The Future of Healthcare Records: Document Management Trends
By Space Coast Daily // August 7, 2023
The market for cloud-based medical records management is expected to exceed USD 5.83 billion by 2030, growing at a compounded annual growth rate (CAGR) of 14.91%, according to a Market Research Future (MRFR) report.
This only emphasizes the importance of document management in the medical environment. Another logical conclusion is that cloud-based solutions and other technologies will be the leading trend for patient privacy.
Hospital visits have been on the rise due to the increasing prevalence of chronic diseases worldwide. This has become a key factor driving market growth. Additionally, paper medical records are prone to loss or damage in the event of natural disasters like fire or flood. Converting medical documents to digital formats helps streamline document workflows, regardless of project size or file type. Physically retrieving paper documents from archives and delivering them to different departments is time-consuming. However, digitized medical document management systems (DMS) shorten retrieval time without any physical effort. This trend not only enhances market growth but also strengthens the bond between the healthcare industry and automation/digitalization.
Document Management Trends in Healthcare
Growing concerns about data security and privacy are impeding the expansion of the market. As digital platforms become more prevalent, apprehensions have escalated surrounding the safeguarding of personal information. The utilization of modern medical DMS technology has given rise to new vulnerabilities and privacy issues. Data breaches, identity theft, cyber-attacks, and various other factors hinder market growth. According to the Cybersecurity Ventures Report, hackers caused an estimated $6 trillion worth of damage in 2019. The increased frequency of cyberattacks poses a threat to multiple sectors, including retail, Medical Record Scanning and Management Services, and government.
#1 Digital Fax
The number of mobile health apps is constantly growing, as is the share of digitalization of the entire niche. This leads to an increase in the need for digital workflow. Electronic Fax is a secure and fast way to transfer healthcare records between branches. All you need to do to implement the technology is to download on the App Store and master it. The fax app is capable of receiving, sending, and storing data.
#2 Cloud-Based System
With the evolving regulations and HIPAA requirements, it’s crucial to prioritize the protection of your systems and, in turn, your patients. Thankfully, most cloud-based EMR software offers SSL security as part of your leasing fee. This ensures that every time you access the system, you can rest assured that your data is safeguarded. For server-based EMR systems, rely on the security measures set up by your IT department, including firewalls and other safety measures. Generally, an EMR system remains secure unless human error interferes. Implement encryption to provide an additional layer of protection for your system.
When it comes to choosing the best EMR software for your practice, you have two options. Would you prefer installing an internal server and running your EMR on-site? Or would you rather use a cloud-based (or web-based) EMR? Remember to do your research before selecting an EMR or EHR system – choose the one that suits your needs the best!
Advantages of the cloud system:
- Medical records stored in the cloud – Cloud-Based EMR Software
- Most web-based systems are hosted in secure data centers. You can access them using a mobile device, tablet, or computer with a web browser.
- A cloud-based system allows you to access your data anytime, anywhere.
- Initial costs are lower, but you’ll have monthly payments in the long run.
- Cloud-based systems require less hardware. You won’t need to buy or maintain a server or additional equipment – any workstation with internet access will suffice.
- You’ll have fewer worries about disaster recovery, data backup, and physical security.
One drawback is that since you don’t control the system through your IT department, internet outages or line failures could hinder access to billing or patient charts.
#3 Global Medical Documents Management Systems
The market for Global Medical Documents Management Systems can be segmented into different categories including Solutions, Services, End Users, and Regions.
Under Solutions, there are Standalone Medical Document Management Solutions, Document Scanning Software, Electronic Document Management Software, and Integrated Medical Document Management Solutions.
Services include Medical Record Scanning and Management Services, Product Support Services, Implementation & Integration Services, Maintenance, Support, and Optimization Services, and Training & Education Services.
The market is further categorized by End Users, such as Hospitals and Clinics, Insurance Providers, and Other Healthcare Institutions. Lastly, the market is divided by Region, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Growing data privacy concerns are challenging the healthcare industry. Those who can provide sufficiently confidential solutions will be a priority for clients who care about their privacy. On the other side of the barricades will remain those who will work with old technologies.
However, just one scandal or data leak and their authority will be greatly shaken. The choice is yours: to be at the forefront of the technological world and respond to the needs of patients or ignore them.