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Rising healthcare industry costs and a shortage of skilled staff have created a lucrative opportunity for technology and service providers, as hospitals and other front-line healthcare providers look to adopt new technology to lower their operating costs. Wireless LANs, VoIP deployments, the RFID tagging of patients and hospital assets, as well as extending care to remote patients via telemedicine applications all promise to lower healthcare delivery costs. While the initial deployment analysis for revamped technology suggested long ago an increase in productivity and reduction in healthcare providers operating costs, more recent studies of patient satisfaction, the availability of federal grants, and upcoming Medicare reimbursement policy for connection charges suggest that in the months and years ahead the healthcare industry is ready to make the commitment to a new generation of networking technology. This study examines the emergence of techno-healthcare, surveys the rollout plans for a representative number of US hospitals, and forecasts spending for hardware and network services across the healthcare industry.
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1.1 Overview
Healthcare is one of the fastest growing vertical markets for information technology (IT) and telecommunications services. The total US healthcare industry is estimated to be a $2 trillion ecosystem of hospitals, physicians, pharmaceuticals, and insurance providers all seeking to treat patients while at the same time searching for means to improve healthcare quality and reduce costs through technological innovation. Healthcare costs have risen eight percent per year since 1999, and are projected to grow by 7.2 percent through 2015. High demand for healthcare employees has positioned these jobs among the fastest growing occupations, projected to grow at 3.3 percent per year, which is two and one-half times the total employment growth rate.
It is our thesis that forces external to the healthcare industry (e.g., an aging population, worker shortages, etc.) will limit healthcare supply and increase demand—and that it is this pent up demand that will spur the industry to find alternative approaches to current business practices that rely heavily on IT and telecommunications services. Much of the high costs inherent in the current system are related to the proximity of the patient and provider as well as to the archaic administrative systems used to manage records and exchange information. Technology can bridge these proximity gaps, providing patient’s with access to providers and specialists as well as providing a normalized set of baseline data that is secure yet can be shared among those responsible for healthcare delivery.
The IT and telecom opportunities that are arising in the healthcare industry will be influenced by four major factors:
· Healthcare technology adoption: Historically, healthcare technology adoption has lagged other industries, but this trend is likely to reverse.
· Fragmented industry structure: A heavily-fragmented industry is consolidating and seeking technology solutions that can contain costs while improving quality of care.
· Industry marketing: Healthcare providers have limited IT resources with which to manage increasingly complex IT networks. Service providers who can deliver complete healthcare solutions will thrive in this area.
· Government influence: The US government tries to influence healthcare technology, but the private sector will dictate the future of healthcare technology solutions.
Table I-1 provides an overview of the major healthcare sectors that will drive demand for telecommunications and IT services. Each of the segments will be examined to distinguish between different buying patterns and the rate of technology adoption. Generally, the larger healthcare companies represent the greatest penetration opportunity for vendors, as they have a clearer vision of an advanced healthcare network and the resources to implement changes across multiple facilities...
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Chapter I
EXECUTIVE SUMMARY
1.1 Overview
1.2
An Industry Structure Ready for Change
1.3
Market Estimate of Healthcare Telecom Spending
Chapter II
BACKGROUND
2.1 Definition
2.2
The Growth of Healthcare IT
2.3
Industry Structure
2.4
Telemedicine
2.5
History of IT and Telecom in Healthcare
2.6
Technology Assessment
2.7
Government Promotion and Medicare
2.7.1
Health Insurance Portability and Accountability Act (HIPAA)
2.7.2
FCC
2.8
The Role of Health Insurance
2.9
Future Healthcare IT Trends
2.10
Carrier Opportunities
2.11
The Importance of Vertical Marketing
Chapter III
MARKET COMPOSITION
3.1 US Market
3.2
Segments
3.2.1
Hospitals
3.2.2
Physician Offices
3.2.2.1
Nursing
3.2.3
Clinics
3.2.4
Nursing Homes
3.2.5
Home Care
3.2.6
Health Plans
3.2.7
Pharmaceuticals
3.2.8
Insurers
3.2.9
Regional Networks
3.2.10
Other Healthcare Segments: Dentistry, Vision Care
3.3
Managed Services and Outsourcing
3.4
International
Chapter IV
APPLICATIONS
4.1 Traffic Increases
4.2
Imaging
4.3
Telemedicine
4.3.1
Home Health Monitoring
4.3.2
Home Nursing & Nursing Homes
4.4
Administrative Applications
4.4.1
Scheduling
4.4.2
Electronic Health Records (EHRs)
4.4.3
Healthcare Information Exchanges (HIE)
4.5
Electronic Prescription
4.6
Application Adoption
Chapter V
INDUSTRY FORCES DRIVING TECHNOLOGY ADOPTION
5.1 IT and Telecom in the Healthcare Setting
5.2
Population and Aging
5.2.1
US Population: 1980-2020
5.2.2
World Population
5.3
Healthcare Costs
5.4
Service Industry Employment
5.5
Healthcare Employment
5.6
Hospitalization
5.7
Clinics and Labs
5.8
Physicians
5.9
Nursing
5.10
Pharmaceuticals
Chapter VI
TECHNOLOGY
6.1 Introduction
6.2
Technology Investment and Adoption
6.3
Network
6.3.1
Broadband
6.3.2
Fiber to the Home (FTTH)
6.3.3
Home Networks
6.3.4
Ethernet
6.3.5
Fiber Optic Services
6.3.6
Cellular
6.3.7
Wireline-Wireless Convergence
6.3.8
Wireless LANs (WLANs)
6.3.9
Free Space Optical (FSO) Wireless
6.3.10
WiMAX
6.3.11
Satellite
6.4
Equipment
6.4.1
Imaging
6.4.2
Radio Frequency Identification (RFID)
6.4.3
Patient Monitoring Devices
6.4.4
Storage and Network Transfer
Chapter VII
HEALTHCARE FORECASTS, 2006-2011
7.1 Forecast Summary
7.2
Methodology
7.3
Healthcare Industry Metrics
7.4
Services Forecast
7.5
Healthcare Provider Forecast
7.6
Pricing and Penetration Forecasts
7.7
Application Forecasts
7.7.1
Telemedicine
7.7.2
Healthcare Information Exchanges (HIEs)
Appendix
GLOSSARY
Table of Figures
Chapter I
I-1
Total US Healthcare Telecom Service Revenues, 2006-2011
Chapter II
II-1
Shift in US Personal Consumption, 1960-2000
II-2
Telemedicine Network
II-3
FCC Universal Services Fund Distributions
II-4
Establishments by Industry (No. of Est. With More Than 1,000 Empl.)
II-5
Market Structure
II-6
Healthcare Networks
Chapter III
III-1
Hospital Networks
III-2
US Physician Office Size Distribution (Number of Physicians)
III-3
Number of Healthcare Mergers and Acquisitions by Service
III-4
Hospital Construction Costs, 1994-2005 ($Billions)
III-5
Number of Healthcare Mergers and Acquisitions by Technology
III-6
Sources of Payment for Healthcare Services for Medicare Enrollees
III-7
Healthcare Outsourcing Survey
III-8
Public Healthcare Funding, Sample from Top 30 Global Countries
III-9
European Union Telemedicine Alliance Model
Chapter IV
IV-1
Picture Archiving and Communication System (PACS)
IV-2
Home Monitoring Services
IV-3
Electronic Health Records Adoption (Number of Physicians)
IV-4
Electronic Health Records Implementation Schedule
IV-5
Clinical Data Transmission Process
IV-6
Healthcare Application Adoption Rates
Chapter V
V-1
US Population by Age Group, 1980-2025 (Millions)
V-2
World Population, 1950-2050 (Billions)
V-3
United Kingdom Population by Age Group
V-4
US Healthcare Costs ($Trillions) and Percent of GDP
V-5
US Healthcare Funding Sources, 1980-2015 ($Trillions)
V-6
Insurance Coverage by Age Group, 2004 (Millions)
V-7
US Healthcare Expenditures by Provider, 2000-2015
V-8
Healthcare Employment, 2002-2012 (Thousands)
V-9
US Hospital Beds and Occupancy vs. Staffing, 1980-2005
V-10
US Hospitals vs. Outpatient Visits, 1980-2005
V-11
National Employment of Laboratory Workers by Industry Setting
V-12
Number of Physicians vs. Number of Physicians per 1000 People
V-13
Registered Nursing Employment
Settings, 2000 and 2004
V-14
National Supply and Demand for Registered Nurses, 2000 to 2020
V-15
Nursing Projections, 2000 and 2020 (Thousands)
V-16
Pharmacists: Historical and Forecast, 1970 to 2010
Chapter VI
VI-1
Survey of Top Ten IT System Priorities - -Next 24 Months
VI-2
Survey of IT Integration Priorities
VI-3
Global Broadband Penetration, 2005
VI-4
Fiber-to-the-Home and Node (FTTx)
VI-5
FTTx Penetration, 2005-2010 (Millions)
VI-6
US Home Networks, 2005-2010
VI-7
Cellular and VoWLAN Dual Mode Handset
VI-8
Free Space Optics
VI-9
Wireless Arrangements from a Single WiMAX Terminal
Chapter VII
VII-1
Total US Healthcare Telecom Service Revenues, 2006-2011
VII-2
Total US Wireline Healthcare Telecom Service Rev by Svc Type
VII-3
Total US Cellular Telecom Service Revenues by Healthcare Provider
VII-4
Cellular Pricing Assumptions, 2006-2011 (Av Monthly Rate per User)
VII-5
Total US Spending on Telecom by
Healthcare Provider Type
VII-6
Hospital Telecom Service Distribution, 2006 and 2011
VII-7
Growth of US Healthcare Facilities, 2006-2011
VII-8
Growth of US Healthcare Practitioners by Type, 2006-2011
VII-9
Total US Households, Wline BB
Households & Wless BB Households
VII-10
Total US Telemedicine Services Revenue, 2006-2011
VII-11
Health Information Exchanges, 2006-2011
Table of Tables
Chapter I
I-1
Healthcare Market Segments
Chapter II
II-1
Healthcare Market Segments
II-2
Healthcare Technology
II-3
US Healthcare per Capita Expense, 1980-2015
II-4
US Personal Consumption, 1960-2000 (% by Category)
II-5
Telemedicine Services
II-6
Delivery Mechanisms
II-7
Market Segments for Wireline and Wireless
Chapter III
III-1
Healthcare Segment Dimensions and Trends
III-2
US Hospital Systems, 2005
III-3
US Home Care Agencies, 2004
III-4
US Home Care Agencies, Market Percentages
III-5
Top Pharmaceuticals Companies
III-6
Twenty Largest Health Insurers by Revenue
III-7
International Healthcare Spending, 30 OECD Counties
Chapter IV
IV-1
Image Transmission Speeds
IV-2
Application Adoption, Drivers and Barriers
Chapter V
V-1
US Population by Age Group, 1980-2025
V-2
Employment Growth by Major Sector, 2005 to 2012
V-3
Healthcare Employment Increases, 2005-2012
V-4
Number of Physicians by Specialty, 2000-2020
V-5
Nursing Projections, 2000-2020
Chapter VI
VI-1
North America Broadband Users, 2005-2011
VI-2
North American Wireless
Subscribers and Broadband Users
Chapter VII
VII-1
Total US Healthcare Telecom Service Revenues, 2006-2011
VII-2
The Impact of Healthcare Segments on Telecom Networks
VII-3
Distribution of Establishments by Healthcare Segment
VII-4
Total US Healthcare Spending vs. Telecom Healthcare Spending
VII-5
Total US Healthcare Spending vs. Healthcare Employment, 2006-2011
VII-6
Total US Healthcare Spending Per Capita & Telecom Spending Per Emp
VII-7
Total US Wireline Healthcare Telecom Svc Revenues by Svc Type
VII-8
Total US Wireless Healthcare Telecom Svc Revenues by Service Type
VII-9
Total US Cellular Telecom Service Revenues by Provider, 2006-2011
VII-10
Cellular Pricing Assumptions, 2006-2011
VII-11
Total US Spending on Telecom by HC
Provider Type
VII-12 Telecommunications Services Price Assumptions
VII-13
Total US Telemedicine Services Revenue, 2006-2011 ($Millions)
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