Healthcare IT Outsourcing Market The market is estimated to be USD XX billion in 2017 and is projected to reach USD XX billion by 2022, growing at a CAGR of XX% during the forecast period from 2017 to 2022.
Outsourcing can be defined as the process in which an organization selects the most efficient third party to deliver some selected services like data management, operational management or administrative services. Outsourcing is a new phenomenon in the healthcare sector, as is IT. It won’t be an exaggeration to say that IT in healthcare is the real cause of the emergence of this outsourcing phenomenon and has certainly resulted in the steep growth in this market.
The healthcare industry is in its transformation phase, moving towards a patient-centric and value-based approach, and this transformation has helped in the growth of this market. The report details several factors driving and restraining the market. In addition, it discusses the opportunities faced by the market players. Some of these are listed below.
Some of the factors contributing to the growth of this market are:
Shortage of in-house properly trained IT professionals Lack of infrastructure or funding required for better and secured IT facilities. Government focus on introducing IT in healthcare and eagerness to provide any support needed for implementation of this Need to reduce operational cost for healthcare providers in order to move a step ahead in cutting healthcare cost Need to improve efficiency Restraints
The technology also has certain constraints to overcome, such as lack of standardization in terms of entering data or storing it. This creates a significant gap between what the healthcare provider expects and what the third party has and this gap adversely affects the relationship between them.
The technology has several opportunities as well. Implementation of trends in the medical-IT field, such as precision medicines, EHR, analytics-driven personalized medicines, clinical DSS, health and disease management, the emergence of smaller innovative players and emerging economies present significant opportunities for this sector.
The global healthcare IT outsourcing market is segmented on the basis of application (payers HCIT outsourcing market (hospital information system (HIS), laboratory information system (LIS), radiology information system (RIS), electronic medical records (EMR)), providers HCIT outsourcing market (revenue cycle management (RCM) system, healthcare analytics, supply chain management)), end-user (healthcare, pharmaceuticals, biotechnology, research, and others), and geography (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).
The primary stakeholders of this technology are healthcare IT firms, healthcare analytics vendors, care organizations, health insurance providers, healthcare payers, healthcare providers, research firms and venture capitalists.
Some of the key players in the market are:
Cerner IBM McKesson Oracle Philips Healthcare Key Deliverables in the Study
Market analysis for the Healthcare IT Outsourcing Market, with region-specific assessments and competition analysis on the global and regional scale. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the healthcare IT Outsourcing market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.