A research study titled, Patient Portal Market by Product, Deployment mode and End User – Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the patient portal market is projected to be around $6 billion by 2025.
A patient portal is a secure website that gives convenient online access to personal health information to the patients which can be accessed from anywhere through an internet connection. Some of the common functionalities provided by patient portals include, scheduling doctor’s appointments, accessing health records, ordering prescription refills, viewing lab results and sending secure email messages to healthcare providers and viewing health educational material. With the implementation of patient portals, healthcare institutions can improve patient–provider communication thus facilitating effective healthcare delivery. Patient portals can significantly increase operational efficiency for healthcare providers and at the same time reduce healthcare costs for patients. With fewer office visits and phone calls per patient, the quality of care can be considerably improved by the adoption of patient portals.
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A patient portal provides a single and customizable point of access to the patients for different applications and information which results in tremendous value for them. Moreover, a patient portal can significantly accelerate the timeliness of collection of forms and other information that the providers may need from their patients. Such forms for instance, medical history related forms can be customized in certain cases to request additional information from the patients which may be of critical importance for the providers. Integrating patient portals with other systems such as practice management system (PMS) and electronic health record (EHR) systems can largely facilitate aggregation and interpretation of large volumes of patient related data which can in turn assist in improving the quality of healthcare delivered to the patients.
Some of the key factors driving the global patient portal market are, increasing adoption of technologically advanced systems such as EHRs by the healthcare fraternity, favorable government initiatives for implementing healthcare IT solutions and increasing awareness related to convenience offered by patient portals among the patient community. However, factors such as data security and privacy issues and high cost of implementing and deploying sophisticated patient portal systems can restrain the growth of patient portal market during the forecast period.
In 2016, integrated patient portals segment held the major share of the global patient portal market as they function as an extension to an existing system such as an EMR or an EHR. As they offer a convenient medium to converge data from multiple systems, the segment is expected to show favorable growth during the forecast period. With respect to the deployment mode, web-based deployment segment dominated the patient portal market in 2016 whereas; cloud-based deployment segment is anticipated to grow at the fastest rate during the forecast period. With respect to end users, providers segment held a major share of the patient portal market in 2016 owing to large scale adoption of patient portal applications by healthcare providers for managing patient engagements and communications.
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Some of the key players operating in the global patient portal market are, Intelichart, Epic Systems Corporation, CureMD Healthcare, NextGen Healthcare Information Systems, LLC (a part of Quality systems, Inc.), , General Electric Company, Medfusion Inc., All scripts Healthcare, LLC, eClinicalWorks, LLC, McKesson Corporation, Greenway Health, LLC, Cerner Corporation and athenahealth, Inc.
Key Findings of the Research Study:
- Integrated patient portal segment held a major share of the global patient portal market in 2016 owing to the convenience of integrating patient portals with other systems such as EHRs for enhanced access to patients’ health related data.
- Web-based deployment segment held a dominant share of the patient portal market in 2016 whereas cloud-based deployment segment is expected to grow with double-digit CAGR throughout the forecast period due to their affordability and efficiency of data access.
- Providers segment dominated the end user market for patient portals in 2016 due to large scale adoption of patient portal systems by healthcare providers in order to enhance patient-provider communication and gain higher operational efficiency.
- North America dominated the global patient portal market by securing a major market share in 2016 whereas, Europe patient portal market is projected to grow with highest CAGR during the forecast period owing to increasing demand for advanced healthcare delivery mechanisms.
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