Establishing Cognizant In EMR Market

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Market Research & Analysis Study Report on Establishing in EMR Market

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Establishing Cognizant In EMR Market

  1. 1. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. Establishing Cognizant in EMR Market Space Gopalakrishnan.R (121258) The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  2. 2. © 2006, Cognizant Technology Table of Contents 1. EMR 1. EMR vs EHR: Definition 2. Terminologies Used In Industry 3. Why EMR? The Need and Demand For 4. Functional Requirements of an EMR 5. Advantages of EMR 1. Clinical Benefits 2. Financial Benefits 6. EMR Environment 2. Market Overview 1. Market Size 2. EMR Adoption Model 3. Adoption Scenario 4. Projected Benefits of EMR Adoption
  3. 3. © 2006, Cognizant Technology Table of Contents (cont.) 5. Drivers and Inhibitors 6. Implementation Costs and ROI 1. Hospitals (Case Study) 5. EMR Adoption - Summary 3. Competitive Landscape 1. Major Vendors 2. Vendor Rating 3. Key Regulations and Certifications 1. HIPAA 2. Code of Federal Regulations (CFR) - Part 11 3. Key Certifications - CCHIT 3. Conclusions & Outlook 4. US President Bush Vision 5. Vision & Roadmap for Cognizant
  4. 4. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. EMR The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  5. 5. © 2006, Cognizant Technology EMR vs EHR: Definition © 2006 HIMSS AnalyticsTM http://www.himssanalytics.org/docs/WP_EMR_EHR.pdf
  6. 6. © 2006, Cognizant Technology Terminologies used in the Industry  CDO – Care Delivery Organization  CDR – Clinical Data Repository  CMV – Controlled Medical Vocabulary  CDSS – Clinical Decision Support System  CPOE – Computerized Provider Order Entry  CHI - Consolidated Health Informatics initiative  CFR - Code of Federal Regulations  CMS - Centers for Medicare and Medicaid Services  CCHIT - Certification Commission for Healthcare Information Technology  DICOM – Digital Imaging and Communication in Medicine  EHR – Electronic Health Record  eMAR – Electronic Medical Administration Record  EMPI - Enterprise Master Person Index  eRex - Electronic Prescribing  FHA - Federal Health Architecture  HIPPA - Health Insurance Portability and Accountability Act of 1996  HHS - Department of Health and Human Services  HIT - Health Information Technology
  7. 7. © 2006, Cognizant Technology Terminologies used in the Industry (Cont.)  HIMSS - The Healthcare Information and Management Systems Society  HL7 - Health Level Seven  IOM - Institute of Medicine  LIS - Laboratory Information Systems  NHIN - National Health Information Network  NHII - National Health Information Infrastructure  NIH - National Institutes of Health  PACS – Picture Archiving and Communication Systems  ONCHIT - Office of the National Coordinator for  PIS - Pharmacy Information Systems  PHR - Personal Health Record  RHIO - Regional Health Information Organization  VA - Department of Veterans Affairs  VHA - Veterans Health Administration  VHA’s EHR - Veterans Health Administration’s Electronic Healthcare Record  VistA - Veterans Health Information Systems and Technology  Architecture
  8. 8. © 2006, Cognizant Technology Why an EMR? The need and Demand for:  Timely, accurate health data  Rapid sorting of available information » Patient-specific data » Knowledge bases, decision support tools  Information at the point of care  Managing patient services  Tracking costs and value  Assessing provider performance  Information for research, public health  Communicating across distances  Monitoring patient conditions remotely http://www.emr.msu.edu/Documents/ppt/Why%20Use%20an%20EMR_files/frame.htm
  9. 9. © 2006, Cognizant Technology Functional Requirements  A detailed list of EMR Requirements are captured in the following link for reference. http://www.vch.ca/professionals/docs/phcn/clinical_emr_requirements.pdf
  10. 10. © 2006, Cognizant Technology Advantages of EMR Clinical Benefits  Improved Clinical Decision Making » Decision Support Features » Adverse Drug Event Avoidance » Health Maintenance Reminders » Access to a More Complete Patient Record  Enhanced Documentation » Improved Accuracy » Improved Legibility » Improved Completeness » Improved Security
  11. 11. © 2006, Cognizant Technology Advantages of EMR (cont.) » Tailored Patient Education » Advanced Reporting Capabilities  Better Patient Care » Greatest Benefits » Web Consultation Financial Benefits » Increased productivity » Increased revenue » Avoidance of costs » Increased profit http://www.emrexperts.com/emr-ebook/
  12. 12. © 2006, Cognizant Technology EMR Environment © 2006 HIMSS AnalyticsTM http://www.himssanalytics.org/docs/WP_EMR_EHR.pdf
  13. 13. © 2006, Cognizant Technology EMR Environment (contd)  CDR - A real-time transaction- processing database of clinical patient information.  CMV - Normalizes data from a relational and definitional hierarchy, enabling other components of the EMR to operate optimally. © 2006 HIMSS AnalyticsTM http://www.himssanalytics.org/docs/WP_EMR_EHR.pdf
  14. 14. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. Market Overview The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  15. 15. © 2006, Cognizant Technology Market Size  Market Size : » “The 1.2 billion-dollar market for EMR is expected to grow nearly 400% in the next eight years^” » “… electronic health records in the United States is poised to grow at a rate of 13.5 percent over the next four years, and by 2015 it will top $4.85 billion… *” ^ - http://www.kaloramainformation.com/EMR-Technologies-1365762/ * - http://www.healthcareitnews.com/printStory.cms?id=6332
  16. 16. © 2006, Cognizant Technology Market Adoption - EMR Adoption Model © 2006 HIMSS AnalyticsTM http://www.himssanalytics.org/docs/WP_EMR_EHR.pdf
  17. 17. © 2006, Cognizant Technology Market Adoption - Adoption Scenario © 2006 HIMSS AnalyticsTM http://www.himssanalytics.org/docs/WP_EMR_EHR.pdf  Profiles of Progress – State Health IT Initiatives :http://www.nascio.org/publications/documents/NASCIO-ProfilesOfProgress.pdf
  18. 18. © 2006, Cognizant Technology Market Adoption : Projected Benefits of EMR Adoption
  19. 19. © 2006, Cognizant Technology Market Adoption : Projected Benefits of EMR Adoption (contd)
  20. 20. © 2006, Cognizant Technology Drivers and Inhibitors Drivers  Clinical Benefits » Practices want improved clinical procedures » Higher quality documentation » Patient education » Reminders and protocols » Management of medications » Signing of charts » Callbacks and telephone tri-age  Financial Drivers » All practices look for cost reduction » Reduced transcription costs http://findarticles.com/p/articles/mi_m0DUD/is_5_22/ai_74571489
  21. 21. © 2006, Cognizant Technology Drivers and Inhibitors (Contd.)  Administrative Gains » Decreased chart pulls and less filing » Fewer lost charts » Improved communication » Chart requests and audits Inhibitors  Cost  Security and Privacy Issues  Acceptance and Testing  Infrastructure and development  Technical Issues http:www.fastercures.org/pdf/emr_whitepaper.pdf
  22. 22. © 2006, Cognizant Technology Implementation Costs & ROI  Adoption costs for hospitals : “…the cumulative cost for 90 percent of hospitals to adopt an EMR system is $98 billion if 20 percent of hospitals now have such a system. Average yearly costs for the fifteen-year adoption period are $6.5 billion—about one-fifth of our earlier-described estimate of potential efficiency savings in hospitals.”  Adoption costs for physicians : “….the cumulative costs to reach 90 percent adoption are $17.2 billion, almost equally split between one-time costs and maintenance costs. The average yearly cost during the adoption period is about $1.1 billion.” http://content.healthaffairs.org/cgi/content/full/24/5/1103#SEC8
  23. 23. © 2006, Cognizant Technology Implementation Costs & ROI (Contd)  Hospitals » Case Study : • Capital Region Healthcare: Cost and Quality Benefits - The following link for reference. • www.providersedge.com/ehdocs/ehr_articles/Capital_Region_Healthcare- Cost_and_Quality_Benefits.pdf
  24. 24. © 2006, Cognizant Technology EMR Adoption - Summary  The adoption of interoperable EMR systems could produce efficiency and safety savings of $142–$371 billion. http://content.healthaffairs.org/cgi/content/full/24/5/1103#SEC8
  25. 25. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. Competitive Landscape The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  26. 26. © 2006, Cognizant Technology Major Vendors  Cerner  COMPUTER PROGRAMS AND SYSTEMS, INC.  Eclipsys Corporation  Epic Systems Corporation  GE Healthcare  McKesson Corporation  Medical Information Technology, Inc. (MEDITECH)  MedPlus  Quadramed Corporation  Siemens Medical Solutions http://www.kaloramainformation.com/prod-toc/EMR-Technologies-1365762/
  27. 27. © 2006, Cognizant Technology Vendor Rating  The following link provides an “Extensive Evaluation Ranking Top Electronic Medical Record Applications” http://www.providersedge.com/ehdocs/ehr_articles/2004_EMR_Survey_Summary_Report.pdf
  28. 28. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. Key Regulations and Certifications The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  29. 29. © 2006, Cognizant Technology Key Regulations and Certifications  HIPAA  Code of Federal Regulations (CFR) - Part 11  Key Certifications » The Certification Commission for Healthcare Information Technology http://www.kaloramainformation.com/prod-toc/EMR-Technologies-1365762/
  30. 30. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. Conclusions & Outlook The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  31. 31. © 2006, Cognizant Technology Conclusions & Outlook  EMRs Why their Time has come http://www.providersedge.com/ehdocs/ehr_articles/EMRs-Why_Their_Time_Has_Come.pdf  EMR is necessity  US is market leader  Office-Based Physicians are in Growth Area  EMR costs will be reduced  EMR software is defined by Applications  There is large market for vendors  EMR is a budget priority for Healthcare Companies  HIPPA to drive EMR growth http://www.kaloramainformation.com/prod-toc/EMR-Technologies-1365762/
  32. 32. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. US President Bush Vision The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  33. 33. © 2006, Cognizant Technology US President Bush Vision  "We will make wider use of electronic records and other health information technology to help control costs and reduce dangerous medical errors." -- President Bush, January 31, 2006 http://www.whitehouse.gov/stateoftheunion/2006/
  34. 34. © 2006, Cognizant Technology Solutions. All Rights Reserved. The information contained herein is subject to change without notice. Vision & Roadmap for Cognizant The U.S. Market for EMR Technologies 18 June 2007 Disclaimer : Information presented in this presentation are meant to be informative and not a final authority
  35. 35. © 2006, Cognizant Technology Vision & Roadmap for Cognizant  Market Pulse » Build Strong Analyst Relationship  Branding » Sponsoring Major Healthcare Conferences like HIMSS / AHIP / NMHCC / RSNA  Building DCG » Partner with Medical Academic Research Institutions » Incubate COM (Cognizant Institute of Medicine) building niche Domain / Technical Competencies  Increasing Value Propositions : Six Sigma  Striking Deals » Partner with Lead EMR Vendors : Off shoring / Outsourcing Product Development & Maintenance
  36. 36. © 2006, Cognizant Technology Vision & Roadmap for Cognizant  Evolving as an mature EMR ISV ? (2-3 yrs) » Achieving Delivery Excellence through Innovation and competitiveness » Presenting / Publishing Technical, Solutions Paper in Summits  Building EHR Competences to spearhead in HIT Space? (3-4 yrs)  Reaching Top 10 Global HIT Services Company? (5-6 yrs) “As we look ahead, there will be no shortage of challenges. In spite of few barriers, it is high time for Cognizant, to reach further milestones by exhaustively understanding EMR market and taking complete advantage of the opportunity market is offering”
  37. 37. © 2006, Cognizant Technology “The more intensely we feel about an idea or a goal, the more assuredly the idea, buried deep in our subconscious, will direct us along the path to its fulfillment.” Earl Nightingale (US motivational writer and author, 1921-1989) Passion
  38. 38. © 2006, Cognizant Technology Thank you

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