— Healthcare Organizations are Prioritizing IT Spending to Support Electronic Health Records, Disaster Recovery, Healthcare Data Warehousing and Information Governance Initiatives —
CommVault (NASDAQ: CVLT) — OCEANPORT, NJ — February 22, 2011
- CommVault's survey of its healthcare customers reinforced the top business drivers influencing increased investments in data and information management technologies for 2011. The survey polled 30 CommVault customers which included major healthcare institutions, multi-hospital systems, regional health centers and outpatient facilities nationwide.
- According to the survey, respondents cited the need to ensure regulatory compliance, plan for disaster recovery and support new applications and systems as the three leading business priorities driving IT spending decisions this year.
- Moreover, 40 percent of those polled ranked electronic health records as their number one IT spending priority for 2011. Disaster recovery/business continuity planning was considered so important by the respondents that it was ranked second and third in priority. Healthcare data warehousing and information governance were tied for third priority among those polled.
- CommVault believes that healthcare organizations are embracing CommVault® Simpana® software to replace disparate product silos with an integrated platform and singular, policy-based approach for protecting, archiving, searching and discovering massive amounts of clinical, research and patient data.
.@CommVault's healthcare survey respondents cite regulatory compliance and disaster recovery as drivers for IT spending http://bit.ly/tHOP
Exponential Storage Growth & Escalating Demand for Information Retention
- According to a recent research report by Enterprise Strategy Group, entitled "North American Health Care Provider Information Market Size & Forecast,"1 total data associated with all North American healthcare providers will grow from nearly 3,000 PBs last year to nearly 14,000 PBs by 2015, which represents a 35 percent compound annual growth rate.
- Of the respondents to CommVault's survey, one-third manages 26-75 TBs using Simpana software and another 20 percent rely on CommVault to manage more than 150 TBs of data. Additionally, two-thirds of those polled are using Simpana software to protect critical electronic medical record (EMR) systems from vendors including McKesson, General Electric, Epic, Siemens, Meditech and Allscripts.
- According to the CommVault survey, approximately one-third of the survey respondents are currently involved in a Health Information Exchange (HIE), which is fueling the development of a nationwide network of interoperable health records. CommVault believes that IT governance concerns and increased complexity are hindering HIE adoption. As healthcare organizations address these challenges through a unified approach to information management, CommVault expects HIE adoption to increase.
- Seventy-seven percent of the survey respondents said they were not penalized in the past 24 months for failure to meet external reporting or regulatory requirements due to faulty or lack of data. Yet, only 37 percent of the participants have implemented an eDiscovery/enterprise search solution to support regulatory compliance around HIPAA or PCI.
- CommVault believes that continued pressure to meet nationwide HIE and EMR mandates will accelerate adoption of solutions that simplify, speed and reduce the cost of search and eDiscovery while ensuring a higher level of compliance with patient data security requirements.
Jay Savaiano, healthcare business development manager for CommVault:
Data is exploding in the healthcare industry, which is causing institutions of all sizes to look for ways to reduce the cost and complexity of managing separate silos of data across clinical, operational and imaging environments. For example, 80 percent of those who responded to our survey expect to see the most data management growth across their PACS and EMR systems. As a result, CommVault customers in the healthcare industry are relying on Simpana software to centrally access, share and manage all types of patient- and healthcare-related data across a multitude of systems."
Brian Babineau, vice president, research and analyst services for Enterprise Strategy Group:
"Research data from our latest healthcare market forecast demonstrates that institutions want widely available and easily accessible digital assets in order to enhance business processes, improve patient care and reduce costs. With its singular product architecture and common set of information and data management policies, CommVault is well positioned to help healthcare organizations elevate digital asset retention and records management while enabling them to meet increased demands for compliance, corporate governance and litigation support."
1 North American Health Care Provider Information Market Size & Forecast by John McKnight and Brian Babineau with Jennifer Gahm, January 2011.
A singular vision – a belief in a better way to address current and future data and information management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unprecedented control over data growth, costs and risk. CommVault's Simpana® software modules were designed to work together seamlessly from the ground up, sharing a single code and common function set, to deliver superlative Data Backup, Archive, Replication, Search and Resource Management capabilities. More companies every day join those who have discovered the unparalleled efficiency, performance, reliability, and control only CommVault can offer. Information about CommVault is available at www.commvault.com. CommVault's corporate headquarters is located in Oceanport, New Jersey in the United States.
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Customers' results may differ materially from those stated herein; CommVault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding CommVault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. CommVault does not undertake to update its forward-looking statements.
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