United States EHR Cloud Computing Market

US EHR Cloud Computing Market Analysis

The United States EHR Cloud Computing Market is expected to register a CAGR of 11.58% during the forecast period.

• The COVID-19 pandemic is expected to have an overall positive effect on the market. It has driven an increased understanding of the potential of cloud technologies, which provide data storage and computing resources managed by external service providers to help enhance EHR's safety, quality, and efficiency.
• Cloud computing in healthcare has carried a huge shift in the creation, storage, consumption, and sharing of medical data. The development of the healthcare cloud computing market is mainly driven by factors such as the growing adoption of EHR, e-prescribing, telehealth, mHealth, and other healthcare IT solutions due to COVID-19.
• The rise in the adoption of EHR increased the use of cloud-based EHR software, the rapid surge in the aging population, and the subsequent rise in the number of chronic diseases drive the market growth in the United States. Moreover, the increase in adoption of big data analytics, IoT, and wearable devices, and increased cloud deployment in the healthcare sector due to the benefits such as scalability of data, flexibility, increased storage, and cost efficiency of cloud is driving the cloud-based EHR market.
• However, the high cost of EHR and increased concerns regarding patient data safety & security are expected to impede the market growth. Moreover, the huge market potential in the United States is expected to offer further opportunities for market growth during the forecast period.
• Increasing number of mergers and acquisitions to boost the market growth. In December 2021, Oracle announced the acquisition of EHR vendor Cerner. The acquisition will help medical professionals with a new generation of easier-to-use cloud-based tools that enable access to information via a hands-free voice interface to secure cloud applications.

US EHR Cloud Computing Market Trends

Government initiatives to boost healthcare IT usage

• The United States government is taking initiatives by investing in developing a cloud-based healthcare system in the country. In June 2021, the U.S. Department of Health and Human Services (HHS) Office of the National Coordinator for Health Information Technology (ONC) announced the establishment of the USD 80 million Public Health Informatics & Technology Workforce Development Program (PHIT Workforce Program) to strengthen U.S. public health informatics and data science.
• Health and wellness supporting technology demand in terms of cloud-based EHR solutions is expected to increase during the forecasted period, and beyond that, the need for services is expected to surge owing to the increased consumer spending capabilities and normalization of such solutions and services over time.
• Moreover, In March 2021, MediQuant, a healthcare provider of enterprise active archiving and conversion solutions, announced that it had been selected by the U.S. Defense Health Agency (DHA) to help consolidate all clinical data across the Military Health System as it transitions to a new enterprise electronic health records (EHR) platform by 2024. The company maintains the patient record and relevant information through a cloud-based software platform.
• Furthermore, In January 2022, the Defense Department deployed its new electronic health records system, the Military Health System GENESIS, to 19,000 new users in 100 different locations in Texas. Such instances are expected to promote the growth of the EHR cloud computing market in the United States.

Increasing cloud deployment in healthcare industry

• The cloud-based EHRs have the potential to incorporate and organize patient health information and encourage its instant distribution among all authorized providers involved in a patient's care. For example, EHR alerts can be used to notify providers when a patient has been in the hospital, allowing them to proactively follow up with the patient. Additionally, EHR cloud computing can reduce the time providers spend doing paperwork.
• The US EHR cloud computing market is witnessing partnerships and mergers to help develop data security in EHR cloud software. For instance, In January 2022, MEDITECH, a cloud-based EHR vendor based in the United States, announced a partnership with critical access management provider SecureLink to improve health data security. The partnership is expected to enhance data security across the 2,300 healthcare institutions that use MEDITECH.
• Furthermore, On July 16, 2021, Amazon Web Services announced the launch of AWS for Health. AWS for Health will provide proven and easily accessible capabilities that will help organizations increase the pace of innovation, unlock the potential of health data, and develop more personalized approaches to therapeutic development and care. Amazon's AWS solution allows users to migrate electronic health record workloads to the cloud to increase performance and automate many traditional IT tasks. Such developments will drive the EHR cloud computing market in the United States.
• However, Cloud APIs and interfaces constitute the primary challenge to organizations attempting cloud computing interoperability. The lack of standardization in the cloud service providers restricts the data sharing between different cloud tools leading to portability issues.

US EHR Cloud Computing Industry Overview

The United States EHR Cloud Computing Market is witnessing a rise in competitiveness among companies. The market consists of major players, such as Epic Systems Corporation, NextGen Healthcare, Inc., and Cerner Corporation (Oracle). These significant players currently dominate the market. However, with increasing technology innovations, many companies are increasing their market presence by securing new contracts and tapping new markets.

• March 2022 - Microsoft Corp announced the acquisition of Nuance Communications Inc, a company that specializes in conversational AI and ambient intelligence. With their security-focused, cloud-based solutions infused with powerful, vertically optimized AI, the acquisition will enable organizations to accelerate their business goals. Customers will benefit from the improved consumer, patient, clinician, and employee experiences, as well as increased productivity and financial performance.
• October 2021 - NOVO Health, through its subsidiary NOVO Health Technology Group, announced a collaboration with Epic Systems to launch a cloud-based Epic EHR implementation across its community of healthcare providers using Microsoft Azure health IT. Furthermore, the cloud-based implementation allows providers to leverage additional Microsoft tools to improve care delivery and quality, such as Microsoft Power BI for advanced healthcare analytics.

US EHR Cloud Computing Market Leaders

US EHR Cloud Computing Market News

• May 2022 - Geisinger has chosen Amazon Web Services as its cloud vendor for EHR deployment. The health system based in Danville, Pennsylvania, will migrate its entire digital portfolio of over 400 applications and numerous workflows to AWS.
• November 2021 - EverCommerce Inc. announced the acquisition of DrChrono Inc., a California based company. DrChrono provides a cloud-based EHR, practice management, and billing solution to improve the knowledge, interaction, and personalization of healthcare. The business will modernize patient engagement while enhancing administrative and provider workflows.