While some industry research firms have forecast a slowdown in the electronic health records market after 2013, Millennium Research Group predicts strong revenue growth for the next half-decade.

A new report from Toronto-based MRG predicts the EHR software market will grow at an annual rate of more than 12 percent through 2016, hitting $8.3 billion that year. Medicare reimbursement penalties for non-compliance with meaningful use requirements starting in 2015 will continue to support EHR demand as stragglers race to automate, according to the Toronto-based firm.

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