Deltek Analyst Stephen Moss reports.
In a recent report by Price Waterhouse Coopers’ (PWC) Health Research Institute, the U.S. health care market was called a goldmine of opportunity. This sector for opportunity has inspired companies and entrepreneurs to run to the health care market in ways that evoke the spirit of the 49ers who flocked to California in search of treasure. Unlike those singularly-focused, often disappointed prospectors, the PWC report and current market indicators give business prospects far more concrete information to base their gold fever.
Though focused mostly on businesses that sell products to other businesses or health care providers, I think the PWC report could also be adapted to the needs of the government with respect to health information technology (HIT). The fact that 76 percent of Fortune 50 companies are involved in health care came as no surprise to those of us at Deltek who study the health care market. Indeed, the riches that await those companies when selling a solution or innovation to the government are not hidden in hard-to-access places. Instead, they are published daily in legislation, grant applications, and federal regulations. The passage of the Affordable Care Act (ACA) is the most notable example of gold on display for business in the HIT space.
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