Electronic Health Records (EHR) is an individual's digital health document containing patient’s medical history and is shared among multiple facilities and agencies. The data provides a summary of medical records generated electronically during a clinical encounter, maintained by service providers over time. EHRs comprises of data ranging from progress notes, immunizations, past medical history, laboratory data, demographics, vital signs, medications, problems and radiology reports. EHR's applications are expected to witness growth over the forecast period owing to increasing digital patient information leading to increased demand for mobile access of health record.
Market Outlook:
The authorized providers are allowed to create and manage the digital information associated with patient health and provide easy accessibility of data to other health care providers. EHRs are built to share information with a range of health care providers and organizations comprising emergency facilities, medical imaging facilities, specialist pharmacies, workplace clinics, school and laboratories.
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Medical professionals prefer web based EHR systems due to their reduced deployment costs and automatic backup of data by the vendor thereby increasing EHR’s sales. This software as a service (SaaS) application eliminates technical glitches, allows quick and accurate access of data and is particularly beneficial to standalone centers or older physicians, who continue to practice with the aim of avoiding penalty charges by the Centers for Medicare & Medicaid Services.
The rising installation of EHR systems can also be attributed to the increasing need for technological advancements and enhancing efficiency in patient care and for secured data. Technological advancement has led to a surge in cloud based EHR software usage, leading to favorable government policies globally, providing financial incentives, hence, boosting the global EHR solution market. However, extremely high cost of EHR and security risks pertaining to patient’s medical history are few constraints of the industry
Key Players:
Electronic Health Care Solution are GE Healthcare
Medical Information Technology
Allscripts Healthcare Solutions
Cerner Corporation
CPSI and Medical Information Technology
The Electronic Health Record System market is segmented on the basis of products, into cloud-based software and server-based/ on-premise software. Based on types, the market is fragmented into Inpatient HER and Ambulatory HER. Furthermore, the application segment is bifurcated into clinical application, administrative application, reporting in healthcare system, healthcare financing, and clinical research application. Hospital clinics, specialty centers and others are few end users of the system. Geographically, the EHR market is segmented in five major regions which include North America, Latin America, Europe, Asia Pacific and Middle East & Africa.
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North America region is expected to hold major share in terms of revenue owing to favorable government policies, advanced health care facilities and a requirement for health care cost containment. Europe and Asia Pacific regions are also estimated to follow the North American market respectively due to augmented pressure of health care cost containment, increasing geriatric population, growing demand for improved patient care and rising need for remote monitoring. Particularly, the Asia-Pacific region is expected to witness rise in adoption of EHR across various health care centers due to the presence of a large pool of patients, thereby adding to the market growth over the forecast period.
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