Add to Technorati Favorites New Compass Intelligence Research: Healthcare IT Market Expected to Reach $73.1 Billion in 2010

New Compass Intelligence Research: Healthcare IT Market Expected to Reach $73.1 Billion in 2010

by htaylor 16. June 2010 08:54
New research from Compass Intelligence shows that the Health Care IT market is primed for continued growth over the next five years.  Compass Intelligence expects health care organizations including hospitals, doctors’ offices, private practices, clinics and other health care organizations to spend an estimated $73.1 Billion this year on IT products, services and solutions. By 2014 expenditures are expected to climb to $85.0 Billion.  Healthcare IT spending is being driven by the government’s push for the market to adopt Electronic Health Records (EHR or EMR) backed by stimulus dollars, 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.“The federal stimulus funding in the HITECH Act has sparked the health care industry to invest in systems, software, and network infrastructure to support HER implementation,” says Stephanie Atkinson, Managing Partner at Compass Intelligence.   Ms. Atkinson also states, “The push for compliance is uncovering pent up demand and giving light to delayed technology investments.”  The interesting dynamic is that it is not just a matter of implementing new software, in fact, EHR is expected to impact the entire health care IT ecosystem.Other key findings include:
  • An increase in over $14 Billion from 2010 to 2014 in Health Care IT Expenditures
  • 4.5% Compound Annual Growth Rate over the next 5 years
  • $705.8 Million will be spent on Mobile Applications in 2010
 For more information or to learn more about our Healthcare research, click here: http://tinyurl.com/23j8vh4 About Compass IntelligenceCompass Intelligence, a global consulting and market analytics firm, specializes in segment and vertical market intelligence for the high-tech and telecom industries; and offers clients a tailored research experience through excellent customer support. Compass Intelligence provides subscriptions and research reports, insight videos, forecasts, competitive analysis, market data and expert recommendations on multiple markets. Find us on http://www.compassintelligence.com or follow us on Twitter (CompassIntel). 

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Tags:

Business IT | Economy | Federal Government | Government | Healthcare | Mobile Applications

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