Value-based Care and Digital Patient Engagement Drive Growth Opportunities for Western Europe Hospital IT
Hospitals aim for patient data interoperability and cross-border data exchange, finds Frost & Sullivan's Transformational Health team
LONDON, Jan. 18, 2017 /PRNewswire/ -- Hospitals are replacing legacy healthcare IT (HIT) systems with sophisticated solutions in order to create longitudinal patient records that expedite high-quality service to a growing aged population and patients suffering from chronic health conditions. By 2020, the majority of medium- and large-scale hospitals in Western Europe will implement data interoperability frameworks that enable local, state, national and cross-border health information exchanges (HIEs). An effective integration between public and private HIEs will facilitate nationwide exchange of health information and fuel acceptance of services such as mHealth, telehealth and remote patient monitoring among patients.
"By 2020, most of the legacy HIT systems will be replaced with new Web/cloud-based interoperable solutions throughout the care continuum," said Frost & Sullivan Transformational Health Industry Analyst Dinesh Kumar. "The demand for cloud computing and virtualisation in healthcare will be high by 2020, driven by the evolving regulatory landscape, the need to reduce hospital IT systems' downtime, and necessity for efficient sharing of health information across entities in a synchronised format."
Western Europe Hospital Information Technology Outlook, 2016-2020 is part of Frost & Sullivan's Transformational Health Growth Partnership Service program. The research examines healthcare provider-centric, healthcare payer, and hospital-based administrative and financial IT service segments to detail the expanding role of eHealth technologies and healthcare digitisation solutions in healthcare across the United Kingdom, Germany, France, Italy, Spain, Scandinavia and Benelux. An analysis of business models, competitive landscape, and key companies to watch is also included.
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The Western Europe HIT market, despite its growth potential, is challenged by the absence of interoperability standards, the presence of legacy medical equipment in huge numbers, and concerns surrounding patient health information privacy. Enhancing customer awareness about the benefits of HIT implementation, as well as financially empowering them through funding and timely reimbursement, will ensure steady growth of the market.
"The United Kingdom, Germany, France, Spain, the Netherlands, Denmark, and Sweden are robust revenue-generating markets for HIT software and services due to high market adoption, a large customer base, significant investments, and mature regulatory landscapes that favour the market," observed Kumar.
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Western Europe Hospital Information Technology Outlook, 2016-2020
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