Printer Friendly
The Free Library
14,669,256 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Healthcare IT Market Estimated at $50 Billion: Double Digit Growth Anticipated.


MONTREAL -- VisualMED Clinical Solutions Corp. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:VMCS VMCS Vehicle Management Control System ) intends to benefit from the worldwide growth in healthcare information technology, a market that has passed the $50 billion a year mark according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 a recently published article by Reuters (Governments fuel growth in $50 billion healthcare IT market, by Ben Hirschler, www.reuters.com).

The article points out that with the new demand for clinical type solutions, industry executives expect this market to have double digits Double Digits was a pricing game on the American television game show, The Price Is Right. Played from April 20, 1973 through May 18, 1973's show, it was played for a car and used small prizes.  growth for the foreseeable future. The big prize in the healthcare IT market lies in incorporating Information Technology to the act of treating patients, known as decision support.

"The fact that decision support at point of care is beginning to have some traction is positive for VisualMED," says Gerard Dab, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of VisualMED. "It is time for the market to move beyond the old static computerization com·put·er·ize  
tr.v. com·put·er·ized, com·put·er·iz·ing, com·put·er·iz·es
1. To furnish with a computer or computer system.

2. To enter, process, or store (information) in a computer or system of computers.
 of administrative procedure and into patient care."

The VisualMED Computerized Physician Order Entry module never fails to get excellent ratings from independent agencies such as The Leapfrog Group. The VisualMED clinical management and decision support software have been rated at the top of the industry by these leading analysts in terms of the high-level functionality of its CPOE CPOE Computerized Physician Order Entry
CPOE Computerized Provider Order Entry
CPOE Computerized Prescriber Order Entry
 module.

Hospitals are severely lagging in IT spending and need to boost budgets in order to catch up. According to the Reuters article, IT expenditure constitutes no more than 2.2% of healthcare budgets. By comparison, it should be noted that other key industrial sectors typically spend more than 10% of their budgets on information technology.

If pressure continues to mount from governments and the public, hospitals will have no choice to continue increasing their budgets to modernize, including more spending for computerized solutions in the coming years.

About the Company and its products

VisualMED Clinical Solutions Corp. is a leading provider of clinical informatics Clinical Informatics is a sub-field of medical informatics. It focuses on computer applications that address medical data (collection, analysis, representation). Clinical informatics is a combination of information science, computer science, and clinical science designed to assist  solutions that help hospitals and healthcare authorities reduce medication errors, increase personnel efficiency and bring down operating costs. One of its key components, Computerized Physician Order Entry (CPOE), is a core solution in the new agenda to promote greater patient safety and reduce the morbidity and mortality Morbidity and Mortality can refer to:
  • Morbidity & Mortality, a term used in medicine
  • Morbidity and Mortality Weekly Report, a medical publication
See also
  • Morbidity, a medical term
  • Mortality, a medical term
 associated with medication error. The company is involved in major government initiatives on three continents to modernize hospitals and healthcare delivery.

Detailed information on our company and its products is available on our web site at www.visualmedsolutions.com.

Forward-Looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Dec 8, 2005
Words:487
Previous Article:A New International Recognition in Dubai and in Montreal for Sofame Technologies Inc.
Next Article:Calpine Power Income Fund Announces Change to Board.



Related Articles
Coleman Says Softness in Key Camping Markets, Recent Acquisition to Cause Small Loss in Third Quarter.
Pension Sales See Double-Digit Gains.(Brief Article)(Statistical Data Included)
Ecolab Affirms 2000 Outlook, Expects Double-Digit EPS Growth in 2001.
Contributions To Higher Education Continue To Climb.(Brief Article)(Statistical Data Included)
War in Iraq impacts global chip sales. (First in/First Out).(Industry Overview)
Staffing Industry Revenue Expected to Rise after Two Year Downturn; Staffing Industry Analysts Forecasts Small Growth.
Survey: 2005 HMO rates will rise; growth slower than recent years.(Briefing)(Health-Maintenance Organizations)(Brief Article)
GE Sees Sustainable Double-Digit Earnings Growth Starting in Fourth Quarter 2004.
Keeps growing and growing and ... While not registering the double-digit growth rates of previous years, work-site sales are steadily...
Aiming high: the trend in Japanese PCB manufacturing is optimistic and aggressive.(THE FLEX MARKET)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles