Innovative IT, Biz Models Driving Indian Healthcare
New technologies and innovative IT models are changing the Indian healthcare industry - a sector that has long been held by slow moving innovations due to the complexity of the medical ecosystem. According to a recent Garner report, healthcare providers in India are expected to spend $1.1 billion on IT products and services this fiscal, which is an increase of 5 percent over 2013.
Anurag Gupta, research director at Gartner states that there will be increased focus on eHealth, mobile health, telemedicine, public private partnership and leveraging innovative delivery models in the coming months.
Gartner’s forecast also includes spending by healthcare providers (includes hospitals and hospital systems, as well as ambulatory service and physicians’ practices) on internal services, software, IT services, data center, devices and telecom services.
IT Services, which includes consulting, implementation, IT outsourcing and business process outsourcing, will be the largest overall spending category throughout the forecast period within the healthcare providers sector.
According to Gartner, this is expected to reach $300 million in 2014, up from $280 million in 2013 – with the consulting segment growing 10 percent.
Likewise, internal services will achieve the highest growth rate amongst the spending categories – forecast to be 18 percent in 2014. Internal services refer to salaries and benefits paid to the information services staff of an organization. The information services staff includes all company employees that plan, develop, implement and maintain information systems.
Software will achieve a growth rate of 8.4 percent in 2014 to reach $98 million in 2014, up from $90 million in 2013, led by growth in vertical specific software or applications that are unique to a vertical industry.
“India has a new government, and the Ministry of Health will closely examine ways to deliver cost effective healthcare across the country. Delivering wide access to healthcare in an affordable manner will be a top priority for the wider public healthcare system,” says Gupta.
He believes that the organized private healthcare sector will continue its expansion across Tier 2 and Tier 3 cities, as well as niche sectors like maternity and child health, with an emphasis on eHealth, mobile health and telemedicine.Healthcare, as a sector is moving from the basic innovations in analytics, cloud and mobile practices, towards the more advanced ones, such as motion sensors and wearable technologies. With newer business delivery models, vendors are starting to offer healthcare practitioners with cheaper, faster and more efficient patient care than ever before. Researchers also see that globally as well as in India, there will be a trend for healthcare companies to adopt the approach of widening their portfolio through acquisitions and other forms of partnerships, thereby creating a more vibrant healthcare ecosystem.
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