by: Sarah Joson
Monday, September 7, 2015 |
According to forecasts, the healthcare IT outsourcing market is poised to grow for the period of 2013-2018, as stated in the report “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”.
Information technology has a lot of contributions in the progress of the healthcare and life sciences industries - particularly in the healthcare process. It reduced costs while efficiently managing huge amounts of patient information. Information technology in healthcare remains as one of the most expensive tools to integrate, maintain, and develop. However, it is still one of the solutions to lack of talent skilled resources and outdated IT infrastructure.
Since outsourcing has been proven to help mitigate challenges in management, sourcing, finance and accounting, logistics, among others, it has helped businesses become more cost-effective and efficient. In the healthcare industry, outsourcing has risen up to the plate as a preferred IT solution to help healthcare companies provide the best affordable patient care.
One of the processes in the healthcare industry that has been mostly outsourced is related to data. This is because healthcare providers/payers need to collect and track crucial information that will be used to process and analyze medical records, billing codes, and even electronic monitoring systems so healthcare providers can provide better patient care.
North America (US and Canada) leads the global healthcare information technology outsourcing market. Some of the reasons healthcare IT outsourcing is rapidly picking up pace in the region are: the consistent pressure to reduce healthcare costs, rise in demand for applications management services, application development, and progression of life sciences. For payers, the population is constantly growing and has to be covered by an insurance policy as per HIPPA Act, lack of IT experts, and the new ICD-10 guidelines.
The top IT outsourcing providers are Accenture Plc (Ireland), Accretive Health, Inc. (US), and Allscripts Healthcare Solutions, Inc.