Global healthcare IT outsourcing market to double by 2020 — 5 insights

The global healthcare IT outsourcing is set to grow by 2020, due to the reliance on technology to manage costs and increase innovation, based on a report by Everest Group.

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Here are five insights:

1. The global healthcare IT outsourcing market is expected to grow at a CAGR of 12 percent to $68.3 billion by 2020, up from $34.5 billion in 2014.

2. Payer-provider convergence and increased acquisitions and mergers will fuel this growth.

3. North American dominates the global market.

4. Data security issues and lack of proprietary platforms pose as obstacles to the market’s growth.

5. Regulatory mandates, like ICD-10, account for more than three-fifths of payer IT outsourcing transactions.

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