What are Key Factors Powering Surge in Global Ambulatory EHR Industry?

The ambulatory EHR market is registering growth due to the rising usage of EHR solutions, adoption of healthcare intranet technologies (HCIT) and increasing government initiatives, and need for reducing the overall healthcare cost. The electronically stored medical records of patients, which include information about medical care and surgeries that do not require the patient to be admitted in a hospital or non-hospital settings, are called ambulatory EHR.

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In terms of application, the ambulatory EHR market is divided into patient management, referral management, decision support, e-prescribing, practice management, population health management, and health analytics. Among these, the practice management application occupied the largest share of the market during the historical period (2013–2016) and is projected to retain its position during the forecast period. This is due to the several advantages of EHR implementation, such as increased efficiency of day-to-day operations of healthcare practices. E-prescribing is predicted to grow at the fastest pace during the forecast period.

Another factor driving the ambulatory EHR market is the surging need for reducing overall healthcare cost. The shift from traditional data record systems to ambulatory EHR records decreases the cost associated with storing the data. While before the data stored on paper required a lot of care while handling it, now with the introduction of ambulatory EHR, the data can be electronically stored with ease. As per the data published by the University of New Mexico Hospital, the hospital saved over $200,000 annually due to reduced overtime and healthcare cost.

Hence, the market is growing due to the rising need for decreasing overall healthcare cost and increasing adoption of HCIT.

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Ambulatory EHR Market Size, Key Players, Segments Analysis and Forecast to 2023

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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