Electronic Health Records (EHR) Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2026
Electronic Health Records (EHR) plays a substantial role in the healthcare system and has been applied in several ways in the healthcare system. Numerous studies conducted in different health care settings have indicated that broad application of EHR in the healthcare system will assist health professionals to reduce medical errors, achieve better effective care coordination, improve patient safety and care quality, and decrease health care costs. For Instance, by making a significant patient’s information available electronically, health care information systems can help to prevent the ordering of duplicate tests and procedures, thereby reducing patients’ expenditures on health care service. Additionally, availability of patient information in digital form will decrease the expenditures on storage, retrieval and transportation of patient charts in the health record department. The advances in science and technology have led to a great advancement in healthcare. As the advancements in healthcare are rising years of living have also increased however, the years of healthy living are greatly impacted. The rising geriatric population has resulted in the growing prevalence of age-related disorders and diseases. this will greatly impact the adoption of EHR. Moreover, rising funding for implementation of healthcare IT solutions across healthcare and increase in the adoption of cloud-based EHR software will also influence the market growth. As of 2017, nearly 9 in 10 (86%) of office-based physicians had adopted any EHR, and nearly 4 in 5 (80%) had adopted a certified EHR. Since 2008, office-based physician adoption of any EHRs has more than doubled, from 42% to 86%. ONC and the CDC began tracking adoption of certified EHRs by office-based physicians in 2014. However, high cost of EHR and patient data and security concerns will hamper the market growth.
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Insights Presented in the Report
- Based on the product, the market is fragmented into Cloud-Based Software andServer-Based/ On-Premise Software. In a cloud-based system, a practice’s data is stored on external servers and can be retrieved through the web, requiring a computer with an Internet connection
- Based on the market segment by applications, the market is segmented into Administrative, Clinical Research Application, Reporting, Healthcare Financing and Others. clinical research application of EHR includes using the surveillance and query facilities in the digital-stored records for the identification of patient who meets appropriate criteria for prospective clinical trials
- Based on the market segment by end-user, the market is segmented into Hospitals & Clinics, Ambulatory Surgical Centers and Others
- For better understanding on the market dynamics of Electronic Health Record market, detailed analysis was conducted for different countries in the region including North America (United States, Canada, and Rest of North America), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), and Rest of World
- Some of the major players operating in the market include eClinicalWorks, Allscripts, Cerner, Practice Fusion, Epic Systems, Athenahealth, Kareo, NextGen Healthcare, CureMD and iPatientCare
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends and opportunities prevailing in the industry.
- Examination of industry attractiveness with the help of Porter’s Five Forces analysis
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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