While the sales growth in electronic medical record (EMR) systems has been slower than anticipated due to confusion over vendor qualifications and federal guidelines, the EMR market did grow in 2010 and it should see much better years ahead, according to a report from Kalorama Information.
The value of the market for EMRs was about $15.7 billion in 2010, according to the New York-based healthcare market research company in its latest report, "EMR 2011: The Market for Electronic Medical Record Systems."
The EMR growth rate in 2010 was 13.6 percent--just above the rate in 2009 (10 percent). These rates were less, though, than predicted by Kalorama researchers (it had predicted about a 15 percent growth for both years). However, the rates may be improving as physician adoption improves and more incentive checks for EMR adoption under meaningful use guidelines are sent out.
Kalorama is predicting that adoption and upgrading activities will be "brisk" in coming years. As new systems are sold, companies will earn revenues from existing clients in servicing and consulting--resulting in a market growth rate of 18 to 20 percent 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, in a statement. "There are still a considerable number of physicians who need to be fully functional and hospitals that have to improve their stage ranking."
For more details:
- see the Kalorama release