BIRMINGHAM, England--(BUSINESS WIRE)-- Caduceus Software Systems Corp. (OTCBB: CSOC) - (The Company) announced that information obtained from a new IDC Health Report shows that ambulatory Electronic Health Records (EHRs) will grow significantly in the next several years. The report anticipates a conversion rate increase for mid-sized and large practices from less than 25 percent in 2009 to more than 80 percent by 2016.
In the report “IDC MarketScape: U.S. Ambulatory EMR/EHR for 2011 Vendor Assessment,” it shows how fast this industry is growing as it takes a look at 10 electronic health record programs which are targeting the mid-sized and large practices seeking for the benefits that these programs offer. As a provider of EHR software, Caduceus is positioned to be part of this growth.
Caduceus’ CEO Derrick Gidden comments: “Our EHR technology platform and road map is designed to take advantage of a market opportunity in excess of $3B as reported by CaspSite, which is a healthcare technology research and advisory firm.”
The anticipated growth is fuelled primarily by government incentives, according to IDC, but additional trends include the quality of care improvements that result from using EHRs in ambulatory practices, their growing capabilities and use of cloud computing, the use of mobile devices in ambulatory practices, and the consolidation of provider vendors as market saturation increases.
Judy Hanover, IDC Health Insights research director, states: “To meet all of the challenges of EMR/EHR adoption and get to meaningful use while preparing for healthcare reform, it is clear that ambulatory providers need integrated EMR/EHR solutions that address not only the total cost of ownership for the technology but also the infrastructure, workflow, and human factor issues associated with the new technologies. There is no one-size-fits-all solution for EMR/EHR, and each application should be evaluated on the basis of its unique characteristics and fit with a particular practice.” With the scalability of the Caduceus EHR software, it will allow the Company the ability to market to both big and small practices.
Caduceus Software Systems Corp. (www.caduceusco.com) is a software company that specializes in developing an all-in-one solution for private practitioners and doctors. We are in the healthcare information management industry. We are headquartered in the United Kingdom, specifically located in the metropolitan city of Birmingham. Our company was created as we saw an urgent need for better patient care throughout the world. General practitioners are using unsophisticated software which acts as more administrative than acting as a time saving tool. We are called Caduceus, which is the well-known insignia used by medical professionals.
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All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding: Caduceus Software Systems Inc. products, services, capabilities, performance, opportunities, development and business outlook, guidance on our future financial results and other projections or measures of our future performance; the amount and timing of the benefits expected from strategic initiatives and acquisitions or from deployment of new or updated technologies, products, services or applications; and other potential sources of additional revenue. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing Caduceus Software Systems Inc. products and services, ability to deploy Caduceus Software Systems Inc. services and products, market acceptance of our products and services; operational difficulties relating to combining acquired companies and businesses; our ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet, information technology and healthcare and pharmaceutical industries, and our ability to attract and retain qualified personnel. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements.
Derrick Gidden, 1-855-391-2615
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INDUSTRY KEYWORDS: Technology Software Practice Management Health General Health