Top 10 EHR Startups in 2020: The Secret of Rapid Growth
EHR startups are taking all the glory when it comes to digital transformation in the medical field.
Many EMR startups are rising to this occasion and bringing innovative products to the market. They aim to help healthcare workers and institutions streamline their work procedures.
Also, they help manage the patient records, manage the work, and monitor performances. Almost all the EHR and EMR software vendors can cater to both sides, the patient, and hospital management.
Depending on the usage, healthcare institutes or individual practitioners make the selection.
Market Statistics and Startups Landscape
These startups provide tech-savvy products with convenience to users. Several reports conclude that the EMR EHR software vendors show a growth of 5.5% in CAGR every year.
Crunchbase enlists around 350 startups working in the EHR domain. These startups have been successful in raising $2.8 billion together.
If anything, these figures show that software vendors working in the EHR and EMR domain have a high potential to generate revenue.
However, on the other side of the spectrum, EHR and EMR based startups are also failing. Some vendors start good, but they fail to reach Series A funding round. Or some of them realize that their product is not that profitable.
But that is the case with startups in any industry and not just EHR.
Overview of Top 10 EHR Startups to look for in 2020
We have curated a list of top EHR software companies working on innovative models.
Apart from the basic features like a patient portal and invoice generation, they have much more to offer.
Within these top EHR software, the companies also offer the in-built HIPAA compliant chat apps. This bridges the patient-doctor gap and increases engagement.
Further, you will find that they have e-prescribing, appealing UIs, and the ability to scan documents. Some top of the line startups are using AI and Machine learning to augment the performance further.
Above all, due to the global pandemic, the need for software vendors from EHR and EMR has increased.
Let’s have a look at the top EMR startups, which look interesting in 2020.
Many independent practitioners, psychiatrists, and other medical professionals like Practice Fusion. Like other startups in this domain, this EMR software uses smart tools to help manage the majority of the functions.
|Pricing Plans||They offer a free trial of a few chosen products and functions.|
To get the complete price structure, you need to ask for a quotation.
|Demand||Practice Fusion claims that over 150,000 medical practitioners utilize their software.|
This top EHR software has a higher volume of private practitioners than healthcare companies.
Doctors and physicians from all the fields cater to more than 5 million patient visits per week by using Practice Fusion.
One of the top EHR startups, Practo, makes it easier for doctors to connect with their patients.
This EHR software has tools for both doctors and patients, making it one of the top companies in this domain.
With Practo Prime, the doctors and physicians can streamline their work and handle patient records.
|Pricing||Unlike other software vendors, this top EHR has a diverse gamut of services.|
Depending upon your usage and extent of services required, you can ask for a custom quote.
|Demand||With a presence in over 17 countries, Practo’s demand stems from its heterogeneous portfolio.|
This software has tools for almost every brand of healthcare management.
It has dedicated tools for the common folk.
Further, hospitals, clinics, and private practitioners can leverage from the functionalities cut out for individual tasks.
hc1 is another one of the top EMR EHR software vendors that provide ease of access to doctors.
From the basic patient management portal to billing, testing, and diagnostic process management, it covers a lot of ground. Comparing it to other top startups offering EHR systems, hc1 is better in terms of CRM and patient interaction.
|Pricing||Hc1 works to benefit hospitals and private care providers in various ways.|
Hence, their pricing structure is dependent on the needs and requirements.
Therefore, to get a price quote, you need to fill out a form that will get you a demo version.
And open up channels for further discussion.
|Demand||Hc1 has a strong customer base with multi-speciality hospitals and care homes.|
The majority of the services and features cater to the internal healthcare systems.
Such top EHR software companies are driven by innovation.
In a time when the relationship management system market can reach $17.4 billion by 2025, hc1 is moving on the right path of development.
4. Akila Labs
Innovative startups have a better chance of becoming the top EHR software companies.
Akila labs is working with innovative methods and leverage the power of AI to build a smart ecosystem.
Akila Labs majorly focuses on preventive healthcare guidance. It helps patients and doctors get a better understanding of diabetes and how best to tackle it.
|Price||Akila Labs is one of the few future-ready startups working in the EMR domain.|
As far as the pricing is concerned, you can use it without any cost personally.
However, there is an ability to connect with a personal advisor at an affordable cost.
|Demand||Akila Labs is best for individuals who wish to take power in their own hands.|
With smart tracking and cognitive abilities, Akila AI can help users change their behavior.
The exact demand of such EMR startups is not prominent. This is because they are not yet fully ripe.
But once they gain traction, such a system will have a plethora of users and higher demand.
Kareo is one of the top EHR software companies working with cloud technology. Accessibility is not an issue with Kareo as it is a web-based software.
You will find some smart features like e-prescriptions, charting, and reporting in it. Kareo is one of the most appropriate EMR EHR software vendors for everyday tasks.
|Pricing||You have the freedom to choose from different features. Due to this, the pricing structure may vary.|
|Demand||Kareo caters to single and independent practitioners. This one of the topmost EHR startups boasts a rising demand curve.|
The independent practitioners find features like restricting access, responsiveness, and patient scheduling great.
CareCloud is one of the rising EMR startups in the healthcare industry. It works on the cloud and provides access to several advanced features.
It has the potential to compete with the top EHR software companies. Further, compared to other startups, CareCloud EHR is suitable for all the medical professions.
|Price||CareCloud offers 4 pricing plans.|
|Demand||CareCloud has got a mixed response from the healthcare community.|
Its market position is at par with other software vendors in the EMR or EHR domain.
However, the cloud-based EHR startups design is the key to its rise.
7. Elation EMR
Elation EMR is one of those startups that is born out of a need to help doctors. It will help clinicians and practitioners to reduce their staff. This is while the software takes care of various systems.
|Price||The pricing structure of one of the top EHR software companies is variable.|
Users can ask for a demo and identify the key features essential for your management.
|Demand||Cloud-based EHR or EMR software are in high demand among various healthcare vendors.|
Independent practitioners benefit from the impressive patient record system.
Plus, they find it easier to take care of the billing and invoicing.
MedCPU is one of the rising EHR startups working to provide cost-effective solutions.
With its innovative methods, MedCPU allows physicians to make accurate clinical decisions.
|Price||The pricing structure for this EMR startups is not available|
|Demand||This kind of tool is beneficial for doctors and physicians across the spectrum.|
Even though it is a new-age solution for doctors, the demand is still not soaring high.
This is one of the high performing EMR startups for iOS devices. drChrono takes one of the top positions in the EHR software companies due to its smart features.
Built with features like telehealth, EMR, and RCM, drChrono helps streamline the entire workflow.
A new age EMR and EHR software, drChrono helps healthcare vendors from 20 different fields.
|Price||Similar to other startups, this EHR software provider offers a custom pricing plan.|
You can select the services and functions required and get the final price.
|Demand||Software companies like drConnor provide top EHR systems. Due to this, their demand is also higher.|
drConnor suits independent practitioners. The reason being they require custom functions.
The Healthcare cloud solutions market will be worth $51.9 billion by 2024.
The rising demand further motivates startups to make better EHR solutions.
This multi-specialty EHR system is another amazing startups on our list. Phreesia works to help doctors and hospital management maintain precision patient records.
Further, it also works in the domain of telehealth to enhance the patient-doctor connection.
|Pricing Plans||Although this startup offers multiple solutions, we will focus on EMR pricing.|
You can request a demo and identify the key features you need.
Based on these features, you can obtain the price quote.
|Demand||Since it is one of the top companies offering more than EHR software, the demand for Phreesia is high.|
Recently, it was named the best KLAS for patient intake.
Hence, Phreesia is one of the high-performing EMR EHR software vendors catering to the hospital’s entire work culture or a clinic.
How to Choose an EHR?
Startups or established companies develop high performing EMR systems that help streamline the work process.
The thumb rule of choosing an EMR is to assess your needs. Lookin at top EHR software offered by companies, the myriad of features breeds confusion. But there is a solution to it.
Your EHR EMR software vendors must be able to cater to your needs and requirements. Identify the areas in which you are facing issues.
It can be anything like
- Patient appointments
- Workforce management
- Getting reports from labs
The list is endless.
You can also talk to your friends and colleagues to get recommendations. By 2024, the total EMR market value comparison of startups and companies will reach $40 billion.
It portrays the sheer scale of this industry.
Apart from this, you need to ask several questions before looking for suitable EMR EHR software vendors.
- What is the implementation cost?
- How is the learning curve?
- What are the Backup systems
- Is it HIPAA Compliant?
- Is it future-ready?
By answering these questions, you will be able to choose the top companies with the best EHR software for your healthcare organization or private practice.