The increasing use of healthcare IT solutions and/or government measures to promote HCIT usage are two major factors anticipated to boost growth of the global electronic health records market. For instance, the National Health Authority of India will start offering incentives in January 2023 to healthcare providers and other members of the nation's digital health ecosystem who support the development of digital health records. Under the Ayushman Bharat Digital Mission (ABDM), the Digital Health Incentive Scheme would quicken digital health transactions in India. The increasing use of electronic health records (EHR) in healthcare settings is another factor propelling the growth of the global market for electronic health records during the forecast period. The global market for electronic health records is anticipated to see considerable development potential due to the rising prevalence of chronic diseases worldwide. Global geriatric population increase is anticipated to present considerable potential prospects for market participants in electronic health records. The government of many developing nations is funding and establishing innovative programs to ensure that its inhabitants have access to better healthcare facilities.
According to Coherent Market Insights, The market for Electronic Health Records was estimated at US$ 28.14 billion in 2022 and is anticipated to grow at a CAGR of 2.8% from 2023 to 2030 to reach US$ 35.23 billion.
Major Players in the Electronic Health Records Industry:
1. eClinicalWorks
The company was started in 1999 and is based in Westborough, Massachusetts, United States.To healthcare professionals, the business offers software and services for electronic medical records (EMR), practice management, and personal health records. The company revealed the latest achievements of its collaboration with MedPeds, LLC in July 2023. The largest medical facility in the Goodyear, Tempe, and Phoenix areas and a heritage user of the company, Mountain Park Health Center, was highlighted in a June 2023 press release.
2. Cerner Corporation
The firm was founded in 1979 and is based in Missouri, United States. The business is a provider of hardware, software, and health information technology (HIT) services. Oracle Corporation announced a deal to purchase Cerner for about $28.3 billion in December 2021.It was completed in June 2022. For one of the top nonprofit Catholic health systems in the country, Oracle Cerner and Labcorp have forged a new partnership in November 2022 to modernize lab operations.
3. GE Healthcare
The company was started in 1892 and is based in Chicago, Illinois, United States. The business creates, produces, and markets medical items. It was revealed in February 2023 that GE HealthCare had purchased Caption Health, a maker of AI-based medical technologies with its headquarters in San Mateo, for an undisclosed price. In order to develop AI-based software, GE and Spectronic Medical began working together in 2021.
4. Allscripts Healthcare, LLC
The business was started in 1986 and is based in Chicago, Illinois, United States. The company offers practice management and electronic health record (EHR) technologies to hospitals, other healthcare facilities, and physician offices. The company's name has been changed to Veradigm Inc. as of January 2023. Allscripts unveiled New App Expo in March 2022 to display a wider variety of integrated solutions.
5. Epic Systems Corporation
The company was started in 1979 and is based in Verona, Wisconsin, United States. The company creates, designs, and develops software. The company provides community hospitals, academic institutions, children's groups, safety net suppliers, and multi-hospital systems with a range of management tools. Epic introduced Connection Hub in December 2022 as a platform for manufacturers to showcase their compatibility with Epic software.
Definition: An electronic health record (EHR) is a standardized collection of patient and population health information that has been digitally saved. EHRs are real-time, patient-centered records that make information instantaneously & securely available to authorized users. The electronic health record is a digital version of the paper chart for the patient.
