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North America Electronic Health Record Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Installation Type ; Type ; End User

North America Electronic Health Record Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Installation Type ; Type ; End User

  • July 2021
  • 127 pages
  • ID: 6134726
  • Format: PDF
  • The Insight Partners

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The electronic health record (EHR) market in North America is expected to grow from US$ 10,236.8 million in 2021 to US$ 14,064.1 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. Private and Public financial incentives are affiliated as never before to encourage physicians to adopt EHR. To help in the transition, the government has also put billions into training health information technology workers and establishing regional extension centers to provide technical and other advice. For instance, in 2009, as part of the Health Information Technology for Economic and Clinical Health (HITECH) Act, the federal government set aside US$ 27 billion for an incentive program that inspires hospitals and providers to implement electronic health records systems. In addition, billions more were assigned to help train health information technology (HIT) workers and assist hospitals and providers in setting up EHRs that would enable the health data historically confiscated in paper files to be shared among providers and used to improve health care quality.
The Medicare Electronic Health Record Incentive Program is governed by the Centers for Medicare & Medicaid Services (CMS).At the same time, the Medicaid EHR Incentive Program is managed by the state Medicaid agencies.

The Medicare and Medicaid EHR Incentive Programs offer incentives to physicians, hospitals, and other health care facilities for meaningful use of certified EHR technology in the US.An eligible professional or hospital can receive a maximum incentive amount of up to US$ 44,000 through the Medicare EHR Incentive Program and up to US$ 63,750 through the Medicaid EHR Incentive Program.

This incentive program succeeded in encouraging many health care facilities to adopt EHR systems.
The market for electronic health record (EHR) market is segmented into installation type, type, and end user.Based on installation type, the electronic health record (EHR) market is segmented cloud-based and on-premise.

In 2020, cloud-based segment accounted for a larger share of the market.Cloud-based solutions are cost-effective as cloud computing reduces the cost of managing and maintaining your IT systems.

Cloud-based EHR offers flexibility and allows the user to access the data from any place.Also, developments by market players in this segment are likely to enhance the growth of the segment.

For instance, in July 2020, Cerner launched a cloud-based EHR platform, CommunityWorks Foundations, which aims at reducing the costs of traditional EHR systems in rural and Critical Access Hospitals.
North American region is highly affected due to the outbreak of the COVID-19 pandemic.Countries such as the US and Canada reported the highest numbers of COVID-19 positive cases.

The US-registered highest number of deaths due to the COVID-19 pandemic.The chaotic situation was created in the medical industry across the countries, increased demand for COVID diagnostics and therapeutics have dramatically increased in the hospitals.

According to the Epic Health Research Network report of electronic health records, the average weekly screenings for breast, colon, and cervical cancers decreased by 94%, 86%, and 94% during January 20 – April 21, 2020 relative to the averages before January 20, 2020.Further IQVIA analysis concluded that oncology visits for newly diagnosed cancer patients began to increase in summer but had still not reached baseline in October.

If oncology cases are missed or patients are diagnosed at end stages, it could result in long-term impacts on both health outcomes and costs. Similar patterns were observed for other serious and chronic diseases. The continued decrease in health services utilization, including preventive services, may result in more serious diagnoses and increased disease burden in the future. Therefore, it expected that the market for the electronic health record (EHR) would witness growth during the forecast period.
The overall North America electronic health record (EHR) market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the North America electronic health record (EHR) market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America Electronic health record (EHR) market. Cerner Corporation, COMPUTER PROGRAMS AND SYSTEMS, INC., Allscripts Healthcare Solutions, Inc., McKesson Corporation, Epic Systems Corporation., NextGen Healthcare, eClinicalWorks, Greenway Health, AdvancedMD, Inc., and CureMD Healthcare are among a few players operating in the North America Electronic health record (EHR) market.

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