Global Healthcare Information System Market Analysis

The Global Healthcare Information System Market Analysis size stood at around xx Bn in 2023 and is projected to reach US $xx Bn by 2033, exhibiting a CAGR of xx% during the forecast period.

The Global Healthcare Information System Market Analysis Executive Summary

Healthcare Information Systems (HIS) are complex systems meant to handle healthcare information, or more specifically, the capturing, storing, and telecommunications of patient data. These systems help in ensuring that clinical, administrative, and financial functions in the healthcare facility are well coordinated. According to the Pan American Health Organization (PAHO), HIS are central to the production of the strategic information necessary for decision at an individual, facility, system, national and global level that would improve public health.

In the global market, the implementation of the health care information systems is gaining momentum due to the enhancement of the health data management and the quality of care. According to the WHO, HIS and other digital health technologies contribute to the reduction of health disparities and improvement of care services amongst humans. A report suggested that more than 80% of the healthcare organizations across the globe are adopting various digital health technologies where EHRs and telehealth are also inning with the most attention. However, there are still a lot of hurdles for instance, those affecting the use of digital technology with limited resource health care provision where patients are not conversant with computers and the internet. The general move towards the implementation of HIS is ascribed to the increasing focus on the utilization of data in healthcare with a view of enhancing service provision as well as patients’ relations. 

Market Dynamics for Healthcare Information System Market in Global

Market Growth Drivers

The degree to which an HIS is adopted is positively determined by the following factors. The first is the level of perceived functionality and user-friendliness; as such systems can enormously improve clinical practices and patients’ outcomes. Research shows that the level of acceptance of HIS by the healthcare practitioners is high when they realize the advantages of the technologies such as better health of the patients and efficiency in the system. Also, leadership support and organization culture that encourages technology contributes to HIS adoption. For instance, the executive commitment has been pointed out as an important determinant since it guarantees that resources and training necessary for effective implantation and user acceptance are provided

Market Restraints

One of the top barriers that healthcare staff presents includes change resistance which is as a result of the complexity of the healthcare information systems and the disturbances caused by the change. Inadequate training and support can then intensify these fears which otherwise lead to low user acceptance. Besides, factors such as the high cost of implementing HIS, and poor security systems and data privacy contribute to the reluctance of organizations to invest in a HIS. The two issues depicted above call for a multi-faceted approach to change management where both technological or process aspects as well as individuals are considered in this context of technology adoption

Competitive Landscape for Healthcare Information System Market in Global

Key Players

• Cerner Corporation
• Epic Systems Corporation
• McKesson Corporation
• Allscripts Healthcare Solutions, Inc.
• GE Healthcare
• Siemens Healthineers
• Philips Healthcare
• Oracle Corporation (formerly Cerner)
• NextGen Healthcare, Inc.
• Meditech 

Recent Developments

March 2024, Augmedix, revealed new features and results for what it calls its flagship app, Augmedix Go. The enhanced platform is based on ambient AI approach to integrate into medical note writing and enhance clinicians’ productivity as well as patient outcomes.

Mergers and Acquisitions

June 2022, Oracle completed its $28.4 billion acquisition of Cerner, a leading provider of digital information systems for healthcare. This all-cash deal aimed to enhance Oracle's healthcare offerings by integrating Cerner's electronic health records and data analytics capabilities

November 2022, Allscripts completed the sale of its CarePort Health business to WellSky for $1.35 billion. CarePort provides care coordination and post-acute outcomes management solutions

Healthcare Policies and Regulatory Landscape for Healthcare Information System Market in Global

Policy changes and Reimbursement scenario

There is a progressive advancement in the healthcare policies and regulations on the implementation of HIS partly due to societies growing demands for efficient processing of information in managing health care delivery systems. Unlike in the past, most current and recent policies especially in the United States focuses on Meaningful Use and therefore encourages providers to exchange data on patient’s electronic health records (EHRs) in order to enhance patient’s care. These include laws like the 21st Century Cures Act whose goal is to remove barriers of information blocking making health data interoperable.

As for the reimbursement, there is more emphasis on value-based care system that focuses on patient outcomes rather than the number of services provided. Many reimbursement rates are being tied to the quality of services being offered, making HIM important for the management of quality data.