Healthcare IT Spending Increasing Quickly

moneyA recent report by NJ-based Insight Research Corporation projects that more than $69 billion will be spent on healthcare IT over the next six years.  The market research study predicts that spending on IT and telecommunications for healthcare will grow at a compounded rate of 9.7 percent annually between 2012 and 2017.

Also projected are a 16% increase in the number of healthcare locations and a healthcare employment rate expected to increase 250% faster than the U.S. employment rate overall.  Federal regulations and an aging population are driving the increasing investments in healthcare and telecom technologies.  Hospitals and other healthcare providers are adopting these new technologies in networking and electronic patient health information, which will aid in providing better care and immediate clinical recommendations as well as accumulating data to improve future treatments.

Electronic Medical Records (EMR) and medical billing systems by industry giants McKesson and Allscripts are among the products and services offered by Microwize Technology.