Electronic medical records, or EMRs, are the digital equivalents of paper records or charts at a doctor's office. Hospital EMR systems come in a variety of forms, including hardware, software, and services, and can be deployed on-premise or in the cloud. Patient data can be tracked over a long period of time by multiple healthcare professionals using EMR. It can help identify people who need preventive checkups and screenings, as well as keep track of how each patient measures up to certain requirements like blood pressure readings or vaccines. Electronic medical records (EMRs) are intended to assist organizations in providing more efficient and precise care.
The most important distinction is that EMR records are universal, which means that instead of having different charts at different healthcare facilities, a patient will have one electronic chart that can be accessed from any healthcare facility that uses EMR software.
COVID-19 Impact analysis
- The COVID-19 pandemic has a positive impact on the healthcare information system industry. Through remote consultations, hospital information systems enable clinical professionals to assess and analyze patients, e-prescribe medication and therapies and recognize changes in their diseases. As a result of social distancing being the only strategy established for decreasing COVID-19 exposure, the COVID-19 pandemic is providing significant opportunities to hospital information systems. Telemedicine becomes an appealing, powerful, and reasonable option in this way. Furthermore, this innovation is critical in ensuring the safety of healthcare providers.
Top Impacting Factors
The increase in number of hospitals adopting EMR solutions worldwide, the need to control rise in healthcare costs, government mandates, and support to boost hospital EMR solution adoption, and the increased patient volume due to the global COVID-19 pandemic are the factors that contribute toward the market growth.
In addition, strict adherence to government regulations and legislation aimed at simplifying patient care, such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA), boosts the use of hospital EMR systems.
These systems improve reporting capabilities, allowing for the early detection of potentially dangerous epidemics or treatment-related concerns. Market growth is expected to be fueled by increased knowledge of the system's multiple benefits.
The hospital EMR systems market is fueled by an increase in the utilization of Big Data in conjunction with hospital EMR systems to discover patterns such as disease risk factors.
Increase in demand for cloud-based EHR solutions, as well as a shift toward patient-centric healthcare delivery systems, are further opportunities that propel the market further.
However, the high deployment cost of EMR solutions and data security concerns hinder market growth to some extent during the forecast period.
New product launches to flourish the market
- In 2020, MTBC acquired CareCloud Corporation that will help the company yield greater operating efficiencies, accelerate growth, and provide more flexibility for future expansion.
- In 2019, MEDITECH collaborated with Google to offer EHR data through the Google Cloud Platform. This helped to securely deliver patient data, enhance scalability, and facilitate interoperability.
- In 2019, NextGen Healthcare acquired OTTO Health that helped the company provide integrated virtual care capabilities to its software. The company has integrated the OTTO Health platform with the NextGen EHR platform.
- In 2019, Epic Systems partnered with Teledoc Health to integrate Teledoc Health’s virtual care platform with Epic’s App Orchard that would help the company conduct telehealth video visits.
Key Benefits of the Report
- This study presents the analytical depiction of the Hospital EMR Systems along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Hospital EMR Systems market share.
- The current market is quantitatively analyzed to highlight the Hospital EMR Systems market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Hospital EMR Systems market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Hospital EMR Systems Report
- Who are the leading market players active in the Hospital EMR Systems market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Hospital EMR Systems "?
- What is "Hospital EMR Systems” Market prediction in the future?
- Who are the leading global players in the "Hospital EMR Systems” Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Hospital EMR Systems” Market report?
Hospital EMR Systems Market Report Highlights
By Delivery Mode
By Hospital Size
Key Market Players
Intersystems Corporation (US), Advanced Data Systems Corporation (US), MEDITECH (US), CPSI (US), athenahealth, Inc. (US), NextGen Healthcare (US), GE Healthcare (US), MTBC (US), CureMD (US), Cantata Health (US), Epic Systems Corporation (US), eClinicalWorks (US), Allscripts Healthcare Solutions, Inc(US), MEDHOST (US), Cerner Corporation (US)