Hospital Information System Market Size, Growth, Trends, Share and Analysis

Hospital Information System Market

Market Overview:

The Hospital Information System market is expected to witness a CAGR of around 11.0 percent over the 2018-2023 forecast period. Hospital Information System HIS is used for recording, monitoring and managing hospital-related activities. These transactions include management, economic transactions, and paperwork.

Increasing Use of EHR Systems:

Electronic Health Record EHR is a patient-centered record that makes patient data accessible to the affected and approved consumer rapidly and safely. The EHRs contain the medical history of the patient, treatment plans, and laboratory test results.

EHRs enhance the capacity to diagnose the disease and reduce the likelihood of results mistakes that eventually increase the result of the patient. According to the HealthIT.gov research, approximately 94 percent of EHR suppliers report that their EHR makes documents easily accessible at the point of care and 88 percent of EHR suppliers report that their EHR offers advantages to clinical procedures. This shows that the suppliers know the EHR systems importance. As a result, the demand in healthcare methods of the EHR schemes is growing. EHR use is growing owing to the greater satisfaction of the patient with regard to the services they receive. This increase in the use of EHR contributes to the growth of the market for hospital information system HIS, as EHR is one of HIS s major components.

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In addition, other factors such as increased demand for a quality healthcare system, increased healthcare investment, and technological growth in the healthcare industry are driving the market for hospital information systems.

Data Security and Privacy Concerns:

Concerns about health data privacy make individuals believe about whether or not they should adopt digital health instruments. The restricted features, redundant and confusing app environment are some of the problems faced by healthcare payers and suppliers when dealing with mobile or digital health instruments. Despite the existence of laws concerning private information safety for the patient, trusting in internet healthcare facilities becomes difficult for the population. Developed nations have less data security concerns due to rigid legislation on the same, but emerging areas are still struggling with privacy issues due to the absence of adequate legislation.

People in developing areas are still far removed from the healthcare industry s digitalization and the recent technological advances in the same, leading in less confidence in digital instruments. Increasing worries about privacy and data security limits the development of the market for hospital information system as HIS is also one of the instruments that utilizes and stores the medical information of a person.

Increasing worries about privacy and data security limits the development of the market for hospital information system as HIS is also one of the instruments that utilizes and stores the medical information of a person.

North America Holds the Largest Share in the Hospital Information System Market:

North America accounts for the major share of the market studied. This can be attributed primarily to the higher adoptability of the latest technologies coming into the market and government involvement in healthcare system improvement. It is anticipated that these variables will increase the market growth studied during the forecast period.

Hospital Information System MarketTrends:

In May, 2018: Allscripts Healthcare Solutions MDRX has recently completed an acquisition of $60 million in money from the Florida-based HealthGrid Holding Company.

In January, 2018: GE, Roche Enter Partnership for the Development of Integrated Digital Diagnostics Platform to improve oncology and treatment of critical care.

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Hospital Information System Market Major Players:

• Agfa-Gevaert N.V

• Allscripts Healthcare Solutions Inc.

• Cerner Corporation

• GE Healthcare

• Integrated Medical Systems PTY Ltd

• Koninklijke Philips N.V.

• McKesson Corporation

• Medical Information Technology, Inc.

• Siemens Medical Solutions USA Inc.

• Sysmex Sdn Bh

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