IT Outsourcing refers to the process of hiring third party or external service providers for providing and delivering IT related services. The healthcare industry, overall, produces tremendous amount of information. Healthcare suppliers need to electronically track information and data related to therapeutic and medical records, electronic checking frameworks, billing and patient care. With a specific end goal to track and deal with this information through electronic systems, there is a requirement for solid technology infrastructure and gadgets, for example, desktops, servers, systems, networks and laptops. Because of the absence of required skills and IT area proficiency, keeping up and maintaining IT infrastructure and administrations is a testing errand for the healthcare industry. This has brought about an unprecedented demand for IT foundation outsourcing and IT administrations, which allow healthcare suppliers to concentrate on their center administration territories, thus curtailing costs and improving quality care.
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The primary end users of the outsourced IT market for Healthcare are the Healthcare providers like hospitals and clinics and the secondary users are the patients and doctors who serve in the hospital. Other users include vendors of healthcare analytics, insurance providers for healthcare, venture capitalists and research firms. The major areas of technology used in Global Healthcare IT Outsourcing Market are database management, analytics and Artificial Intelligence.
The growing population and advancement in technology aid the growth of Healthcare IT Outsourcing industry. The lack of well-trained IT professionals within medical department is a major reason behind the demand in this industry. Some of the drivers of the industry are demand for better and secure IT facilities, lack of IT Infrastructure in-house, Government focus on IT in Healthcare, improving efficiency and reducing total net operational cost.
The market for Global Healthcare IT Outsourcing Market can be segmented based on three aspects: providers, application and end users. Based on providers, the market can be segmented into three segments: Healthcare analytics, Revenue cycle management system and Supply chain Management. Based on application, the market can be segmented into four segments: Laboratory Information System, Hospital Information System, Electronic Medical Records and Radiology Information System. Based on the end users, the market can be segmented into five segments: healthcare, biotechnology, pharmaceuticals, research and others.
The major regions of Healthcare IT Outsourcing Market are Europe, North America, South America and Asia Pacific. Among these regions, America is expected to dominate the market in the forecasted period.
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The major opportunity for growth of the Healthcare IT Outsourcing Market lies in improvement of technology. Improvement in standardization of entering and storing data, implementing precision medicines and personalized medicines are some of the areas where growth opportunity lies.
The key players in the Global Healthcare IT Outsourcing Market are Accretive Health, Cognizant Technology Solutions, Accenture, Dell, Allscripts Healthcare Solutions, HCL Technologies, HP Company, IBM Corporation, Anthelio Healthcare Solutions, Infosys Limited, Epic System, TCS, McKesson Corporation, Xerox Corporation, Siemens Healthcare and Computer Sciences Corporation.
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