The global EHR market is expected to grow "significantly" from $10.6 billion in 2012 to $17 billion by 2017, at a compounded annual growth rate (CAGR) of 9.8 percent, according to the latest report from research and consulting firm GlobalData.
The report reveals that McKesson is the market leader with health IT software and services revenue at $3.3 billion. Cerner and Allscripts follow, with revenue at $2.6 billion and $1.4 billion, respectively.
EMR vendors also are offering revenue cycle management so that providers can use the same platform for clinical and financial information, according to an announcement.
The report predicts that the market will achieve greater profitability and efficiency, and attributes the growth in large part to the Meaningful Use Incentive program. The program has paid out more than $19 billion in incentive payments to providers since its inception.
This report is almost as robust as a similar one on wireless EHRs, which expects the market to grow to nearly $23.5 billion by 2018. It also mirrors to some extent a new report from the government, which found that 93 percent of eligible hospitals and 82 percent of eligible professionals have registered to participate in the Meaningful Use program, which would certainly ramp up sales.
However, it does not address how satisfied users are with their systems and whether some of this market growth is attributable to providers switching systems.
To learn more:
- access the report (purchase required)
- read the accompanying announcement