Healthcare to spend $4.5B on wireless data by 2014

By Brian Dolan
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Mobile Health Industry Revenues Predictions

(Click for more on which segments of mobile health these figures include.)

According to a report from In-Stat released this month, the healthcare industry in the United States will spend more than $4.5 billion on wireless data spending by 2014.

In-Stat lists a number of wireless health use cases as drivers of the increasing spend on wireless data: caregivers' interest in access to patient data, coordinating care; validating patient identity; billing for services and preventing medical errors.

“Growing federal initiatives have increased the emphasis on digitizing records nationwide,” Greg Potter, a research analyst at In-Stat stated in a press release. “At the same time, disaster response and disease control increasingly require integration with governmental authorities. Add in an aging population, complex insurance company billing, patient identity protection, and drug theft and you have the perfect storm in the pursuit of a digital means to rein in personnel and asset management costs with a highly mobile medical workforce.”

In early 2010 CSMG made a similar prediction for wireless health revenues in the US market. However, CSMG's market prediction included a wide range of services: monitoring, personal emergency response services (PERS), telemedicine, mobile medical equipment, mobile health information, RFID tracking and health/fitness software. CSMG predicted that revenues for those services to top $4.6 billion in the U.S. by 2014.

Another similar dollar amount appeared in a 2009 Parks Associates report. That firm predicted that the wireless home health market would be worth $4.4 billion by 2013. It's a slightly different lens to view the industry through but it's remarkable how similar the time frames and dollar amounts among these three reports.

More from In-Stat's short press release below:

$4.5 Billion Wireless Data Spend from Healthcare in the US by 2014

SCOTTSDALE, Ariz., February 10, 2011 - Immediacy and mobility are primary objectives in healthcare. Medical caregivers seek portable access to data, patients’ status, records, diagnostic tools, prescriptions, and medications. Coordinating care, validating patient identity, billing for services, and preventing medical errors preoccupy professionals and are, at least, in part, driving the US healthcare vertical wireless data spending beyond $4.5 billion by 2014, according to new In-Stat (www.in-stat.com) research.

“Growing federal initiatives have increased the emphasis on digitizing records nationwide,” says Greg Potter, Research Analyst. “At the same time, disaster response and disease control increasingly require integration with governmental authorities. Add in an aging population, complex insurance company billing, patient identity protection, and drug theft and you have the perfect storm in the pursuit of a digital means to rein in personnel and asset management costs with a highly mobile medical workforce.”

Beyond just healthcare, US enterprises in general are continuing in their adoption of wireless solutions to business problems. According to In-Stat (www.in-stat.com), mobile 24/7 business imperatives continue to drive enterprises to meet focused demands for wireless voice and data. Real-time or near-real-time information for emergency alerts, financial market feeds, accurate price changes, or supply chain snafus preoccupies commercial users and provides a return-on-investment for wireless spending.

More over at In-Stat