Evidence-based optimism for health IT
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Health IT is the fastest growing segment of the $1 trillion global healthcare marketplace, and its 11 percent combined annual growth rate will likely continue through 2013, according to a report from the life sciences consulting firm Scientia Advisors.
Closer to home, health IT markets rallied in the third quarter to post the largest gains in more than a decade, outperforming broader markets, according to a transaction report from healthcare advisory company Healthcare Growth Partners (HGP). Several large mergers and acquisitions were announced or closed during the third quarter, the report noted. The priciest merger deal for third quarter paired Xerox and Affiliated Computer Services, a transaction announced in late September at a price point of $6.4 billion.
As more details of the ARRA and other federal measures are hammered out, the local forecast is for continued robust growth: Health IT expenditures in the U.S. will be heavily weighted toward inpatient and outpatient EHRs and meaningful use requirements, the Scientia report said.
Overseas, big health IT buys are good news for US companies. One case in point: Singapore General Hospital, a 1,500-bed facility, has implemented the EclipsysSunrise Patient Flow solution, which uses RFID tags and a real-time location system to automate workflow related to patient movements. The system enables the staff to reduce the amount of time they spend behind the computer and devote more time to patient care, according to Eclipsys, based in Atlanta. Interfaces enable Sunrise Patient Flow to share information with ancillary and administrative systems.
Is this growth in Health IT a sign of better times ahead? Are you planning a major IT implementation at your facility? Please contact me at mstevens@trimedmedia.com.
Mary Stevens
Editor