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Extensive Public Sector Implementation of Health Information Exchange in the Asia-Pacific Attracts Local and International IT Vendors


News provided by

Frost & Sullivan

08 Sep, 2016, 03:55 GMT

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Governments are actively partnering with private providers to develop best-in-class HIE, fin ds Frost & Sullivan's Transformational Health Team

KUALA LUMPUR, Malaysia, Sept. 8, 2016 /PRNewswire/ -- The next generation of healthcare delivery in Asia-Pacific (APAC) is expected to be an example for innovative government-initiated health information exchange (HIE). Although rudimentary at present, HIE in the region will see exponential growth due to the strong interest from governments that seek to partner with private providers to create comprehensive and relevant platforms. Through HIE solutions, governments in APAC plan to address challenges related to test redundancy and workflow inefficiency, which have hitherto hampered the growth of the region's healthcare delivery system. By optimizing electronic medical data stored in disparate repositories, HIE can reduce costs and improve care efficiency. As such, local and international vendors offering robust HIE platforms leveraging big data technologies for population health management (PHM) will be poised for success.

New analysis from Frost & Sullivan, Analysis of the APAC Health Information Exchange Market, finds that the HIE market in APAC will grow at compound annual growth rate (CAGR) of 10.8% from 2015 to 2020 to reach US$173.0 million. This growth is bolstered by the swift adoption of electronic medical data (EMR) across disparate systems and the pressing need to reduce redundancy by sharing existing data.

To request exclusive information about this research and to schedule your one-on-one strategy dialogue with our analysts now, please click here or send an email to Carrie Low, carrie.low@frost.com.

"Medical and health data is captured through various modes such as remote patient monitoring, telehealth, bedside monitoring devices as well as through testing at the primary care clinics, hospital and laboratories," explained Transformational Health Industry Analyst Shalani Andria Pandian. "This means that critical data such as allergy and medication history for any patient will be available in at least one of the hospitals they have visited. By allowing the captured data to be shared, the quality and efficiency of healthcare delivery can be dramatically improved."

However, uncertainty about HIE product benefits among clinicians and patients and lack of clarity on internal and external control of data sharing are proving to be a challenge. High implementation costs and the fact that return on investment (ROI) is not monetary are also proving to be dampeners in the short term. Nevertheless, innovative business models and regulatory oversights on data sharing activities are taking form and healthcare providers will see the benefits of sharing patient data under a regulated environment.

"The pertinent question on patient data privacy and security has to be answered and the role of each stakeholders in HIE has to be clearly defined to speed up clinicians' adoption," iterated Pandian. "As governments in APAC are the primary promoters funding and driving HIE, vendors should start investing on public-private partnership and provide a flexible, scalable, secure and regulated data exchange solution. Essentially, analytics that help improve individual- and population-level care using HIE data will be a hot area of investment over the next 5 years."

Analysis of the APAC Health Information Exchange Market, a part of the Connected Health Growth Partnership Service program, focuses on the opportunity size of HIE (public and private) in APAC with an in-depth analysis of key challenges faced by leading industry participants. The research highlights innovative business models that are replacing siloes and data islands, and facilitating data sharing between healthcare entities in the region. It presents compelling forecasts of how HIE will impact providers, payers, consumers and government as well as growth opportunities.

Other Frost & Sullivan studies under this subscription include Asia-Pacific Telehealth Outlook 2016—2020 and Asia-Pacific Healthcare Outlook 2016, among others. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Analysis of the APAC Health Information Exchange Market
P8DB-48

Contact:
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com

Melissa Tan
Corporate Communications – Asia Pacific 
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com

http://ww2.frost.com

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