Report: EMR market grew to $15.7B in 2010
Confusion over meaningful use may have crimped EMR sales, but the market for EMR hit $15.7 billion in 2010, according to a recent report from market researcher Kalorama Information. The report, “EMR 2011: The Market for EMR Systems,” examined the market and trends affecting EMR software and related services.
According to the report, the growth rate of 10 percent in 2009 and 13.6 percent in 2010 was a little slower than anticipated—the New York-based market researcher had predicted 15 percent growth for both years. Kalorama cited some hesitation in the market due to confusion about meaningful use guidelines.
However, significant growth did occur, the report stated: Physician use of EMR is nearing 50 percent nationwide, and adoption and upgrading activities will be brisk in coming years, Kalorama predicted, to the tune of 18 percent to 20 percent market growth for the next two years.
This prediction is based on the assumption that EMR usage will continue to increase as hospital EMR adoption will spur physician adoption, current EMR Stage 3 hospitals will purchase more advanced systems and current EMR owners will upgrade. In addition, the threat of penalties in 2015—in the form of CMS payment decreases for non-adoption of EMRs—will force doctors and hospitals to upgrade, Kalorama stated.
According to the report, the growth rate of 10 percent in 2009 and 13.6 percent in 2010 was a little slower than anticipated—the New York-based market researcher had predicted 15 percent growth for both years. Kalorama cited some hesitation in the market due to confusion about meaningful use guidelines.
However, significant growth did occur, the report stated: Physician use of EMR is nearing 50 percent nationwide, and adoption and upgrading activities will be brisk in coming years, Kalorama predicted, to the tune of 18 percent to 20 percent market growth for the next two years.
This prediction is based on the assumption that EMR usage will continue to increase as hospital EMR adoption will spur physician adoption, current EMR Stage 3 hospitals will purchase more advanced systems and current EMR owners will upgrade. In addition, the threat of penalties in 2015—in the form of CMS payment decreases for non-adoption of EMRs—will force doctors and hospitals to upgrade, Kalorama stated.