Healthcare IT Outsourcing Market Size, Analysis, and Forecast Report: 2015-2025
Healthcare Information Technology encompasses all technologies and software based solutions that are utilized in modern healthcare environment. There are infinite capabilities and opportunities in the field of Healthcare IT over the world. With the fastest transformations taking place in developed countries such as United States and the Big 5 in Europe. Outsourcing of IT to countries where cheaper solutions may be obtained has been greatly exploited by companies in developed countries. Countries such as India, China, Indonesia and Singapore have been IT outsourcing hubs for other nations since the capital required to be spent in developing IT solutions in these regions is only a fraction of what may be demanded in developed countries. Skilled intelligent resources are available at very low labor costs due to a significant currency exchange hence; outsourcing has become one of the largest opportunities that has increased the economy of several nations in past few years. Major areas where healthcare IT may be employed includes biomedical research and development such as pharmaceutical research, genetics and proteomics, life science IT, biotechnology, biosimulation and disease research among others. In a rising trend, numerous applications of IT can be found in hospitals and healthcare facilities management, forensics and insurance as well.
Healthcare Information Technology encompasses all technologies and software based solutions that are utilized in modern healthcare environment. There are infinite capabilities and opportunities in the field of Healthcare IT over the world. With the fastest transformations taking place in developed countries such as United States and the Big 5 in Europe. Outsourcing of IT to countries where cheaper solutions may be obtained has been greatly exploited by companies in developed countries. Countries such as India, China, Indonesia and Singapore have been IT outsourcing hubs for other nations since the capital required to be spent in developing IT solutions in these regions is only a fraction of what may be demanded in developed countries. Skilled intelligent resources are available at very low labor costs due to a significant currency exchange hence; outsourcing has become one of the largest opportunities that has increased the economy of several nations in past few years. Major areas where healthcare IT may be employed includes biomedical research and development such as pharmaceutical research, genetics and proteomics, life science IT, biotechnology, biosimulation and disease research among others. In a rising trend, numerous applications of IT can be found in hospitals and healthcare facilities management, forensics and insurance as well.
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<strong>Healthcare</strong> <strong>IT</strong><br />
<strong>Outsourcing</strong> <strong>Market</strong><br />
Share, Global Trends,<br />
<strong>Analysis</strong>, Research, <strong>Report</strong>,<br />
Opportunities,<br />
Segmentation <strong>and</strong> <strong>Forecast</strong>,<br />
<strong>2015</strong><br />
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<strong>Report</strong> Description<br />
<strong>Healthcare</strong> Information Technology encompasses all technologies <strong>and</strong> software based<br />
solutions that are utilized in modern healthcare environment. There are infinite<br />
capabilities <strong>and</strong> opportunities in the field of <strong>Healthcare</strong> <strong>IT</strong> over the world. With the<br />
fastest transformations taking place in developed countries such as United States <strong>and</strong> the<br />
Big 5 in Europe. <strong>Outsourcing</strong> of <strong>IT</strong> to countries where cheaper solutions may be obtained<br />
has been greatly exploited by companies in developed countries. Countries such as India,<br />
China, Indonesia <strong>and</strong> Singapore have been <strong>IT</strong> outsourcing hubs for other nations since<br />
the capital required to be spent in developing <strong>IT</strong> solutions in these regions is only a<br />
fraction of what may be dem<strong>and</strong>ed in developed countries. Skilled intelligent resources<br />
are available at very low labor costs due to a significant currency exchange hence;<br />
outsourcing has become one of the largest opportunities that has increased the economy<br />
of several nations in past few years. Major areas where healthcare <strong>IT</strong> may be employed<br />
includes biomedical research <strong>and</strong> development such as pharmaceutical research,<br />
genetics <strong>and</strong> proteomics, life science <strong>IT</strong>, biotechnology, biosimulation <strong>and</strong> disease<br />
research among others. In a rising trend, numerous applications of <strong>IT</strong> can be found in<br />
hospitals <strong>and</strong> healthcare facilities management, forensics <strong>and</strong> insurance as well.<br />
The market for <strong>Healthcare</strong> <strong>IT</strong> outsourcing can be segmented by applications <strong>and</strong> End<br />
Users such as for Hospitals, the popular solutions encompass Hospital Information<br />
Systems, Electronic Health Records, Pharmacy Information, Laboratory Information<br />
Systems, Hospital Inventory Management, E-Prescription, Expensive Equipment<br />
Monitoring, Revenue Cycle Management, Clinical Decision Support <strong>and</strong> others recent<br />
applications such as picture archiving <strong>and</strong> communication systems or PACS.
<strong>Report</strong> Description<br />
. For Pharmaceutical <strong>and</strong> Life Science Research, the popular <strong>IT</strong> solutions include, eClinical<br />
Solutions, Clinical Database Management, drug modeling, biosimulation, patent study<br />
<strong>and</strong> enquiry, drug database integration, lab integration, laboratory equipment solutions.<br />
In other healthcare areas such as Insurance, major applications include provider facing,<br />
complex interaction <strong>and</strong> clearing houses, real-time eligibility verification, <strong>and</strong> eClaims.<br />
Several other areas include medical device software,smart cards, asset tracking <strong>and</strong><br />
patient tracking, telemetric systems <strong>and</strong> remote patient monitoring.<br />
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Due to the diverse number of applications, the market for <strong>Healthcare</strong> <strong>IT</strong> outsourcing is<br />
highly fragmented, with a large number of core competencies in each organization. This<br />
trend is also similar <strong>and</strong> in t<strong>and</strong>em with the overall <strong>IT</strong> market. Realizing an <strong>IT</strong> solution for<br />
a complex healthcare problem requires in-depth underst<strong>and</strong>ing of the complete system<br />
since it requires healthcare experts to work in t<strong>and</strong>em with the developers. The<br />
<strong>Healthcare</strong> <strong>IT</strong> market is led by North America with the largest share particularly due to a<br />
high number of healthcare companies in the region, highly innovative <strong>and</strong> unique<br />
requirements.Major factors driving the growth of outsourcing healthcare <strong>IT</strong> solutions is<br />
presence of skilled labor, management of big data, affordability in the region, necessity of<br />
reducing increasing costs in research <strong>and</strong> development, meeting dem<strong>and</strong>s of an ever<br />
increasing population, increasing automation in healthcare, need of complex analytical<br />
tools in healthcare environment <strong>and</strong> burgeoning fields in healthcare such as medical<br />
devices.
<strong>Report</strong> Description<br />
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Notable companies in the sector operating over the world include HCL Technologies,<br />
Cognizant Technology Solutions, Wipro Ltd, Hewlett-Packard, McKesson Corporation,<br />
Accenture Plc, Infosys Ltd, Tata Consultancy Services Ltd, Dell Inc., TriZetto, GeBBS<br />
<strong>Healthcare</strong> Solutions, GE <strong>Healthcare</strong>, Siemens <strong>Healthcare</strong>, RelayHealth, AllScripts,<br />
SureScripts, Zensar <strong>Healthcare</strong> <strong>IT</strong>, Carestream Solutions, Google Inc, Syntel, SAP <strong>and</strong><br />
several others contribute to a significant share of the global market.<br />
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