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Hospitals Investing in Health Data Continuity, Big Data, Cloud, and Data Security to Improve Patient Experience
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Hospital health information technology (hospital IT) includes solutions that have a common end goal – to improve the quality of in-patient care while reducing cost. For the purpose of this report, the hospital IT market consists of software, solutions, and maintenance services but does not include hardware. The market is segmented into clinical information systems and administrative and financial information systems. Examples of healthcare IT solutions in scope: hospital information systems (HIS) including revenue management, financial management, human resource management, customer relationship management, knowledge management, and supply chain management systems; clinical applications including laboratory information systems (LIS), radiology information systems (RIS), picture archiving and communication systems (PACS); electronic medical records (EMR) and electronic health records (EHR), computerized physician order entry (CPOE), clinical decision support, and patient portals.The hospital IT market in Asia-Pacific (APAC) is the fastest growing amongst all regions globally, expanding at a compound annual growth rate (CAGR) of 9.7% between 2016 and 2021. However, several healthcare industry transformations in the region are creating demand for solution and business model innovation that will truly help care delivery in APAC become more patient-centric and customer-focused. While quality of care is of utmost importance, improving patient satisfaction, creating world-class patient-experience, and enhancing organizational productivity are emerging goals that hospital IT decision makers are aiming for.To granularly understand the challenges, demands, unmet needs, and vendor preferences of hospital IT decision makers in APAC, Frost & Sullivan conducted an online survey that gathered 73 responses from both public and private institutions. Results of the survey were then discussed with local and multinational vendors across the region to understand how they were aligning their growth strategy in response to the observed market dynamics. The combination of demand-side and supply-side research revealed that IT investment in the next five years will be focused on improving health data continuity, utilizing Big Data & Analytics, cloud deployments, and data security systems. Key questions this study will answer:• What are the current trends, challenges, and drivers for hospital IT investment in APAC? What will be the most promising Growth Opportunities and key investment areas over the next five years? • Are the currently available solutions and vendors adequately meeting market needs? What are the gaps, if any? Are there any early market movers in this direction? • What will be the impact and adoption of new technologies? How will these change current industry paradigms and / or bring in new business models? • How are expectations from vendors changing and what are some emerging vendor selection criteria? • How can APAC hospitals move towards a higher level of patient-centricity? What role do vendors play in this industry shift?
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