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EHR market will grow to $3.8 Billion by 2015

January 19, 2011

The market for electronic health records software is expected to grow from nearly $1.9 billion in 2009 to $3.8 billion in 2015, according to new research from IDC Health Insights.

Outpatient EHR software spending totaled $663.5 million in 2009 but will increase to $1.41 billion by 2015, predicts IDC. The inpatient EHR market is projected to grow from $1.3 billion in 2009 to $2.4 billion by 2015.

The market growth could be attributed to the EHR meaningful use incentive program from the Centers for Medicare and Medicaid Services, the improved quality of care, and the reduction in costs, writes Health Data Management.

According to recent research by the Medical Group Management Association, medical practices that had fully functioning EHR systems reported nearly $50,000 in additional revenue after operating costs per physician than practices that still use paper records.

A recent case study featured on the website Medscape showed that a healthcare facility in Arlington, Virginia, with an EHR system that was implemented in 2001 saw 10 percent more daily visits on average and increased annual revenue by $40,000 without taking on additional staff.

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