Bradley Merrill Thompson, a Member of the Firm in the Health Care and Life Sciences practice, in the Washington, DC office, was quoted in an article titled "Med Management Market to Pass $1.6 Billion by 2019."

Following is an excerpt:

In addition to government initiatives driving more accountability in patient care, concerns around lowering medication errors and adverse drug events are steadily increasing the value of the global market for medication management, according to a new report.

Currently, the market is worth $845 million, according to the report. By 2019, that number is expected to surpass $1.6 billion, thanks to compound growth of 14 percent annually. North America, predicted to be the largest market, will account for roughly 63 percent of that figure, the report notes.

Meanwhile, Brad Thompson--a health attorney with Epstein Becker Green who serves as general counsel for several groups, including the CDS Coalition and the CDS Consortium--has said potential future legislation of decision support technology could create mass confusion among industry stakeholders.

"With regard to getting [legislation] right, there are so many pieces of software out there right now that do very important job--such as assist a radiologist in evaluating whether images suggest cancer or not," Thompson told FierceHealthIT. "You have software at the high end that does very important jobs and the task is to make sure that the stuff that is high-risk remains regulated. If they don't get the legislation right, what they'll do, unfortunately, is cause some high-risk software to not be subject to FDA regulation, and the risk is that it won't work right and somebody gets hurt."

Jump to Page

Privacy Preference Center

When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalized web experience. Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.

Performance Cookies

These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.