Patient Portal Market Size

Patient Portal Market Size

Patient Portal Market size exceeded USD 3.1 billion in 2020 and is anticipated to grow at a CAGR of over 14.1% between 2021 and 2027. Growing adoption of patient-focused models in healthcare settings by healthcare providers and payers is stimulating the market growth. To cope up with the evolving healthcare industry, many organizations have implemented the patient-centric healthcare (PCH) model over the years. Patient-centric approach with the acceptance of services including EHR and patient portals offer multiple benefits such as high productivity levels, better customer experience, and improving clinical outcomes by incorporating novel digital solutions. Healthcare payers & providers are utilizing the concept of consumerism to improvise services and deliver a better healthcare experience to their users that is further projected to render positive influence on the market expansion.

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However, several drawbacks associated with the use of patient portals such as data privacy, security concerns and high resource allocation for implementation & deployment may hinder the industry growth. The public access to patient portal augments the risk of data breach, unauthorized access to the portal, and misuse of the patient’s electronic protected health information (ePHI).

Rising concerns pertaining to security breach and data leaks might have negative impact on the market progression. Furthermore, patient portals contain clinical data comprising electronic protected health information (ePHI) that is eclipsed by the HIPAA Security Rule. As per the Security Rule, patient portal service providers and business associates are mandated to design efficient and administrative system that safeguards the confidentiality, integrity, and availability of ePHI. The Security Rule mandates and HIPPA compliances limit the integration and sharing of medical information, thereby limiting its use.

The COVID-19 outbreak arose as an unparalleled health crisis that has rendered positive impact on the patient portal market. The COVID-19 pandemic has incrementally surged the global disease burden accounting for significant mortalities. The pandemic also impacted the global economy as a whole, disrupting the multiple sectors and causing enormous financial adversities. Exponential growth in the patient influx and soaring hospital admissions have imparted enormous strain on the healthcare facilities and medical professionals. Owing to increased burden on the healthcare services, advanced modalities such as EHR were implemented to mitigate the disruptions caused by COVID-19 pandemic.

Patient portals that integrate with EHR were used for disease surveillance and contact tracing. It also helped in facilitating the detection of genetic susceptibility variants, channelizing to assessment of potential risk factors, complications, and drug repurposing. The use of these technologies aided real-time patient monitoring for early detection of complications, thereby promoting the application of adequate interventions and therapeutics. The COVID-19 pandemic promoted the adoption and use of digital healthcare services such as patient portals attributed to multiple functionalities and comprehensive range of applications.