US Electronic Health Records Market Analysis Report 2022 to 2030

US Electronic Health Records Market Analysis

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US's Electronic Health Record market size was valued at $11.88 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 2% from 2022-30 and will reach $13.92 Bn in 2030. This growth can be attributed to the increasing adoption of EHR in healthcare facilities. The market is segmented by product type, application type, and end user. Some of the major players are Epic Systems, Allscripts, McKesson, Meditech, and others.

ID: IN10USDH008 CATEGORY: Digital Health GEOGRAPHY: US AUTHOR: Chandani Patel

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US Electronic Health Record Market Executive Summary

US's Electronic Health Record market size was valued at $11.88 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 2% from 2022-30 and will reach $13.92 Bn in 2030. Healthcare spending in the US increased by 2.7 % in 2021, reaching $4.3 trillion, or $12,914 per person. The cost of healthcare represented 18.3% of the country's GDP.

An electronic health record, or EHR, system's core purpose is the structured electronic collection and storage of patient medical data. EHR systems promote patient data accessibility, which boosts patient care's overall efficacy and efficiency. Electronic health records are anticipated to be utilized more frequently in the future due to their extensive features, practical applications, and interoperability in a variety of healthcare settings.

The market is primarily driven by growing government initiatives to encourage healthcare institutions to use healthcare IT and expanding awareness among mental health professionals of the advantages of electronic health records (EHR). With the development of technology, doctors can now utilize the same EHR software for telemedicine, e-prescribing, clinical evaluation documentation, and other clinical and administrative tasks in addition to storing patient data. This is accelerating the US EHR market in the coming years.

us electronic health records market analysis

Market Dynamics

Market Growth Drivers

The US EHR market is driven by factors such as government incentives and mandates for the adoption of EHR systems, the need for improved patient care and safety, and the benefits of data analytics and population health management. Some of the major drivers of the EHR market include the federal government setting aside $27 billion in 2009 as part of the Health Information Technology for Economic and Clinical Health (HITECH) Act for an incentive program to encourage hospitals and providers to use electronic health records systems (EHR). Additionally, the shift towards value-based care and population health management is driving the need for EHR systems that can support data analytics and population health management.

Market Restraints

Some of the major restraints on the EHR market include the high cost of implementation and maintenance, the lack of interoperability between systems, and concerns about data security and privacy. Additionally, the lack of standardization in EHR systems can make it difficult for healthcare providers to share and exchange data with other providers, which can limit the potential benefits of EHR systems.

Competitive Landscape

Key Players

Epic Systems
Allscripts
McKesson
Meditech
Athenahealth
NextGen Healthcare
eClinicalWorks
Greenway Health
Modernizing Medicine
GE Healthcare
Practice Fusion (acquired by Allscripts)
Drchrono

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

In the United States, the regulations for electronic health records (EHRs) are primarily set by the Department of Health and Human Services (HHS) through the Office of the National Coordinator for Health Information Technology (ONC) and the Centers for Medicare & Medicaid Services (CMS).

The HITECH Act, which was passed in 2009 as part of the American Recovery and Reinvestment Act, provides financial incentives for healthcare providers to adopt and effectively use EHR systems. The HITECH Act also established the meaningful use program, which establishes standards for the use of EHR systems in order to qualify for these incentives.

The 21st Century Cures Act, passed in 2016, established the certification program for health IT, including EHRs, which is run by the Office of the National Coordinator for Health Information Technology (ONC) and is intended to increase the interoperability and security of EHR systems.

In addition, the ONC also released the Interoperability and Patient Access final rule in 2020, which aims to improve the interoperability of EHR systems and give patients more control over their health information. This rule also requires healthcare providers to make patients' health information available through APIs (Application Programming Interface) and establish a common data structure called FHIR (Fast Healthcare Interoperability Resources) to enable the movement of data between EHRs.

The CMS also has regulations related to EHRs, including the Quality Payment Program (QPP), which is part of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). Under the QPP, healthcare providers are required to use certified EHR systems to participate in the program and to report on quality measures.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Electronic Health Records Market Segmentation

By Product (Revenue, USD Billion):

Web-based and cloud-based software is more affordable since it saves on additional costs like license fees, regular upgrades, and device upkeep. Additionally, it reduces the need for IT workers because SaaS providers help with software installation, configuration, testing, operation, and upgrades. The cost-effectiveness of cloud-based EHR systems in small healthcare organizations will therefore fuel developments as well as the expansion of the category. MHealth services

Web/Cloud-based EHR software
On-premise EHR software

By Application Type (Revenue, USD Billion):

Large amounts of patient health data may be stored and processed by EHRs, which aids doctors in automating both financial and operational operations with rapid and simple access. Therefore, integrated EHR and practice management software navigates all tasks, making it easier for front-line healthcare providers to do their jobs, and will therefore drive the segment's revenue during the anticipated time period.

E-prescription
Practice management
Referral management
Patient management
Population health management

By End User (Revenue, USD Billion):

By 2027, the category of ambulatory surgical centres is expected to rise at a 7.1% annual rate. The acceptance of EHR in these facilities will be fueled by ambulatory surgical centres' growing preference for digital technologies to efficiently manage workflow. These are outpatient facilities offering planned surgeries and same-day surgical services.

Hospitals
Specialty centers
Clinics
Ambulatory surgical centers
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.