A new report from the Healthcare Information and Management Systems Society’s research arm predicts that U.S. hospitals will spend about $4.7 billion on health IT this year and about $6.8 billion by 2014, Health Data Management reports.
For the report, titled “Essentials of the U.S. Hospital Market, 4th Edition,” HIMSS Analytics surveyed 5,100 hospitals.
The researchers projected that health IT would account for about 43% to 48% of total hospital capital budgets this year.
The projected figures are lower than 2007 levels, possibly as a result of the ongoing recession. However, the report predicts that health IT spending will increase over a longer time frame by a compounded annual rate of 7.5%.
The report identifies several factors that could account for the increase in health IT spending, including: More Here Electronic Prescription