Physician Information System Markets to Double, Top $5 Billion by 2001, Driven By Cost-Cutting Pressures.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Jan. 10, 1996--The U.S. market for physician information systems will more than double from $2.3 billion in 1995 to $5.6 billion by the year 2001, growing at a 16 percent compound annual rate, projects a new study just released by Frost & Sullivan. The dominant share of market revenues gained by modular integrated information systems will rise from 67 percent in 1995 to 69 percent in 2001 while that of fast-growing EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. rises from 13 to 16 percent and that of outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services declines in share though growing strongly in absolute terms (Alg.) such as are known, or which do not contain the unknown quantity. See also: Absolute from 20 to 15 percent in the same period, forecasts the report, U.S. INFORMATION SYSTEMS FOR PHYSICIAN MARKETS: FROM DOCTORS OFFICES TO CLINICS WITHOUT WALLS. As the push to reduce healthcare costs pressures physicians, it builds opportunities for ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. system providers. As doctors affiliate with larger, more competitive organizations, these generate new requirements for ISP products and services to improve efficiency and better enable organizations to win cost-based managed care contracts. EDI (Electronic Data Interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. ) tailored to the healthcare industry will be more widely adopted and Healthcare Information Networks (HINs) established across broadening geographical areas to support increasing transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. . ISP vendors are increasingly providing products to support healthcare enterprises' shift to more patient-centered computing computing - computer featuring longitudinal patient records covering the care continuum and the merging of patient clinical and financial records. ISP vendors are increasingly challenged to provide applications and systems that can effectively combine financial and clinical data in unified seamless systems spanning entire enterprises or larger community or regional health information networks. Healthcare enterprises are seeking ISP vendors who can best help them integrate disparate systems across diverse facilities as industry pressures lead to mergers, acquisitions, alliances and affiliations demanding integration of multiple information systems. The trend toward consolidation and alliances in this market will continue as very large firms like IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Microsoft and Electronic Data Systems (EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. ) jump in. Interface engines are emerging as a key technology in the effort to integrate disparate information systems. Through real-time translation software, these increase the ability of enterprises to use EDI. Introduction of portable devices into healthcare environments is continuing at a slow rate. Their more widespread adoption will depend to a considerable extent on further integration of new technologies like voice recognition. In light of survey evidence that no more than 5 percent of physicians use computers to enter clinical data, ISP vendors will seek to offer products and services to make automation more user- friendly as well as useful. Frost & Sullivan is an international high-technology research firm. All Frost & Sullivan reports are based on extensive interviews with marketing and technical experts from selected companies in each market segment. Primary research is validated by thorough analysis of available secondary research. Frost & Sullivan is the leading publisher worldwide of high-technology research reports. Report: 5334-74 Publication Date: February 1996 Price:$2295 CONTACT: Frost and Sullivan Jonathan Moore Jonathan Moore, son of international coach Aston Moore (former athlete and coach to Ashia Hansen) began his career his by gaining the English School’s title in 1999 and Gold in the same event in 2000. , 415/961-9000 Kristina Menzefricke, 44 171 730 3438 Nadge Keryhuel, 33 1 4742 9127 |
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