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08/06/05
US e-Health marketplace offers UK SMEs growth opportunities New research provides UK healthcare IT SMEs with advice on expanding their business in to the US. A new report has been launched today to help UK healthcare IT SME’s enter the US market. The report has been commissioned by Intellect, the Association of British Healthcare Industries (ABHI) and UK Trade & Investment (UKTI). The report, 'Entering the US Market - Recommendations for British SMEs', provides an in-depth analysis of the US healthcare IT market. It comes following preliminary research commissioned by Intellect and UKTI in 2003, which identified the US as one of the top ten markets for UK Healthcare IT SMEs wanting to go global. While it is apparent that breaking in to the US will be no easy task, there is great potential for growth and UK suppliers need to understand how the US market operates in order to get their foot in the door. The three key factors identified to help UK firms break in to the US are: 1. Find a partner 2. Enter the market with an innovative product not just a new face 3. Understand the complexities of the US healthcare systems Commenting, Sinead Quinn, Healthcare Programme Manager said, "Intellect wants to ensure that UK Healthcare IT SMEs are able to make informed strategic business decisions about entering new markets and have all the support they need. This research is an excellent analysis showing that, even though breaking in to the US market is difficult, it is not impossible and can be achieved with the right considerations". John Wilkinson, Director General of the ABHI said, "The Healthcare Industries Task Force (HITF), a joint initiative between UK industry and government, has just identified the US as the most important of the five target markets for British healthcare technology firms. This report will help SMEs wanting to tap the potential of the US, who do not have the same export knowledge and resources that large firms have at their disposal." The research explains the competitive and technological environment in the US, providing UK healthcare IT SMEs with the vital information they require in order to competitively expand their international business. It covers areas such as: US market trends, drivers, opportunities, entry strategies and barriers; recommendations for the clinical management systems and tele-health markets; partnership identification; UK government assistance and support to UK SMEs and how to build profitable American business relationships. This reports comes as the fourth part of an intense project previously focussing on e-Health markets in Australia, Canada and Germany. Together, the four pieces of research ensure UK companies have free access to relevant information, which will support informed decisions on whether and how to develop business in these markets. The study is available to all UK companies interested in taking advantage of these international markets. The report can be found through Intellect’s website and UKTIs.
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