Meaningful Use Criteria to Accelerate the Growth of Patient Portal MarketPublished On: March 12, 2016
Despite of growing influence of Information Technology in healthcare sector, patient portal’s remained in haze until now, cited to the fact that patients were not fully aware about its applications and uses. Moreover, from the hospitals point of view, it was, and it is still to certain extent is a difficult task for them to get patients to use these online portal. It is also been observed that many patients were not aware about whether their doctor has patient portal service or not. In addition, many physicians themselves found to be reluctant towards the implementation of patient portal service for their patients, cited to its initial cost requirements.
Many would believe that patient portal technology is IT’s dump on healthcare sector which is unnecessary, but since the introduction of Stage 2 Meaningful Use Criteria, which makes it compulsory for healthcare providers to make at least 5% of its patient population use patient portal. This compulsion has made healthcare community shed its nonchalant approach towards patient portal technology and serious efforts are now being made to incorporate patient portal in healthcare practices both from healthcare organizations and patients, cited to growing awareness about the benefits they can claim with this technology. The other initiatives like Accountable Care Organizations (ACO) of which success is largely dependent on the health information systems such as patient portal; this would indeed accelerate the adoption of patient portal among both care giver and care taker. With these compulsory and voluntary efforts being made to facilitate the use of patient portal technology would provide a great opportunity for the providers and other stake holders in this market.
The latest market research report published by Meticulous Research® on patient portal market titled “Global Patient Portal Market Outlook: 2015-2020”” analyzes the major drivers, restraints, opportunities, and challenges that have a long and short-term impact on its growth across the globe. According to this latest publication, the global patient portal market poised to grow at a CAGR of 16.2% to reach $1617.6 million by the end of 2020. The report states that North American region accounted for the largest share in patient portal market followed by Europe; whereas, Asia Pacific region provides significant opportunities for the growth of this market cited many technological advancements and healthcare reforms in the region backed by growing economies such as India and China.
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