Strategies by which Personal Health Record Vendors Increase Market Share
![Strategies to promote widespread adoption of electronic, integrated Personal Health Records in the US Nisha Sankaran Wanvisa Tosomoboon Value of Personal Health Records The objective of this report is to identify ways in which Personal Health Record (PHR) vendors can increase their market share. Currently, PHR use is increasing, however adoption is low and virtually non-existent across a variety of market segments. Users are mostly high income, highly educated, Caucasian, male, and young. By recognizing barriers to consumer adoption and overcoming such barriers, vendors have the opportunity to capture a significant portion of a burgeoning market. Personal health records are essential in healthcare because they provide an array of tools that empower patients to . . . ,[object Object],[object Object],[object Object],[object Object],Use of PHRs is on the Rise in the US 2008: 2.7% Two “FREE” Products: Google Health vs Microsoft Health Vault Immunization Page www.myhealtharchive.com Conclusions There are No Guarantees! Based on a review of 20 references published since 2008, there is no consensus about the future of the PHR industry, but companies like Microsoft continue to develop their product. ,[object Object],[object Object],[object Object],[object Object],[object Object],Acknowledgements Mentors Dr. Kimberly Smith, Dr. Michael Stearns and HIT Program Coordinator, Dr. Diane Kneeland and Program Director, Dr. Leanne Field provided us with much needed guidance and feedback. Thank you! nishasankaran@gmail.com [email_address] Selected References Abstract Examples of PHR Vendors Figures 1 and 2 are internet-based, untethered PHRs which are free to users . Figure 3 shows a fee-based product with varying prices and features. ,[object Object],[object Object],[object Object],Recommendations by which PHR Vendors Might Successfully Increase Market Share 2009: 7.0% Home Page Figure 3 ,[object Object],[object Object],[object Object],[object Object],Figure 1. Figure 2. Top 3 Barriers to Market Growth Barriers Solutions to Barriers Patients are concerned with privacy and security of healthcare data ,[object Object],[object Object],[object Object],[object Object],Physician doesn’t use EHR; does not voice support for PHRs ,[object Object],[object Object],Patients will not use PHR even if easily accessible ,[object Object],[object Object]](https://image.slidesharecdn.com/phrvendorsincreasemarketshare-12806981158055-phpapp02/75/strategies-by-which-personal-health-record-vendors-increase-market-share-1-2048.jpg?cb=1668692353)
Strategies by which Personal Health Record Vendors Increase Market Share
Highlights of research: *Usage more than doubled from 2.7% in 2008 to 7% in 2009. However, current users are not those who can use it the most (elderly, chronically ill, low-income) *Top barriers to use: privacy concerns, lack of physician support of phr use, patients not compelled to use phr (associated solutions offered) *Conclusions: Though many varying opinions, very little data to support clear concensus of direction of PHR industry. However, companies such as Google and Microsoft are continuing with PHR product. *Recommendations: PHR vendors should parter with fitness/medical device products and charge interface fee, Generate revenue through advertisements on home page of PHR record, Partner with insurance companies, hospitals, physician offices, employers as preferred PHR vendor. Please review poster for more details including differences between Google and MS Health Vault, a fee-based PHR model and risks.
