Hospital information laboratory systems software license markets are growing as the Internet dominates e-commerce channel adoption. Supply chain automation is a market driving force that permits sharing of laboratory results with multiple services providers simultaneously. Integration of applications by the hospital information laboratory systems is a fundamental aspect of making lab information widely available.
The market for hospital IT laboratory solutions is specialized, rapidly evolving, and subject to rapid technological change. The breadth and quality of solution and service offerings, the stability of the solution provider, the features and capabilities of the information systems and devices, the ongoing support for the systems and devices and the potential for enhancements and future compatible software solutions and devices are significant market aspects.
The central issue with laboratory information systems vendors is safety and accuracy of results tracking. Laboratory results are distributed to a number of locations inside the hospital and to physicians. The accuracy of the results is a significant factor in determining the quality of care delivery.
Hospitals are pushing for increased reimbursement, as market forces from the government seek to drive down costs. Automated hospital management systems hold the potential to make care delivery more efficient. The motivating factor is to reduce the costs of health care delivery. Escalating health care costs is a central concern for insurers including the government.
Laboratory systems need to link the wings within the hospital and be operational across multiple facilities. Systems need to interact at the right junctions to realize true benefits. IT solutions need to function across the emergency department to the lab to the pharmacy to the physician office. Caregivers need applications designed to support their own work. Applications built independently and with different communication operate in silos that need to be integrated.
Laboratory information systems markets at $114.7 million in 2006 are anticipated to reach $205.8million by 2013. Growth comes as the electronic patient record requires more automated systems to make transfer of patient information rapid and transparent. Automated systems will decrease labor costs.