re IT market has two major divisions - provider IT and payer IT. Provider IT includes clinical IT and non-clinical IT solutions. Under Clinical IT solutions, the prominent segment is EHR, offered by several key players such as Epic (U.S.), McKesson Corporation (U.S.), Cerner Corporation (U.S.), Siemens Healthcare (Germany), G.E Healthcare (U.K.), and Allscripts Healthcare solutions (U.S.). Of all players, Epic has emerged as dominant player to implement and integrate EHR solutions, connecting more than 250,000 physicians.
New product launch, agreements and collaborations, and acquisition and mergers are some of the major strategies adopted by players in order to gain advantage over their competitors and ensure long-term growth. Of all strategies, new product launch was widely adopted by key players in order to meet the needs of healthcare providers and payers. During 2010 to 2012, the industry witnessed 70 new product launches and 53 different agreements and collaboration by players in the market. For instance, in January 2013, GE Healthcare launched Centricity Practice Solution 11, the next generation of its fully integrated EMR and Practice Management solution. This new product seeks to simplify the data entry process required for medical providers to comply with new ICD-10 coding requirements, enabling them to customize workflow efficiently.
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