As the U.S. health system transitions to value-based care, there is a need for more longitudinal and patient-centric records that can be updated in real time, according to a March 2 health IT report from market researcher PitchBook.
PitchBook analyzed VC and PE investment trends in healthcare IT in quarter four of 2022 and found the following EHR trends:
- Epic, Cerner and Meditech account for almost 75 percent of the hospital market share.
- Athenahealth and Modernizing Medicine are the top vendors for surgical centers and larger physician groups.
- The EHR and clinical information market will reach $47.1 billion by 2026.
- EHR and clinical information startups raised $84 million in funding in the fourth quarter of 2022, 25 percent less than the year prior.
- The number of EHR vendors is continuing to decrease since a wave of new vendors entered the market in the early 2010s, according to the report.
- EHR documentation requirements are some of the leading causes of provider burnout.
- Technology must help gather data for patient records so they can be used to inform referral choices, ensure patients follow through with providers, get records to multiple providers and longitudinally track patients' journeys.