EHR stands of Electronic Health Record (EHR) and EMR stands of Electronic Medical Record. EHR/EMR define as systematic collection of patients’ electronically-stored health information in a digital format. The digitally-stored healthcare information is shareable across different healthcare settings. It typically includes information for instance medical history, radiology images, billing information, medications & allergies, patient demographics, and others. It improves the quality & coordination of care (medical services).
The key benefits are improved patient care, better data tracking over time, streamlined sharing of updated & real-time information and timely reminders for patient screenings & preventative checkups.
According to study, “Global & US EHR/EMR Market Information By Component (Software, Services & Consulting, Hardware), By Application (Specialty Based, Cardiology, Neurology, Oncology, Radiology, General Based), By Mode of Delivery (On-Premise Model, Cloud-Based), By End User (Hospitals, Ambulatory Care, Diagnostic Centers, Others), By Region (Americas, Europe and Asia-Pacific) – Global Forecast till 2023” the key companies operating in the global & US EHR/EMR market are Allscripts Healthcare Solutions Inc., Advanced Data Systems Corporation, Koninklijke Philips N.V., Cerner Corporation, Epic Systems Corp., eClinical Works, NextGen Healthcare, Praxis EMR, Medical Information Technology Inc., 4Medica, GE Healthcare, Athenahealth Inc., CureMD Corporation, Computer Programs and Systems, Inc., Quality Systems, Inc., Greenway Health, LLC.
Based on component type, global & US EHR/EMR market is segmented into services & consulting, software, and hardware. Software involves several provisions of sharing medical records by the application of information technologies and telecommunication to remotely located patients. Based on mode of delivery, market is segmented into cloud-based and server-based or on-premise model. Based on application, market is segmented into specialty based, neurology, cardiology, oncology, general based and radiology. In addition, based on end-use industry, market is segmented into hospitals, ambulatory care, diagnostic centers, and others.
The global & US EHR/EMR market is driven by rise in government initiatives for maintenance of patients' electronic health records, followed by growth in adoption of EER/EMR, favorable incentive programs, growth in awareness pertaining to electronic healthcare & electronic medical records systems, increase in use of cloud computing & web-based solutions, cost-effectiveness of EHRs, consolidation of healthcare providers, rise in care quality, high density of population, rapid adoption of healthcare IT and clinical benefits associated with the application of EHR-EMR. However, rise in data security concerns and high cost of implementing EMR & EHR followed by the need for training may impact the market. Moreover, growth in adoption of EHRs-EMRs in untapped markets is a key opportunity for market.
Based on geography, the North-American region holds major share, followed by European region in global & US EHR/EMR market owing to growth in healthcare expenditure, rise in innovation & improved efficiency, increase in number of chronic diseases, and rise in government initiatives to promote healthcare sectors in the region. The Asian-Pacific region is projected to witness higher growth rate due to growth in advantages of EHR, increase in number of healthcare organizations, and rise in healthcare information technology in controlling expenses over the forecast period. It is predicted that future of the market will be bright on account of rapidly changing technology, rise in technologically advanced healthcare infrastructure and presence of many key players during the forecast period.
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Ankur Gupta, Head Marketing & Communications