North America Medical Record Management Market to Grow at Substantial Rate During Forecast Period
Rising demand for efficient information and record management
systems and need to reduce healthcare cost are expected to drive the growth of North
America medical record management market during forecast period
According to
Tech Sci Research report, “North
America Medical Record Management Market By Delivery,
By Application, By End User, Competition, Forecast
& Opportunities, 2024”, the North America medical
record management market is anticipated to grow at a substantial pace over the
next 5 years owing to the increasing focus on reducing healthcare costs, ensuring
regulatory compliance for improving clinical efficiency as well as patient care.
Moreover, other factors responsible for the growth of this market include need
for electronic document management with the increasing adoption of electronic medical
record (EMR) systems & health information management (HIM) systems.
Furthermore, according to state, federal and local laws there is a need to
retain patient data securely which is further anticipated to boost the growth
of North America medical record management market in over the coming years. However,
the high costs of implementation and confidentiality concerns are the factors
that might restrain the growth of North America medical record management
market through 2024.
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North
America medical record management market can be segmented based on delivery, application,
end user and region. On basis of application, the market can be segmented into patient
record management, admission & registration document management, patient
billing document management, others. Among them, patient record management segment
is anticipated to dominate the market over the forecast years on account of the
demand for efficient management of information while ensuring security and
privacy of patients.
GE
Healthcare, Siemens Corporation, The 3M Company, Cerner Corporation, McKesson
Corporation, Allscripts Healthcare Solutions, Inc, Athenahealth, Inc., NextGen
Healthcare etc. are some of the leading market players operating in North
America medical record management market. The companies operating in the market
are using strategies such as product launches, mergers and collaborations to
boost their share and expand their presence in the market.
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“The North
America medical record management market is expected to record substantial
growth during the forecast period which can be attributed to the existence of regulations
such as Health Insurance Portability and Accountability Act of
1996
(HIPPA) and The American Recovery and Reinvestment Act of 2009 (ARRA). Additionally,
increasing requirement for cost containment in healthcare coupled with growing
initiatives to improve patient care are further anticipated to propel market
growth in this region through 2024.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“North America Medical Record Management
Market By Delivery, By Application, By End User, Competition, Forecast & Opportunities,
2024” has evaluated the future growth
potential of North America medical record management market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in North America medical record management market.
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