COVID-19 hampers some EHR projects; regulation to support upgrades

CLEVELAND, May 21, 2020 /PRNewswire/ — US expenditures on electronic health records (EHRs) are forecast to advance 6.5% yearly in nominal terms through 2024, according to Electronic Health Records: United States, a report recently released by Freedonia Focus Reports. Vendors will benefit from ongoing regulatory requirements and continued growth in medical service spending, which will allow healthcare providers to install new EHR systems or replace older systems, and purchase ongoing hosting, maintenance, and support services. Medicare penalties for noncompliance with EHR meaningful use requirements will support implementation efforts by healthcare providers that have not implemented EHRs or those using noncompliant systems. EHR expenditures by nursing and residential care facilities – the fastest growing segment – are projected to