Hospital
Information Systems (HIS) Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
Hospital Information
Systems (HIS) Market research report offers detail overview of industry with
all the requisite data to support tactical business decisions and come up with
strategic growth plans. This study also proposes a comprehensive insight into
the development policies and plans in addition to manufacturing processes and
cost structures.
KEY BENEFITS
1. Hospital Information Systems (HIS) market
analysis based on current industry scenario and expected future trends to
enable stakeholders take strategic decisions.
2. Analysis of the factors impacting the Hospital
Information Systems (HIS) market to understand business opportunities.
3. Identification of key investment pockets
for various applications, type and geographies.
4. Identification of the Hospital Information
Systems (HIS) market top key players and their strategic moves.
5. Evaluation of Hospital Information Systems
(HIS) market trends to provide deep-dive intelligence into every market
segment.
6. Competitive analysis to effectively plan
and execute a business plan.
7. Hospital Information Systems (HIS) market
micro-level analysis based on application, type and geography.
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The global hospital
information systems (HIS) market is expected to be valued at USD 39.7 billion
by 2025. Hospital information system market demand is expected to be high over
the forecast period on account of increasing patient traffic. The need to
integrate data of a single patient from all the departments in a hospital is
anticipated to propel the overall industry growth. Hospital information system (HIS) is designed
to fulfill the administrational needs of medical centers. It involves the
integration of multiple divisions in order to manage the administration on a
real time basis. Various sections of a medical center which include
laboratories, finance departments, and general administration are integrated
through enterprise architecture. It also helps the physicians in tracking a
patients’ past record and progress in the treatment. The increase in patient
flow is the major factor driving the overall market. Increasing disease
incidence has created the need to establish a sophisticated data base for
patient tracking. A patient undergoes multiple therapies, treatments, and
diagnosis. A Physician needs to collate all the information for further diagnosis.
This need drives the demand for information system with integration of multiple
wings within an organization. Such systems also help physicians to track
patients past history.
Accounting is another
factor which propels the demand for hospital information system. Bills from
various departments are consolidated into one and therefore leading to customer
satisfaction. Medical institutions have been able to process the overall cash
flows at a centralized level with precision and without any delays. Such centralized
cash flow management reduces the possibilities of fraud and financial data
fabrication. HIS has helped to fasten the administrative process with high
accuracy which includes placing orders, bookings and payment. Moreover, these
applications have significantly contributed to increase overall accuracy,
response time and efficiency which in turn is expected to drive its demand over
the forecast period. Electronic record keeping has boosted the demand for HIS
implementations. They provide a common source for patient’s health history.
Doctors can easily access patient’s information, laboratory results and
previous prescriptions.
Rise in medical informatics
is expected to propel the growth of overall industry. Data collected through
these application suites is used to study the recent trends and patient
behavior. This source of data provides meaningful insights for capacity
planning. Hospitals tend to use this information for their expansion programs
and demand forecasting. The HIS architecture is segmented on the basis of
specialized implementations which includes clinical information system,
laboratory information system, procedure management, radiology information, and
picture archiving & communication.
North America is expected
to observe highest demand in the global industry on account of the
well-developed healthcare sector and implementation of advanced IT
infrastructure. Similarly, Western Europe is expected to show a substantial
demand over the forecast period on account of increasing emphasis by the
regional government on healthcare facilities coupled with the stringent
regulatory framework. Asia Pacific and the Middle East are expected to observe
significant growth on account of the increasing government initiatives to
establish proper healthcare infrastructure in developing economies including
China, India, Japan and UAE.
Key players operating in
the market are SAP, Philips, Infosys, Wipro, TCS, Meditech, Mckesson
Corporation, Epic systems, Allscripts, and Cerner Corporations. Vendors focus
on providing complete IT enabled services which consist of HIS. This helps the
vendors to reduce costs and also aid in the maintenance process. After sales
service plays a vital role in establishing strong relations with the customer.
Break down of these applications result in loss of information and disturbance
in services. In February 2015, Cerner Corporations successfully acquired
Hospital IT solutions business unit of Siemens for USD 1.3 billion. The
acquisition is expected to help Cerner develop efficient business solutions
especially in the field of electronic record keeping.
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