Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global clinical decision support system market, by Products (Stand Alone CDSS and Integrated CDSS), by Component (Hardware, Software, and Services), by Mode of Delivery (On Premise CDSS and Cloud based CDSS), by Application (Diagnosis Support, Prescription Support, Clinical Alert and Clinical Guideline, and Others), by End User (Hospitals, Ambulatory Centers, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 767.4 million in 2017 and is projected to exhibit a CAGR of 11.69% over the forecast period (2018 – 2026).
A process utilized to enhance health-related decisions and actions with structured clinical knowledge and patient information to improve health and healthcare delivery is called as clinical decision support. Physicians, patients, nurses, and others are the stakeholders involved in information exchange. This system aids in delivering clinical knowledge, guideline based inputs, and intelligently processed actionable patient data (e.g. drug interaction events for specific patient in past, which would be shown at CDSS handled by physician).
Get Sample PDF (Including COVID-19 Impact Analysis, Full TOC, Tables and Figures) of Clinical Decision and Support System, https://www.coherentmarketinsights.com/insight/request-pdf/2054
Moreover, it provides data and order entry facilities, reference information, clinical alerts, and others. The adoption of clinical decision support system is expected to increase due to rising incidence of medication errors and hospital readmissions due to inadequate health outcome. For instance, according to the World Health Organization (WHO) report, in 2017, medication error cost around US$ 42 billion annually, worldwide. An estimated 43 million patient safety incidences occur, annually. According to the Agency for Healthcare Research and Quality’s (AHRQ) Healthcare Cost and Utilization Project in 2011, around 3.3 million adult hospital readmissions were reported within 30-days in the U.S. due to all-causes (e.g. heart attack, heart failure, pneumonia and chronic obstructive pulmonary disease, etc.) and it inculcated cost of around US$ 41.3 billion. The market is expected to witness significant growth in developed economies such as North America and Europe. Healthcare legislation, Protecting Access to Medicare Act (PAMA), was passed in 2014 and took effect from 2017. PAMA pleads for EHR based Incentive Reimbursement Program by applying principle of ‘Meaningful Use’. For instance, under this law, providers of radiology services will be required to offer CDSS to ordering physicians. The law says that the physicians who provide diagnostic interpretation will be paid only for those claims that confirm a certified CDSS was used.
New product launches, collaborations, and acquisitions by key players are expected to fuel the clinical decision support system market growth
Various innovative products are being launched in the market by major players, in order to retain their leading position in the market. These new products could be easily integrated with Electronic Health Record (EHR) and Computerized Physician Order Entry (CPOE) systems, thereby avoiding duplication of work. As new systems have cloud-based support system, CDSS continuously gets updates regarding new clinical data, evidence, and other information that helps in prescription and diagnosis, thereby providing quality healthcare. In 2017, Change Healthcare launched the new version of InterQual clinical decision support system, which consist of Medicare Procedures (U.S. State insurance) with efficient set of criteria, review, and other features that better help in decision-making. For instance, this system has Centers for Medicare & Medicaid Service’s geometric mean length of stay data that provides target length of stay for Medicare beneficiary. It has more automation and knowledge-based search features and large drug registry.
Apply Promo Code “CMIFIRST1000” And Get Instant Discount Of USD 1000
Buy Now This Premium Report to Grow your Business @ https://www.coherentmarketinsights.com/insight/buy-now/2054
Players in the market are adopting strategies such as collaborations, in order to launch innovative products in the market. In July 2018, Cerner and Lumeris announced a 10-year strategic collaboration to provide solutions to eliminate inefficiencies in the current health care system. Through this collaboration, both the companies would launch product named Maestro Advantage. This new product would provide actionable data and insights with healthcare provider workflows, combining existing investment in digitized data and processes. Maestro Advantage would help physicians to effectively assess risk and create interventions and better maximize outcomes for patients.
In June 2018, Allscripts and MedAware, which are Israeli patient safety solutions, announced that both the companies are developing medication-related decision support at the point of care. Through this collaboration, Allscripts’ dbMotion solution would be having point of care intervention solution of MedAware. This intervention use artificial intelligence to monitor a patient’s medications and clinical records, which could reduce medication-related risks (adverse drug events or a patient’s risk of developing opioid dependency).
Browse 31 Market Data Tables and 35 Figures spread through 177 Pages and in-depth TOC on “Clinical Decision and Support System Market”- by Products (Stand Alone CDSS and Integrated CDSS), By Component (Hardware, Software, and Services), By Mode of Delivery (On-Premise CDSS and Cloud-based CDSS), by Application (Diagnosis Support, Prescription Support, Clinical Alert and Clinical Guideline, and Others), By End User (Hospitals, Ambulatory Centers, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the clinical decision and support system market Press Release, click the link below: https://bit.ly/2Ps7gVG
Key Takeaways of the Clinical Decision and Support System Market:
- The global clinical decision support system market is expected to exhibit a CAGR of 11.69% over the forecast period. This is attributed to rising awareness regarding benefits of CDSS, increasing incidence of medical error, hospital readmissions, and adverse drug events.
- Among product type, integrated clinical decision support system segment is expected to hold dominant position in the market, as electronic health record and computerized physician order entry are majorly updated for integrating with CDSS to provide better clinical judgment, and provide benefit of synergy. Among component, service segment is expected to hold dominant position in the market, as cloud-based services are expected to witness significant growth. Among mode of delivery, cloud-based system segment is expected to hold dominant position in the market. This is attributed to rising adoption of cloud-based health IT solutions by healthcare providers.
- Among end users, hospitals segment holds dominant position in market, as increasing complex data base with specialized need of care for each patient and vast database generated in the process demands for comprehensive and evidence based input to provide quality care to patients
- North America is expected to hold dominant position in the clinical decision support system market, followed by Europe. The U.S. invests major amount in healthcare in the world and is focused on providing value-based care, which could be attended effectively by implementing CDSS. Value-based care involves providers to be paid based on patient health outcomes which means providers are rewarded if patients improve their health, reduce the effects and incidence of chronic disease. CDSS would be important in this value based care ecosystem. The launch of new products in the market by key players is also expected to fuel the market growth in this region.
- Some of the major players operating in the clinical decision support system market include Cerner Corporation, Allscripts Healthcare Solutions, Inc., IBM Watson Health, GE Healthcare, Change Healthcare, Zynx Health, Carestream Health Inc., First Databank, Inc., NextGen Healthcare Information Systems, Agfa Healthcare, Medical Information Technology Inc., Athena Health, Wolters Kluwer NU, Siemens Healthineers, and Philips Healthcare.
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027