About Healthcare IT Outsourcing
Healthcare is one of the most projecting sectors across industries. Diagnosis and treatment remain the significant goal of healthcare organizations. Currently, most of the organizations are outsourcing the IT to a third-party service provider, so that they can focus on their core competencies and adequately allocate their resources. Healthcare organizations outsource their IT services in order to decrease their operating cost, improve the company’s focus, and provide customers with quality care, and gaining access to advanced capabilities. The third-party IT service providers will provide with the best-practice solutions to the healthcare organizations and also will provide with value-added services to the customers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 7.0% |
The major companies which are offering healthcare IT outsourcing services are Accenture Plc., Accretive Health, Inc., Allscripts Healthcare Solutions, Inc., Anthelio Healthcare Solutions, Inc., IBM, among others. The companies are focusing on the goal to provide the best IT services with possible minimum cost. Some of the key companies are focusing on Offshoring strategy, so as to reduce the cost of labor. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Healthcare IT Outsourcing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Accenture Plc (Ireland), Accretive Health, Inc. (United States), Allscripts Healthcare Solutions, Inc. (United States), Anthelio Healthcare Solutions, Inc. (United States), Cognizant Technology Solutions (United States), Dell, Inc. (United States), HCL Technologies (India), Hewlett-Packard Company (United States), International Business Machines (IBM) Corporation (United States), Infosys Limited (India), McKesson Corporation (United States) and Siemens Healthcare (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Tata Consultancy Services Ltd. (India), Wipro Ltd. (India), Xerox Corporation (United States), Epic System (United States) and Computer Sciences Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Healthcare IT Outsourcing market by Type (Electronic Health Record (EHR), Payer HCIT Outsourcing, Operational HCIT Outsourcing, Life Sciences HCIT Outsourcing and I.T Infrastructure Outsourcing) and Region.
On the basis of geography, the market of Healthcare IT Outsourcing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Industry, the sub-segment i.e. Healthcare Provider System will boost the Healthcare IT Outsourcing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Healthcare IT Outsourcing Is a Viable Solution to Curtail Healthcare Costs in Each Region, Shortage of In-House IT Professionals, The requirement to Meet the Criteria of Meaningful Use To Receive Incentives by the Federal Government, Accountable Care Organizations, Reduction in Operational Costs, Growing Need to Integrate Healthcare IT Solutions and Improved Quality of Care and Clinical Outcomes
Challenges:
A threat to Data Security and Confidentiality
Restraints:
Fragmented End-User Market Restricts Development of Standard It Platforms and Rising Incidences of Data Breach and Loss of Confidentiality
Opportunities:
Consolidating The Healthcare System And The Role Of Software Architecture Oriented Programs, Growing Concerns For Data Security Offers Opportunities For Outsourcing Private Cloud Computing Models, Emerging Markets Offer A Huge Potential For IT Outsourcing, Shifting Focus Towards Patient-Centric Systems and Growing Medical Tourism In India, Singapore, China And Thailand Offers Opportunities For Healthcare IT Outsourcing
Market Leaders and their expansionary development strategies
In January 2022 International Business Machines (IBM) and Francisco signed a definitive agreement under which Francisco Partners will acquire healthcare data and analytics assets from International Business Machines (IBM) that are currently part of the Watson Health business.
In September 2023, BT has launched new AI and digital services in diagnostics to support the NHS in tackling wait times and speeding up diagnosis for patients. At the same time it is building on its ability to become a digital aggregator for an overstretched health service faced with a flood of new AI tools. The company is working in partnership with two specialist health technology companies – deepc, which designs operating systems for AI radiology solutions, and AXON Diagnostics,
Key Target Audience
Healthcare IT service Providers, Government Bodies, Regulatory Authorities, Research organizations and Third-party service providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.