More tech firms to tap into healthcare market share

(11/25/2008)

Technology firms that traditionally have not been involved in healthcare may attempt to tap into the industry. Reuters reports that a growing number of technology companies are considering foraying into healthcare to claim a piece of the $2.5 trillion market in the United States. Several companies have started developing tools to reduce healthcare costs and improve patient care, Reuters says. In addition to Google and Microsoft's new online personal health record applications, Intel introduced a patient monitoring system to help doctors remotely track patients with chronic diseases. Companies with a history in the healthcare market, such as General Electric and Phillips, are expected to increase their efforts. General Electric's $17 billion healthcare unit estimates its technology sector could grow to a $5 billion–$7 billion business, up from the estimated 10% of revenue it currently represents, Reuters says.
-