medication errors and paperwork; enhancing productivity by ensuring quick patient data access; improving workflow efficiency; and minimizing healthcare costs. These benefits of behavioral health software have driven their adoption, especially among large hospitals and community clinics.

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Data privacy concerns
In behavioral health, the privacy of data is the biggest concern for providers. Behavioral health providers are not allowed to share information on patients suffering from some mental illness or substance abuse to anyone who is not involved in the treatment of that particular patient. However, with the integration of data using behavioral IT tools, any healthcare professional unrelated to that case can access the patient’s data. While initiatives such as the passing of the HIPAA and HITECH Act in the US have been taken to strengthen data security measures, cases of data infringement and data breaching are still high, which is restraining the growth of the behavioral health software market.

While North America is expected to dominate the mental health software market in 2017, Europe is expected to register the highest CAGR during the forecast period. The high growth in this regional segment is attributed to growing incidence of mental disorders, government initiatives for increasing awareness about mental disorders, and the improving accessibility of behavioral healthcare.

Key Players

While the behavioral health software market presents significant growth opportunities, market growth may be limited to a certain extent due to the data privacy concerns and shortage of IT-knowledgeable personnel. The market is highly competitive with several big and small players. Prominent players in the Behavioral Health Software Market include Advanced Data Systems (US), AdvancedMD (US), Cerner (US), Compulink (US), Core Solutions (US), Credible Behavioral Health (US), ICANotes (US), InSync Healthcare Solutions (US), iSalus Healthcare (US), Kareo (US), Meditab Software (US), Mentegram (US), Mindlinc (US), Netsmart (US), Nextgen Healthcare (US), and NextStep Solutions (US).

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