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Report: Electronic Medical Records Market Nears $25 BillionNEW YORK, April 15, 2015 /PRNewswire/ -- Kalorama Information said the market for electronic medical records and health records (EMR) reached $24.9 billion in 2014. The healthcare market research publisher cites government incentives, system upgrades, fear of penalties and the quest for efficiency in healthcare organizations as factors. The finding was made in the firm's annual report on the market for electronic medical records, EMR 2015: The Market for Electronic Medical Records.  Kalorama noted that sales grew 10% from 2012 to 2014, as more physicians and hospitals use EMR and acquire EMR systems, and as hospitals and physician groups upgrade existing systems. Kalorama's report identifies the revenue that is coming from services, software and hardware. "There's still a healthy and competitive market for EMR," said Bruce Carlson, Publisher of Kalorama Information. Kalorama includes revenues for EMR/EHR systems, CPOE systems, and directly related services such as installation, training, servicing, and consulting which are key profit areas for companies. It does not include PACS or hardware. Kalorama expects the market to rise to $35.2 billion by 2019. Kalorama's forecast assumes the trend of adoption will continue to move forward, although slowing; hospital EMR adoption will supersede doctors EMR adoption; and current EMR Stage 3 will move up in stages. It is anticipated that current EMR owners will upgrade and train on systems, and that the threat of penalties will force doctors and hospitals to make upgrade decisions. "Expect growth this year and next at seven to eight percent and stable growth until 2019," Carlson said. "Eventually, there will be market saturation but this is a bit of a way off, especially in emerging markets." Physician adoption is a major driver. Continued gains have been made in physician adoption in EMR systems since Kalorama last reported on this topic in early 2014. There has been rapid growth but adoption has been uneven. The Center for Medicare Services' recent survey shows over 80% of physicians in the US have used EMR. This is a significant improvement over 2006 whe Kalorama Information first began studying EMR and represents the success of the stimulus incentives in the ARRA stimulus law of 2009. As part of the ARRA legislation, the federal government set aside nearly $20 billion in incentives for hospitals and physician practices adopting electronic medical records. The first incentives were paid in 2011 based on 2010 performance. More than $28 billion in meaningful use incentive payments have been distributed to 426,000 eligible hospitals and healthcare professionals as of January 1, 2015. In the US, EMR has made significant gains in hospital and health systems. Demographic studies indicate there is wide variance among physicians in different regions (Physicians in the North US more likely than Eastern US) and age (physicians under 44 more likely). 81.4 percent of the office-based physicians used partial or full EMR systems in 2014, an increase from the 57.0 percent reported in 2011. About 50.7 percent of physicians reported that they now have systems that met the criteria of a basic system and about 20.8 percent reported having systems that met the criteria for a fully functional system. Physicians increasingly are adopting electronic medical records systems, even before government economic incentives for doing so have kicked in. There are many significant players in the EMR market, and along with unique niche players including:
Kalorama Information's report, EMR 2015: The Market for Electronic Medical Records is a complete review of the market for electronic medical records including segment market estimates, regional markets, company profiles, user survey data and pricing information. The report can be obtained at http://www.kaloramainformation.com/redirect.asp?progid=87357&productid=8917410. It is available on MarketResearch.com. About Kalorama Information We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com. Contact: Logo - http://photos.prnewswire.com/prnh/20140801/132634
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/report-electronic-medical-records-market-nears-25-billion-300066515.html SOURCE Kalorama Information 
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