Farmington, January 30, 2023 (GLOBE NEWSWIRE) — of Electronic health record software market It will be valued at USD 14.2 billion in 2022 and projected to grow at a CAGR of 9.1% during the forecast period 2023-2030. The global market for software that maintains electronic medical records is expected to grow by hundreds of millions of dollars between 2023 and 2030. Electronic health record (EHR) software is commonly used to systematically collect and digitally store patient medical information. The software makes it easy to get more information about your patients, improving the overall productivity and effectiveness of patient care.
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The use of EHRs is expected to increase in the coming years due to their various features, ease of use, and applicability in numerous healthcare settings. Moreover, using artificial intelligence (AI) to predict clinical outcomes based on his HER will improve care and change the patient experience, and the role of AI in creating EHR software will drive market expansion. Contributing. During the COVID-19 outbreak, electronic health record software played a key role in maintaining patient records.
Electronic health record software market Recent developments:
- June 2021, Datavant and Ciox Health have agreed to a definitive agreement to build the nation’s largest health data ecosystem. This facilitates patient-level data exchange among patients, providers, payers, health data analytics companies, patient-facing applications, government agencies and Life Sciences companies.
- May 2021, The federal Centers for Medicare and Medicaid Services (CMS) has issued a proposed rule, the Inpatient Future Payment System Rule, that will change how electronic medical records support care. This change will update how hospitals share information through electronic medical record systems, helping doctors and nurses provide the best care possible.
- April 2021, Microsoft Corporation has acquired Nuance Communications, Inc. with the goal of empowering healthcare providers through ambient clinical intelligence and other Microsoft cloud services.
Electronic health record software market Segmentation analysis:
By type, the global electronic health record software market is segmented into ambulatory, acute, and post-acute segments. In 2021, the acute EHR category is projected to hold the largest market revenue share. This market segment is growing due to the implementation of electronic health records in smaller services. For example, in the United States, acute care clinics are eligible for the Medicare Incentive Payments Program under the Prospective Inpatient Billing System (IPPS). Acute care electronic medical records generate patient data that includes all clinical facts. Additionally, these details apply to intensive care, emergency services, hospitalization, and operating room requirements.
Based on product insights, the global electronic health record software market is segmented into web-based software and client-server software. In 2021, web-based his EHR is projected to have the largest market revenue share. The growth of this market segment is due to its popularity among small healthcare providers and physicians. His web-based EHR can be installed without the need for an in-house server and offers considerable customization and expansion options.
By end user, the global electronic health record software market is segmented into hospital and ambulatory. His EHR department in hospitals is projected to account for a significant share of market revenue in 2021. The growth of this sector can be attributed to the enormous amount of medical data collected by hospitals. In addition, EHR software installation costs are much lower than those of the ambulatory care centers that drive the market.
North America dominated the global electronic health record software market and held the largest revenue share in 2021. Government initiatives to encourage adoption of EHR software and the presence of robust healthcare infrastructure with advanced digital literacy contributed to this expansion. In March 2021, TELUS HealthCare will launch the next step in digital integration with Akira by TELUS Health, an employer-focused virtual care service, with electronic health records.
Europe is second only to North America in terms of revenue share of the electronic health record software market. Increased research and development in healthcare and his EHR industry needs. The European Commission’s Digital Single Market Policy will enable the proliferation of digital networks and related services, which is expected to contribute to the expansion of the European economy. For example, in February 2022, the European Commission announced plans to invest his €292 million in digital technologies. Examples include European blockchain infrastructure, digital solutions to improve government services, artificial intelligence (AI) for crime prevention, and AI testing facilities.
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|9.1% From 2023 to 2030
|Market size in 2022
|U.S. dollar 14.2 billion
|Outpatient, acute phase, post-acute phase
|By end user
|Hospital, outpatient, (clinic, pharmacy, laboratory)
|Allscripts Healthcare, LLC, GE Healthcare, Cerner Corporation, Epic Systems Corporation, McKesson Corporation, NextGen Healthcare, Inc., CureMD Healthcare, Medical Information Technology, Inc., AdvancedMD, Inc., Greenway Health, LLC, etc.
Technological advancement is projected to drive the electronic health record software market during the forecast period. The AI-generated software is perfectly integrated and offers a variety of functions. Machine learning and natural language processing help document patient histories, organize large databases to search for important documents, and assess patient satisfaction. A combination of machine learning mode and natural language processing helps medical professionals translate speech-to-text recognition systems.
The cost of electronic medical record software is a hindrance to market expansion. Developing, implementing, and maintaining software for electronic medical records is very expensive. EHRs are expensive and difficult to implement in most emerging markets. Moreover, the development of AI-based algorithms and programs is too costly for developing countries, hindering business. Lack of qualified personnel and information on how to use complex AI and machine learning algorithms, and lack of IT infrastructure in low-income countries are expected to hamper the growth of the electronic health record software industry. Therefore, the high cost of EHR technology hinders the expansion of the industry.
As a result of government initiatives, industry acquisitions, collaborations, and implementations, electronic health record (EHR) software is increasingly being used around the world. Governments are taking steps to reduce the administrative costs that EHRs impose on healthcare providers.
Major Segments of Electronic Health Record Software Market Covered:
Top Market Players:
Allscripts Healthcare, LLC, GE Healthcare, Cerner Corporation, Epic Systems Corporation, McKesson Corporation, NextGen Healthcare, Inc., CureMD Healthcare, Medical Information Technology, Inc., AdvancedMD, Inc., Greenway Health, LLC.
- web based
- client server based
By end user:
- Internal medicine clinic
Regions and countries covered
- North America: (United States, Canada, Mexico, rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic countries, Benelux, rest of Europe)
- Asia Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
- Middle East and Africa: (Saudi Arabia, United Arab Emirates, Egypt, South Africa, rest of the Middle East and Africa)
- latin america: (Brazil, Argentina, Rest of Latin America)
- rest of the world
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