The Global OBGYN EHR Market Size is valued at 1.62 billion in 2022 and is predicted to reach 3.42 billion by the year 2031 at an 8.8% CAGR during the forecast period for 2023-2031.
Software designed specifically for obstetricians and gynecologists (OBGYN) is used to enhance patient care and speed up practice management. This comprehensive solution brings together a number of components to support efficient workflow and improve clinical practices in obstetrics and gynecology. In order to facilitate efficient data transfer and detailed patient management, OBGYN EMR software typically integrates with other healthcare platforms, such as electronic health record (EHR) systems and medical billing software.
For healthcare practitioners to make informed decisions and provide high-quality care, software solutions can include decision support tools, clinical suggestions, and instructional resources. Gynecology practices are increasingly adopting electronic health records (EHRs), largely because of their practicality and precision in handling patient data. These systems make it simple to save data, retrieve it when needed, and access health information from many locations, which improves both patient care and administrative effectiveness.
EHR systems can also cut down on paperwork and save time, which will ultimately increase patient satisfaction. The capacity of EHR to expedite processes and improve the general patient experience is what is driving their rising appeal among gynecologists and obstetricians. There is a lack of doctors in the American healthcare system, notably in gynecology, according to the 2019 OB-GYN Workforce Study. Up to 8,800 obstetricians and gynecologists will be needed less in 2020, according to the American Congress of Obstetricians and Gynecologists (ACOG). By streamlining the workforce, digital transformation can address the labour shortage.
Recent Developments:
- In Dec 2021, InSync Healthcare Solutions has been acquired by Qualifacts + Credible.InSync's highly flexible, clean, and straightforward platform has been added to Qualifacts + Credible's range of EHR solutions. The purchase enables the combined business to serve a wider mental health and human services market by providing innovation, technology, customer support, and complementary products.
- In September 2020, the assets of Athenahealth, a provider of OB/GYN EMR software, were purchased by Cerner Corporation.
Competitive Landscape:
Some of the major OBGYN EHR market players are:
- InSync Healthcare Solutions
- Practice Fusion Inc.
- WRS Health
- Bizmatics Inc.
- Greenway Health LLC
- CureMD Healthcare
- NXGN Management
- Infor-Med Inc.
- EndoSoft LLC
- RevenueXL Inc.
Market Segmentation:
The OBGYN EHR market is segmented on the basis of product outlook and application outlook. Based on product outlook, the market is segmented as Client-server-based HER and Web-based HER. By application outlook, the market is segmented into Scheduling, Billing, Clinical Documentation, and Workflow Management.
Based On Product Outlook, The Web-Based EHR Segment Is Accounted As A Major Contributor In The OBGYN EHR Market
In 2022, the web based EHR segment accounted for the biggest portion of total revenue, 55.4%. This was brought about by the widespread use of web based EHRs by healthcare providers of all sizes. Web-based EHRs can be set up and utilised without the requirement for internal servers and can be improved and customized to meet the demands of the users.
Billing Segment Witness Growth At A Rapid Rate
During the projected period, the billing application segment is anticipated to have the greatest CAGR. Complex billing and reimbursement codes as well as a growing emphasis on lowering billing errors can be credited with this growth. Compared to conventional paper-based approaches, the introduction of electronic health records has made the process of medical coding and billing simpler. Data entry into computerized systems is more practical and effective, lowering the likelihood of errors and enhancing total billing accuracy.
In The Region, The North America OBGYN EHR Market Holds Significant Revenue Share
With a 46.7% market share in 2022, North America held the majority of the market. Policies encouraging the use of EHR and the availability of infrastructure with high levels of digital literacy are significant drivers of its expansion. Additionally, stronger payer and healthcare provider support for HCIT adoption is anticipated to boost market expansion. The market is being driven by supportive government initiatives for population health management. According to the Office of the National Coordinator for Health Information Technology (ONC), 96% of hospitals and 78% of physicians in office settings in the United States will be using electronic health records by 2021.
OBGYN EHR Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.62 Bn |
|
Revenue Forecast In 2031 |
USD 3.42 Bn |
|
Growth Rate CAGR |
CAGR of 8.8 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product, By Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
InSync Healthcare Solutions, Practice Fusion Inc., WRS Health, Bizmatics Inc., Greenway Health LLC, CureMD Healthcare, NXGN Management, Infor-Med Inc., EndoSoft LLC, and RevenueXL Inc. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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