E-prescribing, also known as electronic prescribing, is the computer-based, electronic generation and transmission of a medication prescription, taking the place of paper and faxed prescriptions. The terms e-prescribing and e-Rx refer to the electronic prescribing of medications. When prescriptions are electronically transmitted using computer technology, it is possible to automatically check for drug-drug and drug-allergy interactions. In addition, e-prescribing can help to reduce medication errors, such as wrong dosage, wrong medication, and wrong patient.
E-prescribing systems are web-based applications that link a prescriber, typically a physician, to a pharmacy. The systems allow the prescriber to electronically send a prescription to a pharmacy. The pharmacy receives the prescription electronically and can dispense the medication to the patient. In some cases, the patient can also request a refill of their prescription electronically.
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Key Trends
There are several key trends in e-prescribing technology. One is the use of electronic health records (EHRs). EHRs can help physicians keep track of patients’ medications and allergies, as well as laboratory results.
Another trend is the use of clinical decision support tools. These tools can help physicians make better prescribing decisions by providing them with information about drug interactions and allergies.
Finally, many e-prescribing systems now allow patients to request refills online. This can improve patient convenience and satisfaction.
Key Drivers
PBMs and health plans can gain greatly from e-prescribing. Studies have shown that higher formulary adherence, better medication utilisation reviews, and fewer mistakes when the prescription claim is adjudicated can result in lower drug expenditures and improved plan performance. Because fewer prior authorizations are required when the medication formulary is taken into consideration at the time of prescription, PBMs gain from the administrative process’ simplicity. If PBMs or health plans are able to offer feedback at the moment of prescription, such as a patient’s previous claim history from other prescribers, there may be chances in the future to improve medication utilisation. Payors that use PBMs and health plans to manage their pharmacy benefit, including employers, can receive savings from reduced administrative costs and better medication use. PBMs and health plans can also use e-prescription software to create electronic guidance, or clinical decision support systems, which incentivizes physicians to adhere to accepted prescribing practices.
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Market Segments
The E-prescribing Market has been segmented into Component, Delivery Mode, Usage Methods, Substances, Specialties, End User, and Region. Based on the Component, the E-prescribing market is segmented into Hardware, Systems & Solutions, and Services. Further, the Systems & Solutions segment is bifurcated into Integrated Solutions and Standalone Solutions. Similarly, the Services segment is sub-segmented into Support & Maintenance Services, Implementation Services, Training & Education Services, and Network Services. On the basis of Delivery Mode, the market is bifurcated into Web/Cloud-Based and On-premise. Based on Usage Methods, the market is bifurcated into Handheld and Computer Based Devices. On the basis of Substances, the market is classified into Controlled Substances and Non-controlled Substances. Based on Specialties, the market is segmented into Oncology, Sports Medicine, Neurology, Cardiology, and Others. On the basis of End User, the market is segmented into Hospital, Office-based Physicians, and Pharmacy. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
Some of the key players of E-prescribing market are Ashtons (UK), AdvancedMD, Inc. (US), Cerner (Oracle Corporation) (US), Chetu Inc. (US), DrFirst.com, Inc. (US), iCoreConnect (US), Networking Technology, Inc. (RXNT) (US), NXGN Management, LLC (US), Office Ally, Inc. (US), Optum, Inc. (US), Practice Fusion, Inc. (US), Surescripts, LLC (US), Tebra Technologies, Inc. (formerly known as Kareo, Inc.) (US), Veradigm LLC (US), and Wolters Kluwer N.V. (Netherlands).
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