Google, Microsoft, Apple and Amazon
are among the top companies predicted
to be vying for a stake in the EHR market
Non-traditional EHR tech companies vying for stake in market
June 20, 2018
by
John R. Fischer, Senior Reporter
Providers interested in obtaining the latest in EHR technology may want to keep a close eye on what Google, Microsoft, Apple and Amazon have in store.
That is the recommendation of Kalorama Information, whose latest report places the four among the top technology companies predicted to revolutionize the field over the next several years with a number of projects currently in the works.
“These large tech players have much more programming and R&D resources than the existing EHR players, who are generally confined to making improvements and fixes to software itself,” Bruce Carlson, publisher of Kalorama Information, told HCB News. “Existing EHR players, such as Epic, Cerner, Change and Allscripts, will still be in the market. They will still own market share and installed base. But it is prestigious for a hospital to say they are working with Apple or Google. That's not a small factor in the hospital business, where consumer image and trust are essential.
Approximately 97 percent of U.S. non-federal acute care hospitals use a certified EHR, while approximately 84 percent of U.S. hospitals have adopted a basic system, estimates that support the predicted rise in the market’s value from $29.7 billion to $39.7 billion by 2022.
But EMRs have also caught the eye of non-traditional players looking to capitalize on its capabilities and technological enhancements. Google, Microsoft and Apple are three of these players who, between 2013 and 2017, tallied up a more than 300 healthcare patents.
Google put out the highest number at 186, focusing on investments made in its DeepMind initiative for developing mobile alerts that inform clinicians when a patient’s condition deteriorates; and Verily, its healthcare and disease research entity.
The California-based tech giant is also developing Liftware Level, a spoon that allows people restricted in movement to feed themselves; a diabetic glucose monitoring contact lens; wrist computers for monitoring nanoparticles injected into the bloodstream; implantable devices for modifying electrical signals and medication robots; and health and fitness apps and devices.
Seventy-three were filed by Microsoft for the expansion of its AI technology and the development of chronic disease monitoring technology, including Microsoft Genomics for cloud-based genomic processing; Microsoft Azure Security and Compliance Blueprint: HIPAA/HOTRUST – Health Data and AI for an end-to-end application development foundation to enhance cloud efficiency and safety; and Microsoft Intelligent Network for the creation of an AI-focused network in cardiology.
Other endeavors on its radar are Microsoft 365 Huddle Solution Templates for the development of collaboration tools that drive quality and care outcomes; Project InnerEye for integration with TeraRecon and Intuitive Surgical; and Project Empower MD, a system that studies and learns the actions performed by physicians in different situations.
With 54 patents, Apple is working to add biometric data monitoring for blood pressure and body fat and algorithms for predicting irregular heart rates to its iPhone technology.
Industry insights indicate that Amazon may also be vying for a stake in the EHR market and is working with a secret project team called 1492 on a variety of innovations, including the extraction and enhancement of the usefulness of EHR data; the development of a telemedicine arm for virtual doctor and patient consultations; and the addition of Alexa development skill into EHRs.
In addition, 1492 recently extended its existing Amazon products, Amazon Echo and the Dash Wand, for use in healthcare settings.
Carlson says the involvement of big tech players like Google or Apple can assist in overcoming a number of challenges associated with big data, such as access to, standardization, collection, and distribution of information, as well as its use in predictive analysis.
“It's a positive indicator for the EHR market and vendors in the market," he said. "Their involvement is indicative of the amount of spending in this market. More vendors and entrants boost a market. Big data can be used to identify behavior patterns in a patient or population and forecast outcomes. It remains to be seen, however, whether future systems from large tech players will build upon existing Epic or Cerner systems or have a system that works from A to Z.”
More than 55 key industry officials, consultants, healthcare providers, and government personnel were interviewed for this study. Additional interviews included marketing directors, division managers and product representatives.
The findings listed are based on primary and secondary research sources and were based on revenues for EHR systems; CPOE systems; and services such as installation, training, servicing and consultation. PACS and hardware were not included.