Here is a look at the EHR vendors market share throughout the years:
2021
In 2021, Meditech had 16% of the hospital market share, according to a KLAS report. In that same year, the EHR vendor lost 3,458 beds.
But, Meditech was the only major vendor to record acute care hospital migrations during 2021, with 14 wins, according to KLAS.
2022
In 2022, Meditech had 16.3% of the market share and 14% of hospital beds, according to KLAS Research.
Additionally, Meditech’s legacy customer retention rate — which has historically been 40% to 50% — saw an increase reaching 84% in 2022. According to KLAS, this was due to a large health system’s decision to migrate from Magic to Meditech’s Expanse platform.
2023
In 2023, Meditech had 16% of the acute care EHR market share and 13.4% of hospital beds, according to KLAS research.
In the same year, Meditech saw its customer retention dip. KLAS found that this dip was due to merger and acquisition activity, while the remaining losses were “more competitive.”
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.