Patient Portal Market Worth $7.0 Billion By 2026 | CAGR: 17.6% | Grand View Research, Inc

The global patient portal market size is expected to reach USD 7.0 billion by 2026, according to a new report by Grand View Research, Inc. expanding at a CAGR of 17.6% over the forecast period.
 
SAN FRANCISCO - Nov. 6, 2021 - PRLog -- The global patient portal market size is expected to reach USD 7.0 billion by 2026, according to a new report by Grand View Research, Inc. expanding at a CAGR of 17.6% over the forecast period. The demand for Electronic Health Records (EHR) with a patient portal is expected to exhibit an upsurge over the forecast period, owing to the increasing demand, favorable government funding policies, and the continual technological advancements offered by the key industrial players.

Patient portal technology has emerged due to the introduction of the HITECH 2009 Act. It has become crucial for healthcare providers to understand patient perspectives in terms of health data. Patient portal solutions offer convenient usage and better care management. In May 2016, CureMD signed a pledge of Voluntary National Interoperability. This pledge stated that action plans to develop and implement rapid flow in healthcare information between providers, patients, and other concerned authorities are to be implemented.

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Over 130 million people in the U.S. suffer from at least one chronic condition. These conditions are responsible for around 70% of deaths in the U.S. each year, responsible for the deaths of 1.7 million Americans. Owing to the large target population in the region, the management of comorbidities has become challenging. Furthermore, the switch from volume- to value-based reimbursement is increasing the need for patient portal systems in North America.

The healthcare expenditure in the U.S. was estimated to be USD 2.6 trillion and is expected to reach up to USD 4.8 trillion by 2021. In 2021, the healthcare expenditure in the U.S. is anticipated to be around 20% of the total gross domestic product (GDP). The alarming increase in healthcare management costs will escalate the demand for patient portal software in the coming years. Besides, the government is focusing on higher investments and incentives to improve healthcare in the country by tracking public health.

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Some of the key market players in the patient portal market are Allscripts Healthcare Solutions, athenahealth, Inc., Cerner Corporation, Epic System Company, McKesson Corporation, GE Healthcare, Medfusion, and CureMD. In August 2018, Allscripts announced that it received accreditation from Healthcare Network Accreditation Program for Payerpath and ePAP accreditation for ePrescribe from the Electronic Healthcare Network Accreditation Commission.

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