Covid-19 impact analysis on the EHR-EMR Market
Healthcare firms are ramping up efforts for the treatment of COVID-19 patients. However, with the surge in the number of cases, it is challenging for hospitals to manage patient information precisely. The healthcare IT vendors are thriving to provide the healthcare organizations with tools to manage a case, analyze the information, as well as assess the patients remotely. In light of this pandemic, the electronic heath record-electronic medical record (EHR-EMR) vendors are trying to augment their existing systems for smooth functionality and coping with this crisis. The below figure depicts the usage of EHR by US professionals, according to a survey conducted in 2018.
Usage of EHR, 2018
With the growing number of emergencies, the possibilities for cyber threats have increased to a great extent. Several prominent companies are trying their best to aid hospitals and clinics with the latest software updates. For instance, in January 2020, Epic Systems Corporation released a software update that potentially helps clinicians spot possible COVID-19 patients. The company is encouraging users to share COVID-19 data through Epic’s interoperability network, which the providers can use to share travel-screening documentation and infection-status information with both Epic and non-Epic networks. Similarly, Epic Systems Corporation advised its customers that its MyChart portal can be used to handle questions and complete screening for COVID-19, as well as to communicate through e-visits, video visits, or secure messaging to preclude unnecessary visits to hospitals. Also, the Cerner Corporation developed a COVID-19 update to its clients using the Millennium software. However, the downside is that even with the release of technology updates, patients are developing new symptoms, risk factors, comorbidities. These elements are set to test the dexterity of EHR-EMR companies.
Privacy concerns and outdated regulations have exacerbated the current situation and have led to a fragmented data ecosystem. The interoperability of data among healthcare providers remains a significant challenge where exchange and analysis of medical data for healthcare purposes are crucial. Clinicians need to be able to have instant access to patient data to make health-based decisions. Information from diagnostic tests, locations of confirmed positive cases, the number of total tests administered, test results, and many other parameters must flow as freely as possible without sacrificing privacy or other essential elements of ethical care and research. Tracking dozens of patients in an electronic health record system is feasible in many health care systems, but not all economies have such capabilities. During the response to COVID-19, data must flow, and conversations on interoperability must be given utmost importance. Resolving interoperability issues is not an easy fix. However, the Centers for Disease Control and Prevention (CDC) and EHR vendors are offering guidelines around the documentation of patient data about COVID-19. The healthcare providers, therefore, could see improvements in their ability to exchange information. As a result, with government intervention and other stakeholders working together, there could be developments that may aid the better responses to this outbreak.
elow pointers focus on untapped value-added segments of the EHR-EMR market:
Inclination toward population health management can aid vendors to invest in data analysis, instead of traditional data repositories.
Source: Medical Economics Survey 2018