While providers and patients are considered to be the major beneficiaries of the health IT applications such as Electronic Medical Records (EMR) and patient portal, today, even the product vendors are reaping extravagant profits through them. Although the existence of more than 700 vendors in the market has made the industry quite competitive, not every vendors enjoys the same position as the established vendors do. This case is quite evident when it comes to patient portals, especially.
Many health IT consultants think that EMRs were sufficient to help vendors sustain the existing market share, the ever increasing pressure of competition requires new developments. Although patient engagement and secure patient-physician interaction the major reason behind introducing patient portals, vendors also believe that this could help them attract more clients and make a mark in the market. Interestingly, only a few established vendors are making patient portals and various other applications. This is what gives them an edge over a lot of competitors.
“To keep themselves in the market, vendors should always keep on experimenting with their product and also come up with new ideas that would help them sustain the competition. With such an intense competition, vendors should not risk their position by merely relying on their conventional products”, says a North Dakota based health IT consultant.
One cannot even disagree that patient portals have come a long way from merely being a platform facilitate communication. Established vendors have incorporated various features that allow patients to not only interact with their physicians whenever needed but also perform several administrative tasks without having to visit the physician in person. This means reduced costs associated with making redundant telephonic calls and spending money on fares.
Considering that time is of essence, the finest patient portals allow patients to schedule their appointments online and keep a follow up by making a few clicks. Patients are at complete liberty to access their health records online and even download them if needed. Imagine the ease of staying connected within the care continuum through a simple internet connection. Where patients and physicians are making the most of patient portals, the increasing rate of implementation is definitely helping vendors make profits too.