EMR Market Exceeds 23 Billion

The global market for electronic medical records EMR was $23.2 billion in 2013. The global market for electronic medical records EMR was $23.2 billion in 2013.

The influence of government incentives and the increasing use of electronic medical records for quality of care and cost-saving reasons continue to drive the market for EMR systems, according to Kalorama Information.

The global market for electronic medical records EMR was $23.2 billion in 2013. The healthcare market research publisher said in its new report: "EMR 2014: The Market for Electronic Medical Records" that upgrading is a factor, in addition to new purchases, helping to build a robust market.

"We think adoption and upgrading activities will still be stimulating growth in 2014-2018," said Mary Ann Crandall, Kalorama analyst and the author of the report. "As new systems are sold, companies will still earn revenues from existing clients in servicing and consulting services."

The forecast assumes the trend of adoption will continue to move forward, although slowing somewhat; hospital EMR adoption will supersede doctors EMR adoption; and current EMR Stage 3 will move up in stages. It is anticipated that current EMR owners will upgrade and train on systems, and that the threat of penalties will force doctors and hospitals to make upgrade decisions. This is the seventh year that Kalorama has studied the market for EMR.

In its total, Kalorama includes revenues for EMR/EHR systems, CPOE systems, and directly related services such as installation, training, servicing, and consulting which are key profit areas for companies. It does not include PACS or hardware. The firm said that now that the EMR market is mature, customers have a great deal of vendor choices; some hospitals and physician customers will boost the market through vendor switches as they seek the right EMR fit for their organization.

"We estimate a quarter to a third of customers would like to switch EMRs and may look into replacing their current vendor," said Mary Ann Crandall. "The main reasons for dissatisfaction with the system they have includes lack of key features, a cumbersome and complex interface, poor EHR usability, and bad hardware. "

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