High Implementation Costs
Restraining Computerized Physician Order Entry Systems Market Growth in
Emerging Economies
The Computerized
Physician Order Entry (CPOE) Systems Market can be analyzed in five major
regions: North America, Europe, Asia Pacific, Latin America, and Rest of the
World. Prime factors driving growth in North America and Europe include growing
demand for paperless environment to minimize human error, decreasing delay in
order completion, and the need for reducing treatment costs. Furthermore,
increasing government pressure to automate healthcare facilities is also fueling
growth of the computerized physician order entry systems market. However,
demand for CPOE systems in Asia Pacific and Latin America is increasing with
increasing pressure on reducing costs and medication errors. Also, better
storage and management of patient’s information record and increasing need to
minimize records retention costs is also projected to propel growth of the
computerized physician order entry systems market in the near future. On the
other hand, lack of professionally trained workforce and major capital
investment involved in installation of the system is hindering demand for
computerized physician order entry systems in the emerging economies.
A computerized physician order
entry (CPOE) system, also called Computerized Provider Order Entry, is a
healthcare information system that electronically captures and stores
physician's instructions and helps improve efficiency of patient-care
management. The CPOE system ensures proper collection and transfer of patient’s
health data between laboratories, clinics, pharmacy, laboratory, radiology. and
other healthcare agencies. Physicians and pharmacists can view patient status,
enter orders, document their details, and share information in an easy-to-use
patient record.
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Computerized physician order
entry system has a number of advantages such as reduction in length of stay,
non-repetition of tests, reduced turnaround time for laboratory tests, and
enhanced cost savings. Moreover, CPOE is also highly beneficial as it
integrates clinical decision support system (CDSS) and electronic health record
(EHR) system, ensuring the utmost cost-effectiveness.
Popular systems in the
computerized physician order entry systems market: PatientKeeper, Cerner CPOE
system, Horizon Expert Orders, GE and Mindfire CPOE Software solutions
Digital Transformation of Medicine
is Exemplified by CPOE System
Use of CPOE system significantly
aids in reducing prescription and dispensing errors, reducing costs, improving
patient care, and enhancing workflow automation. A study published in Applied
Clinical Informatics in 2014 stated that increase in use of CPOE led to 63%
drop in length of hospital stay. According to a study by the Agency for
Healthcare research and Quality, by the end of 2015, around 84% of the federal
acute care hospitals had implemented CPOE systems. In outpatient settings,
around 50% of them had installed by the end of 2014. However, according to EHR
Intelligence, CPOE systems failed to flag-off 39% of potentially harmful
orders. A number of companies offer novel software and systems for the
monitoring and controlling of health information.
Some of the major companies
operating in the computerized physician order entry systems market are Cerner
Corporation, McKesson Corporation, Athenahealth, Inc., GE Healthcare, Epic
Systems Corporation, and Allscripts Healthcare Solutions, Inc.
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Key Developments
Key players in the market are
involved in various business strategies such as partnership and collaboration.
In April 2019, GE Healthcare entered into partnership with a technology service
company Nasscom to encourage startups eco-system to work on digital healthcare
solutions in India. This partnership will provide low-cost medical devices
along with tech-enabled diagnostics.
Key players are involved in
various business strategies such as collaboration and partnership to gain
competitive edge in the market. In August 2019, Cerner Corporation, a global
health platform and innovation company entered into partnership with
LifeCenters to provide primary care, fitness programs, and pharmacy to
geriatric population living in the U.S.
Major players in the market are
involved in various strategies such as product development to gain competitive
edge in the market. In August 2019, Cerner Corporation, a global health
platform and innovation company announced the development of Cerner Learning
Health Network, which will assist clinicians more easily and effectively to
gain health insights and guide care.
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