Global Healthcare IT Outsourcing Market Likely to Emerge over a Period of 2021 – 2027

Healthcare IT Outsourcing Market is projected to grow up to 7.7% CAGR during the forecasting period 2021-2027. In general, it is a method by which a company identifies the most cost-effective third-party service provider to run and operate its management and administrative unit. Outsourcing IT solutions to the healthcare industry has proven to be a cost-effective means of addressing rising healthcare costs while also meeting the increasing demand for high-quality care.

Healthcare facilities are being kept to higher standards, partially as a result of federal EHR mandates and pay-for-performance incentives, but also as a result of clinicians and patients being given new technologies that necessitates new types of services. Keeping up with the rate of device growth has become a major challenge for hospitals who want to stay competitive. The trend of outsourcing healthcare IT solutions has expanded significantly over the years, attracting both large and mid-sized businesses.

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Key Driving Factors: The rising pressure to curb healthcare costs:

IT management systems of healthcare providers, payers, and the life science segment: the the pressure to curb healthcare costs across the globe and the increasing need to manage cash flow in back-office administration and IT management systems of healthcare providers, payers, and the life science segment are driving the growth of the healthcare IT outsourcing market. Lack of in-house IT expertise, the demand for incorporating solutions, the pressure on healthcare providers to meet the US Federal Government's "Meaningful Requirements," new ICD-10 coding conversion guidelines, and the medical tourism in Asia are all expected to drive this sector.

This report offers the major market player’s profiles, such as 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)

Opportunities: Outsourcing will become more common in the hospital industry:

Due to the federal requirement to introduce Electronic Medical Records (EMR), rising healthcare prices, and the introduction of complex ICD-10 coding systems, the hospital industry is seeing an increase in the outsourcing of in-house services. The market is expected to expand due to an increase in patient traffic and the increasing pressure of medical procedures such as insurance eligibility and patient check-in records in the forecast period.

The Healthcare IT Outsourcing Market report has been categorized as below

By Application:
Global Provider Outsourcing Market
Electronic Health Records
Revenue Cycle Management System
Laboratory Information and Management System
Pharmacy Information and Management System
Others
Global Payer Outsourcing Market
Customer Relationship Management System
Claim Processing Management System
Billing System
Fraud and Detection System
Other
Global Life Science Outsourcing Market
Enterprise Resource Planning
Clinical Trial Management System
Clinical Database Management System
Research and Development IT services
Others
Global Operational Outsourcing Market
Supply Chain Management
Business Process Management
Others
Global Infrastructure Outsourcing Market
Infrastructure Management Services
Cloud Computing
Others

By Industry:
Healthcare System
Healthcare Insurance Industry
Pharmaceutical Industry
Clinical Research Organization
Biotechnology
Others

By Region
North America
Europe
Asia Pacific
Rest of World

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