To keep track of a patient’s medical history digitally, EHRs are the systems used. This system allows for the organized storage of patient information like progress notes, vital signs, diagnoses, medications, lab data, allergies and a full medical history. The system’s electronic storage aids in eco-friendly information storage with minimal risk of losing data, reduced need for manual labor, and other conveniences, such as easy access to relevant data.
The electronic health record (EHR) system aids in the easy access and tracking of health records, and also the simple exchange of patient info with other health care providers, to help make clinical decisions during treatment. In addition, the system facilitates connections with other facilities and healthcare divisions in order to collect patient data, such as in a clinical laboratory, other hospitals, and schools for maintaining student’s health record, different companies that keep the medical record of their employees, drug stores, and emergency facilities. Some electronic health record (EHR) system providers employ specific procedures to guide the patient and clinician through the treatment process in order to maximize efficiency and prevent the loss of reimbursement from any treatment.
By the end of 2017, roughly 90% of U.S. physicians are projected to use EHR systems, according to data released by Practice Fusion Blog, Inc. (the most popular cloud-based EHR platform in the country). In addition, between September 2016 and March 2017, EHR providers saw a 1% increase in adoption, as reported by 67% of all providers. Internal medicine, pediatrics, nephrology, family medicine, and urology have the highest adoption rates of electronic health record systems.
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Electronic health record (EHR) systems market is expected to grow at a healthy rate in the coming years due to technological progress, highly useful applications, and increased demand
The global market for EHR systems is expanding rapidly due to favorable macroeconomic conditions and government initiatives to improve healthcare. The American Recovery and Reinvestment Act of 2009, for example, allows the Centers for Medicare & Medicaid Services (CMS) to offer incentive payments to eligible professionals (EPs) and hospitals that adopt,, upgrade, implement or demonstrate meaningful utilization certified electronic health record (EHR) technology. The North American market is the largest, followed by the European market, because of the continent’s advanced healthcare infrastructure and high adoption rate.
Electronic health record (EHR) systems are predicted to exhibit rapid expansion in the near future as a result of rising advancement and digital innovation in emerging economies. As a result of China’s reputation as a manufacturer of reasonably priced electronic devices, a rapid expansion rate is anticipated from that country as well. In recent years, electronic health record (EHR) systems have become standard equipment in hospitals due to their proven effectiveness in lowering administrative burdens and freeing up staff time spent maintaining patients’ medical records on a daily basis.
It is expected that the market for Web/Cloud-based EHR systems will expand in the near future as a result of rising demand from small healthcare facilities.
Some factors slowing the expansion of the electronic health record (EHR) systems market include the high price of these systems as well as the costs associated with their upkeep and repair. To increase their sales in developing countries, manufacturers are constantly working to lower the price of these systems.
Electronic Health Record (EHR) Systems Market- Competitive Landscape
Cerner Corporation, athenahealth, Inc., Meditech, Allscripts, Epic Systems Corporation, Quality Systems Inc., McKesson Corporation, and GE Healthcare are among the leading companies in the electronic health record (EHR) systems market. Healthcare Management Systems, eClinicalWorks, Healthland, and CureMD Research & Development are some of the other new entrants in this market. Furthermore, Cerner Corporation’s acquisition of Siemens Health Services in February 2015 was the earliest in this market. As a result of this purchase, healthcare information technology will experience a period of rapid growth and development.
- The pic electronic health record (EHR) system was released by Alameda Health System (AHS) in October 2019.
- An electronic health record (EHR) system will be available to patients at the Minnesota Oncology in October 2019.
- In July of this year, Net Health made public their purchase of Optima Healthcare Solutions (Optima), a company that developed and distributed electronic medical software in the cloud for outpatient therapy clinics, hospice organisations, and home health therapy providers. With this purchase, Net Health was able to increase the capabilities of its EHR system.
- In June of this year, the Mohawk Valley Health System (MVHS) introduced Epic as their new system-wide electronic health record (EHR). Epic is the most popular and comprehensive health record system in the United States.
- GE Healthcare was awarded Carequality certification in 2017 to facilitate the exchange of information between the company’s ambulatory EHR clients and the network of over tens of thousands of hospitals, physician offices, and consumer services.
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|The market size value in 2023|
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Electronic Health Record (EHR) Systems Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Electronic Health Record (EHR) Systems Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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