American providers need clinical analytics and EMR software for value-based care, but there are hospitals abroad that want the same tools for their own quality initiatives. Sadly the high cost of quality EHR systems continues to hinder such progress in developing countries.
U.S. healthcare providers do a lot with their clinical data. Be it tracking patient vitals or staving off healthcare-associated infections, predictive analytics aimed at preventing hospital readmissions have always helped providers in offering the best healthcare to their patients. This also has allowed them to track quality measures for value-based care and earn beneficial incentives.
Hospitals abroad see EHR software and the Health IT benefits they offer as a means of improving the quality of care they currently provide to their patients. A new report from Market Research Future predicts the global market for clinical intelligence software to grow 12.5 percent between 2017 and 2023.
The reasons for such growth include the increased adoption of EHR software and similar other Health IT systems worldwide. Another report foresees the clinical intelligence market growing at an exponential rate in the future and forecasts increase EHR buying in Europe, Asia Pacific, the Middle East & Africa and the Americas. It also maintains that the high cost of EMR Systems and similar clinical intelligence software will restrain the Health IT market growth in developing countries.
Currently, North America constitutes the lion’s share in the Health IT market. This is because of the presence of prominent healthcare IT companies in the US that are further enjoying global presence. Europe is regarded as the second largest market for clinical intelligence. The report states that it is also expected to see a steady growth in the near future. The reason for this is the utilization of clinical management software by an increasing number of healthcare providers, especially the EMR and patient engagement platforms.
The report (Market Research Future) further predicted that the analytics market will grow at the fastest rate in the Asia Pacific countries due to the increasing demand for healthcare IT, rising number of healthcare software solution providers and increased expenditure in healthcare.