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Nursing Home and Long-Term Care Information Systems Market Opportunities, Strategies, and Forecasts, 2006 to 2012
WinterGreen Research, Inc., May 2006, Pages: 335
The third quarter of 2005 continued a trend of positive developments in the healthcare information technology marketplace. A significant development was the publication of RAND's peer-reviewed study that indicates healthcare information technology could save the country's healthcare system $162 billion annually through improved efficiency, disease management and reduced adverse drug events. This study provides large-scale, independent, quantified proof of the impact healthcare information technology can have.
Home care providers are able to achieve an increase of 37% in administrative productivity after the installation. Presenting technology infrastructure improvement solutions needs to be accompanied by building a business case for solutions. If the technology does not address a business problem then the outcome results in disappointment.
Vendors seek to increase market share in individual domains. They seek to penetrate the existing client base with more functionality. Continued growth is expected in clinical domain systems for specific markets such as nursing, physician office, laboratory, pharmacy, radiology, surgery, emergency medicine and cardiology. As institutions look to restructure and reengineer these high-cost centers, IT promises more efficient operations.
Homecare front end, backend, integration, and medical information system software is targeted to non-acute health care distributors. This market has been highly fragmented. Consolidation in the market is causing significant change in the industry.
Products are differentiated in the market based upon the granularity of the offerings and the ability to meet the specific needs of the homecare providers.
The homecare market is changing. New services needed in the home include intravenous (IV) therapy, pain control, and basic needs services delivery. Delivery of new services depends on systems integration. Delivery of these services depends as well on automation of the reimbursement process. The ability of the existing homecare dealer network to deliver advanced services in the home is limited in part by an inability to bill for those services. New systems fulfill that need.
U.S. homecare information are expected to reach $2.6 billion by 2010. U.S. homecare information systems markets are expected to grow at 17% per year in 2003, with the growth rate accelerating to 25% per year on average through 2010. Market forces for growth relate to the efficiency and efficacy of homecare services delivery.
Worldwide homecare information systems markets at $285.7 million in 2005 are expected to reach $1.2 billion by 2012.
Homecare information systems, SOA, services, wireless, records systems market segment forecasts indicate strong growth for the homecare automation markets. The use of an electronic record that creates bills is a basic process efficiency aspect. Markets at $1.8 billion are expected to reach $4.8 billion by 2012.
Key Topics
Nursing Home and Long-Term Care Information Systems Market Shares, Forecasts, and Distribution
Nursing Home or Skilled Nursing Facility
Private Vs. Public Nursing Homes
Nursing Home Information Technology Industry
Nursing Home Care Options
Nursing Home Information Systems
Requirements
Toolkits
Services
Product Technology
Web Services
State-Of-The-Art Security
Health Insurance Portability & Accountability Act (HIPAA)
Report Methodology
This is the 276th report in a series of market research reports that provide forecasts in communications, telecommunications, the internet, computer, software, and telephone equipment. The project leaders take direct responsibility for writing and preparing each report. They have significant experience preparing industry studies. Forecasts are based on primary research and proprietary data bases. Forecasts reflect analysis of the market trends in the segment and related segments. Unit and dollar shipments are analyzed through consideration of dollar volume of each market participation in the segment. Market share analysis includes conversations with key customers of products, industry segment leaders, marketing directors, distributors, leading market participants, and companies seeking to develop measurable market share. Over 200 in-depth interviews are conducted for each report with a broad range of key participants and opinion leaders in the market segment.
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