An electronic health record or simply EHR refers to a digitized version of the paper chart of a patient. These health related records are patient centric and also real time, which offers a secured and instant accessibility of wide range of healthcare data and information possible for the concerned users. This system of health records is specifically developed to go a step beyond the traditional clinical information that is accumulated in by the service provider. Such factors are thus expected work in favor of the development of the global electronic health records market in the near future.
The EHR contains the medical as well as treatment histories of patients that makes it quite easier for the medical professionals and practitioners to gauge a broader view of the overall health condition of patients in quicker time. These electronic health records are quickly becoming a key component of the overall healthcare IT infrastructure.
Development of Healthcare IT Infra to Guide Market Growth
There are several factors that are helping to drive the growth of the global electronic health records market. One of the biggest growth factors for the market is the rapid integration and adoption of healthcare IT infrastructure across the globe. Several notable hospitals and healthcare service providers are adopting latest software and digital platforms that will automate mundane and time consuming processes and make the overall service more patient centric and easy going. Having electronic healthcare records is one crucial step towards achieving such streamlined operating approach where the medical professionals can quickly access the past medical records and histories of patients within a few clicks.
In addition to this, with the constant prevalence of chronic infections and diseases, the number of patients visiting clinics and hospitals has been on the rise. Having a detailed and organized record of patients is vital for identifying healthcare trends, emergence of new diseases, symptoms, and other factors. Having organized records also helps regulatory authorities to quickly identify anomalies and flag them in time.
Another important factor for the global electronic health records market is the growing geriatric population across the globe. This demographic is more susceptible to different diseases and ailments. Having a clear and organized medical record and history helps healthcare service providers to quickly determine the course of action in case of any emergency or at the time of hospitalization.
Improved Accuracy and Efficiency to Drive Market Growth
Electronic health records are digitally stored and can be accessed easily by the authorized users. Having this information digitized works in two-fold manner. It helps in providing quicker access to the medical care provider at the time of emergency. On the other hand, it also helps in keeping the patient’s private information secure and confidential. With data privacy being a focus point of several controversies, having such secured way of storing healthcare records is also projected to drive the growth of the global market. In addition to this, using electronic health records also helps in minimizing human error and improves overall accuracy. This too is projected to play an important role in increased adoption of the market in the coming years.
There are however some factors that are projected to hamper the growth of the global electronic health records market and stop it from achieving its full potential. One of the key restraining factors is the constant cyber-threats and data breaches. The service providers are constantly developing new tools to keep hacker at bay, however, this development takes time, which in turn might slowdown the market growth.
Some of the key companies operating in the global electronic health records market are Allscripts Healthcare Solutions, Inc., Athenahealth, Inc., Cerner Corporation, CPSI, Epic Systems, eClinicalWorks, GE Healthcare, Greenway Health, LLC, Medical Information Technology, Inc., McKesson Corporation, NextGen Healthcare, and 4medica.
Reference Link: https://www.transparencymarketresearch.com/electronic-health-records-market.html