Data Related Errors Need to be Reduced as Incoming Volume of Patients Increases, Pushing Demand for Healthcare Information Systems

The core requirement of a health care information system today is to gain efficiency in the management of patient information that medical professionals can use to do an effective job and ideally without error. Healthcare information systems, or HIS, involve automated tasks in the administrative, financial, and patient care departments of any hospital, clinic, diagnostic lab, or healthcare institution. The use of a HIS can help generate extensive management reports, a powerful query module, and updated operational statistics. They can also offer other advantages, including ease of patient data access during emergencies, increased security and patient privacy, improved efficiency, and provides better cost control. Over the coming years, the global healthcare information systems market is likely to be driven by its inherent implementation benefits, especially reduction in overall healthcare cost, error mitigation, easy access of data to healthcare professionals, and less physical space required to compile and store paperwork.

The global healthcare information systems market is expected to reach US$448 bn by the end of 2024. Within a forecast period from 2016 to 2024, the market is expected to expand at a CAGR of 10.1%, after being evaluated at US$192 bn in 2015.

What are the Benefits of Healthcare Automation?

Among the several factors working in favor of the global healthcare information systems market, the growing support shown by multiple governments in the form of digitization initiatives for healthcare models has led to a large scale adoption of HISs. A large number of the systems being implemented are able to generate greater accuracy in terms of patient data entry and storage as compared to manual entries, thereby speeding up the path to data analysis and eventually treatment of the patient. An HIS can also maintain these patient records for future uses, enabling a much faster medical response for the patient in the future.

Over the years, the usage of healthcare information systems has allowed improved the quality of medical assistance provided to the patients along with improving disease surveillance. These systems have also enabled reduction of medication error. The market for healthcare information systems is also expected to be fueled by the growing need to cut down on healthcare costs that are associated with paperwork and maintenance of physical records.


What are the Likely Steps Top HIS Providers May Take?

The leading players in the global healthcare information systems market have their work cut out for them amid a highly fragmented market. Their key attempts are expanding market shares include portfolio diversification and mergers and acquisitions. Several companies in the global healthcare information systems market are expected to focus on increasing geographical presence through these steps. For instance, NextGen Healthcare Information Systems, a Quality Systems subsidiary, recently finalized the acquisition of EagleDream Health Inc. for roughly $26 million in cash, in order to expand on their current portfolio. EagleDream Health is a healthcare analytics firm that offers cloud-based optimization solutions to impart a better grasp for clients on clinical, financial and administrative processes.

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