European Hospital Information Technology Budgets to Increase Over the Next Three Years

Tuesday, November 7, 2017 Hospital News
Email Print This Page Comment bookmark
Font : A-A+

Improving health data continuity and deriving value from data will be key areas of investment, finds Frost & Sullivan's Transformational Health team

LONDON, Nov. 7, 2017 /PRNewswire/ -- The United Kingdom, France, Germany,

and Spain collectively spend over $6 billion on healthcare IT (HCIT), and the regional HCIT adoption stands at almost 80 per cent. Healthcare data continuity, patient engagement and experience, healthcare cloud, population health management, Big Data and analytics, and healthcare cybersecurity are areas that offer untapped growth opportunities. However, the identification of growth opportunities is only the first step towards succeeding as a vendor in this market. Players must shift focus from HCIT solutions that can capture data to solutions that can enable data sharing, clinical decision support, and value propositions that target and understand specific customer needs.

Frost & Sullivan's research, Growth Opportunity Assessment of Healthcare IT Market in the United Kingdom, Germany, France, and Spain, analyses trends, drivers, growth opportunities, and challenges for healthcare IT investment. Insights on spending trends and priorities for specific customer segments, new technology adoption rates, and competitive landscapes are also provided.

Between December 2016 and March 2017, Frost & Sullivan conducted a survey of IT managers from 198 hospitals across Western European countries. Findings of the survey were further investigated through in-depth discussions with market vendors.

To access more information on this analysis, please click here.

"In spite of high electronic health record adoption levels, only 15 to 20 per cent of hospitals share data beyond their own organisation," said Connected Health Senior Research Analyst Shruthi Parakkal. "However, with changing care paradigms, such as a focus on patient centricity, innovation in care delivery models, and demand for workflow efficiency, improving health data continuity will be a key goal for both governments and providers over the next five years. As a result, interoperability, and standards development and adoption will be major priorities across health systems."

Approximately one-third of the hospitals interviewed allocate 11 to 20 per cent of their overall annual budget to various healthcare IT solutions, with 70 per cent confirming an average increase of 15 to 20 per cent growth in the budget during the past two to three years. As basic IT infrastructure is almost established in these countries, the increase in budget indicates a growth opportunity for solutions that augment basic infrastructure such as clinical decision support tools, applications for data sharing, integration, privacy and security, healthcare business intelligence, and big data analytics.

"By establishing basic healthcare IT infrastructure, the United Kingdom, Germany, Spain, and France are data creators and have to scale up to become data innovators in the next five years," noted Parakkal. "For this, healthcare providers have to develop a strategy that derives maximum value out of the current healthcare IT infrastructure by augmenting data utilisation and sharing between systems and providers."

Growth Opportunity Assessment of Healthcare IT Market in the United Kingdom, Germany, France, and Spain forms part of Frost & Sullivan's Connected Health Growth Partnership Service programme. The HCIT market comprises software solutions used by healthcare providers, namely hospitals, academic medical institutions, secondary care centres and primary care providers. It does not include hardware and devices. From an end-user standpoint, the market is segmented into primary care HCIT and hospital HCIT. The hospital HCIT segment can be further categorized into Clinical Information System (CIS) and Non-Clinical Information System (NCIS, which primarily includes administrative and financial management systems). Growth opportunity sizing and competitive landscape assessment presented in this research adheres to the standard definition of HCIT.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Growth Opportunity Assessment of Healthcare IT Market in the United Kingdom, Germany, France, and Spain MD36/MD71/MD75/MD76_48

Contact:

Kristina Menzefricke      Corporate Communications – Frost & Sullivan, EuropeP: +44 (0)208 996 8589E: [email protected]http://www.frost.com

 

View original content:http://www.prnewswire.com/news-releases/european-hospital-information-technology-budgets-to-increase-over-the-next-three-years-300550889.html

SOURCE Frost & Sullivan



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store