Data storage-management products are likely to play a key role in preparing healthcare facilities to meet HIPAA requirements to keep patient records in a timely, secure, and organized manner, according to an analysis from Frost & Sullivan of San Jose, CA.
The firm said that revenue in this industry totaled $845.2 million in 2004 for storage hardware products, with sales projected to reach $1.33 billion in 2008. The growth can be attributed to the volume of healthcare data increasing by more than four times every two years, Frost said.
The report, Data Storage Management Markets for U.S. Healthcare Settings, states that the market is already showing a marked increase in IT spending on security system upgrades. Frost said it expects investment in PACS, electronic medical records (EMR), and computerized physician order entry (CPOE) software to be among the top priorities of U.S. healthcare institutions.
By AuntMinnie.com staff writers
December 7, 2004
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