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U.S. Electronic Medical Record (EMR) MarketsPublished by: Frost & Sullivan Published: Sep. 1, 2001 Table of Contents 1. Executive Summary 2. Major Characteristics of the Electronic Medical Records Market 3. Hospital Expenditure Dynamics 4. EMR Component Analysis 5. Hospital Demand Analysis 6. Market Engineering Awards List of Figures List of Charts AbstractPromoting Cost Savings of EMR Crucial for Industry SuccessAs hospitals across the country face cutbacks in capital expenditures, EMR providers must emphasize long-term cost savings to win contracts. Nurses and administrators spend much of their time managing the paperwork of patient records, costing facilities hundreds of thousands of dollars a year. While EMR solutions offer hospitals and clinics important time- and cost-saving opportunities, participants must reinforce those advantages to budget-conscious administrators. This Frost & Sullivan research evaluates the potential for electronic medical record markets. It examines trends for major product components, including clinical data repositories, decision support and field analysis software, and enterprise-wide master patient indexes. By analyzing hospital expenditure dynamics and presenting expert revenue forecasts, this study gives its readers an accurate, up-to-date guide to the industry. Overcoming the Challenge of Converting Legacy Data Determines Market Leaders Institutions that commit to electronic record keeping are faced with integrating existing data into their new systems. "The responsibility of migrating legacy dataplatforms often falls on the new system vendor," says the study's author. Most solution providers realize that they must assist with migration to earn customers and build brand loyalty. In some cases, EMR solution providers will need to create a customized feeder data repository that can draw data from legacy systems as well as new systems. "Data migration can take several years to accomplish, placing a heavy burden on EMR companies." This study pinpoints industry challenges and offers strategic recommendations to help your company anticipate and overcome obstacles that may lay ahead. Private Facilities Provide the Greatest Sales Potential "The best opportunities for sales will be found in large, private, urban facilities," says the author. With fewer financial constraints than public facilities and a more affluent inpatient population than rural and suburban institutions, these hospitals are more likely to require and to be able to afford EMR systems.
This study analyzes demand from hospitals in major urban regions across the U.S. It surveys administrative needs and assesses the likelihood of IT purchases. With such a privileged view of market activity, your company will
be poised to capitalize on key opportunities. |
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