Allied Market Research reports that the global healthcare information technology (IT) market size was valued at $250,577.15 million in 2020, and is projected to reach $880,688.75 million by 2030, registering a CAGR of 13.3% from 2021 to 2030.
Data Bridge Market Research reports the market drivers and growth can be attributed to the increase in technological know-how, growing volume of patient data, and demand for quick and efficient healthcare processes and systems will help in driving the growth of the healthcare IT market. Increasing digitization in the healthcare industry and demand for value based care and rising cost of provision of healthcare services coupled with the increasing number of healthcare facilities will likely accelerate the growth of the healthcare IT market in the forecast period of 2020-2027.
Health IT Product News
LeanTaaS Launches First-Of-Its-Kind Perioperative Transformation as a Service to Guarantee Hospital Revenue and Profitability
LeanTaaS, Inc. (@leantaas), a company offering AI-powered and SaaS-based capacity management, staffing, and patient flow software for health systems, announced the launch of Perioperative Transformation as a Service (“TaaS”). This first-of-its-kind service delivers eight key outcomes for enhancing efficient care delivery that are proven to take perioperative optimization to levels previously unseen.
Trilliant Health Announces Release of Health Plan Price Transparency Analytics, Enabling Unique Insights Into Total Cost of Care and Inaugurating an Era of Value-Based Competition
Trilliant Health (@TrilliantHealth), a predictive analytics and market research firm in the healthcare industry, announced the release of its health plan price transparency analytics product.
Verana Health Unveils Qdata Anti-VEGF Market Tracker
Verana Health (@veranahealth) —a digital health company elevating quality in real-world data—announced the availability of its first market tracking Data as a Service (DaaS) product, which provides accurate and timely data and insights into product performance and market dynamics with direct data access.
MediMergent Leverages Patient-Centric Real-World Data and Evidence Platform to Capture the Voice of the Patient in National Cancer Trial
MediMergent, a Real-World Data (RWD) and Evidence (RWE) company, announces the implementation of its digital clinical trials platform for the collection and analysis of RWD in a large multicenter study entitled EIMPRIS (Engaging Immuno-Protection Intervention Study) focused on the prevention of symptomatic SARS-CoV-2 infection in cancer patients.
CenTrak Expands RTLS Wi-Fi Offerings and Multi-Mode Capabilities
CenTrak (@CenTrak) announced the launch of the Selective Certainty Solution within its Multi-Mode (MM) offering for asset tracking and management. Selective Certainty provides new and existing customers a low-cost, limited infrastructure option that leverages Wi-Fi networks from a variety of top providers, such as Cisco Systems, HPE Aruba Networking, and Juniper Networks. Healthcare facilities will benefit from faster time-to-value and gain zonal-level locating, as well as room-level certainty within chosen areas, without the need to pull cables for additional network infrastructure.
OMNIMED™ Announces Integration of SmartOR™ Into Axis Research & Technologies Facilities
Medical technology company OMNIMED (@OmnimedsmartOR) announced the official roll-out of its SmartOR™ technology platform across the U.S. via Axis Research and Technologies’ four locations (Irvine, Calif., Columbia, Md., Nashville, Tenn. and Chattanooga, Tenn.).
Inovalon Expands Patient Data Connectivity Network by 110% Over 12 Months — Now Enabling Access to More Than 67% of U.S. Healthcare Providers
Inovalon (@InovalonInc), a provider of cloud-based software solutions empowering data-driven healthcare, announced that the Inovalon ONE® Platform, the nation’s most widely used healthcare cloud platform, expanded provider connectivity by 110% over the 12 months, April 1, 2022 through March 31, 2023, and is now connected to more than 67% of all U.S. healthcare providers.
HealthSparq Launches New Solution to Address Provider Data Accuracy for a Better Consumer Experience
HealthSparq (@HealthSparq), a Kyruus company, unveiled Validated Provider Profiles to help health plans meet federal and state provider data requirements and improve the accuracy of member-facing directories.
Virtual Healthcare Product News
VA expands virtual reality for Veteran rehabilitation
VA’s Office of Healthcare Innovation and Learning (OHIL) has established a three-year collaboration with Penumbra to test, co-develop and scale additional virtual reality (VR) solutions. These solutions will ultimately increase Veteran access to rehabilitation care in Community Based Outpatient Clinics and at home.
Carium Enhances Care Experience Platform with Customizable Care Pathways
Carium (@cariumcares), a Care Experience Platform (CXP), is now offering extensive customization enhancements through its Care Pathways implementations.
HealthPoint Plus announces release of new Version 3.0 telehealth platform and more.
HealthPoint Plus Inc (@HealthPointPlus), a disruptive subscription-based Telehealth medical company who recently signed a LOI to merge with Stargaze Entertainment Group, Inc. (OTC Pink: STGZ), announces the release of HealthPoint Plus Version 3.0, a disruptive Subscription-Based Telehealth Platform.
TytoCare Receives FDA Clearance for its AI-Powered Tyto Insights™ for Wheeze Detection to Ensure Diagnostic Accuracy from Home
TytoCare (@TytoCare), a virtual care company enabling accessible, high-quality primary care from home, announced that it received FDA clearance for its Tyto Insights™ for Wheeze Detection, paving the way for its rollout in the US.
AI Product News
Viz.ai is First to Receive FDA 510(k) Clearance for AI Algorithm for Abdominal Aortic Aneurysm
Viz.ai (@viz_ai), a company in AI-powered disease detection and intelligent care coordination, announced it has received U.S. Food and Drug Administration (FDA) clearance for its algorithm intended to detect suspected abdominal aortic aneurysm (AAA). Viz AAA is the first FDA-cleared AI-powered solution for the detection and triage of suspected AAA.
Etiometry Announces CE Mark and Health Canada Authorization for Adult Use of AI-Based Algorithm that Detects Risk of Hypercapnia
Etiometry (@etiometry), a company in clinical decision-support software for critical care, announced CE Mark and Health Canada authorization of its IVCO2 Index™ for adult populations, which allows clinicians to visualize inadequate ventilation of carbon dioxide with other contextual data from the Etiometry Platform to help inform intervention decisions and get ahead of patient deterioration. The IVCO2 Index was first FDA-cleared for pediatric use in 2019 and now carries CE Mark and Health Canada licenses for both pediatric and adult use.
Nuance and Microsoft Announce the First Fully AI-Automated Clinical Documentation Application for Healthcare
Nuance Communications, Inc. (@NuanceInc), a Microsoft Company, announced Dragon Ambient eXperience (DAX™) Express, a workflow-integrated, fully automated clinical documentation application that is the first to combine proven conversational and ambient AI with OpenAI’s newest and most capable model, GPT-4. Extending the proven Dragon Medical portfolio of solutions and building on the market-leading DAX ambient solution launched in 2020, DAX Express is the next milestone in Nuance’s long-standing mission to reduce administrative burden and empower clinicians to spend more time taking care of patients and less time on paperwork. DAX Express makes available world-class AI to more than 550,000 Dragon Medical users, is enhanced by GPT-4, and amplified by the power of Microsoft Azure.
ThinkAndor® Leverages Open AI and Healthcare Trained GPT Models to Create the Next Dimension in Virtual Nursing
Andor Health (@andor_health), the company reinventing virtual health as a platform, accelerates Health First’s virtual rounding program by extending the program to support virtual nursing. Physicians and nurses are experiencing burnout leaving health systems overburdened and hospitals at capacity. Due to staffing shortages, hospitals are struggling to admit/discharge patients in a timely matter negatively impacting a patient’s length of stay. Forward-thinking health systems are solving these issues by implementing a unified, scalable virtual health strategy. ThinkAndor® provides a cohesive platform that leverages OpenAI & healthcare trained GPT that help orchestrate clinical workflows and curate appropriate clinical context to meet the rapidly changing needs of health systems.
Eko Launches SENSORA™ Cardiac Disease Detection Platform
Eko (@Eko_Health), a digital health company applying artificial intelligence (AI) in the fight against heart and lung disease, announced the launch of the SENSORA™ Cardiac Disease Detection Platform. SENSORA™ currently features AI that objectively identifies structural murmurs, a sign of valvular heart disease, and Care Pathway Analytics software that provides downstream visibility and metrics of the patient journey through the healthcare system.
FDA Medical Devices
Approved in March 2023
The FDA regulates medical devices sold in the United States to assure their safety and effectiveness. Medical devices range from simple tongue depressors and hospital gowns to complex programmable pacemakers and robotic surgical systems. Their Medical Device Product Classification database lists over 6,000 types of medical devices regulated by FDA’s Center for Medical Devices and Radiological Health (CDRH) and the classification assigned to each type. Depending on the device classification, along with other factors, federal regulations (such as the Code of Federal Regulations, Title 21) define requirements that must be fulfilled for CDRH to approve or clear devices sold in the United States.
Here are the recently approved devices in March.