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EMR & EHR market to exceed USD 3.6Bil in APAC by 2023

The market size of APAC EMR and EHR solutions is estimated to be USD 2.5 Billion in 2018 growing at a steady CAGR of 7.7% and is expected to reach a market size of USD 3.62 Billion in 2023. The growth of the market is driven by factors such as Growing emphasis on patient experience,Increasing emphasis on Evidence-Based care, Increasing demand for Population Health Management (PHM) and Competition amongst healthcare providers.

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Definition / Scope

  • An EMR is a legal, digitized record of all encounters an individual has with a particular healthcare provider, supported by one or more of the following applications: clinical data repository (CDR), clinical decision support system (CDSS), controlled medical vocabulary (CMV) and/or computerized physician order entry (CPOE).
  • An EHR is a legal, digital record of all encounters that an individual has with possibly all the healthcare provider organizations within a community, state, or region.
  • The Governments and Healthcare Service Providers are focused on reducing medical expenses and improving population health and well-being. A shortage of medical professionals is witnessed across many departments in various APAC countries; As clinicians are concentrated in Urban areas disproportionate clinician-to patient ratio in many areas have been encountered.
  • APAC has been investing in healthcare digitalization to increase efficiency, reduce expenses and automate/eliminate redundant processes. As a result the adoption of IT is spurring a new wave of development across both public and private hospitals in APAC. The most notable of the IT Upgrades are the Electronic Medical Record (EMR) and Electronic Health Record (EHR) technologies.
  • There is significant advancements in technology and the healthcare services offered online which is outlined in the following image

Components of an EMR

The Various components of an EMR includes:

Face Sheet

  • A Face Sheet is a quick view of the patient, containing basic demographic info such as Age, Gender, Address and Phone Number. It also constitutes overview of the patient's medical condition, allergies and current medications. In an EMR, this overview may be called a Snapshot or Synopsis.

Medical Encounters

  • This includes events that have occurred which constitutes an encounter with a care provider.Regular Office Visits, trips to the ER, immunizations, hospital stays, and even telephone calls to the doctors all are considered to be encounters, and are recorded in the medical record.

Progress Notes

  • This is where the physician and other caregivers document their assessment, impressions, and other data observed during visits with patients.

Orders and Prescriptions

  • Any time a healthcare provider prescribes a medication, orders an X-Ray, or even advises to wear a knee brace- these are all orders and are documented in the medical record.

Test Results

  • Results from the lab tests, MRIs, or any other diagnostic tests will be in this section.

Miscellaneous information and documents from other healthcare providers

  • This is where any miscellaneous documents or materials are kept. For a paper chart, it’s usually near the end.

Components of an EHR

The eight core capabilities that EHRs should possess are:

Health information and data: Having immediate access to key information - such as patients' diagnoses, allergies, lab test results, and medications - would improve caregivers' ability to make sound clinical decisions in a timely manner.

Result management: The ability for all providers participating in the care of a patient in multiple settings to quickly access new and past test results would increase patient safety and the effectiveness of care.

Order management: The ability to enter and store orders for prescriptions, tests, and other services in a computer-based system should enhance legibility, reduce duplication, and improve the speed with which orders are executed.

Decision support: Using reminders, prompts, and alerts, computerized decision-support systems would help improve compliance with best clinical practices, ensure regular screenings and other preventive practices, identify possible drug interactions, and facilitate diagnoses and treatments.

Electronic communication and connectivity: Efficient, secure, and readily accessible communication among providers and patients would improve the continuity of care, increase the timeliness of diagnoses and treatments, and reduce the frequency of adverse events.

Patient support: Tools that give patients access to their health records, provide interactive patient education, and help them carry out home-monitoring and self-testing can improve control of chronic conditions, such as diabetes.

Administrative processes: Computerized administrative tools, such as scheduling systems, would greatly improve hospitals' and clinics' efficiency and provide more timely service to patients. Reporting. Electronic data storage that employs uniform data standards will enable health care organizations to respond more quickly to federal, state, and private reporting requirements, including those that support patient safety and disease surveillance.

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Market Overview

  • The EMR and EHR market in Asia-Pacific is estimated to hold a size of USD 2.5 Billion in 2018 growing at a steady CAGR of 7.7% and is expected to reach a market size of USD 3.62 Billion in 2023.
  • The Hospital System is expected to outperform Ambulatory Systems holding a market share of 70% as against 30% market share held by Ambulatory Systems.
  • According to HIMSS APAC, 42 hospitals in the region have achieved Stage 6, and 8 hospitals have achieved Stage 7
  • Asia-Pacific Population Health Management(PHM) market is poised to grow at a CAGR of 17.5% from 2018 to 2023.
  • The non-clinical solutions segment accounted for the largest share of 53% of the APAC healthcare IT market
  • The clinical solutions segment is expected to grow at the highest CAGR of 19.8% during the forecast period 2018-2023
  • Though On-Premise Software is leading the adoption, the significant growth is witnessed in Cloud-Based Software posting an incredible growth rate of 30%
  • Governments across APAC are expected to spend an estimated USD 794.6 Million toward EMR and EHR Program in 2018.
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Key Metrics

Metrics Value Explanation
Base Year 2018 Researched through internet


Market Risks

Inconsistent ROI and difficulties in quantifying financial benefits

The Public sector has made significant Investments in EMR and has received widespread criticism from APAC due to below-expectation returns that they have generated in the past. This is as a consequence of inadequate integration of diverse systems and lack of attention to system interoperability. Despite investing in the best of solutions, healthcare providers are unable to reap the benefits because they are not able to streamline workflows and gain efficiencies in organizational processes.

Lack of standardisation in healthcare protocols

The world of healthcare is exceedingly complex. In particular, variation in the delivery of healthcare is a fundamental concern with the lack of standardization directly affecting the ability to ensure safe care. While this problem is often acknowledged, not enough has been done to solve it. Not only is there still a significant divide in the ways different hospital systems deliver care, but variations exist between different departments within the same system and among individual providers within the same department. This is problematic for multiple reasons. It may lead to decreased patient safety and heightened confusion for both the patient and physician.

Top Market Opportunities

Medical Tourism

  • EMR and EHR automates and streamlines clinical workflows and makes gathering of clinical notes, diagnostic scans, administration records and discharge summaries easier.
  • Malaysia, Thailand, China and India are among the hotspots for medical tourism.

Focus toward Value-Based Care

  • A paradigm shift is occurring in the APAC Health-Care field. In the past, volume-based care has been the standard (fee for Service). Now, a value-based reimbursement structure (fee for value) is becoming the new normal as it provides incentives for healthcare providers to offer the best care at the lowest cost. As a result, patients are receiving more value for their money.
  • Value based initiatives are witnessed in South Korea, Australia and Singapore.

Population Health Management (PHM)

  • Healthcare Providers in APAC are focusing on ways to manage costs by leveraging existing data to identify population segments that are in severe need of services to channelize limited resources accordingly.
  • The Population Health Management market is expected to clock a healthy CAGR of 17.5% from 2018 to 2023.

Proactive and Preventive Care

  • Governments in APAC are focused on building healthier populations through real-time data analysis and proactively monitor patients. In APAC this is witnessed in chronic disease management programs.

Market Drivers

Growing emphasis on Patient Experience

Healthcare Providers are focusing on improving patient satisfaction as medical costs and insurance premiums rise. As improving patient experience Enhances an Organization’s Revenue and Improves an Organization’s Reputation Healthcare providers are inclined towards offering better patient experience, which drives the market for EMR and EHR Solutions.

Increasing emphasis on Evidence-Based care

Evidence-Based Practice (EBP) has been shown to increase patient safety, improving clinical outcomes, reduce healthcare costs and decrease variations in patient outcomes. Hence, Healthcare providers are emphasising on Evidence-Based Care which drives the adoption of EMR and EHR solutions.

Increasing demand for Population Health Management (PHM)

Owing to increasing need to manage the rising cost of Healthcare in the APAC region there is an increasing demand for Population Health Management. Healthcare providers in APAC are focusing on ways to manage costs by leveraging existing data to identify population segments that are in severe need of services to channelize limited resources accordingly.

Competition amongst Healthcare Providers

There is rising competition among Healthcare Providers for Patients based on price or quality or both price and quality. The Healthcare providers competing on quality offer best-of-services which includes digitalised EMR and EHR solutions.

Market Restraints

System Interoperability

A major challenge facing EMRs and EHRs is the continued focus on Interoperability. Systems need to be able to talk with one another to successfully gain the complete picture of a patient as possible. Whether it is about accomplishing meaningful use or improve the overall care of the patients, the focus must be on improved functional interoperability. But most of the EMR and EHR solutions are developed by different software solutions providers, the issue of System interoperability arises right from the beginning hence acting as a restraint for the growth of the EMR and EHR market.

Poor User Interface

A JAMA study has pointed out that poor EMR and EHR usability which is as a result of poor User Interface as partially responsible for more than 557 patient safety events from 2015 to 2018. Industry experts have also blamed EHR usability problems for the sudden spike in reports of physician burnout in recent years.

Cost Management

There are several costs associated with EMR licensing which includes

  • Upfront costs which comes with a one-time license fee and Hardware costs for the deployment of Servers.
  • Recurring Costs which constitutes Monthly, Annual or Ad-Hoc Maintenance which involves updates, patches and upgrades. And premium support offerings (eg. Expanded phone support hours)
  • Hidden Costs which involves Customization costs associated with offering of reporting and analytical capabilities and Costs associated with Integration services such as health care customer relationship management or business intelligence tools
  • The cost associated must be managed without constraining the budget of the Healthcare provider

Industry Challenges

Lack of robust training

Lack of adequate training is a consistent theme that many clinicians report as having a negative impact on their ability to effectively use their EMRs and EHRs. Hence it acts as a challenge for the adoption of EMR and EHR.

Lack of progress in countries where governments do not offer Incentives

The Lack of incentives in countries such as India, Thailand are curbing the adoption of EMR and EHR, which is in contrast to developing nations like Japan and Singapore. Under Japan’s universal health care system, all residents are required to join the public health insurance scheme. In exchange, they receive access to government-approved procedures and prescriptions, for which they pay only 30 percent of the cost or less. and in Singapore citizens and Permanent Residents warded in public hospitals receive government subsidies for their medical fees, which scale according to their chosen class of ward as well as their income. On an average a Salaried Employee with an Average Monthly Income of S$ 3,200 and below is entitled with a subsidy of 80% for Class C Ward and 65% for Class B2 Ward.

Technology Trends

Telehealth

Telehealth is the use of digital information and communication technologies, such as computers and mobile devices, to access health care services remotely and manage health care. These may be technologies used by patients from home or that doctor uses to improve or support health care services.

Artificial Intelligence

Artificial Intelligence finds its application in Managing Medical Records. Since the first step in health care is compiling and analysing information (like medical records and other past history), data management is the most widely used application of artificial intelligence and digital automation. Robots collect, store, re-format and trace data to provide faster, more consistent access.

Open API

The term API sounds complicated, but it’s really just a way in which software applications (like the EMR and EHR) can talk to other systems, and exchange large amounts of data rapidly and securely. In short - they support better, faster, cheaper interoperability. In addition to transmitting data between systems, APIs offer the ability to plug in chunks of functionality to another system, in a clean and predictable manner.

Pricing Trends

India

The pricing structure in EMR and EHR market of India is erratic. At the high end of the market, there are projects, which call for extensive customization and are usually priced in excess of INR 1 Crores whereas due to intense competition, players are now offering EMR and EHR to small hospitals (within 100 beds) in the range of INR 3-10 Lakhs.

China

The pricing structure in EMR and EHR market of China is witnessing stable growth. For an One-time implementation costs up to US$ 20,000 whereas the lowest monthly charges start at US$ 399.

Japan

The initial cost of non-customized EHR system installation is now less than one million Yen per bed.

Australia

In Australia the Cloud EHR and EMR solutions come with an upfront price tag of US $26,000 and an Yearly cost of US $ 8000 which leads to a 5 Year TCO (Total cost of Ownership) to US $ 58,000. While the On-Premise EHR and EMR solutions comes with a upfront cost of US $ 33,000 and Yearly cost of US $ 4000 and a 5 year TCO of US $ 48,000

Other

In Singapore EHR implementation costs for hospitals amount to approximately US$12,700 per bed with annual operating costs of US$3,200 per bed per year.

In Malaysia Prices for self-hosted EMR software start as low as $1,200 and can top $500,000 for large clinics and hospitals. The EMR software can also be bought at an upfront price of about $1200 to $500,000

In Thailand the average patient care process costs an average of $39.65

In Indonesia EHR implementation costs for hospitals amount to approximately US$14,500 per bed with annual operating costs of US$2,700 per bed per year.

Regulatory Trends

India

  • In 2013, Electronic Health Records standards and guidelines for India has been improved and finalized by, Government of India. To uplift the adoption of EHR, various category of standards like Vocabulary Standards ((ICD10, ATC etc.), Content Exchange Standards (HL7,FHIR,CCR and DICOM etc.), Clinical Standards and interoperability(to exchange the records between hospitals ) parameters inculcated in documented polices. All these standards are flexible and modified able.
  • On 2015, AIIMS-Delhi successfully implemented the cloud based EHR system to automate the patient appointment and create repository of patient record. For unique identification of patient this system recommended Aadhar card number as primary key.

China

From more than previous ten years EHR industry has been budding across China. Since 2004 a range of alterations have been made in electronic health record scheme. HISPC (Health Information Standards Professional Committee) has improved and finalized the guidelines for EHR standards and specifications.

Singapore

The Ministry of Health launched the national electronic health record, or NEHR, in 2011 under the mantra "one patient, one health record." It serves as a central repository for clinical summary records, which providers can use to access, store and exchange patient information.

Australia

In july 2012, Personally Controlled Electronic Health Records (PCEHR) Act has been implemented by the Government of Australia to create a national EHR for all 24.7 million of its citizens by December 2018.

Thailand

The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009 was an ambitious policy effort to increase the adoption of electronic health records (EHRs). It was prompted by evidence that the use of EHRs can substantially improve the quality and efficiency of care delivered.

Philippines

In 2016, Philippine eHealth Systems and Services was enacted by the Government of Philippines under which “Electronic Medical Record and Electronic Health Record were brought under the umbrella of eHealth Services offered under the Act.

Other

In Indonesia the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009’, which directed the Office of the National Coordinator (ONC) for Health Information Technology to promote the adoption and meaningful use of electronic medical records in the region.

In Malaysia, records management legislation, National Archives Bill 2003 and a few circulars released by the federal government, are too general and emphasize public agencies as a whole. Compared to most developed countries, Malaysia is still considered to be average in terms of laws for records. There are no policies, guidelines or standards on the management of EMRs in Malaysia. The Ministry of Health (MOH) has previously released Circular No. 17/2010 (Guideline for the Management of Patients’ Medical Records for Hospitals and Medical Institutions) to raise the integrity of medical records personnel and medical practitioners. However, the guidelines merely emphasised the conventional records and manual approach and failed to address EMRs.

Other Key Market Trends

  • EMR vendors are evolving from being just EMR solution providers to being providers of completely integrated systems. Their robust EMR solutions - gather data from multiple sources, such as telehealth platforms, non-clinical solutions, genomics, and pharmacy IT, normalize data in different formats, and make it available for other applications such as analytical tools These solutions provide more functionality to developed nations that are moving from simply documenting medical records in electronic format to leveraging the data for cost-effective and high-quality healthcare services.
  • EMR solutions with cutting-edge technologies such as Artificial Intelligence (AI), machine learning and block-chain will be high in demand in countries including Australia, China, Japan, and Singapore.
  • Developed Nations such as Japan, Singapore and Malaysia will opt for complex applications that incorporate sophisticated imaging and analytics tools and other advanced functionalities.

Market Size and Forecast

  • The EMR and EHR market in Asia-Pacific is estimated to hold a size of USD 2.5 Billion in 2018 and is expected to reach a market size of USD 3.62 Billion in 2023.
  • The Asia-Pacific is the fastest growing region among all regions in the EMR and EHR Market. It is expected to grow at a healthy CAGR of 7.7% in the forecast period(2018-2023).

Regional Breakdown

Greater China (China, Taiwan and Hong Kong)

  • China, a USD 10 trillion economy with a strong communist government at its helm, is reshaping the global economy, like never before. China is the world’s second largest market and is continually growing to become an attractive destination for foreign investment.
  • As of 2018, half of all tertiary hospitals in China use their own EHR system, as do 30% of urban health centers and 20% of rural hospitals. This growth is only expected to continue, with experts predicting 80% participation in tertiary hospitals by 2020.
  • From more than previous ten years EHR industry has been budding across China. Since 2004 a range of alterations have been made in electronic health record scheme. HISPC (Health Information Standards Professional Committee) has improved and finalized the guidelines for EHR standards and specifications. As per the report of Frost & Sullivan in year, 2018, EMR and EHR market of China make returns of around $1.24 billion. It is predictable to cross $2.5 billion at the end of year 2023. To refined the HIT, the strategy of Health China 2020 boost the digitized healthcare delivery. Major international EHR providers are Dell, Fujitsu, IBM while the national providers are Jiangsu Zhongkang DHC, Neusoft, and Yonyou

Japan

  • The adoption of electronic medical records to use health information big data is a major priority in Japan. According to an industry source, the adoption rate for electronic medical records and ordering systems among hospitals in 2017 was 34.4% and 43.6% respectively. 76.3% of hospitals with more than 400 beds have electronic medical records and 83.1% of them have electronic ordering systems. Due to rapid demographic changes and hospital shortages, demand for home nursing care is expected to grow.
  • The market size of the EMR and EHR solutions in japan is USD 896 Million in 2018 and is expected to grow to a market size of USD 1,240 Million in 2023.

India

  • In 2013, Electronic Health Records standards and guidelines for India has been improved and finalized by, Government of India. To uplift the adoption of EHR, various category of standards like Vocabulary Standards ((ICD10, ATC etc.), Content Exchange Standards (HL7,FHIR,CCR and DICOM etc.), Clinical Standards and interoperability(to exchange the records between hospitals ) parameters inculcated in documented polices. All these standards are flexible and modified able. On 2015, AIIMS-Delhi successfully implemented the cloud based EHR system to automate the patient appointment and create repository of patient record. For unique identification of patient this system recommended aadhar card number as primary key. Its estimated that EMR and EHR market will attain $1.45 billion in the year of 2023 It is expected to thrice times more than the $381.3 million crossed in 2018. There is very less diffusion of EMR and EHR in India. Healthcare IT spending payments stands at $305 million in India. Major barriers are lack of funding, computer literacy, scarcity of trained staff, immense initial investments and deficiency of rigid policies.

ANZ (Australia and New Zealand)

  • Australia continues to face increased healthcare expenditure. In 2017-2018, total government funded healthcare was nearly 56%. Federal government healthcare expenditure declined from 36.5 % in 2018-2019 to 32.2% in 2023-2024.Public hospital services accounted for 29.6% of total health expenditure, followed closely by primary healthcare spending.
  • Healthcare organizations across Australia are poised to spend an estimated AU $1.865 billion on EMR/EHR systems by 2018
  • The market size of EMR and EHR solutions in ANZ is estimated to be USD 346 Million in 2018 and is expected to clock a market size of USD 524 Million in 2023.

ASEAN (Singapore, Malaysia, Indonesia , Thailand, Philippines, Cambodia, Myanmar, Vietnam, Laos)

  • The ASEAN region is one that shows a lot of disparity in terms of economic as well as technological growth and development. There are pockets of high growth as well as sub par growth here. As far as EHR systems go however, there should at least be a country level preparedness that can make it effective. Planning and execution take time and involve a separate budget allocation, which may not be possible in some cases.
  • The market size of the ASEAN EMR and EHR market is estimated to be USD 246 Million in 2018 and expected to reach a market size of USD 416 Million in 2023.

Market Outlook

  • The EMR and EHR market in Asia-Pacific is estimated to hold a size of USD 2.5 Billion in 2018 growing at a steady CAGR of 7.7% and is expected to reach a market size of USD 3.62 Billion in 2023.
  • The Hospital System is expected to outperform Ambulatory Systems holding a market share of 70% as against 30% market share held by Ambulatory Systems.
  • According to HIMSS APAC, 42 hospitals in the region have achieved Stage 6, and 8 hospitals have achieved Stage 7
  • Asia-Pacific Population Health Management(PHM) market is poised to grow at a CAGR of 17.5% from 2018 to 2023.
  • The non-clinical solutions segment accounted for the largest share of 53% of the APAC healthcare IT market
  • The clinical solutions segment is expected to grow at the highest CAGR of 19.8% during the forecast period 2018-2023
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Distribution Chain Analysis

  • The EMR and EHR solutions are offered by Software Service Providers be it Software Product developers or Software Services Providers alike. The services are offered both on-premise (which involves management of EMR and EHR solutions in the on-site servers) and through cloud Services (which involves management of EMR and EHR solutions in the cloud).
  • Today, supply chain departments already capture information on the medical-surgical products their facilities procure, and they store this information in their item masters. The item master drives not only supply chain processes, but also a broad range of clinical and financial functions. Therefore, it makes sense that the item master should also feed the EHR to support documentation of the products used in patient care. But using the item master to feed standardized product data to the EHR is not as simple as it might seem.

Competitive Landscape

  • EHR implementations are time and resource intensive. To ensure a return on its investment, a provider needs to prove the meaningful use of its EHR. Providers also need to use their EHRs to drive revenue growth and better reimbursements by delivering more effective, efficient patient care across the continuum. Both require healthcare organizations to have access to accurate data on the products used in patient care.
  • EMR/EHR market anticipated that would enlist a sound development because of: expanding requirement for simple and advantageous social insurance administrations, substitution of paper records by electronic records, lessen odds of blunder, an expansion in the quantity of patients getting conceded in clinics, expanding volume of therapeutic records, simple medicinal services conveyance and keeping up nature of wellbeing records.
  • Such advancements in social insurance IT additionally supports the development of the EMR/EHR Market. Then again, high cost of programming arrangements may act a control to this present market's development.
  • The appropriation of distributed computing in medicinal services is probably going to increment because of the rising need to diminish social insurance expenses and cost-proficiency of cloud innovation.

Competitive Factors

Quality

  • Several studies call into question whether EHRs improve the quality of care. One 2011 study in diabetes care, published in the New England Journal of Medicine, found evidence that practices with EHR provided better quality care.
  • Quality may be improved in the form of better usability, simpler user interface, decreasing manual efforts. Industry players offering best quality at adequate pricing are set to dominate the market.

Costs

  • The steep price of EHR and provider uncertainty regarding the value they will derive from adoption in the form of return on investment has a significant influence on EHR adoption. In a project initiated by the Office of the National Coordinator for Health Information (ONC), surveyors found that hospital administrators and physicians who had adopted EHR noted that any gains in efficiency were offset by reduced productivity as the technology was implemented, as well as the need to increase information technology staff to maintain the system

Software quality and usability deficiencies

  • The Healthcare Information and Management Systems Society, observed that EHR adoption rates is lesser especially in comparison to other industry sectors and other developed countries. A key reason, aside from initial costs and lost productivity during EMR implementation, is lack of efficiency and usability of EMRs currently available. The Industry players offering better software and simplified usability is set to outperform competitors in the market.

Hardware and workflow considerations

  • When a health facility has documented their workflow and chosen their software solution they must then consider the hardware and supporting device infrastructure for the end users. Staff and patients will need to engage with various devices throughout a patient's stay and charting workflow. Computers, laptops, all-in-one computers, tablets, mouse, keyboards and monitors are all hardware devices that may be utilized. Other considerations will include supporting work surfaces and equipment, wall desks or articulating arms for end users to work on. Another important factor is how all these devices will be physically secured and how they will be charged that staff can always utilize the devices for EHR charting when needed.
  • The success of eHealth interventions is largely dependent on the ability of the adopter to fully understand workflow and anticipate potential clinical processes prior to implementations. Failure to do so can create costly and time-consuming interruptions to service delivery.

Key Market Players

  • Dell is an American multinational computer technology company based in Round Rock, Texas, United States, that develops, sells, repairs, and supports computers and related products and services. Named after its founder, Michael Dell, the company is one of the largest technological corporations in the world, employing more than 103,300 people in the U.S. and around the world.
  • Fujitsu Ltd. is a Japanese multinational information technology equipment and services company headquartered in Tokyo, Japan. In 2015, it was the world's fourth-largest IT services provider measured by IT services revenue (after IBM, HP and Accenture). Fortune named Fujitsu as one of the world's most admired companies and a Global 500 company
  • International Business Machines Corporation (IBM) is an American multinational information technology company headquartered in Armonk, New York, with operations in over 170 countries. BM produces and sells computer hardware, middleware and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM is also a major research organization, holding the record for most U.S. patentsgenerated by a business (as of 2019) for 26 consecutive years
  • Jiangsu Zhongkang DHC is a Chinese based Healthcare IT Solutions provider.it provides customized EMR and EHR solutions.
  • Neusoft Corporation is a Chinese multinational provider of software engineering services, Information Technology services, product engineering services, IT education and medical equipment headquartered in Shenyang, China. It was founded in 1991 and, as of 2010, is the largest China-based company providing IT services and, as of 2012, the largest software outsourcing firm in China
  • Yonyou (officially Yonyou Software Co., Ltd., formerly UFIDA Software Co., Ltd.)[3] is a software company headquartered in Beijing, China Established in 1988, its principal products are accounting software and ERP software. Yonyou has around 60 branches in mainland China and overseas branches in Japan, Hong Kong and Thailand.
  • Wipro Limited is an India-based information technology, consulting and business process services company headquartered in Bengaluru, India
  • Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) service, consulting company headquartered in Mumbai, Maharashtra. TCS is one of the largest Indian companies by market capitalization TCS is now placed among the most valuable IT services brands worldwide In 2015, TCS is ranked 64th overall in the Forbes World's Most Innovative Companies ranking, making it both the highest-ranked IT services company and the top Indian company

Strategic Conclusion

  • The EMR and EHR market in Asia-Pacific is estimated to hold a size of USD 2.5 Billion in 2018 growing at a steady CAGR of 7.7% and is expected to reach a market size of USD 3.62 Billion in 2023.
  • The challenges pricking the growth of the market includes Lack of robust training and Lack of progress in countries where governments do not offer incentives
  • The growth of the market is driven by factors such as Growing emphasis on patient experience, Increasing demand for Population Health Management (PHM) and Competition amongst healthcare providers

Further Reading

Appendix

  • AI - Artificial Intelligence
  • USD - US Dollar
  • EMR - Electronic Medical Record
  • EHR - Electronic Health Record
  • CDR - Clinical Data Repository
  • CMV - Controlled Medical Vocabulary
  • ROI - Return on Investment
  • TCO - Total Cost of Ownership
  • PHM - Population Health Management
  • EBP - Evidence-Based Practice
  • API - Application Programming Interface
  • CAGR - Compounded Annual Growth Rate
  • CDSS - Clinical Decision Support System
  • CPOE - Computerized Physician Order Entry
  • APAC - Asia Pacific Countries


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