Clinical registry solution market heads toward $2 billion

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Specialized medical societies such as the American College of Cardiology and the American College of Surgeons sponsor clinical registries that collect observational data on patients with specific conditions or procedures, such as heart failure or arthroplasty. This "real" data helps hospitals improve the quality of care, meet federal and federal reporting requirements, and earn performance pay awards.

Q-Centrix, which provides technologies and services for hospitals to participate in registries, commissioned the Health Business Group to conduct a study on sizing and market growth . We found that the market will reach nearly $ 2 billion over the next five years. Q-Centrix offers a free download results.

Clinical registries have been around for decades, but in recent years they have become essential to the quality of health care delivery. Registries have demonstrated superiority over other approaches such as electronic medical records and traditional clinical trials, and are being adopted by accreditation bodies, commercial health plans, and federal agencies such as the FDA and the United States. the CDC.

Hospitals continue to gain experience with registers and derive more and more value over time. However, in a digital and automated world, registration is always a remarkably manual and time-consuming process. Each patient record for the registry must be "summarized" according to the specific requirements of that registry, and then submitted in a secure and accurate manner. Some registries provide software tools to help, but even then, the tool is only useful for a specific registry. This is heavy for hospitals that participate in multiple registries, a big problem since hospitals often participate in 10 or more hospitals.

Hospitals have streamlined other labor-intensive manual administrative processes through outsourcing. Medical transcription is a good example, where outsourcing and automation are now the norm. The same approach is adopted in the world of the register, which explains why companies like Q-Centrix prosper.

At the Health Business Group, we were delighted to conduct research in this dynamic and growing market, all the more so as there was very little published information on the subject. To formulate our projections, we looked at secondary data sources, leveraged the Health Group's knowledge base, and conducted interviews with dozens of hospitals, specialty companies, market experts, and researchers. participants of the industry. We also conducted an online survey of hospitals to develop a detailed understanding of industry trends and their root causes.

Health Business Group specializes in the assessment of healthcare markets and in the development of growth strategies and mergers and acquisitions for health sector companies and investors. For more information, contact us or visit our website .

By a Medical Affairs Consultant David E. Williams President of Health Business Group .

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