Health Information Technology
Historically, health information technology (“HealthIT”) included electronic systems and solutions—including hardware and software—for health care professionals and patients.
Electronic health records, computerized provider order entry, prescribing systems, lab and clinic information systems, and telemedicine are growing components of eHealth systems and data.
Globally, the HealthIT market is estimated at more than $40 billion, with revenues expected to exceed $200 billion by 2021.
Artificial intelligence and predictive modeling are the foundations for successful HealthIT companies. Obtaining, maintaining and securing accurate data is critical. HealthIT often encompasses both financial and patients’ health care records, making the security of such patient health records essential.
More recently, HealthIT has extended to the consumer realm, where wearable technology is used to record, monitor and even analyze user health and fitness information. Finally, other HealthIT companies are providing data analytics to optimize and guide the work of medical professionals.
While the sector has seen tremendous growth and potential, HealthIT entrepreneurs face unique challenges, not the least of which are evolving regulatory and business risks.
From a business perspective, HealthIT companies require capital, strategic tax and accounting advice, as well as connections to a host of support professionals.
EisnerAmper’s assurance, tax and advisory professionals have the requisite experience and knowledge to meet the unique needs of HealthIT companies globally.
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Marc Fogarty, Audit Partner and National Biotech Sector Leader, within Technology and Life Sciences Group, and member of the firm's Public Companies, Cleantech and International Services Groups. Marc is experienced in public accounting, serving public and private organizations and has presented on IFRS to professional groups.
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