The payer IT system is an innovative approach introduced to revolutionize the accounting processes and maintenance of payment records. These systems were introduced as a result of the growing need to meet time-to-market requirements, maintain smooth communication between payers and providers, and minimize the administrative costs. The increasing number of healthcare facilities in the region and the consequent need for payer IT solutions drive the healthcare payer IT market in North America.
The North American payer IT market is the largest contributor to the global healthcare payer IT market, having accounted for a share of 58.92% in 2013. The North American market is projected to grow at a CAGR of 5.7% from 2013 to 2018. In 2013, the U.S. held an undisputable majority of the North American market with a share of 92.15%, which is forecast to grow at a CAGR of 5.8% during the given forecast period. The Canadian segment is expected to be the fastest-growing market in the region, projected to grow at a CAGR of 6.5% from 2013 to 2018.
North America is a technologically advanced region, with numerous innovations being introduced in the fields of healthcare, pharmaceuticals, and biotechnology. Moreover, the number of healthcare facilities such as hospitals and clinics is on the rise in this region. With an increasing number of patients, the demand for a cost–effective, efficient accounting, and recording system is increasing in the region, where payer IT solutions have been observed to meet these demands most effectively. In addition, a high return on investment in the healthcare IT sector has attracted heavy investments from governments as well as top companies in the region. The North American healthcare payer IT market is expected to grow significantly in the coming years, mainly owing to the aforementioned factors. Furthermore, healthcare expenditure is one of the most important macroeconomic variables that impact the growth of the healthcare payer IT systems market. Some of the major companies that invest and expand operations in the North American market include Oracle Corporation (U.S.), Cerner Corporation (U.S.), and Aspect Software (U.S.), among others.
The North American healthcare payer IT market report provides insights into the segmentation of the concerned market. The North American market has been segmented in terms of end-users, submarkets, components, deployments, and major countries in the region. Administrative systems and healthcare workflow systems are the main submarkets of the healthcare payer IT market in North America. On the basis of deployment models, the market has been segmented into cloud-based, web-based, and on-premise. The major components of payer IT systems include hardware, services, and software. Hospitals, nurses, office-based physicians, and emergency healthcare service providers, among others, are the main end-use consumers of healthcare payer IT systems. The U.S., Canada, and Mexico are the countries that have been considered for this market analysis report.
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