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U.S. Computerized Physician Order Entry Market - 2002
Frost & Sullivan, Jan 2003
Customizable Solutions with Strong Buyer Support Will Increase Market Share for Vendors
As hospitals seek solutions to simplify their work and provide the best possible care to patients, computerized physician order entry (CPOE) vendors that offer easily customizable solutions will increase their market shares. Changing CPOE vendors after only a few years is cost prohibitive for most clients. As such, vendors that demonstrate superior customer service will acquire more clients. Stressing on the user friendliness of their solutions and creating a sense of synergy with the clients will help vendors enjoy long retention periods as well as attract new clients.
This Frost & Sullivan research studies the U.S. markets for CPOE products. It provides valuable analysis of market drivers and restraints along with forecasts identifying the areas of growth. The study covers effective competitive strategies, ways to improve accuracy of business planning and forecasting, and marketing effectiveness.
Low Adoption Rates for Full CPOE Solutions Present Excellent Opportunities in the Urban Hospitals Sector
With over 5,000 hospitals in the United States, it is both shocking and promising that fewer than 500 hospitals have a fully implemented CPOE system, says the author of this study. This presents a tremendous opportunity for CPOE vendors to increase their revenues and expand the overall market for CPOE adoption.
CPOE vendors can use their own market educating efforts as well as that of various industry groups to promote and gain wide spread acceptance for their products. There is ample room for multiple vendors to increase their market shares. This makes the CPOE industry attractive to new entrants in the healthcare IT industry.
Targeting Care Givers in Other Sectors and Selling CPOE Components Can Greatly Increase Revenues for Individual Vendors
There is a vast market for CPOE components (pharmacy, ordering, transcripts, and so on) in the private practices sector. The urgent care centers that are the primary medical treatment venues for places of business and people without access to a hospital for logistical or monetary reasons. Additionally, the thousands of existing nursing homes and hospices can also benefit from several CPOE components.
The sale of CPOE components need not be limited to non-hospital clients. Hospitals that cannot afford a full CPOE solution or ones that do not see the need for a complete solution are still excellent candidates for component sales. CPOE vendors are likely to generate most of their revenues in this sector as hospitals become more comfortable with the technology and gradually upgrade to a total solution.
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