BioHeaIth Innovation aims to transform Central Maryland into a commercialization hub by building an entrepreneurial ecosystem using the research, funding, networks and business development resources available in the region.
The market for Health Information Technology concepts and new products are moving at a rapid pace. Since the signing of the Health Information Technology for Economic and Clinical Health Act (HITECH) by President Obama in 2009 that allocated $36 billion to aid investments in healthcare IT and spurring new initiatives like the Office of the National Coordinator for Health Information Technology (ONC) the environment and funding available to test new products significantly escalated.
Fast forward four years—there remains to be enormous untapped market opportunity with many new products being brought to fruition and highly innovative new concepts under development by the private and public sectors.
Maryland, a significant center of the health care industry nationally and home to the National Institutes of Health, Food and Drug Administration, Johns Hopkins University, the University System of Maryland, and a robust private sector has emerging opportunities within the Health IT industry sector from telemedicine and remote monitoring to electronic medical records and mobile health.