The
U.S. Centers for Medicare & Medicaid Services has defined Electronic Health
Record (EHR) as an electronic version of a patient’s medical history. It is an
electronic record of a patient’s health information generated through one or
more encounters in any care provider’s setting. These records include
information such as patient demographics, problems, progress notes, vital
signs, medications, past medical history, laboratory data, immunizations and
radiology reports. An EHR system streamlines and automates clinician's
workflow. The EHR system can also directly or indirectly support care related activities
through different interfaces including quality management, evidence based
decision support and outcome reporting. EHRs assist healthcare providers in
providing better care and taking better informed decisions. One of the key
features of EHR is that the health related information can be managed in a
digital format and can be shared with other healthcare providers across
multiple healthcare organizations such as laboratories, medical imaging
facilities, pharmacies, and emergency healthcare facilities. The key benefits
of EHR systems are improved patient care, increased patient participation,
enhanced care coordination, improved diagnostic and patient outcomes, and
increased practice efficiency. According to a survey conducted by the U.S.
Department of Health and Human Services, in 2014, 79% healthcare providers
reported increase in practice efficiency by using an EHR system whereas 70%
healthcare providers reported improvement in data confidentiality. Providers
can have quick access to patients’ records from remote locations which can save
valuable time while dealing with emergency cases.
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The
key driving factors for the EHRs market are technological advancements in
healthcare IT, rising need to streamline different healthcare systems, and
favorable government initiatives for adoption and implementation of EHR
systems. With EHRs, healthcare providers can give their patients complete and
accurate information regarding their medical evaluations. They can manage and
schedule patient appointments electronically and exchange e-mails with their
patients. Moreover, quick communication between providers and patients can aid
in early identification of symptoms. However, the possible data privacy and
security issues associated with EHR systems can hamper the market growth.
Technological
advancements in EHR systems will further enhance the utility of these systems
for applications in healthcare industry. Connecting these systems with mobile
devices such as smartphones and tablets through mobile apps has contributed to
the key benefits of information availability derived by EHRs. Increasing data
security and confidentiality features of EHRs will contribute to the acceptance
rate of these systems over the coming years.
The
major players in the global EHRs market are focusing on research and
development to come up with more advanced next generation systems. For
instance, in July 2014, NextGen Healthcare and Mirth LLC, a global provider of
health information technology, launched NextGen Share, a health information
service provider (HISP). This platform enables clients to connect to external
providers through EHR products.
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Some
of the key players operating in the EHRs market are Cerner Corporation,
McKesson Corporation, Allscripts Healthcare Solutions, Inc., Quality Systems,
Inc. and Epic Systems Corporation.
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