e-Prescription Market Growing Rapidly

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e-Prescription Market Growing Rapidly

E-prescribing systems allow healthcare professionals to submit and receive prescriptions electronically either through standalone e-prescribing software or modules integrated with electronic health record software. E-prescriptions help reduce medication errors and improve quality and efficiency of patient care by:

  • Actively promoting appropriate drug usage
  • Providing information to providers and dispensers about formulary-based drug coverage
  • Speeding up the process of renewing medications
  • Increasing medication adherence

According to a 2013 report by Markets & Markets, a U.S.-based global market research and consulting company, the e-prescribing market was expected to grow at a compound annual growth rate of 26 percent over the next four years. It was expected that by 2017, the market would likely be worth about $794 million worldwide. It is now estimated to reach a value of $887.8 million by 2019. This is in large part due to the continuous work done by market leaders such as PrognoCIS to develop innovative, easy to use e-prescribing solutions and increase awareness among providers.

In the United States, e-prescribing is encouraged by federal incentive programs, such as the EHR Incentive Program, which focuses on the meaningful use of electronic health record software. Standards for “Meaningful Use” are defined by the Centers for Medicare and Medicaid Services – and e-prescribing is an important component of those standards. It not only helps improve patient health but overall patient safety as well.

e-Prescribing of Controlled Substances (EPCS)

Misuse of controlled substances is a common problem with medical prescriptions, and one resolution is e-Prescribing of Controlled Substances (EPCS), which is now allowed in all 50 states. EPCS enables providers to better manage the substances they prescribe. PrognoCIS EHR has offered an EPCS module since 2013 to help providers with:

  • patient satisfaction via convenient prescriptions and refills at the click of a button
  • patient safety by automatic documentation to track controlled substances
  • pattern analysis with built-in data on prescription usage

PrognoCIS EHR has integrated with Surescripts to offer e-Prescription services along with EPCS and Medication Management for Adherence to our providers. Read more about the e-prescription features offered by PrognoCIS EHR.