EHR Market Growth Set to Continue
The United States electronic health records market continues to grow, month after month, thanks to the variety of benefits afforded to both providers and patients. With this type of “win-win” it is only natural for the growth to continue into the future.
According to research firm Kalorama Information, this growth is not about to slow down just because Meaningful Use incentive funds are running short.
Robust Growth in the Next Five Years
It is likely that the medical industry will experience robust EHR growth over the next five years. In fact, Kalorama Information predicts annual market growth of seven to eight percent during this time period.
Financial incentives are always a reason for companies to try new things, such as the implementation of electronic health records. However, other benefits, such as convenience and increased patient safety, will keep this trend moving forward, even when all the incentives are gone.
Right now, the EHR market is valued at approximately $25 billion. According to Kalorama Information, the value of the market will exceed $35 billion by the end of 2019. This includes all aspects of the industry, ranging from revenue for EHR companies to training costs to installation.
There is no stopping (or even slowing down) the electronic health records market in the United States. Growth is expected to continue into the future. The next five years will tell a lot about where the market is heading for good. Most, including Kalorama Information, are ready for a meteoric rise.