Hospital Information Systems Market to Reflect Impressive Growth Rate by 2024


Hospital information system is comprehensive information system designed to manage all the aspects of a hospital's operation, such as administrative, medical, legal and financial concerns and the corresponding processing of services. With increasing volume and types of patient data, it is becoming complex process to make the data available to partners, payers and regulatory authorities. If the data or information are not presented in properly, it can result in poor delivery of care as well as regulatory action. Hospital information systems provide a complete information about a patient’s health history and allows health care professionals to provide a proper care to the patient by check health and medication history

Some of the key driving factors for the Hospital Information Systems Market are government initiatives, initiatives from the private and public sector around the world and rapid technological enhancements, rising healthcare cost and changing world demographic have forced the government to enhance the healthcare. The factors hampering the growth of the market are interoperability issues, the high cost of the installation and availability of skilled workers.

The hospital information systems market has been segmented by product type, by deployment, by component, by application and by geography. In terms of product type, the hospital information system has been categorized into electronic medical record (EMR), electronic health record (EHR), laboratory information system, cardiology information system, radiology information system, material management system, clinical data repository and HR and payroll and others. Based on deployment, the market has been segmented into web based, cloud based and on premise. Based on component, the market has been segmented into hardware, software and services. The application for the market include clinical guidelines, clinical reminders, drug allergy alerts, drug dosing support and others.

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In U.S., the government initiatives has accelerated the adoption of hospital information system. The Health Information Technology for Economic and Clinical Health (HITECH) Act, a part of the $787 billion American Recovery and Reinvestment Act (ARRA) of 2009, has brought in healthcare reform initiatives. The HITECH Act, signed into law by President Obama in February 2009, allocated up to $27 billion in stimulus funds to accelerate health IT adoption. The adoption of complete certified EHR along with the achievement of objectives under the Meaningful Use (MU) directives has enhanced the adoption of hospital information system.

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