Stimulus to fuel steady growth in health IT spending, Compass Intelligence says

Fueled by the federal stimulus program, the U.S. market for health IT will expand to $85 billion in 2014 from an estimated $73.1 billion this year, representing a 4.5 percent compound annual growth rate, reports Compass Intelligence. EHR investment will have an impact on the entire health IT "ecosystem," according to Scottsdale, Ariz.-based Compass.

"The federal stimulus funding in the HITECH Act has sparked the healthcare industry to invest in systems, software and network infrastructure to support EHR implementation," Stephanie Atkinson, managing partner at Compass Intelligence, says in a company statement. "The push for compliance [with meaningful use] is uncovering pent-up demand and giving light to delayed technology investments."

Compass Intelligence also forecasts that spending on mobile applications in healthcare will total $705.8 million in 2010, or less than 1 percent of the overall health IT market. That figure does not account for purchases of mobile devices or services, however.

For more information:
- see this Compass Intelligence blog post
- have a look at this CIO Update story
- order the series of reports

Related Articles:
IT spending, staffing levels casualties of the economy for many healthcare executives
Report: Hospital IT spending to hit $6.8B by 2014
Survey: IT leaders confident of increased healthcare IT spending
Study: Healthcare IT spending growing, despite broader IT slowdown

Post a comment