Healthcare IT Consulting Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Consulting Type, End-User and Geography

Market Snapshot

Picture1Healthcare IT Consulting Market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

15 %

Key Players:

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Market Overview

Increasing digitization in healthcare is the major driving factor for the healthcare IT consulting market globally. 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. However, data privacy and confidentiality is a major factor restraining the growth of the healthcare it consulting market.

Scope of the Report

As per the scope of the report, the term healthcare IT consulting refers to advisory support provided to clients in automation, platform extensions, integrated business process service to enhance business operations needs, application development, and management services, etc.

By Consulting Type
HCIT Change Management
Healthcare Business Process Management
HCIT Integration and Migration
Healthcare/Medical System Security Set-Up and Risk Assessment
Healthcare Enterprise Reporting and Data Analytics
Other Types
By End-user
Hospitals and Ambulatory Care Centers
Diagnostic and Imaging Centers
Public and Private Payers
Other End-users
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Hospitals and Ambulatory Care Centers Segment dominates the Market

The hospitals and ambulatory care centers are for digitalizing the business practices of IT infrastructure management, IT security services, resource planning, support services, mobile computing, and cloud-based solutions. With the implementation of scalable agile operations, healthcare providers have witnessed increased revenues. A greater and more seamless flow of information within a digital healthcare infrastructure can be achieved with the help of IT consulting in hospitals. Some of the outsourced IT consulting services, include the development and maintenance of clinical platforms, analytics dashboards, IT procurement, network optimization services, and cloud services. Many hospitals are also taking support for revenue cycle management, ERP support service, and population health. The transition from fee for service (FFS) to value-based care is increasing the pressure on care providers. Thus, hospitals and ambulatory care centers segment is expected to dominate the market over the forecast period.

Picture2 Healthcare IT Consulting Market

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The US Lead the Market in North America Region

Owing to the changes in regulations and changes in the payments of Medicare, the healthcare providers are increasingly dependent on the IT healthcare consulting companies. In the United States, CitiusTech, with its technical expertise, provides services to medical technology for enhancing the current enterprise applications (EMR) by end-to-end support. The healthcare IT consulting firms help to engage with the patients and caregivers by supporting care delivery and reducing costs. They have excellent analytics capabilities that enable care providers to increase clinical quality and care coordination. The big and small healthcare providers are outsourcing this to the third-party providers, as they themselves cannot handle all the complex changes happening in the healthcare ecosystem. With innovative approaches, such as analytics, data security, and systems, etc., the healthcare providers are benefiting in increasing revenues and improving the patients’ experience. This is likely to contribute to the growth of the healthcare IT consulting market in North America.

Picture3 Healthcare IT Consulting Market

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Competitive Landscape

The Healthcare IT Consulting market is highly competitive and experiencing healthy growth, due to greater adoption from smaller and mid-sized market players. Healthcare IT consulting market penetration is expected to increase in emerging markets, like APAC and Latin America, offering growth opportunities for new entrants.

Major Players

  1. Allscripts Healthcare Solutions
  2. Cerner Corporation
  3. IBM Corporation
  4. Cognizant
  5. Mckesson Corporation

* Complete list of players covered available in the table of contents below

Picture4 Healthcare IT Consulting Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Strict Government Regulations in the US

      2. 4.2.2 Rising Need to Improve the Quality of Care and Reduce Healthcare Costs

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Deployment

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Consulting Type

      1. 5.1.1 HCIT Change Management

      2. 5.1.2 Healthcare Business Process Management

      3. 5.1.3 HCIT Integration and Migration

      4. 5.1.4 Healthcare/Medical System Security Set-Up and Risk Assessment

      5. 5.1.5 Healthcare Enterprise Reporting and Data Analytics

      6. 5.1.6 Other Types

    2. 5.2 By End-user

      1. 5.2.1 Hospitals and Ambulatory Care Centers

      2. 5.2.2 Diagnostic and Imaging Centers

      3. 5.2.3 Public and Private Payers

      4. 5.2.4 Other End-users

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 UK

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Accenture

      2. 6.1.2 Allscripts Healthcare Solutions

      3. 6.1.3 Cerner Corporation

      4. 6.1.4 Cognizant

      5. 6.1.5 Deloitte

      6. 6.1.6 Epic Systems Corporation

      7. 6.1.7 Genpact Limited

      8. 6.1.8 IBM Corporation

      9. 6.1.9 Mckesson Corporation

      10. 6.1.10 Siemens Healthineers

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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