Electronic Health Record Systems Market – Analysis And Forecast (2017-2025): Market Shares And Strategies Of Key Players
Some of the major players in the electronic health record (EHR) systems market are Cerner Corporation, athenahealth, Inc, Meditech, Allscripts, Epic Systems Corporation, Quality Systems Inc, McKesson Corporation and GE Healthcare. Other emerging players in this market are Healthcare Management Systems, eClinicalWorks, Healthland and CureMD Research & Development. Also, the earliest acquisition in this market is Cerner Corporation acquired Siemens Health Services in February 2015. This acquisition will drive the innovation and development in healthcare IT segment.
The systems that are used to maintain digital health record of the patient are called electronic health record (EHR) systems. This systems supports the systematic storage of information such as health progress notes, diagnoses, vital signs, medications, allergies, lab data and past medical history. The electronic storage of the system helps the ecofriendly storage of the information with minimum risk of losing it along with less manual work and other facilities such as easy access to the required information.
The EHR systems helps to access and track health records conveniently and also allows for easy sharing of patient information with other healthcare professionals, in order to take clinical decisions during the treatment. Furthermore, the system also helps to get connect with different locations and healthcare departments to collect patient data; for instance, from clinical laboratory, other hospitals, in schools for maintaining student’s health record, different companies that keeps the health record of their employees, pharmacies, and emergency facilities. For effective use and to avoid reimbursement loss from any treatment some EHR system providers follow some methods to guide the patient and clinician during the course of treatment.
As per the data published by Practice Fusion Blog, Inc. (It is the top most cloud based EHR platform in U.S.), it is expected that, by the end of 2017 around 90% physicians will use EHR systems in the U.S. Also, 67% out of all providers of EHR systems have reported that there is 1% growth in the adoption of EHR systems between September 2016 and March 2017. The highest adoption rate of EHR systems is observed in internal medicines departments, pediatrics departments followed by nephrology, family practice and urology department.
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Technological advancements, highly beneficial applications and raised demand of EHR systems lead the growth for Electronic health record (EHR) systems market towards positive direction in the near future
The continuous improvements in healthcare sector and supportive government initiatives create a highly conducive environment for growth of the global electronic health record (EHR) systems market. For instance, the American Recovery and Reinvestment Act of 2009 authorizes the Centers for Medicare & Medicaid Services (CMS) to provide incentive payments to eligible professionals (EPs) and hospitals who adopt, implement, upgrade, or demonstrate meaningful use of certified electronic health record (EHR) technology. The top contributor region in this market is North America, followed by Europe, as this regions has high adoption rate and developed healthcare network and facilities. The increasing development and digitalization in emerging economies are expected to show the high growth rate in electronic health record (EHR) systems industry in the near future. Also, high growth rate is expected from China as, this country is known for the production of low cost electronic devices. Based on end user the hospitals, as the hospitals generate large amount of data on a daily basis and the use of EHR system reduces their work pressure and save time required to keep health record, therefore the EHR systems became an integral part of hospitals in recent years. Also, the rising demand for Web/Cloud-based EHR systems from small healthcare facilities will result in growth of this segment of electronic health record (EHR) systems market in near the future.
Low affordability of EHR systems due to their high cost and maintenance and service expenses are some factors restraining the growth of electronic health record (EHR) systems market. The manufacturers are continuously working to reduce the cost of these systems to increase the market penetration in emerging economies.
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