Published On:June 28, 2017, 3:21 pm
Electronic medical records (EMR) are in simple term defined as an electronic record of information related to health of an individual which can be generated, collected, managed and at the same time consulted by dedicated clinicians and staff within one healthcare setup.These software have the ability to render considerable benefits to healthcare organizations, clinical practices, and physicians. Electronic medical records software simplifies the workflow and enhances patient safety and the quality of patient care.In spite of such advantages, in the United States, EMR software adoption rate is quite low.
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In fact, according to a recent study, only 4% of ambulatory physicians have said to be using a completely functional electronic records systems and barely 13% were said to have a basic system.This system consists of a mix of financial, clinical, coded, and demographic healthcare data. Several government organizations have emphasized on the importance of using electronic medical records systems. For instance, World Health Organization (WHO) states that accurate collection, managing and making use of the data inside a healthcare systems will regulate the efficiency of the system in determining the health issues, setting up priorities, finding new solutions, and allotting resources to enhance health outcomes. Presently, many clinics and hospitals are making use of electronic medical records software to gather significant health related documents and the patient’s health condition.
Every individual’s information repository will result in improved security, safety and swift data retrieval as and when needed.A few of the benefits associated with electronic medical records are – keep a track on the data over time, classify patients who are in arrears for preventive screenings and visits, constantly monitor whether how patients react to some parameters, and lastly improve the quality care within an organization.
In 2016, the global electronic medical records market was valued at USD 13.64 billion and is anticipated to garner USD 22.01 billion by 2021, thereby registering itself at substantial compound annual growth rate of 10.03% during the forecast period. The increasing need for efficiently contouring healthcare systems with enhanced technologies in the healthcare information technology (IT) is predicted to be one of the most important market driving factor of this industry. Moreover, several initiatives by the government which encourage electronic medical records are probably to heighten the demand for electronic systems. Increasing prevalence of diseases and rising need for quality care by patients is contributing to the growth of this market industry on aglobal level.
Invention of newly incorporated healthcare services delivery platform with the assistance of electronic medical records technology has resulted in vast popularity of electronic medical records software in clinics and hospitals. Escalation in the number of clinics and hospitals is also estimated to promote the global demand of this technology.Presently, EMR software technology is broadly used in North America owing to government’s several supportive initiatives taken through The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009. This encouraged the Office of the National Coordinator (ONC) for Health Information Technology to boost further acceptance of and thorough use of electronic medical records in this region.Elevated sue of EMR software such as clinical decision support system, data mining, and clinical trial management systems is predicted to impel the market demand of electronic medical records system in the global market.
The major market players of the global electronics medical records (EMR) software market are iPatientCare, GE Healthcare, Acrendo Software, Greenway Medical Technologies, Addison Health Systems, Nuemd, Williams Group, Athenahealth, ZH Healthcare, AdvancedMD, eClinicalWorks, Harmony Medica, Allscripts, Medicfusion, Cerner, Henry Schein, Practice Fusion, Genesis Chiropractic Software & Billing, Aprima Medical Software, NextGen, Meditab Software, HealthFusion, Epic Systems, JVS Group, Liquid EHR, and InSync. Geographically, this market industry is segmented into regions such as Europe, United States, China, Japan Southeast Asia, and India.
This industry’s market based on its product type is segmented into web-based EMR software and cloud-based EMR software.Lastly, the end user application segment of this market on a global level are specialized clinics, physician offices, hospitals, and ambulatory surgical centers. The clinical segment in terms of value is predicted to be responsible for 27.2% of global market share by 2025, on the other hand, hospital segment is estimated to dominate the overall market during the forecast period.
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