SNS Insider Report Highlights 7.44% CAGR Growth, Cloud Solutions, and AI Integration as Key Drivers in Healthcare IT Outsourcing

AUSTIN, TX, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- According to Research by SNS Insider, The Healthcare IT Outsourcing market revenue was USD 64.52 billion in 2023 and is estimated to reach USD 122.72 billion by 2032, at a CAGR of 7.44% during the forecast period 2024-2032.

Key Trends Impacting the Healthcare IT Outsourcing Market

IT outsourcing in the healthcare sector is gaining momentum due to the rising complexity of healthcare systems, regulatory compliance needs, and the increasing adoption of technology like Electronic Health Records (EHR), telemedicine, and Artificial Intelligence (AI). Rising outsourcing of IT functions and growing need to optimize operational costs and enhance patient care and focus on core competence by healthcare providers are driving the growth of Healthcare IT Outsourcing market. An Important Trend Gaining Traction in the Market, Movement Towards Cloud Based Solutions Cloud Computing allows organizations to securely store and manage unlimited amounts of patient data with the flexibility and scalability they require. Moreover, the implementation of AI and machine learning (ML) within healthcare IT solutions is changing the way providers analyze data, availability of prediction of patient outcome at point of care, and tailoring of treatment plans. This enables them to outsource these advanced IT capabilities to remain competitive without the need for heavy upfront investments.

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Market Segmentation

By Application
The Provider IT Outsourcing segment held the highest market share of 42.0% in 2023. This segment consists of outsourcing services including electronic health record (EHR) management, revenue cycle management (RCM), and clinical decision support systems (CDSSs). Healthcare providers are outsourcing these functions more frequently to operate more efficiently, to lessen administrative work, and to improve patient health. For example, by outsourcing RCM, providers can streamline their billing process, minimize claim rejections and maximize the cash flow. Also, the Payer IT Outsourcing segment is gaining traction with the introduction of an efficient claims processing, fraud detection, and member management, etc. Then, payers are using outsourced partners to automate and optimize processes through advanced analytics and machine learning– or AI-based solutions to maximize efficiency and also reduce cost while improving customer experience.

By End User
The Hospital Information Systems (HIS) segment, which accounted for the largest market share 47.0% in 2023, is a critical component of healthcare IT outsourcing. HIS outsourcing includes patient management systems (HIMS), LIS and PMS, all of which are crucial in streamlining hospital processes. Hospitals can capitalize on these systems by outsourcing them and providing a platform for work efficiencies, error reduction and improved patient outcomes. As an example, hospitals may be outsourcing pharmacy management systems since this automates drug dispensing, where it minimises error and helps ensure the right drugs are being given out. Moreover, these systems assist hospitals in adhering to compliance with strict regulatory standards, such as HIPAA and GDPR, thus allowing integration with other healthcare IT solutions for optimal data management and decision-making.

Regional Analysis
In 2023, North America held the largest healthcare IT outsourcing market share. The presence of an advanced healthcare infrastructure, high adoption of digital health technologies, and stringent regulatory requirements has driven the leadership of region. Rising IT service outsourcing to enhance operational and patient care efficiencies are expected to propel the market growth. U.S. accounts for a significant share in the market owing to the high level of payer and provider outsourcing in healthcare IT services. The adoption of IT outsourcing in the region is also being driven by initiatives such as the 21st Century Cures Act and the Medicare Access and CHIP Reauthorization Act (MACRA).

During the forecast period 2024-2032, the highest growth rate is expected to be seen for the Asia-Pacific region as the region experiences swift digital transformation, rising healthcare expenditure, and government efforts to modernize healthcare infrastructure. India, China and Japan are leading with this supply-side problem. One such initiative is India’s National Digital Health Mission (NDHM), which is focused on developing a digital health ecosystem, thereby creating vast opportunities for the IT outsourcing providers. The low-hanging population and rising chronic disease burden in the region is also propelling to new heights demand for cost-effective and scalable IT solutions.

Key Players in Healthcare IT Outsourcing Market
• Tata Consultancy Services Limited (TCS) - iON Healthcare Solutions
• Accenture PLC - myHealth Assistant, Synapse
• Wipro Limited - HealthPlan, Wipro Healthcare Cloud
• Cognizant Technology Solutions - Cognizant Healthcare Solutions
• Hewlett-Packard Company (HP) - HP Healthcare IT Solutions
• HCL Technologies - HCL Health and Life Sciences Solutions
• McKesson Corporation - McKesson Enterprise Information Solutions
• Allscripts Healthcare Solutions Inc. - Sunrise EHR, Allscripts CareInMotion
• Dell Technologies Inc. - Dell Healthcare Cloud Solutions
• Infosys Limited - Infosys Healthcare Solutions
• International Business Machines (IBM) - IBM Watson Health
• Koninklijke Philips N.V. - Philips HealthSuite
• Optum Inc. (UnitedHealth Group Incorporated) - Optum360, OptumRx
• Siemens Healthineers AG - Siemens Healthineers Digital Health Solutions

Recent Developments
• In 2023, Accenture partnered with a leading U.S. healthcare provider to implement a cloud-based EHR system, enabling seamless data sharing and improving patient care coordination.
• In 2023, Tata Consultancy Services (TCS) launched a new AI-powered platform for healthcare providers to optimize clinical workflows and enhance patient outcomes.

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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Healthcare IT Outsourcing Market by Application
8. Healthcare IT Outsourcing Market by End User
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion

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