The 2009 American Recovery and Reinvestment Act (ARRA) will cause the PACS, RIS, and cardiovascular information systems (CVIS) markets in the U.S. to take a hit as hospitals shift healthcare IT budgets toward electronic medical records (EHRs), according to a report from Millennium Research Group.
The resulting dip in sales and market size for PACS, RIS, and CVIS will likely extend to 2013, when these systems become eligible for ARRA funds, the company said. As it stands now, hospitals are eligible for stimulus funds through demonstration of "meaningful use" of their EHR systems, but PACS, RIS, and CVIS are not yet eligible.
In the report, "U.S. Markets for PACS, RIS, and CVIS 2011," Millennium notes that competition between vendors for smaller market shares will intensify, and there will be significant price discounting of systems.
The 2010 U.S. market for radiology and cardiology PACS, RIS, and CVIS software was valued at approximately $1.8 billion, according to Millennium.
