According Millennium Research Group (MRG), the Toronto-based medical technology market intelligence company, the emergency department information system market was worth $110 million in 2010 and will grow by more than 30 percent in 2011 due to the American Recovery and Reinvestment Act (ARRA). Funding from this program will benefit the emergency department information systems the most in hospitals as facilities attempt to meet meaningful use requirements.
To help stimulate the economy, the US government initiated the ARRA in 2009. As part of the act, President Obama incorporated the HITECH Act, which included funding estimated at over $40 billion for electronic health record adoption to help facilities and physicians improve the quality of health care delivery. By providing incentive funding, facilities and physicians that normally would not be able to afford or be inclined to install an electronic health record would now have the means and motive of adopting one—those that do not will be penalized beginning in 2015 with reduced Medicare reimbursements.
MRG's US Markets for High-Acuity Information Systems 2011 report provides insight into trends that will fuel and limit market growth for high-acuity information systems in the US, with coverage of emergency department, critical care, and perioperative information systems. The report includes a breakdown of unit volumes, average selling prices, market values, installed base, and market shares in each market segment.
Get the latest information on Health IT and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.