The growing use of electronic health records and need for reducing the overall healthcare cost are two of the key factors behind the prosperity of the ambulatory EHR market. In the year 2016, the market generated a revenue of $4.0 billion, and it is predicted to attain a value of $6.0 billion by 2023, progressing at a CAGR of 5.9% during the forecast period (2017–2023).
Ambulatory EHR is a record of a patient’s medical history, which is stored in an electronic database that is accessible by doctors and other medical professionals anytime from anywhere. Based on delivery mode, the ambulatory EHR market is bifurcated into cloud-based and on-premises solutions. Of these, during the historical period (2013–2016), the cloud-based solutions bifurcation led the market in terms of revenue, and it is predicted to continue leading it during the 2017–2023 period. This is attributed to the cost-effectiveness of cloud-based solutions as compared to on-premises solutions.
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As per the data reported by the Office of the National Coordinator for Health IT, a company that implements the usage of electronic exchange of health data and upgraded health information technology, nearly 94.0% of regional extension centers (REC) registered as Priority Primary Care Providers (134,978 providers) had an EHR and were continuously deploying the technology. Further, more than 77.0% of the total REC-enrolled PPCPs (110,107 providers) had showed meaningful use of certified EHR technology (CEHRT) in e-prescribing, clinical quality reporting, and medical reconciliation.
The lack of communication between healthcare professionals and patients adversely impacts the cost and quality of healthcare, leading to the fragmentation of healthcare information, such as medical and diagnosis history, billing and administrative data, patient demographics, and medication schedule. The increasing demand for the availability of a patient’s entire healthcare data in one place is predicted to accelerate the adoption of advanced, integrated healthcare systems during the forecast period, which will continue to aid the ambulatory EHR market progress.
Hence, the reducing overall healthcare cost and rising deployment of EHR solutions are projected to boost the growth of the market.
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