New Release: Orthopedic Software Market Growth, Opportunities, Key Players, Regional Outlook and Forecast 2025
COVID-19 Impact on the Orthopedic Software Market
Due to the outbreak of COVID-19 globally, medical practices of all sizes are under immense pressure, and healthcare providers need to rely on telehealth solutions to monitor and treat patients. In this regard, EHR solutions are proving to be beneficial in improving the efficiency of billing by optimizing and simplifying billing with correct codes and reducing manual errors. EHR solutions also incorporate new and recommended interim ICD-10, LOINC, COVID-19 SNOMED-CT, and CPT codes. Such codes are helping in easy billing and revenue management during the COVID-19 pandemic.
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In the last few months, remote or virtual training and operation have fast replaced traditional methods. Training on a virtual simulator can be realistic and the ability to perform surgical steps countless times without additional cost per attempt makes this an attractive training and an effective measure to combat the current situation. Another advantage of simulation training is that skills can be measured and evaluated in a standardized manner. Virtual reality training has been shown to improve technical skills in orthopedic surgery and may need to be integrated into the orthopedic world. This might boost the growth of this market.
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Opportunities: Availability of orthopedic software as cloud-based solutions and their use in mobile platforms
The healthcare industry has witnessed several advancements in the field of information technology. Moreover, owing to the rising use of smartphones and tablets, mobile applications are increasingly penetrating the?orthopedics?market. The combined benefits of mobility, accessible interfaces, storage capacity, and wireless access make these solutions perfect for use by orthopedic surgeons. These solutions enable easy access to reference information from any location and facilitate easy sharing of images, videos, and audio clips among orthopedic surgeons. Currently, most of the orthopedicians are utilizing these technologies to increase the accessibility to patient records from remote locations, thereby improving workflow efficiency. According to a study conducted by HIMSS, in the US, nearly 75% of clinicians used mobile technology to collect patient data in 2018 as compared to 30% in 2011.