The ambulatory EHR market is expected to expand by 30 percent during the next five years, increasing at a compound annual growth rate of 5.3 percent until 2020, according to analysis from Frost & Sullivan. The report, US Ambulatory Electronic Health Record Market: 2015–2020 analyzes the ambulatory EHR market and identifies what to expect as the focus shifts from adoption to optimization in the market.
Overall, the overarching objective for providers is to position their EHR as a potential population health management (PHM) enabler.
Key Triggers for EHR Adoption
The report finds providers prefer advanced EHR features that do the following:
– Automate data entry
– Drive patient engagement
– Ensure clinical information interoperability
– Support clinical decisions
– Execute billing management and complement data analytics
Key Market Drivers and Restraints
The key drivers and restraints for the US ambulatory EHR market include the following:
Drivers
1. Digitization of healthcare delivery because of increasing demand drives the need for EHR implementation.
2. VBR provisions have mandated rapid EHR adoption across the ambulatory market.
3. Provider consolidation propensity accelerates EHR replacement growth.
4. Increasing demand of healthcare services, coupled with a projected supply shortfall, will yield the need for efficient EHR platforms.
Restraints
1. Technological, regulatory, and operational uncertainties restrict the US ambulatory EHR market to attain its maximum revenue potential.
2. Evolving regulations impose advanced technical guidelines with which many practices fail to comply, resulting in lower MU attestation.
3. Ambulatory physicians’ inadequate HCIT investment capability restricts the potential growth of the EHR market.
4. Data security concerns persist, and probable consequences hinder EHR adoption growth.
Other key findings of the report include:
– Increasing cost pressures have compelled providers to switch to subscription-based cloud EHR that proposes integrated operability, which is ideal for small-to-medium ambulatory practices.
– EHR interoperability has remained a working ground as CMS strongly advocates its benefits and existing infrastructure fail to achieve the required level of care coordination. Additionally, prominent vendors tend to quote outrageous fees to share clinical data.
– Increasing cost pressures have compelled providers to switch to subscription-based cloud EHR that proposes integrated operability, which is ideal for small-to-medium ambulatory practices.
– Existing cloud-based EHRs are attracting huge investment, and traditional (on-premise) providers are restructuring to build their cloud-based EHR capability.
– Solo/partner practices will be the fastest growing segment in terms of EHR penetration.
– Large practices will be the highest EHR revenue contributor followed by small-to-medium practices
