Electronic medical record or EMR software is a computer system which helps healthcare providers to manage patient medical or health records and automate clinical workflows. It allows providers to generate reports on practice efficiency & compliance with government programs, Sync information with practice management & billing systems and communicate with patients & staff. It represents a huge improvement over the paper-based methods of past, and open the door to an innovative world of functionality for healthcare providers.
The key advantages are included increased revenues, save time, reduced medical errors, reduced expenses, enhanced security, improved documentation & accuracy, reduced malpractice costs, better access to medical information, receive federal/state incentives and improve quality of care. Apart from this, few of the disadvantages are included resources issues (training and re-training), financial matters, resistance by potential users, technical matters (ease of use, functionality, uncertain quality and lack of integration) and others.
According to study, “Global EMR (Electronic Medical Record) Software Market Size study, by Type (Cloud-Based EMR Software, Web-Based EMR Software), by Application (Hospitals, Physician Offices, Others), and Regional Forecasts 2018-2025” the key companies operating in the global EMR software market are GE Healthcare, Genesis Chiropractic Software & Billing, Nuemd, HealthFusion, Greenway Medical Technologies, eClinicalWorks, Practise Fusion, Epic, Athenahealth, AdvancedMD, iPatientCare, Allscripts, JVS Group, Cerner, Aprima Medical Software, NextGen, Acrendo Software, InSync, Addison Health Systems, Meditab Software, Harmony Medical, Epic Systems, ZH Healthcare, Henry Schein, Williams Group, Medicfusion, Liquid HER. Various key companies offer novel systems & software for the management of health information. Such these companies have simplified the complex medical records, hence achieving quality outcomes.
Based on type, EMR software market is segmented into web based EMR software and cloud-based EMR software. Based on application, market is segmented into general surgery, cardiology, gastroenterology, orthopedics, internal medicine, dermatology, pediatrics, OB-GYN, neurology, pain management and others. In addition, based on end-users, market is segmented into clinics & nursing homes, hospitals, home health agencies and others.
The EMR software market is driven by rise in government initiatives for maintenance of patient health records, followed by increase in need for integrated healthcare system, growth in technological advancements, improvement in clinical studies, modernization in the healthcare management system, rise in adoption of big data in healthcare sector and growth in technological advancements in the field of data storage. However, high initial investments, data privacy concerns and shortage of proper trained staff may impact the market.
Based on geography, the North-American region holds a leading position in the EMR software market followed by European region owing to growth in demand for paperless environment to minimize human error and rise in portability & accessibility of medical document management systems in the region. The Asian-Pacific region is projected to witness higher growth rate due to growth in demand for better quality of care, and rise in government initiatives to determine the patient flow management solution & electronic health records (EHRs) over the forecast period. It is anticipated that the market will be reached at rapid pace caused by rise in need to minimize records retention costs and better management of patient’s information record during the forecast period.
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Ankur Gupta, Head Marketing & Communications