HIT Consultant has published a report indicating there will be seven percent annual growth in the electronic medical records (EMR) market for the next five years.
The EMR market is expected to grow anywhere between seven and eight percent each year because physicians will face penalties if they do not adopt EMR systems by 2015. Physicians will see a one percent reduction in Medicare fees for 2015 if they do not have electronic records systems in place. By 2016, the reduction in fees will increase to a two percent reduction. In 2017, physicians who are still not using medical records will face a three percent decline in fees paid to them by Medicare.
EMRs are being pushed by the government through the imposition of penalties because electronic-record keeping has many benefits for patient care and for increased efficiency. Physicians and other care providers are increasingly embracing EMRs not just because of incentives the government has provided over the past several years and because of concerns about penalties but also because electronic records can help to improve health outcomes by making more patient information available.
Contact HealthTech Resources to learn more about expanding electronic medical records use within the medical industry.