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Market Research Report

Global Healthcare IT Consulting Market - Segmented by Consulting Type, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Published by Mordor Intelligence LLP Product code 708580
Published Content info 120 Pages
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Global Healthcare IT Consulting Market - Segmented by Consulting Type, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)
Published: September 1, 2018 Content info: 120 Pages

The global Healthcare IT Consulting Market is expected to register a CAGR of 19% during the forecast period, 2018 to 2023. The changing government regulations in payments such as healthcare providers not getting paid for the treatment or care provided but for the healthcare outcomes has made the dependency of hospitals on healthcare IT consulting providers. This trend is expected to continue in the forecast period and have a positive effect on Healthcare IT Consulting Market.

Increasing Digitization in Healthcare

Healthcare has seen a dramatic change in the past few years with respect to serving the growing patient population. In the United States after implementation of the Affordable Care Act more than million Americans were insured. Apart from adding new revenue to health care providers, this has increased the pressure to cater efficiently to traditional business models. More healthcare providers are keen to invest in digital transformations of their business practices. This has given rise to the new division of IT health consulting. Third-party IT consulting support services include electronic health record, healthcare finance, pharmacy, billing, patient care, and prescription etc. The strong IT support with agile methods is a competitive advantage for healthcare providers in achieving better quality, controlling costs, increase profitability, and simplifying inventory management. There is a rise in opportunity for IT healthcare consulting.

The other factors such as increasing government support for healthcare IT solutions, changing the technology landscape, and Changing government policies and regulations are driving the Healthcare IT Consulting Market.

Data Privacy and Confidentiality

The adoption of electronic medical records (EMRs) is a major transformation in healthcare. Specialty IT consulting support has a key role to play in the maintenance and security of the patient data. Yet healthcare records are among the most prone to theft as the worth of medical information is more than the credit card data. The growing cyber-attacks in healthcare are due to not complying with HIPPA privacy rule and improper data encryption to safeguard the data.

The Ponemon Institute that conducts independent research on privacy, data protection, and information security policy states that the healthcare data breaches cost USD 6.2 billion per year. Almost 90% of healthcare organizations are prone to data theft.

With growing concern over the risk of unauthorized use or access to healthcare databases, the healthcare consulting companies are under pressure as they have to create enough confidence to prospective healthcare providers. Therefore data privacy and confidentiality is a major factor restraining the growth of the Healthcare IT Consulting Market.

The US Lead the Market in the North America Region

The US Healthcare IT Consulting Market holds the largest market share in 2017 in North America region as there is a need to operate their businesses effectively and improve the patient experience. Due to changes in regulations and change in payments of Medicare, health care providers are increasingly dependent on IT healthcare consulting companies. With innovative approaches such as analytics, data security, and systems etc. healthcare providers are benefiting in increasing revenues and improving the patient experience. This is likely to contribute towards the growth of the Healthcare IT Consulting Market.

Key Developments in the Market:

  • Jun 2018: Genpact announced new customer experience enhancements to Genpact Cora, its modular, artificial intelligence (AI)-based platform that helps enterprises accelerate digital transformation at scale.

Reasons to Purchase this Report:

  • Current and future Healthcare IT Consulting Market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter's five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares and strategies employed by the major market players.
  • 3-month analyst support along with the Market Estimate sheet (in Excel).

Customization of the Report:

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

Table of Contents
Product Code: 64046

Table of Contents

1. Introduction

  • 1.1. Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

  • 5.1. Current Market Scenario
  • 5.2. Porter's Five Forces Analysis
    • 5.2.1. Bargaining Power of Suppliers
    • 5.2.2. Bargaining Power of Consumers
    • 5.2.3. Threat of New Entrants
    • 5.2.4. Threat of Substitute Product and Services
    • 5.2.5. Competitive Rivalry within the Industry

6. Market Dynamics

  • 6.1. Drivers
    • 6.1.1. Increasing Digitization in Healthcare
    • 6.1.2. Increasing Government Support for Healthcare IT Solutions
    • 6.1.3. Increasing Stringency of Regulations
  • 6.2. Restraints
    • 6.2.1. Data Privacy and Confidentiality
  • 6.3. Opportunities
  • 6.4. Challenges

7. Market Segmentation

  • 7.1. By Consulting Type
    • 7.1.1. HCIT Change Management
    • 7.1.2. Healthcare Business Process Management
    • 7.1.3. HCIT Integration and Migration
    • 7.1.4. Healthcare/Medical System Security Set-Up and Risk Assessment
    • 7.1.5. Healthcare Enterprise Reporting and Data Analytics
    • 7.1.6. Others
  • 7.2. By End User
    • 7.2.1. Hospitals and Ambulatory Care Centers
    • 7.2.2. Diagnostic and Imaging Centers
    • 7.2.3. Public and Private Payers
    • 7.2.4. Others
  • 7.3. By Geography
    • 7.3.1. North America
      • United states
      • Canada
      • Mexico
    • 7.3.2. Europe
      • France
      • United Kingdom
      • Germany
      • Spain
      • Italy
      • Rest of Europe
    • 7.3.3. Asia-Pacific
      • India
      • China
      • Japan
      • Australia
      • South Korea
      • Rest of Asia-Pacific
    • 7.3.4. Middle East Africa
      • GCC
      • South Africa
      • Rest of Middle East & Africa
    • 7.3.5. South America
      • Brazil
      • Argentina
      • Rest of South America

8. Company Profiles & Competitive Landscape

  • 8.1. Accenture
  • 8.2. Cerner Corporation
  • 8.3. Cognizant
  • 8.4. Mckesson Corporation
  • 8.5. IBM Corporation,
  • 8.6. Deloitte
  • 8.7. Cerner Corporation
  • 8.8. Siemens Healthineers
  • 8.9. Allscripts Healthcare Solutions
  • 8.10. Genpact Limited

List Not Exhaustive

9. Future of the Market

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