Health Care IT is
poised for continued growth over the next five years. This is according to a new research from Compass Intelligence, a global consulting and market analytics firm. An estimated $73.1 Billion will be spent this year on IT products, services and solutions by health care organizations including hospitals, doctors' offices, private practices, clinics and other health care organizations. Compass Intelligence also expects expenditures to climb to $85.0 billion by 2014.
The government’s push for the market to adopt Electronic Health Records also known as EHR or EMR backed by stimulus dollars is driving the spending in Health Care IT. The spending is also driven by the investments in systems and networks to support new applications, and the adoption of mobile applications, hardware, and other software to support patient care, patient records, and next generation medical diagnostics and imaging.
In a release, Stephanie Atkinson who is the Managing Partner at Compass Intelligence said, "The federal stimulus funding in the HITECH Act has sparked the health care industry to invest in systems, software, and network infrastructure to support EHR implementation.” Ms. Stephanie also added that the push for compliance is uncovering pent up demand and giving light to delayed technology investments. Health care IT is now not limited to just implementing new software. The entire health care IT ecosystem is expected to be impacted by EHR.
As per the research findings by Compass Intelligence, there will be an increase of more than $14 billion in Health Care IT expenditure from 2010 to 2014. The compounded annual growth rate for the Health Care IT is expected to be 4.5 percent over the next 5 years. The research also expects $705.8 million to be spent on mobile applications in 2010.
For more information about the Health Care research from Compass Intelligence visit the URL
http://tinyurl.com/23j8vh4. An in-depth look into the Health Care industry, particularly its relation to IT and telecom spending, trends, insights, and industry specific announcements is considered in the research.
Subscriptions and research reports, insight videos, forecasts, competitive analysis, market data and expert recommendations on multiple markets are provided by Compass Intelligence. For more information on Compass Intelligence visit the website
http://www.compassintelligence.com.
