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U.S. Ambulatory EHR Market
Frost & Sullivan, Aug 2010, Pages: 139
This research service analyzes trends in the U.S. ambulatory electronic health records market since 2009, predicts future changes in market measurements through 2016, and provides a comprehensive analysis of challenges, drivers and restraints facing market participants. The research includes an overview of major players and core technologies, forecasts of total market revenues and market segment revenues by physician practice size and non-physician clinicians, and a synopsis of strategic imperatives and recommendations for competitive advantage
This Frost & Sullivan research service titled U.S. Ambulatory EHR Market analyzes the trends prevailing in the market since 2009, and predicts future changes in market measurements through 2016. The study provides a comprehensive analysis of the challenges, drivers, and restraints facing market participants. The research includes an overview of major players and core technologies, forecasts of total market revenues and market segment revenues by physician practice size and non-physician clinicians, and a synopsis of strategic imperatives and recommendations for obtaining competitive advantage.
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Market Overview
Rapidly Shifting Dynamics of the U.S. Ambulatory EHR Market Presents Significant Opportunities and Risks for EHR Vendors
The rate of electronic health record (EHR) adoption among U.S. physicians is expected to witness a dramatic uptrend over the next 2 to 5 years owing to a combination of changes brought on by healthcare reform. Financial subsidies provided by the U.S. Government’s HITECH program have also boosted the prospects of this market. The myriad technological, competitive, and logistical complexities associated with the growing EHR market requires a particularly careful approach to strategic positioning to derive the best advantage. “Today, many public and private stakeholders are committed to harnessing the power of information technology to improve the quality and efficiency of our healthcare system,” notes the analyst of this research service. “We are finally seeing all these efforts come together to really help providers make the transition from siloed paper charts to interoperable electronic health records
The continued increase in the use of information technology across all types and sizes of healthcare providers is inevitable due to the simple fact that it is becoming increasingly impossible to function clinically or survive financially without it. The trend in increased adoption of information technology has been underway for the past decade. Going forward, growing complexities in managing the reimbursement process with both government and commercial payers who increasingly reward quality in the process of care and care outcomes over the quantity of care provided will further accelerate the use of EHRs and related solutions for physicians and other clinicians. These providers will increasingly be connected to (or employed by) integrated health delivery systems requiring a level of communication and care coordination among providers that will only be possible with universal adoption of interoperable EHRs.
Over the past year, HITECH has significantly increased awareness around the issue of EHRs, including with the general public. In addition to direct payments to physicians and hospitals for the “meaningful use” of EHRs, HITECH will indirectly stimulate the market by enticing additional stakeholders like commercial payers, professional medical societies, healthcare manufacturers, and various nonprofit organizations to get more involved in helping physicians and other providers to successfully adopt information technology in their practices.
Although there will certainly be difficulties on the road to full adoption of EHRs, the basic upward trajectory will continue and the technology will get better and cheaper with time.
The EHR market is immature and characterized by a high degree of fragmentation among customers and vendors and uncertainty due to numerous regulatory and technology issues impacting business conditions in a variety of ways. Revenues are expected to fluctuate considerably over the next 5 to 7 years resulting in significant year-over-year shifts particularly as the market matures and increased competition comes into play exerting a strong downward pressure on pricing.
Strategic partnering with a variety of stakeholders will be crucial for survival in this market as the inevitable consolidation on both the vendor and provider side accelerates. Innovative, provider-focused, and patient-centric technology companies that understand how to juggle this industry’s unique combination of risks and rewards will be able to achieve business progression. Products and services need to extend beyond the traditional physician end-user to incorporate the growing non-physician clinician end-user, particularly physician assistants and nurse practitioners providing primary care. “Branding and outreach messages need to extend beyond physicians to include non-physician healthcare providers as well as healthcare consumers both of whom should be directly engaged as advocates for the use of health information technology,” says the analyst. “Patients in particular need to understand the role EHRs play in driving quality improvements and care coordination among all their (physician and non-physician) providers.”
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