Transcript of "EMR 2011: The Market for Electronic Medical Record Systems"
Get more info on this report!EMR 2011: The Market for Electronic Medical Record SystemsMarch 1, 2011For several years Kalorama Information has been studying the trend of electronicmedical records (EMR) and electronic health records (EHR). What was already a fast-growing market dramatically changed in 2009 when as part of the ARRA stimulus law,the US Government provided incentives for physicians and hospitals to use systems.Those incentives have now been clarified and in 2011, the first checks have beenissued. What will be the impact of those incentives, as well as vendor actions, and whatwill happen in this market in the years to come?This report, EMR 2011 , Kaloramas most recent look at the market and trendsimpacting electronic medical record software and related services, seeks to answer thatquestion and provide crucial data for business planning. Included in the report arestatistics influencing the industry, demographics; life expectancy, and companystrategies. Information is presented as a U.S. market, with a section on key internationalmarkets. A market summary includes a total market analysis. Also included is acompetitive analysis of leading EMR system providers.The report includes: Current Market for EMR and Forecast Hospital and Physician EMR Adoption Statistics Pricing of Select EMR Systems ROI for Physicians Profiles of Major Vendors Mergers and Acquisitions Current Vendors with CCHIT Qualification Summary of Third-Party EMR User Survey Results Analyst Conclusions Regarding the EMR MarketThe information for this report was gathered using both primary and secondary researchincluding comprehensive research of secondary sources such as company literature,
databases, investment reports, and medical and business journals. Telephoneinterviews and email correspondence were the primary method of gathering information.Among the trend impacting the marketplace are the following: Meaningful Use Stimulus Guarantee Challenges to Healthcare Reform Cloud Computing Stark Law Discreet Recordable Transcription Regional Extension Centers Personnel Issues Security Breaches/Portable Devices Doctor’s Surveys Interoperability Smart Cards Technology Wireless Technologies Open Source EMR Applications Usability And Adoption Physician Group Practices And the Recession Quality of Care/Malpractice/Security Cost-Benefit Analysis ROI For a Typical Physician Practice Implementation Costs and ROI for Hospitals Privacy Issues Technology Limitations Social and Organizational Barriers CCHIT NHIN Results of WalMart and Dell Launches Direct PPC Offerings International MarketsFor the purpose of this study, Kalorama Information conducted interviews with morethan 22 key industry officials, consultants, health care providers, and governmentpersonnel. These sources were the primary basis in gathering information specificallyrelating to revenue and market share data presented in this report. Additional interviewswere completed with relevant company representatives including marketing directors,division managers, and product representatives.As part of its coverage, the following companies are profiled in this report: Allscripts Healthcare Solutions Aprima Medical Software, Inc Cerner Corporation
Computer Programs and Systems, Inc. eClinicalworks Epic Systems, Inc. GE Healthcare Medical Information Technology, Inc. (MEDITECH, Inc.) MedPlus, Inc. McKesson Corporation NextGen Healthcare Information Systems/QSI Practice Fusion Quadramed Corporation Siemens Medical Solutions Other select EMR companies are profiled in brief...All market data pertains to the world market at the manufacturers’ level. The base yearfor data was 2010. Historical data was provided for the years 2008 and 2009, withforecast data provided for 2010 through 2015. Compound annual growth rates (CAGRs)are provided for the 2008-2010 and 2011-2015 periods for each region and/or segmentcovered. Competitive analysis is provided for the year 2010. The forecasted marketanalysis for 2011-2015 was largely based on demographic trends, new developments,company performance trends, merger and acquisitions, and national expansion.Additional Informationcenter>EMR Market Grew in 2010, Despite Confusion Over Meaningful UseDespite some slower than expected growth in EMR system sales due to confusion overvendor qualifications and federal guidelines, the EMR market grew in 2010 and it shouldsee its best years ahead, according to research from Kalorama Information. Thehealthcare market research publishers latest report, EMR 2011: The Market forElectronic Medical Record Systems, values the market for EMR at $15.7 billion in2010.According to the report, the growth rate of 10% in 2009 and 13.6% in 2010 was a littleslower than anticipated (Kalorama had predicted 15% growth for both years), the resultof some hesitation on the part of physicians confused about meaningful use guidelines.But despite the slower rate of growth, considerable growth did occur. Physicianadoption has improved and incentive checks have been issued. Survey results showphysician usage of EMR near 50%, and Kalorama Information believes adoption andupgrading activities will be brisk in coming years. As new systems are sold, companieswill still earn revenues from existing clients in servicing and consulting. Kaloramaexpects over 18-20% market growth for the next two years.
"We think that while progress was made in physician adoption and in vendor sales,there is still a lot more potential," said Bruce Carlson, publisher of Kalorama Information."There are still a considerable number of physicians who need to be fully functional andhospitals that have to improve their stage ranking."The report includes revenues for EMR and CPOE systems, and also directly relatedservices, such as installation, training, and consulting, which are often the key profitareas for companies. Kaloramas forecast assumes that EMR usage will continue toincrease, as hospital EMR adoption will encourage physician adoption, current EMRStage 3 hospitals will purchase more advanced systems and current EMR owners willupgrade. Most importantly, however, Kalorama believes that the threat of penalties in2015--reduced CMS payments for those that do not engage in meaningful use ofelectronic record--will force doctors and hospitals to make upgrade decisions."The stick is stronger than the carrot when it comes to the ARRA incentive-penaltyequation," said Carlson. "We continue to believe that and we think its the industrysconsensus as well. While the policy already picked up those oriented towardstechnology, the penalties will force conversion and upgrading in the future. And thosedecisions will happen in the next two years, before the penalties kick in."More information on key companies in EMR, the pricing of products, physician andhospital adoption statistics and important conclusions about the market can be found inEMR 2011: The Market for Electronic Medical Record Systems. The report providesa breakout between the hospital and physician/web market and is the result of researchinto company publications and interviews with industry personnel. For more information,please visit: http://www.kaloramainformation.com/EMR-Electronic-Medical-6164654/.Table of ContentsCHAPTER ONE: EXECUTIVE SUMMARY Industry at a Glance Scope and Methodology Physician Use of EMR Percentage and Increase of Physician Usage of EMR Percentage EMR Usage, 2006-2010 A Deeper Look at Physician Usage Statistics Trend in Adoption Rate of EMR, 2007-2010 Analysis of Physician EMR Use Numbers (Basic/Some Use vs. Fully Functional) Status of Paperless Medicine Hospital Use of EMR Size and Growth of the Market Key Issues and Trends Affecting the Market Leading Market Participants
ConclusionsCHAPTER TWO: INDUSTRY OVERVIEW Introduction The Medical Record The Electronic Medical Record Industry Terminology Industry Structure Physician Adoption of EMRs 2006-2010 Advantages Increased Access and Efficiency Improved Documentation Quality of Care Increased Resources Quality Assurance Eliminates Costs Disadvantages Reliability Accountability Patient Privacy EMR Software Hardware Requirements Components of an EMR Administrative System Components Laboratory System Components Radiology System Components Pharmacy System Components Computerized Physician Order Entry Clinical Documentation Flow of Patient Data across Various Components Pricing of EMRs US EMR Adoption ModelCHAPTER THREE: EMERGING TRENDS Meaningful Use Economic Stimulus Package Stimulus Guarantee Challenges to Healthcare Reform Cloud Computing Mergers and Acquisitions Stark Law Discreet Recordable Transcription Regional Extension Centers Personnel Issues Security Breaches/Portable Devices National Physician Education Program The Personal Health Record System Doctor’s Surveys -AAFP, ACP, Medscape
Interoperability Dimensions of Interoperability Benefits Smart Cards Technology Wireless Technologies Open Source EMR Applications Benefits of Open Source EMR Applications Adoption Issues Usability And Adoption Physician Group Practices And the Recession Quality of Care/Malpractice/Security Cost-Benefit Analysis ROI For a Typical Physician Practice Implementation Costs and ROI for Hospitals Summary Privacy Issues Technology Limitations Social and Organizational Barriers CCHIT NHIN Results of WalMart and Dell Launches PPC Direct OfferingsInternational Markets and Trends Europe Asia, and Other EMR Markets The US MarketCHAPTER FOUR: LEADING MARKET PARTICIPANTS Allscripts Healthcare Solutions Aprima Medical Software, Inc Cerner Corporation Computer Programs and Systems, Inc. eClinicalworks Epic Systems, Inc. GE Healthcare Medical Information Technology, Inc. (MEDITECH, Inc.) MedPlus, Inc. McKesson Corporation NextGen Healthcare Information Systems/QSI Practice fusion Quadramed Corporation Siemens Medical SolutionsCHAPTER FIVE: COMPANIES IN BRIEF Abraxas Medical Solutions Amazing Charts Athenahealth BizMatics ChartLogic CureMD
e-MDs Dr First/Rcop Healthland Henry Schein Keane LLS Data Systems Medsphere Systems MeridianEMR, Inc Nightingale Infomatix Sage North America, Inc Sequel Systems, Inc SoapWare, Inc StreamLine MD SuiteMed Waiting Room Solutions Web PTCHAPTER SIX: MARKET ANALYSIS Market Overview Market by Segment Competitive AnalysisCHAPTER SEVEN: CONCLUSIONS Overview Conclusion One Conclusion Two Conclusion Three Conclusion Four Conclusion Five Conclusion Six Conclusion Seven Conclusion Eight Conclusion Nine Conclusion Ten Conclusion ElevenAPPENDIX I - DEFINITION OF INDUSTRY PRODUCTSAPPENDIX II - LIST OF SELECT MAJOR COMPANIESAvailable immediately for Online Download athttp://www.marketresearch.com/product/display.asp?productid=6164654US: 800.298.5699
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