Healthcare IT Quarterly Earnings Synopsis – Q3 2019
We are pleased to present our Third Quarter 2019 review of the Healthcare IT Services sector, which consists mainly of a mix of buyers providing management consulting, technology-enabled services and technology platforms for the healthcare provider sector.
Key trends in this sector include:
Continued Global Healthcare Spending: Global healthcare spending is projected to reach $10.059 trillion by 2022. Factors that have driven health care costs higher, include increased life expectancies, growth non-communicable diseases, NCDs (such as cancer and heart disease), and the fight against communicable diseases (including diseases caused by bacteria, viruses, and parasites). (1)
New Delivery Models Driving Affordability and Increased Access: The continued rise in healthcare spending has driven the need for new delivery models, which ultimately is resulting in both affordability and increased access to medical solutions. Teladoc, for example, is driving innovation, on-boarding large groups of people, in order to extend solutions and services further into the marketplace.
Healthcare Executives Reinventing Patient Experience: As healthcare executives manage the path to accountable care and re-invent the patient experience, the biggest areas of investment by healthcare provider organizations continues to be value-based care delivery initiatives, patient engagement and care management, and enterprise digital. At the same time, healthcare executives are searching for ways to demonstrate a return on investment for IT technology.