A computerized physician order entry (CPOE) system also known as Computerized Provider Order Entry, a healthcare information system that electronically captures and stores physician’s instructions and helps improve efficiency of patient-care management. The CPOE system ensures proper collection and transfer of patient’s health data between laboratories, clinics, pharmacy, laboratory, radiology, and other healthcare agencies. Physicians and pharmacists can view patient status, enter orders, document patient’s details, and share information in an easy-to-use patient record. Computerized physician order entry system has number of advantages such as reduction in length of stay, non-repetition of tests, reduced turnaround time for laboratory tests, and enhanced cost savings. Moreover, CPOE is highly beneficial as it integrates clinical decision support system (CDSS) and electronic health record (EHR) system, which ensures utmost cost-effectiveness.
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PatientKeeper, Cerner CPOE system, Horizon Expert Orders, GE, and Mindfire CPOE Software solutions
The computerized physician order entry systems market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. Major factors that are driving growth of the market in North America and Europe include growing demand for paperless environment to minimize human error, reducing delay in order completion, and need for reducing treatment costs. Furthermore, increasing government pressure to automate healthcare facilities is expected to fuel growth of the computerized physician order entry systems market over the forecast period.
However, demand for CPOE systems in Asia Pacific and Latin America is increasing with increasing pressure on reducing costs and medication errors. Moreover, better storage and management of patient’s information record and increasing need to minimize records retention costs is also expected to propel growth of the computerized physician order entry systems market over the forecast period. Furthermore, lack of professionals and major capital investment involved in installation of the system are expected to hamper demand for computerized physician order entry systems in the emerging economies, which is further expected to hinder market growth in these regions over the forecast period.
Usage of CPOE system significantly aids in reducing prescription and dispensing errors, reducing costs, improving patient care, and enhancing workflow automation. According to a stat published in the Applied Clinical Informatics in 2014 stated that increase in use of CPOE led to 63% drop in length of hospital stay. Moreover, according to a study by the Agency for Healthcare research and Quality, in 2015, around 84% of the federal acute care hospitals had implemented CPOE systems. Moreover, in outpatient settings, around 50% of them had installed by the end of 2014. However, according to EHR Intelligence, CPOE systems failed to flag-off 39% of potentially harmful orders. A number of companies offer novel software and systems for the monitoring and controlling of health information.
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Some of the major companies operating in the computerized physician order entry systems market include Cerner Corporation, McKesson Corporation, Athenahealth, Inc., GE Healthcare, Epic Systems Corporation, and Allscripts Healthcare Solutions, Inc.
Key Developments
- Key players in the market are involved in various business strategies such as partnerships and collaborations. For instance, in April 2019, GE Healthcare entered into a partnership with a technology service company Nasscom to encourage startups eco-system to work on digital healthcare solutions in India. This partnership will provide low-cost medical devices along with tech-enabled diagnostics.
- Key players are focused on various growth strategies such as collaborations and partnerships to gain competitive edge in the market. For instance, in August 2019, Cerner Corporation, a global health platform and innovation company entered into a partnership with LifeCenters to offer primary care, fitness programs, and pharmacy to geriatric population living in the U.S.
- Major players in the market are focused on various growth strategies such as product development to gain competitive edge in the market. For instance, in August 2019, Cerner Corporation, a global health platform and innovation company announced the development of Cerner Learning Health Network, which will assist clinicians more easily and effectively to gain health insights and guide care.