Thinking Globally: The Strength of the U.S. Health IT SectorJuly 12, 2013
Justin Fisk is an intern in the International Trade Administration’s Trade Promotion Coordinating Committee. He’s a graduate of the University of Georgia, taking graduate courses at the George Washington University. David Collier is an intern in ITA’s Office of Public Affairs, studying International Relations at the University of Missouri.
For some Health Information Technology businesses, exporting their products globally may seem even more difficult than creating them. That’s why the International Trade Administration (ITA) exists: to help U.S. companies compete in the global marketplace.
As part of that mission, the White House and Business Forward hosted a roundtable on the international Health IT market, bringing together industry stakeholders and exporters. The event featured discussions about the opportunities for increasing Health IT exports, and how resources from ITA and the U.S. government can help businesses take advantage of those opportunities.
The U.S. Health IT sector is a dynamic and important part of the economy, and the global market is expected to grow to $250 billion by 2015 as a result of increased investment in healthcare and health systems around the world.
That’s why the Administration has made this sector a priority for the National Export Initiative (NEI), which President Obama launched in 2010 with the goal of doubling U.S. exports by the end of 2014.
The NEI is part of the President’s plan to strengthen America’s economy, support additional jobs here at home, and ensure long-term, sustainable growth.
Representatives from more than 40 companies attended the roundtable, including executives from Oracle, Intel, and Dimensional Insight. Many of these firms, from large corporations to small businesses, have successfully taken advantage of government resources to help find new markets and export to growing foreign markets.
ITA’s resources can help companies export for the first time, and help find new markets for more experienced exporters.
Events like the recent roundtable is that it allows the ITA to meet face-to-face with companies, and design new resources based on the concerns of private industry.
Although these companies represent diverse subsectors of the Health IT industry, they are united in their desire to share their story. These firms understand that exporting can be challenging, but in an increasingly globalized world, companies must think globally. Fortunately, U.S. firms of all sizes are not alone. The government is ready to help.
If your company wants to think global, please visit your nearest U.S. Export Assistance Center for assistance.