Amid the COVID-19 crisis, the global market for Healthcare Business Process Outsourcing [is] estimated at US$248.2 Billion in the year 2020, and is projected to reach a revised size of US$449.8 Billion by 2027, growing at a CAGR of 8.9% over the analysis period 2020-2027. (ReportLinker)
The global market for healthcare IT outsourcing [is] estimated to reach $64 billion by 2027, expanding at a CAGR of 4.9% over the forecast period, driven by availability and early adoption of low-cost third-party technology services. (iHealthcareAnalyst)
Digital Transformation
In April 2020, overall telehealth utilization for office visits and outpatient care was 78 times higher than in February 2020. (McKinsey)
Cloud computing, analytics, data storage, smart medical devices, cybersecurity, electronic health record management, and interoperability are among the emerging technologies in healthcare operations. With the digitalization of healthcare, there is also a need for healthcare providers to outsource information technology services. Cloud computing solutions such as Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) are some of the models clients can outsource.
The global healthcare cloud infrastructure market size is expected to reach USD 142.0 billion by 2028, according to the report. The market is expected to expand at a CAGR of 16.7% from 2021 to 2028. (ResearchandMarkets)
Bridging the IT Talent gap
By 2030, we can expect a talent deficit of 85.2 million workers across the economies analyzed…This global skills shortage could result in $8.5 trillion in unrealized annual revenue by 2030— equivalent to the combined GDP of Germany and Japan. (Korn Ferry)
Global recruitment consultancy and IT outsourcing service provide Harvey Nash and auditing firm KPMG surveyed over 3,000 technology leaders for their annual CIO Survey, and found that an astonishing 65% said that hiring challenges are hurting the industry. (HNKMPGCIO Survey via Monster)
IT Outsourcing bridges the IT skills gap. Healthcare providers can tap into a huge talent pool of IT professionals with highly specialized skills and comprehensive experience. Healthcare organizations can outsource functions from cybersecurity roles, technical roles, to data-driven roles. Outsource from functions such as IT administration in electronic billing and payments systems, information security, and technical roles such as analysts to provide secure and efficient database administration and migration via cloud computing, and data-driven insights via data analytics and data science.
With emerging technologies making healthcare patient-centric, healthcare organizations can leverage and sustain operations through outsourcing services to a business process outsourcing provider that has the technological capabilities of providing fully customizable IT outsourcing solutions.
Outsource Healthcare services to Connext today.
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