Black Book: Expect big HIE market growth by 2014
The health information exchange (HIE) market will experience massive growth in spending by 2014 even though industry technology executives are exploring adoption rather than implementation at this point, according to a new survey from Black Book Rankings.
The survey of 4,000 healthcare and insurance organization executives, found that the majority of U.S. hospitals (80 percent) and physicians (97 percent) have yet to implement an HIE system. The report also found that 28 percent of respondents are cautiously increasing HIE spending before the end of 2012, but eight of 10 providers expect organizational HIE budgets to significantly increase by 2014.
Ninety-five percent of all providers expect to be included in at least one HIE interface by July 2013 and almost all providers (98 percent) with HIE strategies in place will focus entirely on community or regional exchanges for the foreseeable future, rather than national health record exchange initiatives.
"The current driving forces of HIE adoption are clearly apparent: accountable care implementation, meaningful use implementations, the need for care coordination, outcome-based reimbursement challenges, available funding, and opportunities for regional stakeholder participation," Black Book Senior Partner Doug Brown said in a statement.
The survey of 4,000 healthcare and insurance organization executives, found that the majority of U.S. hospitals (80 percent) and physicians (97 percent) have yet to implement an HIE system. The report also found that 28 percent of respondents are cautiously increasing HIE spending before the end of 2012, but eight of 10 providers expect organizational HIE budgets to significantly increase by 2014.
Ninety-five percent of all providers expect to be included in at least one HIE interface by July 2013 and almost all providers (98 percent) with HIE strategies in place will focus entirely on community or regional exchanges for the foreseeable future, rather than national health record exchange initiatives.
"The current driving forces of HIE adoption are clearly apparent: accountable care implementation, meaningful use implementations, the need for care coordination, outcome-based reimbursement challenges, available funding, and opportunities for regional stakeholder participation," Black Book Senior Partner Doug Brown said in a statement.
Beth Walsh,
Editor
Editor Beth earned a bachelor’s degree in journalism and master’s in health communication. She has worked in hospital, academic and publishing settings over the past 20 years. Beth joined TriMed in 2005, as editor of CMIO and Clinical Innovation + Technology. When not covering all things related to health IT, she spends time with her husband and three children.