by: Sarah Joson
Tuesday, January 6, 2015 |
A market brief done by Reportstack indicates that outsourcing vendors and developers have more opportunities in healthcare analytics and health IT outsourcing since organizations are looking to innovate and improve data analytics technologies, without spending much on internal infrastructure and software. The global health IT outsourcing market is predicted to post a compound annual growth rate (CAGR) of 8.6% between 2014 and 2019.
Top vendors in the healthcare outsourcing segment include Dell, Hewlett-Packard, Accenture, and IBM. They are also seen developing offerings such as analytics-as-a-service technologies. An example of which is IBM’s Watson supercomputer- a tool that provides cloud services for clinical decision support and data visualization.
Outsourcing has now become a powerful tool for healthcare providers to reinforce their analytics capabilities and address changes in the healthcare industry’s protocols.
Black Book Rankings recently revealed their projection that the revenue cycle outsourcing market will be valued at $9.9 billion in 2016 as organizations prepare for ICD-10. The study also found that 71% of hospitals have already partnered with external providers to improve their clinical documentation processes in preparation for the new code and the 2015 deadline.
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