Report: EHR Market to Hit $6.5B in 2012

The U.S. market earned revenues of $973.2 million in 2009 and total market revenues are expected to peak at $6.5 billion in 2012, primarily due to new licensing and upgrades as hospitals scramble to get certified EHR systems in place, according to a report from market researcher Frost & Sullivan.

“Revenues are expected to retrench some after 2013 due to increased market saturation and growing price competition,” the report, titled “U.S. Hospital EHR, 2009-2016: Charting the Course for Dramatic Change,” continued.

Since 2009, hospitals’ interest in EHRs has skyrocketed, primarily due to financial subsidies provided by the U.S. government’s HITECH Act, where the rate of hospital EHR adoption is expected to expand significantly over the next several years, particularly for advanced EHRs designed to meet meaningful use criteria, according to Frost & Sullivan...