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Analysis of the North American Cardiovascular Image and Information Management Systems Market
Frost & Sullivan, Jan 2012, Pages: 107
Assessing Growth Trends in Cardiology PACS and Integrated CVIS
This study covers the North American market for cardiovascular image and information management systems including cardiology picture archiving and communication systems (C-PACS) and cardiovascular information systems (CVIS) by examining drivers and restraints, revenue, units, and pricing forecasts as well as technology trends, procedure volumes, regulatory forces, and customer demand.
Market revenue is forecasted across market sub-segments such as the various imaging modalities comprising the cardiovascular care continuum, various customer segments making up the total market, and various solution types presenting distinct market opportunities. The base year is 2010, and forecasts are made until 2017.
EXECUTIVE SUMMARY
- Following in the footsteps of radiology but still many years behind as far as IT adoption, cardiology departments are still ramping up their workflow and data digitization processes.
- Unlike radiology IT, in cardiology, imaging data is less standardized, and digital images do not always replace of analog film-based images.
- With a less appealing return-on-investment (ROI) model, the adoption of IT systems for cardiology image management is evolving more slowly than with radiology IT.
- Cardiology customers are demanding and, at the same time, resistant to change, making it challenging for industry participants to achieve high satisfaction levels.
- There is already a significant amount of cardiology picture archiving and communication system (C-PACS) technology being used in catheterization (“cath”) and echocardiography (“echo”) labs in the United States.
- These legacy solutions consist mostly of aging stand-alone, disconnected single-modality solutions that use obsolete technology and are near the end of their lifecycles.
- Integrated multi-modality solutions are becoming the norm in cardiovascular image and information management systems (CIIMS), as the main market opportunity consists of replacing existing single-modality solutions.
- New generation multi-modality solutions allow consolidation of cardiovascular imaging from cath and echo labs as well as from nuclear imaging, computed tomography (CT) imaging, magnetic resonance (MR) imaging, vascular ultrasound, and intravascular ultrasound.
- Current C-PACS solutions are no longer limited to the image management function; they perform several information management functions as well.
- Having cut down on capital spending since 2008, cardiology departments have focused on maintaining financial margins while integrating their information systems with those of newly affiliated ambulatory facilities.
- U.S. hospitals now need to focus their IT efforts on achieving meaningful use (MU) to be eligible for stimulus funding through the Healthcare Information Technology for Economic and Clinical Health's (HITECH) provisions of the 2009 American Recovery and Reinvestment Act (ARRA).
- Given that the first and second phases of MU implementation focus on electronic medical
records (EMRs) and do not involve imaging, the C-PACS market will only benefit from HITECH funds starting in 2013.
- As part of a greater effort to curb spending in Medicare imaging, the Center for Medicare and Medicaid Services (CMS) is continually planning to reduce reimbursement levels for cardiovascular imaging procedures.
- These reimbursement reductions are highest for ambulatory imaging facilities, which perform more than half of the total cardiovascular imaging procedures.
- After a gradual slowdown that began in 2006, historical growth in cardiovascular imaging procedure volumes has reversed for certain modalities. Growth seems to be stabilizing at low, single-digit growth rates.
- IT departments are becoming more involved in supporting the operation of C-PACS systems and, to a certain extent, in selecting and deploying these systems.
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