User-friendly healthcare IT demand increases across Europe
Demand for more user-friendly healthcare IT professional services has been increasing across Europe, according to a new Frost & Sullivan study.
Companies that have delivered the right blend of 360 degree consulting, easier and shorter training sessions and exceptional operational services along with round-the-clock support and maintenance services have been displaying market leadership in terms of revenues and number of installed bases.
The Frost & Sullivan report, "Healthcare IT Professional Service Markets in Europe," finds that the markets earned revenues of $2.19 billion in 2008 and estimates this to reach $3.64 billion in 2015.
In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: healthcare IT consulting services, training services, operational services and support and maintenance services.
"The revenue potential of professional services in the healthcare IT (HIT) markets is significant because they create a recurring revenue stream for vendors," said Frost & Sullivan Senior Research Analyst S Priyan. "IT services expenditure is one of the main concerns of end users in the context of HT spending. Support and maintenance services, in particular, account for more than 50 percent of total professional services markets in Europe."
Professional services markets in Europe are projected to grow at a compound annual growth rate (CAGR) of more than 7 percent by 2015. The support and maintenance services segment is poised to continue holding a major share of overall market revenues.
The development of a suite of highly customised and user-friendly services could further enhance the growth rate of the market.
The already sizeable demand for experts in healthcare IT professional services is increasing in Europe. However, the scarcity of professionals with expertise in both healthcare and IT sectors, coupled with the high pay cheques demanded by professionals, are imposing more constraints on market expansion.
"Mounting pressure to reduce costs in the healthcare sector will make it increasingly difficult for vendors to continue with current spending levels on the employment of professional services experts," Priyan said.
The supply of professional services experts should rise not only to meet the currently growing demand but also to control the costs associated with their paychecks.
Easily customised and adaptable training services with appreciable post-sale support and maintenance services will boost customer retention, system utilization and overall growth of the market.