The ever-increasing demand imposed on healthcare due to the increasing chronic conditions, especially with the growing aging population gives rise to the need of maintaining proper medical documentation of the patients by the health professionals. Formerly, all the health information of the patients was recorded on paper which resulted in the ineffective or poor time management and numerous medical errors. However, due to the advancements in technology, the electronic medical & health record (EMR &EHR) systems were developed for use in healthcare settings as they offered several benefits over the traditional paper documentation method. Some of these benefits include a reduction in medical errors, simultaneous accessibility of information by multiple caregivers, cost-effectiveness, efficient management of information, and support for clinical research; thus increasing patient care & safety.
The arrival of the mainframe computers made digitization of medical record information possible. However, they were available only to the organizations that could manage complex IT infrastructures. Further, with the development of mini & personal computers, there was the development of smaller footprint EHR software which could be accessed even by the smallest ambulatory practices at affordable prices. Eventually, this led to not only secure communication and data sharing with patients & other entities, but also more “lightweight” EHR systems delivered through digital offsite storage “clouds”. Also, with the proliferation of microprocessors into all manner of devices such as computers & smartphones, the medical & consumer devices are increasingly imbued with processing and networking capabilities, enabling the EHR systems to increasingly incorporate this information for a variety of care & efficiency purposes.
According to the U.S. Healthcare policy, with the development of rules and regulations, the efficient implementation of the EHR/EMR systems in various hospitals & healthcare organizations could be achieved in the U.S. In 1996, due to the growing issues facing healthcare coverage, privacy, and security in the U.S., the Health Insurance Portability and Accountability Act was eventually introduced & in order to stick to these laws, the organizations begun to use electronic systems. Also, when the budget for healthcare IT projects was doubled, a new sub-cabinet position of the National Health Information Coordinator was created. This further integrated an industry-wide adoption of electronic health record systems by 2014. This was then supported by ARRA – American Recovery and Reinvestment Act, which is a piece of legislation aimed at directing additional funding and incentives to healthcare professionals who adopt these electronic medical systems and follow the concept of “Meaningful Use” by 2014. Also, according to the University of South Florida, Eligible Professionals (EP’s) who did not implement EHR/EMR systems & demonstrate their “Meaningful Use” by 2015, experienced a reduction by 1% in Medicare reimbursements.
However, the next era of EHRs will not focus on functions & features; rather, they will focus on the changing face of health delivery models, such as patient-centered medical homes and Accountable Care Organizations, and reimbursement systems which include value-based purchasing, pay for performance, and bundled payments. Thus, growing advancements in technology will eventually increase the adoption of the electronic record systems; thus, boosting the demand for mobile computing carts and overall medical carts/workstations market globally. The global medical carts & workstations market is expected to grow at a CAGR of 14.2% to reach USD 6,223.6 million by 2023, according to the Meticulous Research®.
The major companies in medical carts & workstations market are Midmark Corporation, Harloff Company Inc., Capsa Healthcare, The Bergmann Group, Altus Inc., Enovate Medical, LLC, Medion Healthcare, Onyx Healthcare Inc., AMD Global Telemedicine, Inc., Howard Industries, Inc., Lakeside Manufacturing, Inc., CompuCaddy, GlobalMedia Group, LLC., JACO, Inc., AFC Industries, Inc., Bytec Group Limited, Parity Medical Ltd, Solaire Medical, Blue Bell Bio-Medical, Inc., Melrose Industries PLC, Miller Herman Inc., Omnicell, Inc., InterMetro Industries Corporation, Modernsolid Industrial Co., Ltd., and Medline Industries, Inc. among others.
Browse in depth Report: Medical Carts & Workstations Market- Global Opportunity Analysis and Industry Forecast to 2023