ELECTRONIC MEDICAL RECORDS MARKET ANALYSIS

One of the key challenges faced in the electronic medical records market is high implementation costs associated with investing in new technology systems and training staff to use them effectively. Data security is also a major concern as patient privacy needs to be protected. There is resistance to change from some doctors and medical practices who prefer using paper records. Ensuring data is transferred accurately between different systems used by healthcare providers remains an issue. Standardization across the industry has been difficult to achieve as well.

Market Opportunities: Demand for streamlining patient data

As healthcare moves increasingly online, the demand for digitizing records will only rise in the coming years. Streamlining record sharing between providers can improve treatment coordination and patient outcomes. Analytics of aggregated medical data can facilitate medical research discoveries. Adoption of electronic prescribing can help reduce errors. With ongoing tech advances, costs are expected to continue declining over time.