New analysis from Frost & Sullivan U.S. Central Station Patient Monitoring Market, reveals that revenues in this market totaled $332 million in 2005, and expect to reach $412 million in 2012.
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“Increasingly, central station patient monitoring is becoming more integrated and synchronized with the Hospital CIS and IT network,” notes Frost & Sullivan Research Analyst Mike Arani. “This has helped drive the demand for more efficient middleware applications and generated opportunities for healthcare IT and software providers to play a larger role in this market.”
Hospitals tend to upgrade systems to tighten patient monitoring by implementing more intelligent and responsive patient monitoring solutions. Therefore, upgrades and new system implementation will be the major areas of growth for the U.S. central station patient monitoring markets. Moreover, new bedside and telemetry monitors will require new central stations to link them together.
On the other hand, the complex return on investment for high-end solutions remains a significant market restraint, limiting demand. Although hospitals are reimbursed for tests, medical procedures, and hospital stays, the amount varies with the number of parameters monitored during the hospital stay.
“Whether the facility is equipped with the latest central monitoring features and CIS system or the traditional central stations does not affect the reimbursement amount,” notes the analyst of this research service. “Coupled with the budget restraints effect, this challenge could noticeably dampen the central station market."
Patient monitoring vendors can minimize the effect of hospital budget limitations by maintaining competitive pricing for central station expansions and upgrades. Aside from the total initial implementation cost, the key is to offer solutions that promise long-term cost-effectiveness.
U.S. Central Station Patient Monitoring Market is part of the Patient Monitoring Subscription. It provides an overview of this market through estimates and forecasts of market revenues and pricing analysis, along with an in-depth discussion of market drivers, restraints, industry challenges, strategies, and trends that are impacting the U.S. central station patient monitoring market. Interviews are available to the press.
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