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Australia’s Electronic Health Record (EHR) industry is tipped for growth next year as more organisations look to streamline their patient processes.
New Accenture research revealed the global market will be worth US$22.3 billion (AU$24.8 billion) by the end of 2015, with Australia set to contribute $700 million.
Australia’s national eHealth program, which received AU$447 million in investment, is thought to be a primary driver of the country’s 2.2 per cent EHR compound annual growth rate over the next two years.
The Personally Controlled eHealth Record System (PCERS) in Australia provides an online summary of an individual’s health information. PCERS is designed to allow patients, hospitals, doctors and other healthcare providers from across the country to access and share information for improved service delivery.
EHR expansion across the Asia-Pacific is expected to be 7.7 per cent, outpacing the global average of 5.5 per cent. Japan’s EHR sector is forecast to hit $1.4 billion, making it the largest market in the region.
The EHR sector in the US proved to be the most lucrative. Accenture predicted its value will reach $9.3 billion by the end of next year, enjoying a growth rate of 7.1 per cent.
Kaveh Safavi, global managing director of Accenture Health, said healthcare leaders still face the challenge of achieving sustained outcomes and proving their return on investment in EHR platforms has made the move worthwhile.
“However, as market needs continue to change, we’re beginning to see innovative solutions emerge that can better adapt and scale electronic health records to meet the needs of specific patient populations as well as the business needs of health systems,” he explained.
“To be effective, EHR platforms must leverage newer technologies, such as analytics and mobility, to adapt to the changing needs of patient populations and better connect physicians and patients.”