US Electronic Records Management Solutions Market Report 2022 to 2030

US Electronic Records Management Solutions Market Analysis

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The US electronic records management solutions market size was valued at $xx Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022 to 2030 and will reach $xx Mn in 2030. The market is segmented by solution and deployment. US’s Electronic Records Management Solutions market will grow as the US government has a number of requirements that call on businesses to keep their electronic documents safe and easy to access. The key market players are Access (USA), Alfresco (USA), Box (USA), Hyland Software (USA), IBM (USA), and others.

ID: IN10USDH069 CATEGORY: Digital Health GEOGRAPHY: US AUTHOR: Chandani Patel

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US Electronic Records Management Solutions Market Executive Summary

The US electronic records management solutions market size was valued at $xx Mn in 2022 and is estimated to expand at a CAGR of xx% from 2022 to 2030 and will reach $xx Mn in 2030. The modern healthcare sector in the United States must have electronic records management systems. These technologies are essential for maintaining patient data, enhancing provider communication, and raising the standard and effectiveness of healthcare.

The Health Information Technology for Economic and Clinical Health (HITECH) Act, which was passed in 2009 as a component of the American Recovery and Reinvestment Act (ARRA), is one of the major forces behind healthcare IT and electronic records management systems. In order to enhance patient outcomes, lower costs, and boost efficiency, the HITECH Act significantly funded the adoption and deployment of electronic health records (EHRs) and other healthcare IT systems.

Market Dynamics

Market Growth Drivers

The US government has a number of requirements that call on businesses to keep their electronic documents safe and easy to access. Due to this, there is now more demand for electronic records management systems that may assist organizations in adhering to these rules. Effective management of electronic documents is becoming more important as organizations transition to the digital era. This has heightened the need for electronic records management tools that may assist businesses in effectively managing their electronic documents.

Additionally, businesses are growing increasingly worried about the safety of their electronic information as the possibility of cyberattacks rises. The need for electronic records management tools that can assist organizations in securing their electronic data has grown as a result.

Market Restraints

The advantages of electronic records management solutions are not well known by many organizations. This has caused these solutions to be adopted slowly. High Implementation Costs: Especially for small and medium-sized businesses, electronic records management solutions can be expensive to adopt. Smaller organizations' ability to embrace these solutions has been constrained by this. Resistance to shift: Many organizations are reluctant to shift since their current paper-based systems are familiar to them. The use of electronic records management technologies has been constrained as a result.

Competitive Landscape

Key Players

Access (USA)
Alfresco (USA)
Box (USA)
Hyland Software (USA)
IBM (USA)
Laserfiche (USA)
M-Files (USA)
Microsoft (USA)
OpenText (Canada)
Oracle (USA)

Healthcare Policies and Regulatory Landscape

The Federal Records Act (FRA) of 1950, requires federal agencies to create and preserve records that document the activities and transactions of the government
The Freedom of Information Act (FOIA) of 1966, requires federal agencies to provide public access to records created and maintained by the government
The Privacy Act of 1974, regulates the collection, use, and disclosure of personal information by federal agencies
The Sarbanes-Oxley Act of 2002, requires publicly traded companies to maintain accurate and complete records and to establish internal controls to ensure the accuracy of financial reports
The Health Insurance Portability and Accountability Act (HIPAA) of 1996, regulates the use and disclosure of protected health information by healthcare providers, health plans, and other entities that handle health information
The Electronic Signatures in Global and National Commerce Act (ESIGN) of 2000 provides legal recognition for electronic signatures and records
The Uniform Electronic Transactions Act (UETA) of 1999, provides legal recognition for electronic transactions and contracts

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

US Electronic Records Management Solutions Market Segmentation

By Solution

The Electronic Records Management Solutions market can be segmented by solution into software, services, installation & integration, consulting, and training. Software solutions include ERMS software that manages electronic records across their lifecycle. Services include a range of offerings related to ERMS solutions, including implementation, customization, maintenance, and support. Installation & integration includes services related to the installation and integration of ERMS solutions with existing IT systems. Consulting services include needs assessment, business process analysis, and solution design. Training services include end-user training and system administrator training

Software
Service
Installation & Integration
Consulting
Training

By Deployment

On-premise solutions involve the installation and use of ERMS software on the organization's own servers and hardware infrastructure. This deployment method provides organizations with greater control over their data and systems, as well as the ability to customize the software to meet their specific needs.

Cloud-based solutions involve the use of ERMS software that is hosted on the vendor's servers and accessed over the internet. This deployment method offers organizations greater flexibility, scalability, and cost-effectiveness, as they do not need to invest in their own hardware infrastructure and can access the software from anywhere with an internet connection.

On-premise
Cloud-based

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.