Electronic patient record solutions generated $1.1 bln in 2004
Total IT spending for electronic patient record solutions is expected to grow from $1.1 billion in 2004 to $2.1 billion in 2008. Patient clinical data is the most vital piece of information for healthcare providers. To have a secure and comprehensive view of all patient data, healthcare organizations must deploy electronic records. Software will be the major driver of spending. Database, document and record management, security software, and vertical-specific applications will be at the core of EPR solutions and will experience the fastest growth.
IT spending growth is currently high in the U.K. because of the NHS national IT program. The next growth phase will come from Germany and France, while Italy is expected to close the gap only in a later phase due to budget constraints. Vendors must craft solution-selling frameworks that address the technology, business, and regulatory pain points of various countries. By learning lessons from early adopters such as the NHS, vendors must adapt go-to-market approaches to various stages of investment in different countries, address key pain points, and create a partner ecosystem that will enable them to support large and complex EPR projects.