What Does It Take To Move to the Next Level of Healthcare Digitalization in APAC?
Frost & Sullivan Healthcare CIO Survey: The Future of Healthcare IT in APAC
KUALA LUMPUR, Malaysia, Aug. 10, 2016 /PRNewswire/ -- Frost & Sullivan is launching the Healthcare CIO Survey: The Future of Healthcare IT study in Asia-Pacific. Through this study Frost & Sullivan aims to collate opinions from key healthcare information technology (healthcare IT) decision makers and generate an analysis of the direction of healthcare IT investments in APAC.
The role of IT in the APAC healthcare industry has evolved over the past few years. Previously, IT merely enabled automation; now it affects integration across the entire healthcare delivery value chain in the region. These developments are in line with the need for better collaboration among healthcare providers, payers and governments to enhance customer experience. The market is forecasted to be worth US$12.60 billion by 2020, growing at a compound annual growth rate (CAGR) of 13.3% between 2013 and 2020.
Digitization of healthcare delivery is being prioritized by governments in the region as they expect technology to help reduce healthcare costs and improve the quality of care. At the same time medical tourism in the region is encouraging healthcare providers in the region to adopt IT and invest in sophisticated technologies and establish world-class facilities.
However, the lackluster performance of previous IT deployments has made both healthcare providers and consumers in the region wary of further investment. One key industry challenge is that thus far, healthcare providers as well as IT vendors have not been able to holistically quantify the clinical benefits and qualitative improvements in patient outcomes achieved by using sophisticated IT systems. Beyond documented results, IT implementations in APAC fail due to various other reasons, such as lack of system interoperability, absence of concomitant organizational change initiatives and inadequate training of the medical workforce.
"In spite of the high growth opportunity, actual penetration of IT systems amongst hospitals is as low as less than 10% in some emerging markets," stated Natasha Gulati, Connected Health Industry Manager at Frost & Sullivan. "Low penetration of IT across hospitals in the region is not only slowing the pace of adoption of sophisticated technologies like cloud, analytics and Big Data but also impeding care delivery transformation through development of concepts like Population Health and Anytime Healthcare," she continued.
Leading multinational vendors compete with local players on cost and localization. Investment myopia in terms of scale, timelines and dollar value is creating silo health IT systems which is neither beneficial for providers, nor generates sustainable top-line growth for vendors.
Frost & Sullivan believes that while providers in the region have an appetite for investment, there is a general lack of understanding of the most urgent and strategic IT needs for the healthcare industry today and the resources and provisions required for tomorrow. A critical analysis of the challenges that providers face while making IT investment decisions will help vendors tailor their value proposition to target customers better and also generate insights on the future direction of healthcare IT in the region that will be relevant for all industry stakeholders, including governments, healthcare payers, providers and industry suppliers.
To generate this analysis Frost & Sullivan is launching a multi-client study that will survey at least 100 healthcare IT decision makers across APAC. The objectives of this study are:
- Analyze and predict the direction of healthcare IT investments across hospitals in APAC.
- Identify key decision makers and influencers and highlight their current challenges, motivations and unmet needs.
- Recommend how vendors can win large-scale strategic IT projects in APAC and improve market penetration and level of sophistication.
- Analyze how healthcare IT will evolve in APAC over the next five years in terms of technologies, market participants, stakeholder roles and care delivery and payment models.
The study findings will allow healthcare IT vendors to establish a sound understanding of current and future market needs and lay the foundation for further analysis of how they can build their APAC businesses. Beyond IT investment trends it will generate insights on the impact of IT in changing care delivery paradigms, key industry performance indicators, emergence of new technologies and the future needs of healthcare providers in APAC.
We invite clients to sponsor the study so that they can provide first-hand inputs to the scope and methodology; incorporate customized questions in the survey, and generate further value from the study results by customizing and contextualizing the research findings for their organization.
If you would like to sponsor, review & guide or participate in the study please reach out to Carrie Low (carrie.low@frost.com) or Melissa Tan (melissa.tan@frost.com) with your full name, company name, title, company telephone number, company e-mail address, city, state and country. Upon receipt, we will then forward this information to our research team who will contact you at the above information.
Healthcare CIO Survey: The Future of Healthcare IT in APAC will be a part of the Connected Health (http://www.connectedhealth.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Telecommunications Service Providers in Healthcare, Malaysia Healthcare Outlook, and Healthcare Cloud in APAC. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Media 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
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