A healthcare administrative system helps the healthcare payer such as physician to automate day-to-day activities such as payroll and reduce the efforts and the labour involved in these processes. Use of IT in administrative functions enables efficiency and focus on core business processes. Administrative systems have the highest growth rate among other healthcare IT (HCIT) payer system markets, as its integrated billing system avoids cumbersome or inaccurate billing, which can lead to customer dissatisfaction, increasing customer attrition, and in turn loss of business.
Asia accounted for 12.53% of the global healthcare payer IT administrative systems market in 2013. The market was valued at $267.0 million in 2012 and is expected to grow at a CAGR of 6.0% from 2013 to 2018.
The IT infrastructure of healthcare payers is currently constrained by aged and inflexible systems, which is a limiting factor affecting their capabilities to capitalize on new markets, respond to competition and legislation, and improve operational efficiency. This has enticed healthcare payers to consider replacement of existing systems with new ones, which in turn is driving the market.
The Asian healthcare administrative systems market is growing at a faster rate. This is attributed to a number of favorable factors such as reduction in overall expenses with installation of healthcare IT systems, increasing focus of major market players in emerging economies, and growing aging population leading to rise in incidences of diseases, which stimulates the demand of workflow solutions in this region. For instance, the Indian government spends approximately 5% of its GDP on healthcare sector annually, and has approved 100% FDI for setting up hospitals in India since 2000. Healthcare organizations in the Asian region are actively moving towards advanced payer IT solutions like healthcare administrative systems to streamline the entire administrative system in large healthcare enterprises.
The Asian healthcare administrative systems market is segmented and forecasted on the basis of four different segments: general ledger, HC payer IT payroll, payer billing, and payer finance and accounts. On the basis of components the market is segmented into hardware, software and services, while deployments have been segmented on-premise, cloud-based, and web-based. The market is further segmented and forecasted on the basis of major countries, which include China, India, and Japan. The market is also segmented and analyzed on the basis of end users.
The report on this market provides an extensive competitive landscape of companies operating in this market. The key players covered in the report are Aspect Software, Avaya Inc., Cerner Corporation, Infor, Oracle Corporation. This report also includes the market share, value chain analysis, and market metrics such as drivers, restraints, and upcoming opportunities in the market.
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European Healthcare Payer IT
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