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Federal Health Information Technology Market, 2011-2016 (Nov 2011)
Deltek's Federal Health Information Technology Market, 2011-2016 report examines the future of the federal health information technology market.
Deltek's Federal Health Information Technology Market, 2011-2016 illustrates that investments in health information technology (IT) systems and services by federal government agencies will increase from $4.5 billion in 2011 to $6.5 billion in 2016 at a compound annual growth rate (CAGR) of 7.5% during the forecast period.
Deltek’s report explores the federal health IT market environment and future trends and their anticipated impact on vendors, VARS, systems integrators, and federal contractors over the next five years.Unlike most areas of projected federal spending, health IT purports to be a growth market over the next five years. Rising health care costs, aging population, and continued high unemployment drive federal health care expenditures up over the next decade and into future. Additionally, the HITECH Act and the Affordable Care Act are driving the federal government to facilitate adoption of health IT at a nationwide level to increase health outcomes, improve U.S. health, and drive down the cost of health care. Agencies will be forced to spend money to save money in the long run by investing in electronic health record (EHR) systems, IT infrastructure modernization for health-related agencies, payment system transformation, and IT to promote advancement in population health.
Key report findings include:
- Technology advances, as well as potential long-term cost savings and better health outcomes, drive demand for mobility, telehealth, informatics, decision support, interoperability and common EHRs.
- Federal agencies possess the most advanced EHRs in the world, however due to their age and legacy architectures and technologies, they are overly ripe for major transformation.
- The federal government is the single largest payer of health care services in the U.S., and as such must transform from a “pay for service” model to a “pay for health” model in order to reduce costs and improve population health outcomes.
- Data security, program integrity, care coordination, political agendas, and the deficit present challenges to federal and nationwide health IT adoption and implementation.
Critical Insight for Vendors
This report provides companies and other interested parties with a detailed view of federal health IT spending and a market forecast for the next five years, and is designed to enhance a vendor’s business-development planning process with relevant strategic analysis and market forecasts.
Deltek's Federal Health Information Technology Market, 2011-2016 report is delivered in PowerPoint® format and includes an accompanying PowerPoint® Executive Briefing, and an Excel® workbook with charts and data.