Global Health IT Outsourcing Market To Reach $50.4 Billion By 2018

The U.S. and Canada lead in the global healthcare IT outsourcing market, with North America accounting for the largest share at 72 percent, according to a new report from RnRMarketResearch.com. The global market is expected to reach $50.4 billion by 2018 from $35 billion in 2013, with health insurance, healthcare systems and the pharmaceutical industry driving growth.

All three rely on outsourcing to reduce operational and maintenance costs, increase access to IT staff and quickly implement new technologies. Lack of in-house IT expertise, increasing need to integrate disparate systems, and growing pressure to meet Meaningful Use criteria and implement ICD-10 are among the factors at play, according to the report.  However, factors such as the fragmented nature of the business, growing concern for data security and cultural and language barriers restrain growth of the market.

IT hiring remains difficult in healthcare. In a recently published HIMSS Analytics survey, hospital respondents said they outsourced at least one IT function rather than hiring in-house. Ninety-three percent said they plan to outsource a function within the next year...