The latest research study by IMARC Group, “Healthcare IT Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on global healthcare IT outsourcing market Share. The market size reached US$ 41.78 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 71.16 Billion by 2027, exhibiting a growth rate (CAGR) of 8.10% during 2022-2027.
Healthcare information technology (IT) outsourcing represents the method of hiring external service providers to regulate, manage, and mechanize operations in medical organizations. It involves various services, such as virtual assistants, healthcare coding and billing, medical transcriptions, insurance claim, and customer support.
Healthcare IT assists in increasing accuracy and productivity, minimizing errors and administrative costs, and enhancing security and consumer engagement. It also improves patient care, ensures compliance, saves time, provides access to trained professionals, and protects individual data. As a result, healthcare IT outsourcing finds widespread applications in biopharmaceutical industries, medical providers, and clinical research organizations (CROs) to manage issues and follow up claim procedures.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Healthcare IT Outsourcing Market Trends and Drivers:
The escalating demand for this solution in minimizing costs and improving processes without sacrificing patient satisfaction within health systems is among the primary factors driving the healthcare IT outsourcing market. Besides this, the elevating prevalence of chronic and lifestyle-based illnesses and the increasing need for the safety and confidentiality of patient information are further augmenting the market growth.
Moreover, the growing popularity of healthcare IT outsourcing to aid in revenue cycle management (RCM), owing to the high operating costs of medical facilities and billing companies, is also catalyzing the global market. Apart from this, the incorporation of artificial intelligence (AI) and machine learning (ML) to streamline supply delivery and disinfection, analyze data, suggest outcomes, provide timely risk scores, and enhance resource allocation is acting as another significant growth-inducing factor.
Additionally, the rising usage of this solution to provide accurate patient information and link records is also stimulating the market growth. Furthermore, the inflating patient-centric and value-based approaches, the extensive research and development (R&D) activities, and the increasing requirement for efficiently managing medical data are anticipated to propel the healthcare IT outsourcing market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Accenture plc
- Allscripts Healthcare Solutions Inc
- Dell Technologies Inc.
- Infosys Limited
- International Business Machines
- Koninklijke Philips N.V.
- Optum Inc. (UnitedHealth Group Incorporated)
- Siemens Healthineers AG
- Tata Consultancy Services
- Wipro Limited and Xerox Corporation.
The report has been segmented the market into following categories:
- Payers HCIT Outsourcing
- Hospital Information System (HIS)
- Laboratory Information System (LIS)
- Radiology Information System (RIS)
- Electronic Medical Records (EMR)
- Providers HCIT Outsourcing
- Revenue Cycle Management (RCM) System
- Healthcare Analytics
- Healthcare Provider System
- Biopharmaceutical Industry
- Clinical Research Organization
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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