Citing the incentive program from the Centers for Medicare and Medicaid Services, a new report from an Indian research firm predicts that the use of electronic health records will experience significant growth over the course of the next three years and perhaps even further.
The report, U.S. Healthcare IT Market Analysis, produced by industry research company RNCOS, estimates that the electronic health records market will grow at an annual rate of 24 percent between 2012 and 2014.
This growth is expected to occur despite the fact that many current healthcare professionals feel uncomfortable with new technology and feel that electronic tools are not necessary to improve quality. Efforts by the federal government to encourage electronic health records adoption are expected to overcome these hurdles.
"Healthcare reforms and implementation of e-health system in the country will pave way for the future growth of the market," the report states.
Additionally, the authors of the report cite increasing investment in electronic health records from private companies in the U.S., and expect this to kickstart further growth in the industry.