POINT OF CARE (POC) DATA MANAGEMENT SYSTEMS MARKET ANALYSIS

Market Challenges And Opportunities

Initiatives accelerating adoption of Electronic Health Records (EHR) is expected to drive market growth

Initiatives taken by various organizations in order to transform the healthcare infrastructure such as the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, are increasing adoption of Electronic Health Records (EHR) in healthcare facilities. Moreover, in 2015, the Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health IT (ONC) supported the concept of electronic health records-meaningful use [EHR-MU]. Meaningful Use is attributed to ensure certified EHR technology, which provides efficient electronic exchange of health information, thus improving the quality of care. However, high capital investment associated with installation of web-based and on-premise data management systems and software deters their adoption to some extent. Furthermore, increasing concern regarding patient healthcare data and high cost related to data protection and privacy are also restraining point of care data management systems market growth. Data management systems require regular maintenance for uninterrupted operation and to avoid issues during work process. The Department of Information Strategy, 2013, states that the maintenance cost increases the expenditure associated with system and it varies from US$ 1,000 to around US$ 4,000 annually.