DELTEK FEDERAL HEALTH INFORMATION TECHNOLOGY MARKET, 2018-2023

Published: 04/05/2018

Description

The federal government estimates that federal health care spending will increase 80% from $918B in 2015 to $1.7T in 2025. Requirements for improved quality, interoperability, data sharing and privacy will drive federal agencies taking on the role of promoter, provider or payer to invest in more IT solutions for enhanced health effects and to thwart waste, fraud and abuse. A focus on patient accessibility, paying for performance, modernizing health IT systems and emerging technology will spur spending within the health IT market in the next five years. The Department of Defense is in the midst of deploying a new electronic health record (EHR) system, and the Department of Veterans Affairs is expected to implement the same solution. Federal health IT spending over the forecasted period is greatly influenced by these new EHR platforms as well as potential solutions by the Coast Guard and Department of State. Efforts to increase medical innovation, mobile health, health care cost control and combat public health issues such as the current opioid epidemic will also solidify investments in health IT products and services. Deltek forecasts spending on vendor-provided federal health IT goods and services will increase from $6.1B in 2018 to $8.1B in 2023 at a compound annual growth rate (CAGR) of 5.6%. Key Findings A growing Medicare population and increased military and veteran health costs will cause federal health care expenditures to continue to rise, forcing agencies to prioritize costs in areas of efficiency and improved outcomes.Federal agencies are using COTS, shared services, cloud and cyber solutions for health IT infrastructure and legacy system upgrades.Legislation and policies such as the HITECH Act, MACRA, the 21st Century Cures Act and MyHealthEData will continue to pave the way for health IT on a nationwide level. However, budget cuts in related federal health agencies will temper their spending on health IT solutions.A growing demand in mobile health solutions such as telehealth and telemedicine will drive growth in mobile health care products and applications.Critical Insight for Vendors This report delivers a comprehensive view of upcoming health IT spending plans. Its purpose is to assist in business development planning through strategic and tactical insight into the federal health IT market. The report provides: Details into the market structure, budget, policies and technologies driving the federal health IT marketplace.Budget and contract spending trends within federal health IT.Predictions of federal health IT program and market spending.Analysis of agency health IT budgets, priorities and initiatives as well as market projections.Deltek's Federal Health Information Technology Market, 2018-2023 report is delivered in PowerPoint® format, including a PowerPoint® Executive Briefing, and an Excel® data workbook.

Add to Cart »

Win More Government Business with GovWin IQ

With the support of GovWin's vast and experienced team of analysts, GovWin IQ's comprehensive market intelligence for U.S. federal, state, local and Canadian governments provides you qualified pre-RFP opportunities, analysis on agency budgets and priorities, insight into your competitor's business, potential partners, and key government & teaming contacts. Learn More & Try GovWin IQ for Free.

Canadian Market Intelligence from GovWin

GovWin's coverage has expanded to include the Canadian government market!

  • Streamline your business development and market research workflows across the Canadian and U.S. public sectors and empower staff by accessing opportunities from a centralized, easy-to-use platform with mobile search.
  • By bringing together the $200B purchasing powers of the provinces, the territories, their MASH sector entities, as well as the federal government, you can count on GovWin to access a holistic view of Canadian government procurement intelligence across all levels of government.
  • Our Canadian coverage includes all Federal government departments, Crown Corporations, Provincial governments, Territories, Counties, Municipalities with populations of 2,000+, First Nations with populations of 2,000+, Public Higher Ed Institutions, Purchasing Cooperatives and Special Districts.
  • Grow Market Share in Canada
    • How is your business keeping track of opportunities to work in Canada?
    • GovWin's Canadian coverage leverages numerous data sets becoming your one-stop intelligence hub so you can makes strategic go-to-market decisions and, ultimately, win more business.