The following press release appeared a few days ago.
SINGAPORE, July 22 /PRNewswire/ -- Keen interest from the Australian government towards eHealth initiatives is one of the major drivers of ensuring a double digit Compound Annual Growth Rate (CAGR) of 10.15% from 2009 to 2014 for the Health IT market.
Frost & Sullivan reported that the USD 525million revenue achieved in 2009 for the Health IT market is forecasted to increase by another USD 333million by 2014. This marks a 38% rise in revenue, primarily resulting from various national and state funded initiatives promoting the implementation of a National E-Health System.
Dr. Pawel Suwinski, Director, Frost & Sullivan commented that this growth projection for the Australian Health IT market is mostly attributed to the strong commitment by the central government towards creating a national healthcare information highway promoting safer, efficient, and more equitable care through seamless health information exchange (HIE). As part of the initiative, in 2005, the National E-health Transition Authority (NeHTA) was established to map-out the most suitable strategy plan for the implementation of countrywide e-health infrastructure and services. In the following 3 years, under NeHTA direction, several studies have been conducted to identify the complexity of processes, information pathways, and interdependencies between different participants within the healthcare services industry, and in December 2008 the National E-Health Strategy has been formulated to guide the consolidated effort of Commonwealth, States, and the Regions.
NeHTA's main objective is not only to develop a strategic plan for the e-health system, but also to oversee the implementation of various programmes to ensure that by 2012 Australia would have the necessary foundation for integrated e-health services that includes a priority plan of e-health solutions deployment, training support, and governance of e-health usage.
Moving in that direction, the Australian state governments are actively campaigning for a technological evolution within the local healthcare system. State wide campaigns such as the 'careconnect.sa' web portal developed by South Australia will be amongst the first of an integrated state wide electronic health record system. The portal was designed with the intention of establishing a one-stop personal web based entry-point portal to store and access patient health information. The careconnect.sa campaign will cost South Australia USD 315million in development funds and will most likely finish its implementation by 2017.
Western Australia has also invested USD 300million to develop their own version of Health IT infrastructure. The 'ehealthWA' program was created to link valuable information across multiple platforms including pharmacy, patient administration system (PAS), clinical information system (CIS) and notification and clinical summaries (NaCS) across the state.
"The e-health initiative has recently received a much needed boost in the form of AUD 466.7million budget commitment (passed on 11/05/2010) for the next 2 years to support plans for the Personally Controlled Electronic Health Record (PCEHR) system developed to promote health information exchange between different stakeholders responsible for care management and delivery within the entire healthcare value chain. It is estimated that this investment could generate AUD 7.6billion of benefits annually by the year 2020 as reported by Booz & Company, more than 65% would be achieved by eradicating medical errors and complying to best practices – enhancing quality. It is therefore obvious that seeing through the initial investment is the most important task as many healthcare IT initiatives are plagued with failures resulting from poor management and lack of commitment and involvement by the major stakeholders. Judging from the current progress, Australia is wading exceptionally well through all the pitfalls of nationally launched IT initiatives, and the passing by Parliament on 24th June the Healthcare Identifiers Services bill is keeping up the momentum in the right direction," says Suwinski.
Lots more here:
At the bottom we have this:
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
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I wondered just what a “Growth Partnership Company” was after all this and so found this:
Growth Partnership Service: Healthcare and Life Sciences IT
The Healthcare & Life Sciences IT Growth Partnership Services program combines our range of services, global perspective, and comprehensive market coverage to provide the tools that empower our clients to achieve their growth objectives. Through this program clients receive a continuous flow of market, technical, and econometric information, along with interactive applications (our TEAM methodology) focused specifically on growth. A sample list of our market coverage includes Medical Care Providers, Managed Care Services, Consumer-based Healthcare, Clinical Solutions, Business Solutions, and Healthcare Outsourcing.
Last update : 24 Jul 2010
See more here
So now I know. This is a market research wanting to have you as a client and this is a ‘teaser’ release to show you just how clever and well informed they are!
They also like to work globally as you can see and I have to say the press releases are endlessly optimistic.
SINGAPORE, July 5, 2010 / WorldPRLine / — Faced with escalating treatment costs and pressure to be affordable while searching for efficiency and better quality, hospitals are turning towards Health IT (HIT) for assistance where patient care is no longer the sole responsibility of doctors and nurses alone.
Dr. Pawel Suwinski, Principal Consultant, Healthcare Practice, Frost & Sullivan commented that the total recorded revenue of Health IT from Asia Pacific in 2009 reached an astounding USD 7.1 billion. The sum is a near 15% contribution to the total revenue figure for the industry globally.
“With an estimated steady growth of 11.3% CAGR (2009 – 2012) and an estimated leap to USD 10 billion revenue by 2012, it will come as no surprise that a majority of healthcare providers in the APAC region indicated that they are likely to keep their IT budgets intact, if not increased, despite going through a difficult recession in 2009,” says Suwinski.
Following a research conducted by Frost & Sullivan on 40 CIO/CFO’s from leading hospitals around the APAC region, 80% reported that they are looking at retaining or increasing their hospital’s IT budget for the year.
Healthcare IT forms a pivotal role in today’s healthcare system and it extends beyond mere information capturing, storing, and management. Being able to access the relevant information at the point of care – on the go – as well as interpret the many patient’s stored medical data enables medical professionals to take the best course of action on both clinical and management level.
The healthcare industry is still lagging behind other industries in the adoption of information technologies. At present, the gap stands at about 5 to 10 years, depending on products and technologies, but it is shrinking fast as HIT adoption and growth rates are outperforming other industries.
Improving quality of care, enhancing patient safety, and increasing patient satisfaction, while drastically reducing medical errors and administration burden has become an important criteria to most hospitals. This is made possible with the induction of Health IT systems in the healthcare delivery environment.
Technologies such as the Electronic Medical Records (EMR) are meant to accurately capture patient information to be shared with each member of the hospital team. Beyond that, EMR systems link different healthcare industry stakeholders by enabling seamless flow of patients’ medical records from different healthcare providers, as well as pertinent insurance and billing information. Medical errors due to illegible notes written by physicians during patient charting are also drastically reduced with implementation of EMR systems.
Suwinski comments, “Although Asia Pacific countries may be slow adopters in Health IT, they are beginning to realize that in order to compete with their western counterparts strategically, they will need to step up their IT integration to clinical care.” Countries such as Japan and Korea have spent a total of USD 299 million and USD 56 million respectively on EMR systems within their hospitals.
Well before you sign up for their doubtlessly expensive services consider these two paragraphs.
“Dr. Pawel Suwinski, Director, Frost & Sullivan commented that this growth projection for the Australian Health IT market is mostly attributed to the strong commitment by the central government towards creating a national healthcare information highway promoting safer, efficient, and more equitable care through seamless health information exchange (HIE). As part of the initiative, in 2005, the National E-health Transition Authority (NeHTA) was established to map-out the most suitable strategy plan for the implementation of countrywide e-health infrastructure and services. In the following 3 years, under NeHTA direction, several studies have been conducted to identify the complexity of processes, information pathways, and interdependencies between different participants within the healthcare services industry, and in December 2008 the National E-Health Strategy has been formulated to guide the consolidated effort of Commonwealth, States, and the Regions.
NeHTA's main objective is not only to develop a strategic plan for the e-health system, but also to oversee the implementation of various programmes to ensure that by 2012 Australia would have the necessary foundation for integrated e-health services that includes a priority plan of e-health solutions deployment, training support, and governance of e-health usage.”
If this is the quality of their research then I don’t plan to pay.
The facts are that NEHTA was never intended to be a planning organisation, did not have much at all to do with the development of the National E-Health Strategy by Deloittes and certainly does not have the main objective of developing a “a strategic plan for the e-health system”
Close reading will find just an endless litany of ‘not quite right’ statements
This is a ripper.
“Statewide implementation of electronic health records also presents major opportunities for business expansion. State e-health programs such as 'Healthelink' by New South Wales and the government's commitment towards developing the right technology necessary to deliver the best e-health system will accelerate the growth in this segment. In 2010, the market size is expected to be approximately USD 45million with a high 17.3 CAGR.”
Checking today the HealtheLink program looks to have died. Apparently no patients have been enrolled since November 2009 and there are no announcements of extension beyond a pilot.
I assume what they are actually talking about is the Cerner EMR implementations – which have also not been a totally unqualified success and anyway is largely complete. Hard to see exciting revenue growth from there!
Front page last updated 11 February 2009
If this was going anywhere we would know by now – since the evaluation of the pilot ended in September 2008.
Sorry guys you just don’t cut the mustard as far as knowledge of Australian Health IT is concerned. Sorry also to those NEHTA boosters who think this supports their case of unalloyed excitement and optimism. It’s rubbish in my view!