PRZOOM - /newswire/ -
Palo Alto, CA, United States, 2005/11/23 - Frost & Sullivan (telecomservices.frost.com) reveals that Healthcare providers spent a total of $9.8 billion in 2005. It is estimates to reach $13.3 billion in 2011.
Over the past several years, the emergence of wireless technology applications within hospital facilities has seen a steady amount of growth and adoption. As physicians become more accustomed to utilizing IT as part of their everyday patient care, a greater amount of applications continue to emerge. This continuance has led to physician utilization of wireless not only for patients within the hospital, but also for those outside the healthcare facility.
Frost & Sullivan reveals that Healthcare providers spent a total of $9.8 billion in 2005. It is estimates to reach $13.3 billion in 2011.
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Mobile applications are re-defining the way medical professionals provide care. There is a tremendous amount of competition among large healthcare provider establishments such as hospitals.
“Caregivers are investing heavily in technology to improve operational efficiency, reduce medical errors and enhance patient safety,” says Industry Analyst Roopa Shree. “PDA's are the most commonly used wireless devices to eliminate the time-consuming and error prone paper work at the point of care.”
However, the rising cost of malpractice insurance is forcing healthcare services providers to focus on improving patient safety. Various technologies are being used within the healthcare settings to reduce medication errors. Healthcare services providers are increasingly implementing bar codes, computerized physician order entry systems, as well as communications technologies that allow for more efficient and effective coordination between physicians and other hospital staff.
“Many healthcare managers are concerned with noticeable return on investments (ROIs) for technology investments. With telecommunications purchases, ROI sometimes takes a year or more and this deters spending on telecom,” notes Shree. “Tight budgets are pressuring IT Managers and directors of telecommunications in healthcare to focus on what money they can save in the near term.”
Close relationships between the carrier and the healthcare services provider will be needed to clearly define the benefits and the return on investment in each telecom service to be incorporated by the end-user. Service providers also need to create partnerships with various IT vendors specializing in healthcare systems/solutions in order to penetrate this sector. These IT vendors can range from large consulting organizations and systems integrators to small IT software and hardware vendors that exclusively target healthcare services firms.
U.S. Healthcare Vertical Telecom Services Markets, a part of the U.S. Government Vertical subscription service, provides an overview and outlook for the market. This research includes detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
U.S. Healthcare Vertical Telecom Services Markets
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