|By PR Newswire||
|April 3, 2014 10:34 AM EDT||
DUBLIN, Ireland, April 3, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/q5f3fp/healthcare_it) has announced the addition of the "Healthcare IT Outsourcing Market by Application & Industry - Global Forecast To 2018" report to their offering.
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The introduction of information technology in the healthcare and life sciences industries has quickened the healthcare process, thereby reducing costs while efficiently managing huge amounts of patient data. However, the adoption rate of healthcare information technology is still low in many regions due to the high costs incurred for implementation, maintenance, and up-gradation services; poor in-house IT skilled resources; and inadequate IT infrastructure. Outsourcing has emerged as an effective tool to combat these challenges. Outsourcing enables the healthcare and life sciences industries to focus more on their core businesses. Furthermore, it offers various benefits such as reduced operating costs, access to skilled resources, quick deployment, flexibility in the choice of technology and modules, improved cash flow, and risk sharing. The global HCIT outsourcing market is forecast to grow at a CAGR of 7.6%, to reach $50.4 billion by 2018 from $35 billion in 2013.
The healthcare IT outsourcing market for this report has been segmented by application and by industry. The application market is further classified as provider IT outsourcing, payer IT outsourcing, life science IT outsourcing, operational IT outsourcing, and infrastructure IT outsourcing. Provider IT outsourcing is further segmented into electronic health records (EHR), laboratory information management system (LIMS), pharmacy information system (PIS), and revenue cycle management (RCM) systems. Payer IT outsourcing includes the following sub-segments, namely, customer relation management (CRM), claim processing, billing system, and fraud and detection.
Life science IT outsourcing is divided into enterprise resource planning (ERP), clinical trial management system (CTMS), clinical data management system (CDMS), and R&D IT services. The sub-segments of operational IT outsourcing included for study are supply chain management (SCM), and business process management (BPM) outsourcing. IT infrastructure outsourcing is further divided into two prominent sub-segments, namely, infrastructure management services (IMS), and cloud computing. The market by industry is segmented as healthcare provider system (including hospitals, diagnostic laboratories, and clinics), biotechnology, pharmaceutical, clinical research organizations, and health insurance.
Factors propelling the growth of the market are the rising pressure to curb healthcare costs across the globe and the growing need to manage cash flow in back-office administration and IT management systems of healthcare providers, payers, and the life science segment. Lack of in-house IT expertise, rise in demand for integrating solutions, growing pressure on healthcare providers to meet the 'Meaningful Criteria' set by the U.S. Federal Government, new ICD-10 conversion guidelines for coding, rise in aging population, and growing medical tourism in Asia are some of the other factors that are also likely to drive the healthcare IT outsourcing market.
Key Topics Covered:
2 Executive Summary
3 Market Dynamics
4 Global HCIT Outsourcing Market, By Application
5 Healthcare IT Outsourcing Market By Industry
6 Geographic Analysis
7 Competitive Landscape
8 Company Profiles Overview, Products And Services, Financials, Strategy & Development)*
- Accenture PLC
- Accretive Health, Inc
- Allscripts Healthcare Solutions, Inc
- Anthelio Healthcare Solutions
- Cognizant Technology Solutions
- Dell, Inc
- HCL Technologies Ltd
- IBM Corporation
- Infosys Limited
- Mckesson Corporation
- Siemens Healthcare (Subsidiary Of Siemens AG)
- Tata Consultancy Services Ltd
- Wipro Limited
- Xerox Corporation
For more information visit http://www.researchandmarkets.com/research/q5f3fp/healthcare_it
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets