Electronic Health Records (EHRs) now form a key part of clinical decision support system and process automation in healthcare industry. Worldwide, hospitals and clinics over the decades have adopted some kind of EHRs in their patient-clinician workflow for the potential care benefits, including streamlining the whole process. These are patient-centered records mand typically include visit history, diagnoses done, medications recommended, treatment plans, immunization dates, and collate radiology images, results at laboratory and at healthcare’s site.
The EHRs are wide in scope with containing a history of allergies and any health-related information that can be beneficial to clinical practice. The EHRs market has evolved on the back of the trend of leveraging healthcare IT to improve the delivery of patient care across the continuum. Another key benefit is patient safety and the information is useful for improving access to health care.
The study on the Electronic Health Records (EHRs) market presents a detailed assessment of outlook of the market and emerging avenues by making a detailed segmentation. It includes the key drivers and restraints, emerging avenues, the underpinning regional regulations, major adoption trends in the historical period, and the competitive dynamics shaping the product development trends.
Electronic Health Records Market: Key Trends
The drive for boosting the quality of patient care at affordable costs is a key trend fueling the revenue potential of the EHRs market. Its adoption has reduced medication errors, as the focus on clinical documentation accuracy and the completeness of medical records gets starker. The growing role of EHRs in real-time clinical support systems is a key trend bolstering the expansion of the opportunities. Over the years, EHRs have been able to modify clinical decision. A case in point is its value in deciding the effective approach for anesthesia management. The ambit of EHRs are fast expanding, with healthcare IT companies relentlessly looking to offer higher functionality to end users at lower costs.
Currently the Covid-19 has been a robust driver for new avenues in the EHRs market, with even small healthcare providers preferring digitalization of their processes and digitization of all the medical records. The use of EHRs to adhere to clinical guidelines
Electronic Health Records Market: Competitive Dynamics and Key Developments
Strides made in data mining opportunities have raised the ante for players in the EHRs market. Healthcare IT companies are unceasingly working on improving the effectiveness of the system. They are making their system compatible with advanced healthcare services. A growing number of solution providers and system developers are targeting clinics and ambulatory clinical centers to consolidate their revenue potential over the forecast period. Rise in demand for ICU care in recent months imparted a new avenue for growth of the healthcare IT developers operating in the EHRs market.
Some of the prominent industry stakeholders in the EHRs market are
- HMS Holdings Corp.
- DXC Technology Company
- Greenway Health, LLC
- CureMD Healthcare
- AdvancedMD, Inc.
- NextGen Healthcare, Inc.
- McKesson Corp.
- Cerner Corp.
Electronic Health Records Market: Regional Assessment
On the regional front, North America has generated huge revenues to the global EHRs market. A key driver has been the rapid uptake across the healthcare industry in developed economies of the region. Meanwhile, over the decade, Asia Pacific has been witnessing rapidly growing demand among hospitals. Governments’ focus on boosting the healthcare infrastructure and the rapid penetration of IT in healthcare are key factors that have fueled growth prospects of the regional market.