RFID in Healthcare Industry 2008-2012
30 Apr 2009 • by Natalie AsterRadio Frequency Identification, which is better known as RFID, can be translated as the use of radio frequencies to read and transmit information through the use of small devices called tags. These are currently being used by healthcare organizations in order to tackle new challenges.
Such challenges are “operational efficiency, patient safety, and improvement of the business processes”, declares one of the TechNavio experts. In fact, healthcare providers and payers, including patients, “are transforming the usage of RFID from technology that is used to reduce costs to facilitating, automating, and streamlining identification processes.”
Healthcare organizations, including hospitals, nursing homes, home healthcare facilities, health maintenance organizations, laboratories, clinics, physician offices, and pharmacies situated within hospitals, form the cumulative healthcare industry in the report, which has recently been published by TechNavio Insights.
According to the report "RFID in Healthcare industry 2008-2012, by 2012", “the market for RFID tags in healthcare industry is expected to reach $153.2 million driven by the development of lower cost tags and installed infrastructure, which will enable high volumes of articles to be tagged.”