Radiology Information System Market– Statistics And Analysis & Forecast To 2026Posted by Mrudula Anil Karmarkar on April 7th, 2022 The global radiology information system market size is expected to reach USD 1.15 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.7% during the forecast period. The market is majorly driven by an increase in the adoption of advanced technologies in healthcare facilities. Growing usage of digital healthcare infrastructure, which helps collect and manage information generated by hospitals, clinics, and institutes, has enhanced the efficiency and effectiveness of their services. Moreover, an increase in the number of patients suffering from chronic diseases coupled with rising demand for cloud-based systems are expected to boost the market growth. Potential opportunities for healthcare IT in reducing operating costs incurred while record keeping and meeting regulatory standards for privacy, as well as efficient hospital workflow management, are among other factors driving the uptake of Radiology Information System (RIS). Furthermore, it is expected that these systems will, in the long run, save money and allow organizations to earn significant profits. Cloud-based RIS can be integrated with Artificial Intelligence (AI) algorithms to form a comprehensive radiology software. Such AI tools, allow physicians to provide accurate and faster diagnosis and can be integrated with any third party AI tool. For instance, the RADSpa by Telerad Tech is a software platform consisting of RADSpa PACS and Viewer & RADSpa 2D/MPR/MIP/3D Viewer that enables receiving, storing and sending DICOM images along with managing the physician workflow. To Request Sample Copy of this report, click the link: Computerized medical imaging provides interactive documents that are secured and convenient. These documents can be accessed across various healthcare departments. RIS provides a communication link between primary physicians and imaging departments for better care coordination, which can be beneficial for timely diagnosis or treatments to the patients. Such factors are anticipated to bode well for market growth. Radiology Information System Market Report Highlights
Healthcare providers using certified RIS software are eligible to receive financial incentives. The care providers need to demonstrate stage 2 meaningful use of the software. Eligible professionals receive upwards of USD 63,750 from Medicaid and upwards of USD 44,000 from Medicare. This government initiative is a major contributor to the increased adoption of RIS software by the radiologists and medical imaging professionals. Traditionally, radiology service providers used RIS to track individual images and associated data. However, with the extensive use of EHR platforms and the wide adoption of digitized images and PACS systems, radiology departments include a comprehensive clinical workflow of the entire medical facility within the RIS. Some of the major players operating in the RIS market are Allscripts; Cerner Corporation; Epic Systems Corporation; McKesson Corporation; GE Healthcare; Siemens Healthcare; Philips Healthcare; Merge Healthcare; and MedInformatix, Inc. The market is characterized by an increase in partnerships and acquisitions to strengthen the market presence of the players. Like it? Share it!More by this author |