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Federal Healthcare Spending Boom on the Way

Healthcare companies – especially those involved with medical information technology – take note: more money could be headed your way soon.

A recent report by Deltek projects that federal healthcare IT spending will reach $6.5 billion annually by 2016. Driven by rising healthcare costs, the aging boomer generation, and the inherent efficiencies and cost savings generated by health IT solutions the increase in spending over the next four years should spur intense competition for large, multi-year contracts with many large government agencies.

The Department of Veterans Affairs has already started. They’ve begun looking to replace some of their older, legacy software systems and new multi-million dollar contracts are sure to follow. The Feds are giving other hospitals incentives too. And while they may be a bit slower to adopt such technologies as Apple’s iPad, these hospitals will eventually have to give in to the increased pressure building behind the new wave of medical IT.

Healthcare companies must have strong, focused strategies to take advantage of the available funding. Implementing targeted marketing communications while following federal regulations and guidelines will be one of the first necessities.

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