A healthcare information technology company and a provider of advanced integrated information software, clinical content and professional services that help healthcare organizations improve clinical, financial, and operational process.
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The RAND Corporation, a leading health care think tank, estimates the industry could save $162 billion per year through the simple IT upgrades. Switching records from a paper-based system to an electronic one and using bar coding and tracking software will save hospitals time and money, which will also lead to increased efficiency.
And the only way to make these changes is to put more money into health care IT. Last year, health care IT spending by doctors, hospitals, pharmacies, insurers, and the U.S. government totaled about $20 billion. So Obama's $50 billion plan is a significant boost.
Even accounting for a decrease in IT expenditures due to the recession, Obama's plan is enough to drive revenue and earnings to new heights for the sector.