Healthcare IT Outsourcing Market to Reach $50.4 Billion by 2018 at a 7.6% CAGR – New Report by MarketsandMarkets The Economic Times Business News.htm

The Healthcare IT Outsourcing Market – By Application [Provider (EHR, RCM, LIMS) Payer (CRM, Claims Management, Fraud Detection, Billing) Life Science (ERP, CTMS, CDMS) Operational (SCM, BPM) & Infrastructure (IMS, Cloud Computing)] & Industry – Global Forecast To 2018, analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, APAC, and Rest of the World.

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This report studies the global healthcare information technology outsourcing market (2013 to 2018).

Over the years, outsourcing has surfaced as a successful business model that mitigates the burden of administration, procurement, accounting, logistics and other tasks, and develops cost-effective business processes. The healthcare industry, which faces the challenge of delivering the best patient care at an affordable cost, has been opting for outsourcing IT solutions.

The healthcare industry, on the whole, generates huge amounts of data. Healthcare providers/payers need to electronically track data related to medical records, billing codes, electronic monitoring systems, and patient care. In order to track and manage this valuable data via electronic systems, there is a need for strong information technology infrastructure and devices such as servers, desktops, networks, personal digital assistants (PDAs), and laptops.

Due to the lack of required skills and IT domain expertise, maintaining IT infrastructure and services is a challenging task for the healthcare industry. This has resulted in an unprecedented demand for IT infrastructure outsourcing and IT services, which enable healthcare providers to focus on their core service areas, thereby curtailing costs and enhancing quality care.

In this report, the HCIT outsourcing market is segmented on the basis of its application into provider outsourcing, payer outsourcing, life sciences outsourcing, operational services outsourcing, and infrastructure outsourcing. The market has also been segmented by industry such as the healthcare system (including hospitals, clinics, and diagnostic laboratories, among others), the healthcare insurance industry, pharmaceutical industry, clinical research organizations, and biotechnology companies.

North America (U.S. and Canada) commands the highest share of the global healthcare information technology outsourcing market. This can be attributed to the growing pressure to cut healthcare costs; rise in demand for applications management services, application development, and infrastructure outsourcing for providers, life sciences, and payers; growing population to be covered under the insurance policy as per HIPPA Act; lack of in-house IT experts; and the new ICD 10 guidelines.

Major players in the Healthcare IT Outsourcing Market are Accenture Plc (Ireland), Accretive Health, Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Anthelio Healthcare Solutions (U.S.), Cognizant Technology Solutions (U.S.), Dell, Inc. (U.S.), HCL Technologies (India), Hewlett-Packard Company (U.S.), International Business Machines (IBM) Corporation (U.S.), Infosys Limited (India), McKesson Corporation (U.S.), Siemens Healthcare (Germany), Tata Consultancy Services Ltd.(India), Wipro Ltd. (India), Xerox Corporation (U.S.), Epic System (U.S.), and Computer Sciences Corporation (U.S.).

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