Frost & Sullivan: Government Initiatives Drive Use of Electronic Medical and Health Records in Asia-Pacific
Regulations and incentives for healthcare providers to go paper-less fuel adoption
KUALA LUMPUR, Malaysia, April 23, 2013 /PRNewswire/ -- Electronic medical record (EMR) and electronic health record (EHR) systems are becoming increasingly popular in Asia-Pacific as the region's healthcare industry moves towards digitization. Governments, non-profit entities and the private sector are aggressively investing in EMR and EHR projects at both regional and local levels to achieve seamless information exchange that will contribute towards cost savings as well as improvements in clinical outcomes.
New analysis from Frost & Sullivan (http://www.connectedhealth.frost.com), EMR and EHR Market in APAC, finds that the market earned revenues worth US$1.2 billion in 2012 and estimates this to reach US$2.20 billion in 2018.
EMR and EHR systems reduce the costs of storing, transmitting and managing volumes of medical and health data, decrease end users' burden of multiple tests and procedures, improve healthcare delivery, and reduce medical errors. Healthcare providers' recognition of these benefits accelerates the adoption of EMR and EHR solutions.
"Government initiatives to establish standards, regulations and infrastructure further encourage healthcare providers to adopt EMR and EHR technology," said Frost & Sullivan Healthcare Research Analyst Natasha Gulati. "Medical professionals hope to improve operational efficiency; medical resource utilization; patient data access in rural areas and aged care programs through EMR systems."
However, challenges around interoperability and the lack of technical skills among medical professionals hinder market development. Robust EMR or EHR equipment are expensive, curbing investments from APAC healthcare providers who are already reeling under the pressures of declining margins. Their inability to extend their operational budgets to include sophisticated solutions restricts revenue inflow.
Governments looking to fund the implementation of these solutions must balance their grants between new investments as well as maintenance and upgrades. In addition to funding, governments are collaborating with software and infrastructure companies to build EHR networks in public hospitals.
"Healthcare groups and solution vendors are investing in training programs to build a skilled medical workforce that can leverage sophisticated technologies," noted Gulati. "Several universities have developed curricula on health IT management, health informatics and public health information management to facilitate superior healthcare delivery."
Effective EMR and EHR can improve the quality of care, relieve margin pressures and drive revenue growth.
If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at [email protected], with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
EMR and EHR Markets in APAC is part of the Connected Health Growth Partnership Service program. Frost & Sullivan's related research services include: APAC Business Analytics for Healthcare Providers – Market Opportunity Assessment, Healthcare Mobility Solutions Market in Australia, and mHealth Market in India. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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EMR and EHR Markets in APAC
P6F9-48
Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: [email protected]
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: [email protected]
Jessie Loh
Corporate Communications – Asia Pacific
P: +65 6890 0942
F: +65 6890 0988
E: [email protected]
SOURCE Frost & Sullivan
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