FedSources releases in-depth report on Federal healthcare technology market

FedSources, a Washington Management Group company, has released an in-depth report analyzing spending trends within the Federal healthcare technology market, including health IT.

“The contractor addressable market for healthcare technology is much larger – $70 billion – and provides much more opportunity.”

According to “The Federal Healthcare Technology Domain” report, the U.S. Federal government will spend $385 billion on healthcare in GFY2010 (not including Medicare), with nearly $70 billion going to government contractors within the area of healthcare technology.

“It’s important to note that $70 billion will be spent on contracts within healthcare technology, not just health IT,” said Ray Bjorklund, Senior VP and Chief Knowledge Officer at FedSources, and author of the report.

“The definition of health IT says it’s specifically patient-centric. The contractor addressable market for health IT is about $900 million,” he said. “The contractor addressable market for healthcare technology is much larger – $70 billion – and provides much more opportunity.”

Spending Details

“The Federal Healthcare Technology Domain” report breaks down contractor-addressable spending into three categories: Health Research and Promotion, Health Protection, and Healthcare Delivery. The report maps out spending across each of these areas by the agencies with the largest healthcare technology budgets, and by the areas that will provide the most opportunity for government contractors.

“The message for contractors is, if you can help improve the effectiveness and efficiency of the federal healthcare system, you’re in a very good position,” Bjorklund said.