Healthcare Healthcare IT Outsourcing Market is projected to grow up to 7.7% CAGR during the forecasti...

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 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)

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

o   Electronic Health Records

o   Revenue Cycle Management System

o   Laboratory Information and Management System

o   Pharmacy Information and Management System

o   Others

●       Global Payer Outsourcing Market

o   Customer Relationship Management System

o   Claim Processing Management System

o   Billing System

o   Fraud and Detection System

o   Other

●       Global Life Science Outsourcing Market

o   Enterprise Resource Planning

o   Clinical Trial Management System

o   Clinical Database Management System

o   Research and Development IT services

o   Others

●       Global Operational Outsourcing Market

o   Supply Chain Management

o   Business Process Management

o   Others

●       Global Infrastructure Outsourcing Market

o   Infrastructure Management Services

o   Cloud Computing

o   Others

By Industry:

o   Healthcare System

o   Healthcare Insurance Industry

o   Pharmaceutical Industry

o   Clinical Research Organization

o   Biotechnology

o   Others

By Region

●      North America

●      Europe

●      Asia Pacific

●      Rest of World

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Published Date : May-2021