Tuesday, February 10, 2009

XBRL and HL7 thoughts

Kurt Cagle has a great new article on his blog on the O'Reilly Community site titled "XBRL Becomes Mandatory - This Should be Interesting", where he writes (emphasis added by me):

"From the IT perspective, the formal adoption of XBRL as a mandatory requirement is likely to have a number of implications, not least of which being a suddenly high demand for XML skilled people in general, and XBRL people in particular, as well as a boon for XBRL service providers and tools vendors. As with the OOXML/ODF controversy of 2007, it is very likely that 2009 will be a banner year for XML technologies in general, as two of the key issues that are highly visible this year - financial transparency within corporations and the streamlining of health care, both involve rich XML standards - XBRL for financial reporting, HL7 v3 for electronic health records."

I couldn't agree more, which is why we released support for both XBRL and HL7 in our recent v2009 product line. Make sure you read Kurt's entire article, as he has some great thoughts and insight on the current economic situation as well.

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