EHR and EMR Adoption Rates. Health, Medicine, Nursing Essay

EHR and EMR Adoption Rates
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EHR and EMR Adoption Rates
Electronic Medical Records are an important tool that has played a major role in improving patient outcomes. However, the limited adoption of technology by physicians is a worrying trend that threatens its implementation. Despite the government efforts through incentives to motivate physicians to adopt it, the reception is still low and discouraging. Nishi Sharma reviews the adoption of the HER and the EMR by physicians in terms of the market size, share, growth, trend, development, major players, and forecast for the next seven years.
EHR and EMR continue to penetrate the world gradually, as most health service providers adopt the technology. According to Sharma (2020), the global adoption of these technologies is the Compound Annual Growth Rate (CAGR) – 6% in the 2018-2027 forecast. The fastest growth rate was seen in the software component segment; whose estimated record valuation was -$26 billion by the end of 2027. Besides, the segment of on-premises delivery is based on the largest market of -55% in the global marketplace in 2018 (Sharma, 2020). The above figures show that EHRs and EMRs have received a positive reception and continue to grow, albeit at a slow pace.
Several players are involved in the research and development of the global EHR and EMR. Some of these players include quality systems Inc., AdvancedMD, eClinicalWorks, Athenahealth Inc., GE Healthcare, Greenway Health LLC, Advanced Data Systems Corporation, Cantata Health LLC, Cerner Corporation, and MEDHOST among others (Sharma, 2020). Each of these players is adopting different competitive strategies to maintain its market share on a global scale.
The EHR and EMR sector is categorized according to the different market segments that include component, application, mode of delivery, and the end-user. These main market segments are further divided into smaller sub-segments to study better and understand the market detail. The different component segmen...