E Prescription Systems Industry is Expecting Major Technological Growth in Near Future

Major Market Dynamics:

Driver: Government initiatives & incentive programs

Driven by the benefits of e-prescribing solutions, governments in several countries are taking initiatives to promote electronic prescribing. The U.S. has been at the forefront of healthcare IT initiatives across the globe. The U.S. government provides various incentives to healthcare providers for the implementation of e-prescribing across their facilities.

Restraint: Reluctance to adopt new technology

The efficiency of e-prescribing is largely dependent on the willingness of end users such as healthcare professionals to shift to electronic prescribing from traditional paper-based patient records. Additionally, most healthcare systems in developing countries do not have an integrated and well-connected network.

Opportunity: Service industry to provide opportunities for revenue generation

Given the support for and favorable environment for the implementation of e-prescribing solutions, it is expected—particularly in the U.S.—that their use will become widespread and an integral part of the healthcare system, in the years to come. As the market becomes saturated, the focus can be expected to shift from sales to the provision of support services. As healthcare providers will have already adopted e-prescribing software, EHRs, & EMRs, companies will have to provide services to generate secondary revenue.

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Challenge: Lack of technological awareness among end users

E-prescribing solutions operate at maximum efficiency only when integrated with EHRs and a complimentary suite of other HCIT solutions. However, most physicians and end users lack the knowledge and technological expertise to understand how to make full use of e-prescribing.

MarketsandMarkets forecasts the e-prescribing market to grow from USD 546.5 million in 2016 to USD 1,403.2 million by 2021, at a Compound Annual Growth Rate (CAGR) of 20.8% during the forecast period

Critical questions the report answers:

# Where will all these developments take the industry in the long term?
# What are the upcoming trends for the e-prescribing market?
# Which segment provides the most opportunity for growth?
# Who are the leading vendors operating in this market?
# What are the opportunities for new market entrants?

The major players in the market are Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), Quality Systems, Inc. (U.S.), athenahealth, Inc. (U.S.), RelayHealth, LLC (U.S.), Henry Schein, Inc. (U.S.), GE Healthcare (U.S.), Computer Programs and Systems Inc. (U.S.), DrFirst, Inc. (U.S.), Surescripts-RxHub, LLC (U.S.), Medical Information Technology, Inc. (U.S.), Change Healthcare Holdings, Inc. (U.S.), eClinicalworks (U.S.), and Practice Fusion, Inc. (U.S.). 

The key strategies adopted by major players in the global e-prescribing market are agreements, partnerships & collaborations; mergers & acquisitions; product launches; and geographic expansions. In this competitive market, global players aim to maintain their market position through continuous investments in R&D with a focus on developing innovative solutions or enhancing their existing solutions.

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Recent Industry Developments:

# In September 2016, Cerner Corporation opened Healthe at Cerner Center at its Manyata campus in Bangalore, India. More than 2,200 associates will have access to the state-of-the-art Healthe Clinic, Healthe Fitness Center, and a full suite of health coaching and educational opportunities.

# In September 2016, Cerner Corporation signed an agreement with Sandwell & West Birmingham Hospitals NHS Trust (U.K.) to provide major electronic patient record programs, e-prescribing, clinical support, patient portal, and clinical documentation.

# In August 2016, athenahealth acquired Filament Labs, Inc. (U.S.), a provider of the care coordination platform used by providers to engage patients and caregivers outside the clinic.

# In August 2016, Henry Schein Medical Systems launched Henry Schein MicroMD Version 12 software for office-based medical practitioners. The new software features upgrades designed to help physicians operate more efficient and productive practices.

# In October 2015, DrFirst, Inc. launched myBenefitCheckSM service, which provides real-time, patient-specific information regarding a patient’s prescription, drug benefit coverage, as well as out-ofpocket costs to providers.