The report also points out the leading difference that effective philanthropy can make in driving new opportunities, noting the more than $115 million in philanthropic grants that have put Indiana and its well known research institutions like the Regenstrief Institute on the national map for leading HIT research and entrepreneurial development.
A recent analysis by IBM predicts the total U.S. market for HIT products and services growing annually at a rate of nearly 6%, and reaching $42 billion by 2014, "a growth rate that is among the fastest in any industry."
Indiana HIT companies stand to capitalize on this trend. In 2008 (the most recent year for which data are available), the collective revenues of these companies totaled $202 million, an increase of 125% over sales of $90 million in 1998, and coinciding with the rise of Indiana's multiple health information exchange (HIE) networks throughout the state.
Information Services/Software Development businesses claim 58 percent of the sector's jobs; consulting jobs are 27 percent of the employment numbers and Electronic Medical Record companies/Health Information Exchanges have 15 percent of the HIT workforce. Overall, health IT jobs have grown 61% over the last five years.
Two examples of these Indiana-based businesses are Medical Informatics Engineering (MIE), a web-based EHR provider and its wholly owned subsidiary, NoMoreClipboard.com, one of the leading personal health record management systems in the U.S.
Launched in 1995, MIE built and still operates one of the first health information exchanges - providing clinical messaging services to the Northern Indiana medical community. MIE also developed a full portfolio of web-based, electronic health record products used by clients ranging from solo physician practices to Fortune 500 employee health organizations such as Google, Lilly and Dow Chemical. MIE's Minimally Invasive™ approach to EHR implemen
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