Federal Health Information Technology Market, 2014-2019
Published: August 28, 2014
Deltek's Federal Health Information Technology Market, 2014-2019 report examines the future of the federal health information technology market.
Deltek's Federal Health Information Technology Market, 2014-2019 illustrates that investments in health information technology (IT) systems and services by federal government agencies will increase from $4.3 billion in 2014 to $4.8 billion in 2019 at a compound annual growth rate (CAGR) of 2.2% during the forecast period.
Deltek’s report delves into federal health IT market drivers and inhibitors, future trends, technology applications, and market segments. It also provides a detailed agency analysis for top federal health IT buyers.
The federal health IT market is poised to remain strong and grow slightly over the next five years, unlike other areas of federal spending which are experiencing major declines. Agency investments in health IT are aimed at improving health outcomes, lowering costs, increasing access to care, and bettering U.S. population health. VA, DoD, and HHS will continue to be the highest federal spenders for health IT, but additional opportunities and spending will occur with agencies such as USDA, SSA, EPA, OPM and the State Department.
· Federal Health IT spending will be fueled by investments in EHRs, analytics, decision support systems, telehealth, storage, and cloud computing.
· Legislative and administration policy promote population health and the use of Health IT on a nationwide level, but provide limited funds to agencies for the implementation of Health IT.
· The Provider market segment is expected to show the most year-over-year growth due to VA and DoD EHR and interoperability initiatives, as well as VA efforts to improve access to care.
· The Promoter market segment is dominated by CMS, CDC, FDA, NCI, and NIH where spending will remain steady throughout the forecast period.
· CMS controls the Payer market segment and over the forecast period will be focused on data management, analytics, cloud adoption, privacy, security, and storage.
Critical Insight for Vendors
This report provides companies and other interested parties with a detailed view of federal health IT spending, a market forecast for the next five years, and is designed to enhance a vendor’s business-development planning process with relevant strategic analysis.
Deltek's Federal Health Information Technology Market, 2014-2019 report is delivered in PowerPoint® format and includes an accompanying PowerPoint® Executive Briefing, and an Excel® workbook with charts and data.