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HIMSS11 Annual Conference and Exhibition Highlights and Key Takeaways


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A presentation on the key takeaways of the annual HIMSS conference, by industry manager Nancy Fabozzi.

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HIMSS11 Annual Conference and Exhibition Highlights and Key Takeaways

  1. 1. HIMSS11 Annual Conference and Exhibition:The Frost & Sullivan Perspective on Top Trends for the Health IT IndustryConference Highlights and Key Takeways April 2011 9837-48
  2. 2. Table of Contents* Slide Introduction 5 Conference Highlights 6 Thought Leader Opinions 9 Customer Opinions – Excerpts from the 2011 HIMSS 11 Leadership Survey Top Ten Industry Trends 20 Top Ten Featured Companies 31 Takeaways and Future Focus 42 Additional Resources 44 About Frost & Sullivan 45 *full study only9837-48 2
  3. 3. Introduction • The recent Health Information and Management Systems Society (HIMSS) annual meeting held in Orlando, Florida in late February 2011 provides a comprehensive overview for the state of the dynamic health IT market. The topics and tone of the meeting can be leveraged as a reliable harbinger for what’s in store for the coming year. Frost & Sullivan was in attendance and we present a summary of highlights, opinions, and market predictions as well as our “top ten” picks for health information technology trends and companies emerging from the HIMSS event. This Market Insight* includes – – A high level overview of the conference including summary statistics, selected feature events, trends in HIT adoption, and key market messages; – Selected quotes about the conference and the state of the industry from key thought leaders in government and business as well as excerpts from the 2011 HIMSS Leadership Survey to bring in the customer perspective; – Our selection of the top ten industry trends for 2011 plus selected companies (30 company mentions in total) and products to watch in each category; – Our selection and impression of the top ten health IT companies of particular interest for 2011; – Our thoughts on key takeaways and future focus for the industry; – Links to conference videos featuring interviews with key industry participants, meeting attendee lists, and educational presentations *full study only9837-48 3
  4. 4. Conference Overview HIMSS Annual Conference & Exhibition – February 20-24, 2011 • Summary Statistics – A record-breaking 31,225 attendees, > 400 education sessions*, and more than 1,000 exhibiting companies and organizations; by some accounts, the conference grew 20% over last year • Keynote Speeches – Robert Reich, Kathleen Sebelius, Dr. David Blumenthal, Michael J. Fox, and Richard Boyd spoke at the event; Reich cautioned that Medicare spending is the most important long-term problem facing the nation; Sebelius and Blumenthal stressed the importance of HIT in driving U.S. economic growth, signaling that federal legislators should not get in the way of the important progress that has already been made in this area; Fox tied in his foundation’s research into Parkinson’s disease with the IT industry’s efforts towards improving healthcare; and Boyd, Chief Architect at Lockheed Martin Virtual World Labs, spoke about healthcare uses for virtual reality • Selected Featured Events – HIT X.O – Beyond the Edge focused on innovation and provided a series of lectures focused on next generation technologies, innovative ideas, cutting-edge scientific advances – heavy focus on mobile apps – The Interoperability Showcase Connected Demonstration featuring key vendors demonstrating how their technologies integrate with other platforms as part of the emerging global HIT network – The Health IT Venture Fair & Strategic Partner Forum focused on emerging technology vendors and how to approach the investment community Educational session downloads available at 4
  5. 5. Conference Overview con’t HIMSS Annual Conference & Exhibition – February 20-24, 2011 • Trends in HIT Adoption – Many providers (particularly hospitals) appear to be either fully committed or well on the way to commit to a specific EHR solution – Hospitals are strongly motivated by fear over HITECH financial penalties as opposed to HITECH financial incentives – Providers are focused on preparing for future HITECH program and healthcare reform regulations, however, the absence of Stage 2 and Stage 3 definitions for meeting Meaningful Use (MU) seems to be a major sticking point for some – Many providers are preparing for or considering to launch an Accountable Care Organizations and very interested in learning about technology solutions that can help • Impact and Key Messages – While the hype factor was clearly present (as is the case with most trade shows) there was a strong shared sense that an era of transformation has truly begun and there is no going back – The number of participants and the overall high level of energy and enthusiasm is indicative of the strong interest in all things HIT; almost universal agreement that the industry is due for a significant growth trajectory over the next 2-5 years – Economic concerns that have recently impacted provider’s technology spending as been somewhat diminished, but new spending will be clearly focused on EHR, CPOE, and HIE solutions with scheduling , imaging, and RCM solutions take a back seat for now – Large IT companies are starting to make their move in the HIT space but small vendors, particularly in the emerging mobile app space, will be critical participants in driving innovation and excitement9837-48 5
  6. 6. Selected Comments from HIMSS Attendees HIMSS Annual Conference & Exhibition – February 20-24, 2011“ We believe there has never been a better time to be a healthcare innovator than today....incentives and information liberation will combine to deliver that rocket fuel for innovation...If hospitals and doctors can get rewarded financially for keeping us healthy, then weve created the market conditions for a whole new set of IT enabled services to support them in making the kinds of judgments they need to do that. Aneesh Chopra, Federal Chief Technology Officer, White House When it comes to EMR adoption (the US) is not high compared to a lot of countries like Australia, the UK, and Canada...when it comes to thinking about data sharing, we are probably ahead of other parts of the world because of the activities that have gone on at the ONC...Were at different points of the journey. Lorraine Fernandes, Global Healthcare Ambassador, IBM We’ve been hearing from some (physicians) that theyre beginning to talk with patients saying I need to have an electronic health record to take good care of you. And thats exciting. Once we get the information electronic, we can start moving it around and do useful things with it. Doug Fridsma, MD, PhD, Director, Office of Interoperability and Standards at ONCWere redefining healthcare and were doing it in a very rapid todays world we talk about a connected community ofhealth and its really important. Healthcare is getting connected right before our eyes; thats happened in every other majorindustry and its happening in healthcare today.. Glen Tullman, Allscripts (in an interview with Matthew Holt) ...this year the buzz was shifting away from the big vendors and towards the rise of the "Extender Companies", who are creating products and services which build around the larger ecosystem created by the established HIT infrastructures in place . Lyle Berkowitz, MD – drlyleblogspot.comPrivate payers are in the game (of IT) big time. Payers are buying analytics firms. They are watching doctors and hospitalsmerge and these integrated systems are taking on the risk-bearing role that the payers are providing. Thats waking them upand they are becoming active players in the market. Their primary medium is P4P programs. Jonathan Bush, CEO,athenahealth (in an interview with Neil Versel)9837-48 ” 6
  7. 7. The Era of Transformation Has Begun HIMSS Annual Conference & Exhibition – February 20-24, 2011 Future Focus • Analytics/Measuring Performance – Strong focus in coming two years; big IT vendors likely to dominate this space • Cutting Costs and Improving Care – provider and consumer facing products Top Takeaways and services that can help drive cost • HIT Sector Takes Off - In spite of a fair amount of vendor-induced hype, efficiencies will be highly sought after the HIT sector is taking off on a multi-year growth spurt driven by • HIE and Stage 2 MU – Government acceptance of the reality of healthcare reform and across-the-board need initiatives like the Direct Project will drive to change the way healthcare is delivered and paid for in the U.S. interest and innovation • Healthcare Structural Changes Favorable to Big Vendors- Big • HIPAA 5010 & ICD-10 Changeover – as companies including telecom and IT vendors are deeply interested in progress towards EHR implementations healthcare and will continue to forge strategic alliances as well as acquire continue through 2011, efforts will companies and technologies to take advantage of growing market inevitably turn to preparing for these two opportunities. Key vendors to watch in this space – IBM, Microsoft, Cisco, initiatives; companies with niche expertise Apple, and AT&T in coding will be acquisition targets for • Driving the Consumer Demand Side - Large IT companies with big R&D large vendors budgets and marketing know-how have the power to engage consumers Social Media – initial reluctance will be and influence behavior. A consumer-centric vs. patient-centric approach overcome; physicians, hospitals and other will take hold and ignite increased engagement and interest in HIT provider organizations will jump on board • The Innovation Effect and Need to be Agile - Increased HIT adoption at an accelerating pace, particularly for will drive innovation; small hospitals and vendors likely to lead here efforts around patient engagement9837-48 7
  8. 8. Contact Details Nancy Fabozzi Senior Industry Analyst Healthcare & Life Sciences IT nancy.fabozzi@frost.comFrost & Sullivan331 Evelyn Avenue, Suite 100Mountain View, CA 8
  9. 9. About Frost & Sullivan 9
  10. 10. Who is Frost & Sullivan • The Growth Consulting Company • Founded in 1961, Frost & Sullivan has over 45 years of assisting clients with their decision-making and growth issues • Over 1,700 Growth Consultants and Industry Analysts across 32 global locations • Over 10,000 clients worldwide - emerging companies, the global 1000 and the investment community • Developers of the Growth Excellence Matrix – industry leading growth positioning tool for corporate executives • Developers of T.E.A.M. Methodology, proprietary process to ensure o that clients receive a 360 perspective of technology, markets and growth opportunities • Three core services: Growth Partnership Services, Growth Consulting and Career Best Practices9837-48 10
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  12. 12. T.E.A.M. Methodology • Frost & Sullivan’s proprietary T.E.A.M. methodology, ensures that clients have complete “360 Degree Perspective” from which to drive decision-making. Technical, Econometric, Application, and Market information ensures that clients have a comprehensive view of industries, markets and technology. Technical Real-time intelligence on technology, including emerging technologies, new R&D breakthroughs, technology forecasting, impact analysis, groundbreaking research, and licensing opportunities. Econometric In-depth qualitative and quantitative research focused on timely and critical global, regional, and country specific trends, including the political, demographic, and socioeconomic landscapes. Application Insightful strategies, networking opportunities, and best practices that can be applied for enhanced market growth; interactions between the client, peers, and Frost & Sullivan representatives that result in added value and effectiveness. Market Global and regional market analysis, including drivers and restraints, market trends, regulatory changes, competitive insights, growth forecasts, industry challenges, strategic recommendations, and end-user perspectives.9837-48 12
  13. 13. Global Perspective • 1,700 staff across every major market worldwide • Over 10,000 clients worldwide from emerging to global 1000 companies9837-48 13