It has been observed that prescription errors are amongst the main issues of concern for the healthcare professionals across the globe. Research states that they account for close to 70% of the medication errors occurring in general practice settings and hospitals. Though errors of this type aren’t found to be that fatal, the fact that they could adversely affect the health of the patient can’t be ignored. These errors also account for legal & medical malpractice claims against doctors & healthcare professionals.
General Medical Council (GMC) had released a report in the year 2018, stating that such prescribing errors and faults account for 9-15% of medication orders all across the UK. It has been reported that employment of e-Prescribing systems does reduce errors in majority of scenarios by nearly 85%. While prescribing, the e-Prescribing technology could cause further reduction in errors by issuing alters and warnings, that too, with provision of case history of the patients to the physicians.
In the US, there is EPCS (Electronic Prescription in Controlled Substances) in place, which makes way for a secure, transparent system, thereby rendering fraud or abuse next to impossible. Persistence Market Research has walked through these facts with measures to be taken in its latest market study entitled “e-Prescribing Market”.
Dispersion of e-Prescribing Market
The global e-Prescribing market, by type of product, spans stand-alone system and integrated system. Component-wise, it’s hardware, software, and services. By mode of delivery, it’s on-premise/licensed, web-based, and cloud-based. By mode of usage, it’s PC-based and handheld device. By end-user, it’s office-based physician and hospital. Out of these, handheld device holds the largest market share. Persistence Market Research has etched these findings with probable calls to action in its latest market study entitled “e-Prescribing Market”.
Region-wise Analysis
North America holds the largest market share due to notable incentives and initiatives taken by the US government. Europe stands second on these grounds. This could be reasoned with stern regulatory policies being implemented in these countries for averting medical errors. The European Union had also surfaced a circular in the year 2019, wherein it allowed using e-Prescription (issued by practitioner) in different country, that too, at the time of paying a visit to a pharmacy in the other country of the EU. The Asia-Pacific is expected to grow at the fastest rate in the e-Prescribing market due to growing awareness regarding the precision offered by e-Prescribing. MEA is also expected to pick up pace going forward. This could be attributed to the UAE’s Ministry of Health and Prevention banning handwritten medical prescription since the year 2018. Persistence Market Research has mentioned these facts with insights in its latest market study entitled “e-Prescribing Market”.
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What’s with the competitors?
Persistence Market Research has profiled the key players in e-Prescribing market as Epic Systems Corporation, Cerner Corporation, Allscripts, NextGen Healthcare, Henry Schein, Inc., GE Healthcare, DrFirst, Inc., Computer Programs and Systems, Inc., RelayHealth, LLC, Atena Health, Inc., Surescripts-RxHub, LLC, and Medical Information Technology, Inc.
Persistence Market Research has gone further with highlighting the developments on this count. For instance – DrFirst, in April 2020, did partner with US-based ID.me for helping the customers of former’s e-Prescribe app in verification of their identities in no time. Also, NextGen Healthcare, in July 2019, inked a partnership deal with US-based Optimize Rx for providing real-time access to the vital financial information. The biggest advantage is that the tool is being integrated with NextGen Healthcare’s EHR workflow. Around the same time, ZappRx was acquired by Allscripts for helping e-Prescribing solutions provided by Veradigm.
In a nutshell
The global e-Prescribing market is likely to elevate on substantial grounds between 2021 and 2031 – Persistence Market Research
