The Electronic Health Records Market Is Expected to Exceed $39 Billion By 2026

Financialnewsmedia.com News Commentary

PALM BEACH, Fla., June 17, 2021 /PRNewswire/ -- In the past few years, in many countries, the adoption of electronic medical records technology is upsurging at a fast pace and is creating a new and growing global market… The Electronic Health Records Market (EHR). It is occurring because of the realization of the masses that to gain top-quality care at lower costs, implementation of a robust health information technology (HIT) is extremely vital. EHR is used extensively in clinical applications, such as decision supports, results management, order entry and support, and health information and data. It is also used in healthcare financing, as well as administrative applications.  A recent report from Fortune Business Insights said that the global electronic health records (HER) market is set to gain momentum from the introduction to artificial intelligence (AI) in the healthcare industry. AI not only helps clinicians in diagnosing a patient's condition, but also recognizes historical trends of the patient.   The report further states that the EHR market size stood at USD 26,200.48 Million in 2018 and is projected to reach USD $39,913.16 Million by 2026, exhibiting a CAGR of 5.4% during the forecast period.  Active companies in the markets this week include Teladoc Health, Inc. (NYSE: TDOC), NxGen Brands Inc. (OTCPK: NXGB), 111, Inc. (NASDAQ: YI), 1Life Healthcare, Inc. (NASDAQ: ONEM), CloudMD Software & Services Inc. (OTCQB: DOCRF) (TSXV: DOC).

The report added that the: "Ability to Reduce Cost of IT Support Will Accelerate Growth of Web-based Segment. In terms of product, the market is grouped into on-premises and web-based. Out of these, the web-based segment is expected to showcase significant EMR market revenue and lead throughout the forecast period. It is attributable to their easy installation process where technicians don't have to work with complex infrastructure to host data. All these works can be easily done through the Internet and hence, it doesn't require IT support and lowers additional cost.  Geographically, the market is divided into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Amongst these, in 2018, North America procured USD 12,123.12 million EHR market revenue. This growth is attributable to the presence of flexible regulatory scenario, favorable government policies, and rising digitalization in the healthcare sector in the U.S. In Asia Pacific, the market would exhibit lucrative growth fueled by the increasing initiatives by key vendors to explore the untapped countries in this region."

NxGen Brands Inc. (OTCPK: NXGB) BREAKING NEWS:  NxGen Brands, Inc. Enters Into A Definitive Agreement To Acquire 100% Of Healthcard LLC; Acquisition Brings Company Ownership Of Proprietary Patent Pending Patient Centric Universal Health Recording & Payment Card Technology - NxGen Brands, Inc. is pleased to announce the Company has entered into a definitive agreement to acquire 100% of HealthCard LLC ("HealthCard"), a technology company, that has a U.S. patent application pending for a patient-centric health recording and payment system. HealthCard, filed U.S. patent application number 15/944867 with the patent office on 2019-10-10 for System and Method for Patient-Centric Universal Health Recording and Payment.

Website: https://healthcard.co/

The Application is pending.  https://uspto.report/patent/app/20190311791

The Technology can be implemented as follows:

HealthCard is a digital health card where users can view and share medical profile information and medical history on your mobile phone.  The HealthCard allows for users to access their medical profiles and history all at once, prescriptions, pharmacy, doctors and latest COVID-19 updates and vaccines.  The mobile app includes a database of users that can connect with any pre-authorized third party recipient. 

Therefore, HealthCard can be integrated onto any on-demand thirty party delivery platform allowing RX prescriptions to be delivered directly to your doorstep.  Users can request home delivery directly on the app from any local pharmacy. 

Pending patent will be registered so Blockchain technology is included in the storage side of the server records.  This ensures not only a HIPPA compliant secure medical backend that will be used as a universal registry to control medical and/or cannabis related information.  The secure card can be implemented as a solution for real time update of user's databases in real time across the Internet in a secure format.  The system will allow for immediate identification of system abuse while documenting the consumption of the patient.  Access to the medical record by authorized viewer in real time adds to the benefits that the infrastructure allows to be accomplished.  Also, will avoid any system misuse while ensuring locally and abroad, an authorized database which is patient driven, doctor controlled and government ensuring transparency and compliance at all levels of the structure.  Integration of a digital form of the ID card will allow authentication via biometrics, confirmation of location via GPS, interaction via camera if required and overall access in real time to critical information relating to the health of the user.

Angel Burgos, the Company CEO said: "This system can be incorporated both as a smart ID card with NFC/Infrared and other technologies or simply pair it with a smart phone with included capabilities and that alone would be enough to use the technologies behind the solution. In addition, this can be integrated at corporate level and has governmental applications which can be designed with our core technology structure.  We can with the endorsement of corporate or government, setup a third-party authentication system so business or government can "verify" vaccine status in a secure and unassuming format without exposing additional information."  CONTINUED…   To read this and more news for NxGen Brands, please visit:  https://www.financialnewsmedia.com/news-nxgb/ 

Other recent developments in the markets include:

Teladoc Health, Inc. (NYSE: TDOC), the global leader in whole-person virtual care, recently reported financial results for the first quarter ended March 31, 2021. 

Highlights Were: Raises full-year guidance as first quarter revenue grows 151% year-over-year to $453.7 million, with total visits increasing 56% to 3.2 million; Reports the number of consumers enrolled in more than one chronic care program tripling year-over-year as they choose Teladoc Health to meet a broader whole-person need set; Announces substantial progress on integration, including launch of Medical Group referrals into chronic care management programs and a significant new whole-person care contract with a regional Blue Cross Blue Shield plan on the East Coast; and Finds continued favorable consumer trends, particularly among Millennials, who are showing a greater sustained propensity to use digital health than other generations.

111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China, recently announced its unaudited financial results for the first quarter ended March 31, 2021.

"We delivered another strong quarter of growth in Q1 2021, with net revenue of RMB2.6 billion. This was achieved despite the typical seasonal retail lull caused by the Lunar New Year, as well as the unusually strong first quarter we had in 2020, driven by high demand for pandemic-related products due to COVID-19," said Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111.

"As part of our commitment to advancing China's healthcare system, we continue to build upon our transformative, cutting-edge technology and S2B2C model to provide enterprise solutions to enable healthcare businesses better serve their consumers. Our top line growth is driven by our S2B2C model, and is a testament of the tremendous progress in our mission to digitally connect patients with medicine and healthcare services."

1Life Healthcare, Inc. (NASDAQ: ONEM) recently announced financial results for the first quarter ended March 31, 2021.

"Through our human-centered and technology-powered model, we continue to perform, innovate, and grow to delight more members with better health, better care, and lower costs," said Amir Dan Rubin, Chair & CEO of One Medical. "In Q1 we continued demonstrating significant impacts by delivering record membership additions, showcasing reductions in total cost of care, and developing new markets and health network partnerships. Today, we are pleased to announce new plans to enter Dallas-Fort Worth, Texas with Baylor Scott & White as a health network partner. In addition to our nationwide telehealth services, we will soon deliver combined telehealth plus in-person care across 22 markets, extending the reach of our model to markets covering nearly 40% of the U.S. commercially-insured population. As we continue to expand across the nation, our results demonstrate how One Medical can transform healthcare at scale."

CloudMD Software & Services Inc. (OTCQB: DOCRF) (TSXV: DOC), a healthcare technology company revolutionizing the delivery of care, recently announced that it has closed the previously announced acquisition of Rx Infinity Inc., Rxi Pharmacy Inc., and Rxi Health Solutions Inc. (collectively "Rxi"), enhancing its specialty health services to patients, providers, insurers, and corporations in Canada.

Rxi's pharmaceutical logistic services include drug distribution, patient navigation assistance, a preferred pharmacy network of over 500 pharmacies and real-time universal disease management software. As a proven solution to the currently siloed healthcare system, Rxi's combined offerings provide a one-stop solution and centralized platform that breaks down treatment barriers by offering a team-based, real time, longitudinal approach to patient care and disease management. Rxi oversees several national and provincial patient support programs currently specializing in Oncology, Infectious Diseases and Inflammatory Bowel Disease (IBD). Rxi will be expanding its offering, launching a number of additional support programs in the imminent future. The company also provides administrative and drug benefit management services to a large third-party benefits provider, servicing more than 300,000 patients across Canada. Rxi is licensed as a National Wholesaler (GMP-certified) and is approved by Health Canada.

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