Published Apr 18, 2017 |
290 Pages |
Pub ID: KLI15322042
EMR Market 2017: Electronic Medical Records in an Era of Disruption
For a decade, the EMR market could be said to be a growing market on a predictable trajectory. No more. The $28 billion-dollar EMR market is witnessing fundamental changes that are important for market watchers to know about that could affect the market. These are among the disruptive changes affecting the EMR market and EMR companies:
• Frustrated Physicians
• Hospitals Switching EMR Vendors
• A New President and New Healthcare Policy Leaders
• Ransomware Attacks and Cyber Breaches Causing a PR Downside
• "Dashboarding," Blockchain and Other Product Trends
• Hundreds of Competitors
• No Vendor With Even 1/5th of the Market
• Interoperability Mandates
• IT Staff Shortages
These are just some of the changes covered in detail in Kalorama Information’s new report, EMR Market 2017: Electronic Medical Records in an Era of Disruption,
on the electronic medical records market, one that Kalorama has covered since 2007, including our 2016 report.
The Era of Disruption in the EMR Market
Kalorama Information's EMR Market 2017: Electronic Medical Records in an Era of Disruption provides the EMR market size, as well as market forecasts and trends. Some trends we've noted in this report included the depth of physician adoption, user dissatisfaction with their purchases, lack of interoperability, implementation difficulties, staffing shortages in IT, the lack of a clear EMR market leader, increasing international markets, and cybersecurity. Additionally, a new administration with a different set of objectives from the Obama Administration that incentivized EMR purchases is in office, potentially changing programs. Kalorama Information believes that at this time these trends are combining to distrupt the EMR marketplace, even while revenues for companies grow. The report takes a look at these trends and provides the following data:
• The EMR Market, 2014 and Forecasted to 2021
• Possible Trump Administration Moves and Likely Impact
• Blockchain, OpenSource EMR, BYOD and Other Must-Watch Trends
• Electronic Medical Records Vendor Market Share
• The Hospital and Ambulatory EMR Markets, 2014-21
• Breakouts of Market: Services, Software, Hardware
• Meaningful Use, MACRA and Other Policies
• The Latest Physician EMR Usage Statistics
• Current Hospital Stage Goals and Results
• Pricing of EHR Systems and ROI Information
• International EMR Markets
• Over 50 Profiles of EMR Companies
EMR Market 2017: Electronic Medical Records in an Era of Disruption is a look at the market and trends affecting electronic medical record software, EMR companies, and related services. Included in the report are statistics influencing EMR companies in the industry, demographics, life expectancy, and company strategies.
Industry-Focused Report: A Look at Potential Policy Moves and Their Impact on the EMR Market
Kalorama Information reports are based on real industry events and performance, not academic models. Revenues are based on worldwide figures. Included in the revenues are sales of software, services, consulting and replacement. A market summary includes a total EMR market analysis. Also included is a competitive analysis of leading EMR system providers. Most importantly, this report contains a look at big issues and trends in the industry. Mergers are detailed, physician and hospital adoption stats are provided. A list of potential Trump Presidency moves and their likely impact are detailed in the report as well.
Issue – New Administration policy
EMR companies in the industry have been plagued with confusion regarding meaningful use and certification of EMR systems, which has slowed adoption progress. It appears the adoption rate for electronic medical records may have decreased in 2009 and to some degree 2010 as a result of confusing guidelines, though the percentage of physicians using electronic records made progress. Many of the well-intended helps such as regional extension centers have failed to materialize and those that did were busy trying to put their own house in order so that they could help the community. Clearer guidelines and support available in 2011 and 2012 have helped the industry to push forward but there is still some confusion, especially with small physician offices. In 2016, the EHR reporting period for a payment adjustment year for EP who are new participants is any continuous 90-day period in 2016. New participants who successfully demonstrate meaningful use for this period and satisfy all other program requirements will avoid the payment penalty in 2017.
Issue – Cybersecurity
There continues to be an uptick in the number and severity of security breaches in healthcare involving small and large institutions alike. Security of medical records is still of highest concern and one that seems to be experiencing increasing bumps in the road. There have been numerous breaches in all areas of healthcare and it does not seem to be getting better. With so many portals to access the information, systems have a hard time securing the contents. This will continue to be a huge concern for all participants. Stringent security measures are mandated with updates to HIPAA and with more stringent HIPAA guidelines now in play, the industry can expect to see fines that are more significant. This area continues to be an Achilles heel for the industry.
Issue – Frustrated Physicians.
Physicians have repeatedly complained that EHRs are difficult to use. Many EHR interfaces are awkward and non-intuitive creating more problems than solutions. Physicians are not convinced that EMR’s will cut costs or help to provide better and safer care. One of the reasons for this may be that vendors do not seem to be in touch with what physicians need in their individual practices. Furthermore, EHRs often get in the way and slow users down because of the way they are configured or are not convenient to use. Most EHRs are not designed to help physicians juggle the simultaneous tasks they all face, like answering a question about one patient while in the middle of writing a prescription for another.
Over 1,000 EMR Providers in the Market
The electronic medical records market is competitive, with over 1,000 EMR providers; however, increasing mergers and acquisitions in the industry will result in the reduction in the number of companies in the EMR market. Local and country-specific vendors were counted in the total number of EMR providers but were not considered as major players in worldwide market participation. EMR providers remain competitive by offering high-quality solution packages to private practices and hospitals. Cerner has the largest share of the EMR market; however, there are still many opportunities for other companies and new entrants. There is still not a single system that is complete with true interoperability. The main drawback for smaller companies is the cost to enter the market with a certified product.
Several leading and innovative EMR providers are discussed in EMR Market 2017: Electronic Medical Records in an Era of Disruption along with unique niche players including:
• Advanced MD
• ALERT Life Sciences
• Allscripts Healthcare Solutions
• Amazing Charts
• Aprima Medical Software
• Cambio Healthcare Systems
• CompuGroup Medical
• Computer Programs & Systems
• Dr First/Rcop
• Egton Medical Information
• GE Healthcare
• Greenway Medical
• Henry Schein
• IMS MAXIMS
• InterSystems Corporation
• Medical Information Technology
• Medsphere Systems
• MeridianEMR, Inc
• Microtest Ltd.
• Nightingale Infomatix
• NoemaLife S.p.A. (Dedalus S.p.A)
• Nuesoft Technologies
• Practice Fusion
• QuadraMed Corporation
• Quality Systems
• Quest Diagnostics
• SAP AG
• Sequel Systems, Inc
• StreamLine MD
• WRS Health
• Web PT