Market Definition
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.
Market Outlook
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.
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.
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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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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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.
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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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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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