Spending on hospital IT applications will increase from approximately $4.7 billion in 2009 to $6.8 billion in 2014, according to a paper published by Chicago-based HIMSS Analytics that offers a five-year forecasted spending analysis for U.S. hospitals.
The online publication, entitled, Essentials of the US Hospital IT Market – 4th Edition, uses data from the HIMSS Analytics Database to identify which technology applications are expected to receive more funding from the American Recovery and Reinvestment Act. It also reviews the impact of meaningful use on specific applications of the EMR that include order entry, clinical data repository, clinical decision support, computerized provider order entry and clinical and physician documentation.
The publication cites three areas to monitor related to future hospital spending during the next five years: IT infrastructures, ICD-10-CM encoding transition, and the new claims transaction format, known as v5010.
For more information about the publication, visit the HIMSS Analytics Web site.