In related anesthesia billing news, sales of anesthesia information management systems will result in a surge in the need for anesthesia, respiratory and sleep-management devices. A report from iData Research reports that the market will expand to around $4 billion by 2017.
The report revealed that the market for anesthesia, respiratory and sleep-management devices was valued at over $2.5 billion last year, representing a 3.7% increase over 2009. As additional companies enter the market, industry leaders will have to lower their prices in order to remain competitive.
“The market for anesthesia information management systems will increase by over 50% in 2012 as hospitals automate their anesthesia departments” (before health IT deadline included in the 2009 federal economic stimulus package), says CEO of iData Research Kamram Zamanian.
Additionally, iData Research released a companion report estimating that electronic health records and medical billing records will rake in over $7.4 billion in annual support revenue and sales by 2017, according to InformationWeek.