VARs stalling entry or trying to expand their presence in the healthcare IT sector had better get moving if they want to cash in sooner rather than later. A new report from Compass Intelligence forecasts that in 2010 alone upwards of $73.1 billion will be spent on IT solutions in the healthcare market.
VARs Poised to Profit as Healthcare IT Spending Continues to Grow
(
Page 1 of 2 )
During the economic downturn, previously forecasted gains in market growth crashed across a variety of industries. However, healthcare IT remained a growth industry, fueled by a variety of factors, including new legislation outlining deadlines for the move to electronic medical records (EMR). This year alone, market research firm Competitive Intelligence predicts the healthcare IT market to reach $73.1 billion, with a forecasted growth into 2014 of over $14 billion.
The federal stimulus bill passed last year is, of course, a big driver for the move to electronic medical records. The “pay for performance” federal incentives are rapidly motivating doctors and hospitals that have not yet done so, to move to electronic health systems. Organizations that make the investment will enjoy higher incentive payments on Medicare and Medicaid beginning in 2011. Organizations that do not move to an EHR system will suffer penalties, beginning in 2015.
Beyond stimulus and federal regulation, healthcare IT spending is also being driven by a need to increase the efficiency of monitoring and providing care to a rapidly growing percentage of an aging population as well as reducing liability of healthcare companies. To accomplish all of these goals, investments in systems and networks that support new applications, as well as the adoption of mobile applications, hardware, and other software to support patient care, patient records, and next generation medical diagnostics and imaging are all on the docket for the healthcare industry.
But even if you can’t ink a reseller deal with an EMR vendor, you can ride on the coattails of ongoing EMR implementations to provide supporting technology and solutions.
"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," says Stephanie Atkinson, Managing Partner at Compass Intelligence.
"The push for compliance is uncovering pent up demand and giving light to delayed technology investments."
Stop Searching. Start Finding.
Find the trusted vendors and products that will meet your needs, compare the top solution and connect vendors in one place. Before you order the next, data management, office automation or IT hardware solution visit TechDirect. Click Here
Free 30-Day Endpoint Security Trial: VIPRE Enterprise
Optimize overall performance by melding antivirus, antispyware, client firewall and malicious website filtering together into one powerful engine. This combination of technologies gives you high-performance software that doesn't slow down users' PCs, is low on system resources, and makes it easy for you to protect your network. Click Here!
Using a technique called "flow switching," researchers from MIT are developing a model Internet that is significantly faster and more energy-efficient than today's technologies. Learn More
