Just How Fast is Health IT Growing?

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Just How Fast is Health IT Growing?

careinnovators | November 15, 2009 - Leave a Comment

Companies	Camden Partners Holdings Scientia Advisors
Industries	Health IT Electronic Medical Record

If you’re involved with a health IT start-up, here’s some good news – an article in InformationWeek reported that health information technology (HIT) is the fastest growing segment of the $1 trillion global health market, with continued growth expected through 2013. Scientia Advisors, a management consulting firm, estimates that during this time, HIT will gain a 25% increase in the health care market share. The article also noted that electronic health records will be one focus for spending, but clinical decision support, open source software, and software as a service (SaaS) could also be innovative disruptions to the health industry.

The potential HIT growth is reflected in the continued interest of venture capital (VC) firms. Even though VC deal volume in all health sectors is down, HIT has taken the smallest hit, according to Christopher Kersey, a Partner with Camden Partners. At the 2009 Health Technology Investment Forum, Kersey noted that HIT funding is down 20% but is still the top health sector to be funded. Health care services (down 35%) is the second most funded area, followed by biotech (down 40%) and medical devices (down 55%).

Source: InformationWeek