(PharmaNewsWire.Com, June 24, 2020 ) Various government initiatives and incentive programs, rising focus on the reduction of fraud & abuse of controlled substances, and increasing focus on reducing medical errors, and the need to curtail escalating healthcare costs are driving the growth of the E Prescribing Market.
The increasing number of collaborations between software vendors and network providers and the vast untapped Asia-Pacific region are expected to provide significant growth opportunities for players in the market. The rising specialty prescribing, growing consolidation in the e-prescribing market, growing demand for cloud-based solution are the key trends in the market.
Recent Developments:
# In September 2016, Cerner Corporation opened Healthe at Cerner Center at its Manyata campus in Bangalore, India. More than 2,200 associates will have access to the state-of-the-art Healthe Clinic, Healthe Fitness Center, and a full suite of health coaching and educational opportunities.
# In September 2016, Cerner Corporation signed an agreement with Sandwell & West Birmingham Hospitals NHS Trust (U.K.) to provide major electronic patient record programs, e-prescribing, clinical support, patient portal, and clinical documentation.
# In August 2016, athenahealth acquired Filament Labs, Inc. (U.S.), a provider of the care coordination platform used by providers to engage patients and caregivers outside the clinic.
# In August 2016, Henry Schein Medical Systems launched Henry Schein MicroMD Version 12 software for office-based medical practitioners. The new software features upgrades designed to help physicians operate more efficient and productive practices.
# In October 2015, DrFirst, Inc. launched myBenefitCheckSM service, which provides real-time, patient-specific information regarding a patient’s prescription, drug benefit coverage, as well as out-ofpocket costs to providers.
In 2015, the web & cloud-based segment accounted for the largest share of the market. The large share of web & cloud-based segment can be attributed to the factor that healthcare organizations are increasingly embracing cloud-based solutions to increase the accessibility to patient records from remote locations and thereby improve workflow efficiency.
In addition, cloud-based solution can be sold on demand and fully managed by the provider; this differentiates it from traditional methods of delivery. Cloud-based services can help healthcare organizations share, integrate information from disparate locations or systems in real time, and generate a database registry. Moreover, it can free up IT staff to focus on more critical tasks, thereby increasing productivity and cost-efficiency of the organization.
Critical questions the report answers:
# Where will all these developments take the industry in the long term?
# What are the upcoming trends for the e-prescribing market?
# Which segment provides the most opportunity for growth?
# Who are the leading vendors operating in this market?
# What are the opportunities for new market entrants?
In 2015, the hospitals segment accounted for the largest share of e-prescribing market. The large share of this segment can be attributed to the high adoption rate of the e-prescribing solutions by hospitals in the U.S. and Europe. In the U.S., the Patient Protection and Affordable Care Act has led to the restructuring of private insurance, Medicare, and Medicaid systems. The CMS incentive program reimburses physicians for using EHR (Electronic Health Records), which is encouraging the adoption of e-prescribing among physicians.
North America to account for the largest market size during the forecast period.
North America is expected to hold the largest market size in the e-prescribing market during the forecast period. The highest market share of North America is due to the stringent legislative and accreditation requirements regarding healthcare, high adoption of HCIT technologies (to reduce soaring healthcare costs), regulatory requirements regarding patient safety, and the presence of a large number of e-prescribing solution providers in the region.
The global e-prescribing market is consolidated in nature with the top five market players accounting for more than 60% of the market. Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Quality Systems, Inc. (U.S.), athenahealth, Inc. (U.S.), Medical Information Technology, Inc. (U.S.), and RelayHealth Corporation (U.S.) lead the global e-prescribing market.
Some of the other leading players in this market include Henry Schein, Inc. (U.S.), Computer Programs and Systems Inc. (U.S.), DrFirst, Inc. (U.S.), Surescripts-RxHub, LLC (U.S.), Change Healthcare Holdings, Inc. (U.S.), Practice Fusion, Inc. (U.S.), GE Healthcare (U.S.), and eClinicalworks (U.S.).
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