Understand ARRA Spending Allocations with HIMSS Analytics™ Market Int...( Essentials o...),Health

Essentials of the US Hospital IT Market - 4th Edition provides a current overview and future projections of the US hospital information technology market

Chicago, IL (Vocus) June 2, 2009 -- With more than $19 billion available for US hospitals and ambulatory clinics to implement the electronic medical record, HIMSS Analytics cuts through the information clutter to clarify which technology applications are expected to receive more funding from the American Recovery and Reinvestment Act with its Essentials of the US Hospital IT Market - 4th Edition. Captured from the HIMSS Analytics Database™, this data covers more than 5,100 hospitals and 32,000 medical facilities in the United States.

The online resource, available in PDF format, analyzes different EMR applications related to the pending definition of 'meaningful use' that is part of the ARRA verbiage. The Essentials report reviews the impact of meaningful use on specific applications of the EMR that include order entry, clinical data repository, clinical decision support, computerized provider order entry and clinical and physician documentation.

"About $4.7 billion will be spent on hospital IT applications in 2009, increasing to approximately $6.8 billion in 2014," said Mike Davis, executive vice president, HIMSS Analytics. "This figure represents a compounded annual growth rate, or CAGR, of 7.45 percent over that five-year period."

He explained that much of this increase will be driven by ARRA funding, "But other market drivers will also influence higher hospital IT spending rates." Davis cited three areas to monitor related to future hospital spending during the next five years.