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U.S. High Acuity Care Information Systems Markets
Frost & Sullivan, Feb 2011, Pages: 82
This research service analyses the high acuity care information systems market as it pertains to their use in U.S. hospitals. It describes the various market, economic, technological, and management trends with respect to the procurement and use of high acuity care information systems in specific hospital service areas including emergency, intensive care, and peri-operative and anesthesia departments. Drivers, restraints and challenges for the U.S. high acuity care information systems market are analysed and revenue forecasts are provided for 2005 through 2015. The research service also presents selected vendor profiles and market share analysis as well as strategic recommendations for the growth of the market
Research Overview
This Frost & Sullivan research service titled U.S. High Acuity Care Information Systems Market provides the various economic, technological, management, and market trends related to the procurement and use of high acuity care information systems in specific hospital service areas. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: emergency department, intensive care, peri-operative, and anesthesia information systems.
Market Overview
Growing Focus on Improving Patient Care Outcomes Drives Demand for Acuity Care Information Systems
Implementation of acuity care hospital information systems, specifically those targeted at emergency and intensive care departments, is helping hospitals to upgrade the quality of patient care. The improvements in quality range from faster processing/admittance through triage to minimization of medication errors through use of physician order entry systems. Hospitals are also hoping that information systems vendors will help them understand and comply with the criteria of ‘meaningful use’, as outlined in the Health Information Technology for Economic and Clinical Health Act (HITECH) portion of the American Recovery and Reinvestment Act (ARRA). “The vagueness surrounding what is or is not included in justifying ‘meaningful use’ requirements in order to qualify for the ARRA’s financial incentives is preventing many hospitals from going through with their IT purchase decisions in the short-term,” notes the analyst. “A number of acute care vendors have set up programs to help educate their clients about the ‘meaningful use’ criteria and have developed programs designed to help hospitals meet them.”
Interestingly, the Act may also have a negative impact on IT spending within various units of the healthcare facility. Given the requirements of the ARRA and budgetary constraints, it is likely that hospitals and other healthcare service providers will have to channel funds to fulfill other short-term obligations, which in turn affects revenue growth opportunities for high acuity care vendors. Moreover, the uncertain economic environment also influences hospitals’ decisions to purchase and implement various technologies including acute care information systems.
Amid Intense Competition, the $842.2 Million U.S. Market is Expected to Reach $1.3 Billion in 2015
Competition among market vendors is intensifying, as hospitals are still not sure about the most appropriate acuity care information system. Hospitals consider information technology integral to their operations rather than just a support technology; however, they are uncertain whether they should approach enterprise or niche vendors to avail the best solutions. While the end users are still undecided about the best way forward, many large enterprise-wide HIS vendors, in a show of might, have been buying out smaller/niche participants in order to expand and complement their portfolios. The various mergers and acquisitions enable large vendors to reduce their operating costs and be even more price competitive - an approach that would be difficult for smaller participants to follow, at least in the short run, anyway. Hence, to stave off price wars, acute care information system vendors have apportioned a part of their business to companies that offer enterprise-wide hospital information systems (HIS) and another part to niche vendors. While the former offers solutions for various departments of a hospital, the latter focuses on one or more of the three key high acuity care centers.
“This market is expected to continue to grow over the next few years as hospitals that had deferred investments during the global economic downturn are expected to start spending in 2011,” observes the analyst of this research service. “Hospitals are either implementing new systems for the first time or deploying replacements of/upgrading existing systems.” The key market drivers include hospitals’ continuing focus on improving patient care, the desire to boost facility/human capital utilization, and the need to meet regulatory requirements. Additionally, the constant need for application maintenance will provide HIS vendors with a steady revenue stream over the next few years.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Solution Type
- Emergency department
- Intensive care
- Peri-operative and anesthesia
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