Market Challenges And Opportunities

Global E-Prescribing Market – Restraints

There is an immense need to reduce medication errors caused due to wrong interpretation and pronunciation of drugs. For instance, Valtrex (to treat herpes virus infections) and Valcyte (to treat cytomegalovirus (CMV)medication are both used for Cytomegalovirus (CMV), but for different reasons and a heart transplant patient receiving Valtrex instead of Valcyte can undergo serious. Therefore, e-prescription plays a crucial role in avoiding such errors and reduces chances

Increasing launch of new technologies in service platform is expected to drive the growth of global e-prescribing market over the forecast period.

Increasing launch of new technologies in service platform is expected to drive the growth of global e-prescribing market over the forecast period. For instance, on March 15, 2022, FDB (First Databank, Inc.), the provider of drug knowledge that helps healthcare professionals make precise decisions, announced the launch of FDB Vela, a new, cloud-native electronic prescribing (ePrescribing) network that enables the seamless flow of critical medication prescription information, benefits verification, and clinical decision support between prescribers, payers, pharmacies, and other constituents. With the launch of FDB Vela, participants including electronic health record (EHR) developers and other technology partners, payers, pharmacy benefit managers (PBMs) and pharmacies have a new choice that provides accessibility to all types of participants, easy onboarding, and the ability to leverage advanced functionalities to streamline prescribing and fulfillment.

Increasing inorganic growth strategies such as collaboration by the key market players is expected to drive the growth of global e-prescribing market over the forecast period.

Increasing collaboration between the key market players in service platform is expected to drive the growth of global e-prescribing market over the forecast period. For instance, in May 2021, Veradigm, a provider of data and technology solutions and a business unit of Allscripts Healthcare Solutions, announced an agreement to collaborate with Lash Group, a patient support services business, and a part of AmerisourceBergen, a wholesale company. This collaboration will enable specialty medications, supported by Lash Group, to be available for management within the Veradigm AccelRx platform, which streamlines the specialty enrollment process for users of Veradigm, Allscripts and other electronic health record (EHR) software vendors with efficiency, resulting in a streamlined process and increased speed-to-therapy.

Global E-Prescribing Market: Key Developments

Increasing inorganic growth strategies such as acquisition by the market player is expected to drive the growth of global e-prescribing market over the forecast period. For instance, on February 17, 2022, NextGen Healthcare, Inc., a provider of cloud-based ambulatory-focused technology solutions, announced that it partnered with Verato to incorporate patient matching into the NextGen Health Data Hub (HDH) platform. NextGen Health Data Hub provides healthcare providers with the clinical content management, connectivity, data access, security and access permission features to get the fullest view of a patient’s health. With Verato Universal MPI integration, Health Data Hub will provide identity management to address the complexities of patient matching.

Moreover,in June 2019, Allscripts, a healthcare IT company, acquired prescription drug startup, ZappRx, a digital health company. This acquisition will help the company to further expand in Veradigm e-prescribing business.

Increasing inorganic growth strategies such as collaboration by the key market players is expected to drive the growth of global e-prescribing market over the forecast period.