Did the U.S. EHR Market Gain Prominence During the COVID-19 Pandemic? | Arizton

The rising prevalence of acute and chronic diseases across the US is boosting the growth of the EHR market. The U.S. Electronic Health Record market holds the highest market value due to better healthcare accessibility, healthcare coverage, and spending. According to the study, in 2018, the age-standardized rate for all cancer was 352.2 per 100,000 in the US. Factors such as the presence of major companies, continuous progress in healthcare settings, and expansion of healthcare IT infrastructure are driving the EHR market in the US. The key players in the US include Allscripts, Athenahealth, Cerner, EclinicalWorks, and Epic, are making the EHR market more fragmented with intense competition as many companies compete and there is no single or small group of companies that are dominating the industry. The hospital segment is one of the major end-users in the market. The Electronic Health Record market is growing rapidly and each year new companies are entering in this space with innovative products, especially if customers are waiting for new products. The competitive environment in this EHR market is expected to strengthen further with the increase in services provided, technological upgradation, and M&As. As per Arizton’s research, international players will grow inorganically by acquiring regional and local players in the coming years. With the increasing usage of EHR, telehealth services, and mobile technologies such as tablets and smartphones, physicians and patients are both realizing the benefits that these new medical technologies are bringing in the market.

Read: U.S. Electronics Health Records (EHR) Market Industry Outlook and Forecast 2020-2025 : https://www.arizton.com/market-reports/electronic-health-records-ehr-market-in-united-states

Rising Need to Improve Health Record Portability

The US is making substantial efforts in engagement for the promotion of EHR adoption. Various electronic gadgets have come to play a critical role in tracking and preventing chronic illnesses for many patients and their doctors. The increase in the scale of digitalization of services in the US healthcare delivery institutions. It has been claimed by practitioners and clinicians that electronic health records can enhance the quality and safety of care besides improved management of health information and clinical data. It is also observed that healthcare in the US is dependent on various factors such as skyrocketing costs, personalized medicine, regenerative medicine, evidence-based medicine, gene therapy, robotic surgery, artificial organ, technology, and their applications. Electronic health records are helping healthcare professionals to improve their work and increase the efficiency and effectiveness in providing healthcare facilities to patients that in turn, is fueling the growth of the US Electronic Health Record market. Some emerging technologies are envisaged to provide one or more directions that conserve time and space to reduce the spiraling cost of a fragmented US healthcare system. Without an electronic healthcare record, it becomes impossible for a large healthcare organization to coordinate patient care, manage population risks, and efficiently submit insurance claims.

Impact of COVID-19

The sudden outbreak of COVID-19 has created immense stress over the few months. The usage of clinical EHR has been influential in overcoming the challenges faced in COVID-19 pandemic. The players and the organizations have come forward to stop the spread of coronavirus by making telehealth a mainstream option, augmenting EHR data access by way of analytics and collaborating to develop detailed COVID-19 dashboards. Due to the pandemic, the implementation of telehealth has helped reduce overcrowding in hospitals and following the government norms to maintain social distance in public places. The entire healthcare landscape has changed across the globe to overcome the pandemic. The novel coronavirus continues to spread in the US, it is creating COVID-19 cyber threats in the US, aimed at individuals and health systems. The EHR market is trying to improve its software to overpower such issues.

Read: Telehealth Market Global Outlook and Forecast 2020-2025 : https://www.arizton.com/market-reports/telehealth-market-size-analysis

FAQs about the EHR market:

Q. What is the market size of the U.S. EHR market?

A. The U.S. EHR market is projected to reach revenues of over USD 10 billion by 2025.

Q. What is the market growth of the U.S. EHR market?

A. The U.S EHR market is projected to grow at a CAGR of over 6% during the forecasted period.

Q. What is the market segmentation of the U.S. EHR market?

A. The U.S. EHR market is segmented by end-users, deployment, and applications.

Q. What is the market insight of the electronic health record?

A. The EHR market is likely to achieve growth due to the increasing patient pool and the rising demand for advanced healthcare infrastructure, particularly in rural areas.

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