The global electronic health record software market is expected to exhibit strong growth, reaching USD 47.2 billion by 2028. As per the report titled “Electronic health record software Market Size, Share & COVID-19 Impact Analysis, By Type (Ambulatory, Acute and Post-Acute), By Product (Web Based and Client-Server Based), By End-User (Hospital, Ambulatory, Physicians Clinic, Pharmacy and Laboratories) and Regional Forecasts, 2022-2028″ observes that the market size in 2021 stood at USD 30.6 billion and USD 47.2 billion in 2028. The market is expected to exhibit a CAGR of 7.50% during the forecast period.
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Visionflex Recently Announced New Partnership with an Australian Provider of Cloud-Based EHR MediRecords
With MediRecords, an Australian company that offers cloud-based electronic medical records and practice management systems, Visionflex has entered a new partnership. The firms will cooperate to integrate the cloud-based practice management and electronic health record software platforms from MediRecords with Visionflex's Vision video conferencing platform.
Electronic Health Record Software Technological Breakthroughs are Fueling Industry Expansion
During the projected period, market growth is anticipated to be driven by technological advancements in the electronic health record software sector. Software derived from artificial intelligence seamlessly integrates and offers options with a variety of characteristics. Machine learning and natural language processing can be aided by documenting a patient's medical experience, searching through huge databases for crucial records, and gauging patient satisfaction. Healthcare providers who use speech-to-text recognition systems can benefit from the combination of machine learning mode and NLP.
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EHR Software's High Cost is Limiting the Market
On-premise solutions' and EHR services' high maintenance costs could stifle the market's expansion in the years to come. Concerning electronic medical records, there are numerous privacy and security concerns (EMR). Therefore, it is anticipated that the market for electronic medical records (EMR) will be constrained by worries about patient privacy and safety, as well as the number of security breaches, the maintenance costs of on-premise solutions, and costly installation.
Major Players Develop Acquisition Plans to Boost Brand Image
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List of Key Players Profiled in the Report
- Allscripts Healthcare, LLC
- GE Healthcare
- Cerner Corporation
- Epic Systems Corporation
- McKesson Corporation
- NextGen Healthcare, Inc.
- CureMD Healthcare
- Medical Information Technology, Inc.
- AdvancedMD, Inc.
- Greenway Health, LLC
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