Total U.S. market revenues for hospital electronic health record systems could reach $6.5 billion in 2012 largely because of the meaningful use incentive program, according to a new report from market research firm Frost & Sullivan, CMIO reports. Under the 2009 economic stimulus package, health care providers who demonstrate meaningful use of certified EHRs can quality for Medicare and Medicaid incentive payments.
The report — titled, “U.S. Hospital EHR, 2009-2016: Charting the Course for Dramatic Change” — found that the EHR market in 2009 earned revenues of $973.2 million. The report states, “Revenues are expected to retrench some after 2013 due to increased market saturation and growing price competition.”
Frost & Sullivan researchers note that the core hospital EHR market is mature and dominated by several well-established vendors. However, the report states that “it is still a highly dynamic market in the sense that increasing provider consolidation, customer dissatisfaction with high prices and poor usability, and uncertainties around the financial and logistical impact of health care reform do present new opportunities (and risks) for both existing vendors serving the market, as well as new vendor entrants with niche products or services”