Every faction of the U.S. healthcare industry, from hospitals to physician practices, will be contributing to a robust expenditure projected to exceed $69 billion over the next six years. The ticket item: telecommunication services.
A new market study released by Insight Research Corporation predicts costs for telecommunication services will increase at a compounded frequency of 9.7 percent over the upcoming six-year span. Investment will begin at $9.1 billion in 2012 and then continue to snowball until it reaches $14.4 billion in 2017, a progression facilitated by the healthcare employment rate expansion, which is increasing 2.5 times faster than the total national employment rate, and the 16 percent upsurge in the number of healthcare locations.
"Healthcare providers are avid consumers of telecommunications services and new technology. The combination of increased demand for wireless and broadband access, massive data storage demands, and the conversion to electronic health records EHRs and procedures is straining existing healthcare networks," said Fran Caulfield, Insight Research Director. "Our research measures key operational factors, such as population trends, patient monitoring and cloud-based storage requirements, and then we quantify the demands for telecommunications services and equipment that will be needed to satisfy these demands. No surprises; the research points to strong demand," she added.
Outer influence from federal government policies, maturing generations and healthcare worker scarcities are also contributing to this demand, vying for substitute routes by which modern treatment practices can be enhanced. Outdated administrative systems in conjunction with the ever-widening proximity between patient and provider are two prime perpetrators behind the high costs plaguing the current system. The 158-page report, "Telecommunications, IT, and Healthcare: Wireless Networks, Digital Healthcare and the Transformation of US Healthcare, 2012-2017" states -- and Caulfield agrees -- that telecommunications will be able to conquer this divide, reuniting patients and providers for a more successful venture into the technological future of healthcare.