The healthcare industry has witnessed a huge transformation from principally paper-based and manually-operated procedures to digitally-enabled connected processes and operations in the past few years. Factors such as growing government interventions to encourage technology-driven affordable healthcare services and improving healthcare infrastructure across developing countries have led to a vast rise in the money spent on making core administration in the healthcare sector technologically-rich and more effective. Read More: http://www.transparencymarketresearch.com/technology-spending-administration-healthcare-market.html

1. Technology Spending on Core
Administration in Healthcare Market -
Global Industry, Size, Share, Growth,
Trends and Forecast 2016 - 2024
The field of core administration solutions for the healthcare industry is
highly fragmented owing to the presence of a large number of
established players offering hardware, software, and services, says
Transparency Market Research in a recent report. Considering the vast
growth opportunities in developing regions such as India, Brazil, and
China, players are focusing on diversification opportunities across these
countries through mergers, acquisitions, and consolidation practices.
To encash the vast growth opportunities in the core administration
segment in the healthcare industry, owing to various government norms
like Obamacare or Affordable Care Act (ACA), competitors are also
focusing on extensive product development to offer differentiated
services.
According to Transparency Market Research, the global technology
spending on core administration in healthcare market sector will exhibit
a 5.7% CAGR over the period between 2016 and 2024, rising from
US$25,900 mn in 2015 to US$42,317 mn by 2024.
Of the key end users of core administration solutions in the healthcare
industry, the payers segment accounted for over 88% of the overall
market in 2015 and is expected to remain the key driver of technology
spending on core administration in the healthcare industry throughout

2. the forecast period. Geographically, North America dominated,
accounted for over 50% of the overall funds spent on enabling
technologically advanced core administration solutions in the healthcare
industry in 2015. The trend is expected to remain strong over the
forecast period as well.
Browse Full Research Report on Technology Spending on Core
Administration in Healthcare Market:
http://www.transparencymarketresearch.com/technology-spending-
administration-healthcare-market.html
Rising convergence of a variety of digital platforms for managing and
processing the ever-expanding healthcare data, continuously changing
healthcare reimbursement reforms and regulations, and digitally
empowered consumers are collectively making the healthcare
administration space increasingly complex.
While at one point cost competition is at the peak in the healthcare
industry, payers (insurance agencies) are pressing healthcare providers to
switch from a volume-based (payment for service) to a value-based
reimbursement module (payment for value).
By requiring that healthcare providers deliver services at lowest costs to
patients, value-based reimbursement modules entail more financial risks
for providers and critically necessitate the effective management of core
administrative processes to cut costs. The situation demands a robust IT
infrastructure and an integrated platform wherein the payers can
streamline workflows for provider contracting and engagement.

3. In the next few years, the increased need for such platforms will emerge
as one of the key drivers of technology spending on core administration
in the healthcare sector.
However, the overall global spending on technology for core
administration in the healthcare sector is expected to be negatively
impacted due to factors such as the presence of outdated technology and
applications across several data collection and delivery nodes,
continuously changing healthcare reforms, and ever-changing ways of
financial transactions.
The inability of healthcare professionals in using complex or time-
consuming features in technologically advanced digital healthcare
applications is another key factor deterring the adoption of IT solutions
for managing core administrative processes in the healthcare sector. The
use of IT solutions by health professionals is growing at a steady pace
globally, but it is not uniform. A substantial gap exists between the
numbers of providers, which is relatively small presently, the number of
consumers who actively use the Internet for any purpose, which is on
rise at a rapid pace, and the much larger group of patients and healthcare
providers that has not used it or cannot use it.
Browse Full Press Release on Technology Spending on Core
Administration in Healthcare Market:
Press Release

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