13/11/2016
Healthcare IT or Healthcare Information technology has emerged as a promising development to transform the paper-based healthcare system into digitized healthcare system, ensuring effective care and patient safety. Health information technology (HIT) is the field of IT involving the design, development, creation, use and maintenance of information systems for the healthcare industry.
Rising pressures to cut healthcare cost, growing demand to integrate healthcare systems, high rate of return on investment while using healthcare IT systems, financial support from governments, growing medical tourism, government initiatives such as e-health, health connect, pay-for-performance (P4P) program, rise in aging population, growing demand of CPOE adoption in order to reduce medication errors, and rise in incidences of chronic disorders such as cardiovascular disorder, cancer, neurological disorder etc. are the major drivers that are propelling this market. The recent onset of cloud computing is also giving a boost to the market as the cloud-based delivery mode is a perfect fit in the healthcare setting driven by need to share lot of confidential data across locations. Cloud based solutions helps in fast and secure transfer of data between organizations.
The principal components of the Healthcare IT market are software, hardware and services. Commonly used Healthcare IT solutions by Healthcare Providers include electronic medical records, computerized physician order entry, electronic prescribing, clinical decision support, picture archiving and communication systems and more. The non clinical information system includes application such as payroll, automatic patient billing, claim management, revenue cycle management, cost accounting others. The payer Healthcare IT solutions include pharmacy audit and analysis, claims management, customer relationship management, fraud detection, billing, payroll, general ledger and others.
MarketsandMarkets tracks the development of software/hardware/services and Integrated products with applications in clinical trial management, healthcare delivery, medical diagnostics, healthcare administration, healthcare payers, Pharmaceutical Industry and relentlessly explores emerging opportunities for the stakeholders including IT companies in healthcare space.