Upinder Zutshi Of Infinite Computers to make Strong Inroads in Healthcare IT Domain, to widen new markets & Products in HIS system, Imaging and an EMR application on cloud.
Nominated for Pharmaleaders 2013 as India’s Most Admired Company in Healthcare IT Solutions 2013, Infinite Computer Solutions to grow at 10 % against the global average of 7.6% in The healthcare IT Outsourcing market. The world healthcare IT market is expected to grow from $99.6 billion in 2010 to $162.2 billion in 2015, at a CAGR of 10.2% from 2010 to 2015
Saturday, November 11, 2013, Mumbai, Maharashtra, India . The global healthcare industry is going for a change in its outlook post the booming market performance observed in the last year with more & more corporate either expanding their operations or entering into the business landscape. The global healthcare IT Outsourcing market is forecast to grow at a CAGR of 7.6%, to reach $50.4 billion by 2018 from $35 billion in 2013. The health insurance industry, healthcare systems industry, and pharmaceutical industry are driving the HCIT Outsourcing market. These industries follow the healthcare IT Outsourcing model to enhance their focus on core business, reduce operational and maintenance costs, increase access to IT skilled and trained staff (further reducing hiring and training costs), share risk, and quickly implement new technologies. The rise in chronic diseases , healthcare insurance, patient consumption & Healthcare Companies increasingly feeling the necessity of embracing new technologies to keep pace with the time has propelled the Healthcare IT Solution Provider companies to look at Healthcare as the biggest market after Mobile.
Speaking to Editor –In-Chief Satya Brahma of Pharmaleaders ( www.pharmaleaders.tv ) on being nominated for the Healthcare IT Solution Company at the historic 6th edition of Pharmaceutical Leadership Summit & Pharmaleaders Business Leadership Awards 2013 ( www.pharmaleaders2013.com) , Upinder Zutshi,CEO & MD, Infinite Computers said “ it indeed is a great honour to be in top five finalists in the big league of companies like Cognizant Technology, Wipro etc. Infinite Computer Solutions is in the forefront of Healthcare IT Outsourcing Market – By Application [Provider (EHR, RCM, LIMS) Payer (CRM, Claims Management, Fraud Detection, Billing) Life Science (ERP, CTMS, CDMS) Operational (SCM, BPM) & Infrastructure (IMS, Cloud Computing)] & Industry. Clearly, opportunity is being created both by changes in the health care industry itself and by changes in Infinite’s own beliefs about well-being, and the result is rising spending on health care products and services of all kinds. Entrepreneurs have responded, finding better solutions to old problems and launching new businesses to meet the needs of an aging but increasingly health-conscious population. Health-care spending typically accounts for more than 10% of GDP in developed nations, and in the US the figure is even higher. In 2009, over $8,000 was spent per person in the United States, totalling $2.5 trillion! And spending is increasing, with the US bill totalling 16.2% of GDP in 2008 and 17.3% in 2009.” Infinite Computer Solutions total revenue from Healthcare Domain account for 18 % & is expected to double in next year as Infinite sees the total Healthcare-IT market size at $ 534M. & currently growing every year at the rate of 5-to 6%. If the new hospital infrastructure picks up speed, then we can expect the market to grow @ 31% every year”.
The significant increase in demand for medical care has also increased the chances of error in diagnosis and claim settlement. This has lead to the introduction of systems such as CPOE (computerized physician order entry systems), integrated systems such as enterprise-wide PACS (picture archive and communication systems), EMR (electronic medical record). These not only helped reduce medical errors, but also helped improve the management of health related information. Said Upinder.
Understanding the healthcare industry structure can help in gaining an insight into the changing needs of its affiliated IT market. The healthcare industry consists of three major participants – the providers, the payors, and the consumers. As the overall industry is moving towards integration, an insight into each participant’s needs could help system providers design overarching systems that simultaneously cater to all the unmet requirements. Healthcare providers consist of large to small hospitals, clinics, nursing homes, research/educational institutions, and independent physicians. Payors consist of various government and non-government organizations offering insurance policies and claim processing services. Finally, consumers include patients maintaining their medical data.
Elaborating more on the Infinite’s areas, Upinder said Hospital and Outpatient Management, Healthcare Reform, Regulatory Compliance ,Care Coordination & Management, Clinical Analytics & Business Intelligence, ICD-10 Transition, Revenue Cycle Management, Self Service & Patient Engagement, Enterprise Applications, Applications that enable Claims Processing, Legacy Systems Modernization, Health Analytics & Business Intelligence, ICD-10 Transition,Healthcare Reform Compliance, Managed Care Product Configuration and Implementation, Quality and Claims Auditing and Reporting are going to be the key areas.
The historic sixth edition of Pharmaceutical Leadership Summit & Business Leadership Awards 2013 has as many as 30 categories & Infinite Computer Solutions is in close competition with the global players for the coveted & prestigious India’s Most Admired Company in Healthcare IT Solutions company category. The public voting will decide the fate of the Winner & the recognition will be given on Friday,27th December 2013 in the award ceremony in Hotel Hilton Mumbai International Airport in a power packed audience which will be attended by the business tycoons of the healthcare industry both India & abroad. CCI Newswire
