E-prescribing is a software application that electronically distributes prescriptions from a patient's or end user's computer to a pharmacy of their choice. The primary goal of e-prescribing models in EHR or HIT systems is the efficient transmission and receipt of complete, accurate, and unambiguous prescription orders that aid in the optimization of pharmacy processing and fulfilment, thereby eliminating disruptions in workflow and delays in patient care.
Electronic Prescribing (E-prescribing) solutions are widely adopted among healthcare industry due to its benefits such as improved patient safety, fewer medication errors due to handwritten prescriptions, fewer medication errors due to misunderstood phoned-in prescriptions, and less risk of lost or misplaced written prescriptions. This in turn is expected to boost growth of the global e-prescribing market during the forecast period.
The hospital segment experienced the highest revenue increase in the worldwide e-prescribing market in 2018, and this trend is projected to continue in the future years. This is due to an increase in the use of computerised prescribing and medication administration systems, which provide benefits such as accurate communication among healthcare professionals and a reduction in adverse drug events, medication errors, and healthcare expenses.
North America has garnered high revenue share due to high adoption of e-prescription integrated systems and increase in adoption toward advanced healthcare technology products. This is a major factor to drive the growth of the e-prescribing market forecast. Moreover, as individuals in the region are inclining toward patient-centric solutions, the adoption of e-prescribing is helping physicians in the region to provide exquisite experience without the need to invest in time for visiting the hospital in non-emergence situations. Whereas, the ambulatory care institutes in the region have adopted e-prescribing solutions at a significant rate due to favorable government initiative toward public safety.
Several factors influence the worldwide e-prescribing industry, including favourable government efforts and incentive programmes, which have acquired popularity and have greatly impacted market growth. Furthermore, the increased focus on reducing fraud and abuse of controlled substances among healthcare institutions, as well as the necessity to contain growing healthcare expenses, are among the primary drivers expected to drive market expansion in the approaching years. However, worries about the security of electronic health record (EHR) data and complex workflow challenges involved with integrating e-prescribing into existing systems are limiting industry expansion to some extent.
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