Healthcare IT Services – The Key to Boosting Back-Office Efficiencies, Improving Patient Engagement, and Facilitating Better and Preventive Care

Wed, 09 October 2019 3:41

Rising Use of Big Data

The use of big data is growing in the healthcare industry and, in turn, driving the growth of the healthcare IT services market. Episode analytics, population health analytics, virtual care, and wearable healthcare technologies are the key application areas for big data in healthcare. A few noteworthy examples of big data adoption in this sphere are:

  • United Healthcare, the largest health insurer in the U.S., is processing data inside a Hadoop big data framework using big data and advanced analytics to achieve a 360-degree view of each of its 85 million members
  • According to SAS Institute Inc., one of the largest hospital providers in California, ‘Dignity Health’ uses big data analytics platform and monitors 120,000 lives per month in 34 hospitals and manages 7,500 patients with potential sepsis per month

IT Infrastructure Constraints in Developing Countries

IT infrastructure plays an important role in enabling healthcare IT services. The lack of IT infrastructure in developing regions is restraining the growth of the global healthcare IT services market to an extent. For instance, Africa suffers from poor quality infrastructure, and infrastructure services gap remain high in the country. While this scenario impedes market growth in the region, government initiatives and undertakings promoting IT infrastructure development are expected to pave way for growth in the coming years. For example, African state and local governments endorsed the Programme for Infrastructure Development in Africa (PIDA) in 2012 and spent nearly 2.8% financing on ICT development.

Demand for Cloud-Based EHR Solutions

Smaller organizations with understaffed IT teams are extensively adopting EHR solutions to ease software deployment. These solutions allow users to pay by subscription; for instance, Allscripts charges providers a subscription fee of USD 100 per month to use its EHR software. According to Xtelligent Healthcare Media, LLC, the adoption of cloud-based EHR jumped from 60% in 2013 to 82% in 2015. It can thus be concluded that cloud-based EHR solutions are accelerating the demand for healthcare IT services.

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High Healthcare Spending in Developed Economies

North America’s healthcare IT services market is expected to reach a value of USD 42,268 million by 2023 and the recent surge in healthcare IT is creating a tremendous number of new jobs in the region. The growing demand for patient safety and data accuracy and increasing spending on healthcare drive the demand for healthcare IT services in Europe. For instance, in 2018, Germany’s healthcare spending was 11.2% of its GDP.

Investments in Developing Economies

Rapid urbanization, sedentary lifestyle, and rising prevalence of obesity and chronic diseases have created a need for better healthcare in Asia-Pacific; the region has the largest number of diabetics in the world (India: 69 million and China: 114 Million). Governments, private sectors, and non-profit organizations are aggressively investing in the healthcare IT market. For instance, the Singapore government launched several key technology initiatives and USD 2.3 billion has been allocated to advanced manufacturing and engineering research in healthcare through 2020.

Key Players

Some of the prominent players in the global healthcare IT services market are McKesson Corporation, Allscripts, GE Healthcare, Cerner Corporation, Siemens Healthcare GmBH, Becton, Dickinson and Company, Novartis, Global Healthcare Exchange (GHX), Epic System Corporation, Egton Medical Information Systems (EMIS), Atos SE, MedeAnalytics Inc., Koninklijke Philips N.V., Merge Healthcare, CGI Inc, Agfa Healthcare, and HP Development Company, L.P.

Healthcare IT Services Segmentation

By Type

  • Medical imaging
  • Consulting & outsourcing
  • Managed services
  • Order & inventory management
  • Document management
  • Others

By Application

  • Healthcare analytics
  • Patient care management
  • Fraud management
  • Others

By User

  • Payers
  • Providers

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

LAMEA

  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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