Kalorama Information’s EMR Market 2017: The Electronic Medical Records Market in an Era of Disruption details 5 interesting trends about the EMR market.
Fact One: EMR is a Market of Hundreds of Companies
The electronic medical records market is competitive, with over 1,000 providers, according to market research firm Kalorama Information. However, increasing mergers and acquisitions in the industry will result in the reduction in the number of competitors. Local and country-specific vendors were counted in the total number of EMR providers but were not considered as major players in worldwide market participation. Companies remain competitive by offering high-quality solution packages to private practices and hospitals. A key 20 or so companies control the larger portion of the market, according to Kalorama Information’s market research study. Cerner has the largest share of the EMR market; however, there are still many opportunities for other companies and new entrants. There is still not a single system that is complete with true interoperability. The main drawback for smaller companies is the cost to enter the market with a certified product. Several leading and innovative market participants are discussed in this report along with unique niche players including:
- Advanced MD
- ALERT Life Sciences
- Allscripts Healthcare Solutions
- Amazing Charts
- Aprima Medical Software
- Cambio Healthcare Systems
- CompuGroup Medical
- Computer Programs & Systems
- Dr First/Rcop
- Egton Medical Information
- GE Healthcare
- Greenway Medical
- Henry Schein
- IMS MAXIMS
- InterSystems Corporation
- Medical Information Technology
- Medsphere Systems
- MeridianEMR, Inc
- Microtest Ltd.
- Nightingale Infomatix
- NoemaLife S.p.A.
- Nuesoft Technologies
- Practice Fusion
- QuadraMed Corporation
- Quality Systems
- Quest Diagnostics
- SAP AG
- Sequel Systems, Inc
- StreamLine MD
- WRS Health
- Web PT
Fact Two: IT Staff is a concern at all venues
As the infusion of technology in healthcare creates demand for those with expertise, hospitals and large physician practices are challenged. They may have the dollars and incentive, but not the personnel to implement and maintain EMR systems. Vendors that offer the best service will be rewarded.
Fact Three: Hospitals Mostly Serviced by Top 10 Vendors But not Entirely
Most hospitals go to Epic, Cerner, McKesson or other large healthcare IT companies. There is still a hospital market for small, web-based EMR software, approximately 20% of the hospital market, according to Kalorama Information.
Fact Four: Market Growth has been impressive, but watch out
The CMS penalties for physicians and hospitals still using paper records has been a motivator. Incentives for EMR use are one driver for the market but there is penalty for not using EMR beginning in 2015. Thanks to the incentive, use has increased among physicians, the group that vendors and the government have been targeting. Growth rates were impressive in 2012-2016, averaging 15%. However, growth is slowing and the focus is now on the physician and patient relationship. Regulations for attestation are changing providing more flexibility for participants
Fact Five: Data Storage Remedies and Security Breaches are a high priority for participants
This is leading to more offerings from vendors addressing these issues and more demand from customers to make sure their information is secure. Security breaches are a top concern as several high profile establishments have been hacked. In addition, the proliferation of smart phones, tablets and other wireless technology pose security issues.
Find more interesting trends from EMR Market 2017: The Electronic Medical Records Market in an Era of Disruptionat: https://www.kaloramainformation.com/EMR-Electronic-Medical-10785187/.
About Kalorama Information
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SOURCE Kalorama Information