A general ledger is a complete record of financial transactions of a company or an organization. The ledger holds account information that is needed to prepare financial statements, and includes accounts for assets, liabilities, owners’ equity, revenues, and expenses. In the healthcare setup, general ledger systems and software help in improving accountability for payments to physicians, hospitals, and other service providers. It generates a financial statement with all the account payable, receivable and other financial details.
In 2013, Europe accounted for 23.34% of the global general ledger systems market. The market was valued at $113.0 million in 2012 and is expected to grow at a CAGR of 4.3% from 2013 to 2018.
Despite a financial crunch in Europe, governments have been aspired to reconstruct HCIT system to cut overall healthcare cost thereby ensuring patients safety. For instance, National Health Service (NHS) reformulated its HCIT infrastructure by investing 30% of $8 billion to re-establish HCIT system in U.K. in the year 2010.
This market is segmented and forecasted on the basis of type into integrated general ledger systems and standalone general ledger systems. Integrated general ledger system accounts for the largest share in the European general ledger systems market and is expected to grow at a CAGR of 5.3% from 2013 to 2018. 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 the U.K., France, Germany, Spain, and Italy. The market is also segmented and analyzed on the basis of end users.
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 report on the European general ledger system 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, and 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.
Please fill in the form below to receive a free copy of the Summary of this Report
Please visit http://www.micromarketmonitor.com/custom-research-services.html to specify your custom Research Requirement
North American Healthcare Administrative System
The North American healthcare administrative system market has gained a significant share in the global market.The market was valued at $1,326.0 million in 2013 and is expected to grow at a CAGR of 6.0% from 2014 to 2019.The market is segmented on the basis of type, component, and deployment.
Asian Healthcare Administrative Systems
The Asian healthcare administrative systems market has gained a significant share in the global healthcare administrative systems market. The market was valued at $267.0 million in 2012 and is estimated to reach $377.0 million by 2018, at a CAGR of 6.0%. The market is segmented on the basis of type, component, and deployment. The report further segments the market into major geographies, end users, companies, and macro indicators. A deep-dive analysis of the top players of this market has been provided in this report.
Europe Healthcare Administrative System
The European healthcare administrative system market has gained a significant share in the global healthcare administrative system market. The market was valued at $502.0 million in 2012 and is estimated to reach $673.0 million by 2018, at a CAGR of 5.1% during the forecast period. The market is segmented on the basis of type, component, and deployment. The report further segments the market into major geographies, end users, companies, and macro indicators. A deep-dive analysis of the top players of this market has been provided in this report.