(PRWEB) March 19, 2014
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.
Browse 147 market data tables and 11 figures spread through 365 pages and in-depth TOC on “Healthcare IT Outsourcing Market"
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The global market is forecast to grow at a CAGR of 7.6%, to reach $50.4 billion by 2018 from $35 billion in 2013. The health insurance industry, healthcare systems industry, and pharmaceutical industry are driving the HCIT outsourcing market.
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The rise in demand for better quality healthcare by public and private organizations is expected to result in the increased cost of healthcare across the world. The cost of healthcare is rising throughout the world due to various factors such as the absence of universal coverage of insurance, unwanted administrative costs, recession and slow recovery process in selected geographies, increased costs due to new technologies such as robotic surgeries, growing burden of chronic diseases, and aging population in selected geographies. The increase in costs causes the healthcare providers to reduce their expenses and focus on savings. However, the providers cannot reduce expenses on patient care such as medical supplies. Thus, cost reduction on IT installation by outsourcing the IT applications, provides them a solution to gain competitive advantage while minimizing their expenses.
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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. Furthermore, the market has also been segmented by industry. This segment includes the healthcare system (including hospitals, clinics, and diagnostic laboratories, among others.), the healthcare insurance industry, pharmaceutical industry, clinical research organizations, and biotechnology companies.
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 provider, 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, U.S. healthcare mandates, rise in aging population, and growing medical tourism in Asia are also likely to drive the HCIT outsourcing market.
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