Most of us are familiar with the impact of EMR in the US Healthcare sector; with the introduction of the incentives under the ARRA, US has seen significant growth in the health IT sector with the anticipated adoption compound growth rate at 10% in North America alone and with a year end projection of 40% for Hospital based EMR Adoption which in turn is expected to be close to 62% by the end of 2013. This overwhelming as it might be is still not completely reflective of the saturated healthcare points in the US, including single providers and private practices.
An ongoing research by SK&A, a health care information company included a breakdown of practice adoption rate, based on provider numbers, including a growth rate comparison based on last year numbers.
With these numbers representing the US, the idea of studying the global impact of EMR technology seemed very intriguing. Accenture conducted a research in August of 2010 which included an overview of international markets and impact of Healthcare IT all over the globe.
According to a survey conducted by Accenture 71% of EMR vendors believe that the government funding is the major factor in perpetuating such growth levels. A lot of governments are now dedicating budgets for the health IT development and adoption; the Australian government announced a $467million national e-health initiative to link EMR systems and health IT applications across the country; whereas healthcare IT budget for UK, Japan and Germany currently lies at $1.6 Billion, $1.5 Billion and $1.0 Billion respectively, followed by Spain, France, Nordics and Canada at $0.6 Billion each.
The leaders in overall adoption rate are the Nordic countries (Denmark, Norway, Switzerland and Finland) with the current adoption rate close to 90% for Hospital based EHR adoption. Following them are Spain and Australia, with projected rates of 83% and 78% respectively for the yearend 2013.
In the UK, most of the Hospitals are re-evaluating their EMR strategy following an attempt by NHS for standardizing solutions; with the adoption rate currently being projected at 73% for the yearend 2013. UK currently is also being regarded as the most profitable market for EHR vendors, in lieu of the growth spur for cloud based EMR and other Healthcare IT solutions.
Healthcare IT sectors for Canada and Japan and European countries like France and Germany show consistent growth despite less funding from the government. High volume growth is expected from India and China preceding growth normalization in the West. The global adoption rate for Electronic Medical Records is currently termed as “optimistic”, with the world Healthcare generally being focused on; it wouldn’t come as a surprise if our next generation may never experience paper medical workflow and documentation.