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Undeniable Benefits of EMR Solutions
Continue to Drive Growth of European EMR Markets
Improved efficiency and patient safety, better cost containment and the desire
to provide integrated healthcare are some of the major factors driving the
growth of the European electronic medical record (EMR) markets. EMR offers
healthcare providers the opportunity to better manage patient data, create
reports and work in an integrated manner, resulting in reduced costs and
superior care delivery.
New analysis from Frost & Sullivan (http://healthcareandlifesciencesIT.frost.com),
European Electronic Medical Records Markets, reveals that these markets earned
revenues of $349.6 million in 2006 and estimates this to reach $1.15 billion in
2013.
If you are interested in a virtual brochure, which
provides manufacturers, end users and other industry participants with an
overview of the latest analysis of European Electronic Medical Records Markets,
then send an e-mail to Radhika Menon Theodore, Corporate Communications, at
rmtheodore@frost.com with your full
name, company name, title, telephone number, fax number and e-mail address. Upon
receipt of the above information, an overview will be sent to you by e-mail.
"Having accurate patient data plays a vital role in
treating patients effectively, but this has always depended on maintaining
comprehensive records of patients' encounters with the medical system," remarks
Frost & Sullivan Senior Research Analyst Kiran John. "EMR provides healthcare
professionals and nursing and administrative staff instant access to the right
information from multiple points, and EMR data can be sourced, accessed, edited,
appended and maintained effortlessly."
The cost savings potential of EMR in both primary
and hospital care is perhaps the most compelling factor driving its uptake,
given that cost containment is a top priority for governments and providers
alike. The time and costs associated with basic but essential activities such as
creating and storing charts and employing adequate nursing and administrative
staff for these purposes can be reduced significantly by adopting an EMR system.
However, considering the highly fragmented nature of
the European EMR markets owing to Europe's innate diversity and the varying
levels of penetration of healthcare information technology (HIT), healthcare
authorities are undertaking a standardisation drive in an attempt to provide
better care delivery. Vendors with a European presence are particularly
affected, as they need to customise or even re-invent their products and price
them differently.
This has raised the question of creating unique
patient identities, which many believe is critical to create a strong foundation
on which EMR can be rolled out. There has been an ongoing debate about this
issue and whether certification is really required for EMR solutions, and the
answer will have a direct bearing on both technology adoption and solution
creation.
"The need for unique patient identities is critical
to the growth of any patient-centric healthcare information system but this must
be initiated at a national level, which poses a significant challenge," says Mr.
John. "EMR solutions tend to significantly change the care delivery process, and
this brings added challenges in the form of implementation and change management
issues that implementers, providers, governments and users will need to tackle."
However, the industry is expected to overcome these
challenges as both primary and hospital care providers are fully aware of the
benefits of EMR, which is clearly one of the most anticipated HIT solutions set
to be extensively implemented across Europe. Despite the presence of restraining
factors, there are many compelling drivers boosting the growth of the EMR
markets at an annual rate exceeding 15.0 percent. The market holds an equally
promising future for EMR vendors operating in the primary and hospital care
sectors.
European Electronic Medical Records Markets is part
of the Healthcare and Life Sciences IT Growth partnership Services program,
which also includes research in the following markets: Healthcare IT Platforms,
Patient Administration Systems in Europe, Clinical Decision Support Systems
Markets in Europe, European Patient E-Booking and Healthcare Smart Cards Systems
in Europe. All research included in subscriptions provide detailed market
opportunities and industry trends that have been evaluated following extensive
interviews with market participants. Interviews with the press are available.
Frost & Sullivan, a global growth consulting
company, has been partnering with clients to support the development of
innovative strategies for more than 40 years. The company's industry expertise
integrates growth consulting, growth partnership services, and corporate
management training to identify and develop opportunities. Frost & Sullivan
serves an extensive clientele that includes Global 1000 companies, emerging
companies, and the investment community by providing comprehensive industry
coverage that reflects a unique global perspective and combines ongoing analysis
of markets, technologies, econometrics, and demographics. For more information,
visit http://www.frost.com
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