Navigation Links
IT Budgets of Healthcare Organizations in Asia Pacific Region Expected to Grow, Regardless of the Economic Slowdown, says Frost & Sullivan
Date:5/31/2009

SINGAPORE, June 1 /PRNewswire/ -- While the economic slump has driven several companies to resort to strategic budget and cost-cutting initiatives, healthcare organizations are increasing their spending on healthcare information technology (IT) solutions and services to enhance healthcare delivery quality while addressing the issue of mounting healthcare costs.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)

New analysis from Frost & Sullivan, Healthcare Information Technology: CIO Insights, analyzes the trends in the IT budgets of hospitals and the drivers, barriers and challenges to IT investment in healthcare organizations. The study covers Southeast Asia (Singapore, Indonesia, Malaysia, Thailand and Philippines), Australia & New Zealand, India and China. The market earned revenues of over $5 billion in 2008 and this is estimated to reach $ 10 billion in 2012.

"Healthcare providers no longer consider IT solutions and services an unnecessary cost burden, but a critical value provider," says Frost & Sullivan consultant Dr. Pawel Suwinski. "In public and private hospitals, IT budgets are expected to increase from the year 2009 to 2011."

Spiraling healthcare costs, demand for better quality of healthcare, and rising labour shortage are some of the challenges faced by healthcare delivery organizations. Chief Information Officers (CIOs) and IT managers of hospitals realize that investments in healthcare IT solutions will lower medical errors and costs in the longterm. These factors are driving increased IT spending by healthcare providers.

On the other hand, public and private hospital CIOs' and IT managers' strategic IT investment plans are likely to be hampered by budget constraints and integration issues in the near future.

"Lack of industry standards in countries such as India and China is a major hindrance to the adoption of healthcare IT solutions," explains Dr. Suwinski. "It is important to have the appropriate standards for ease of information flow in the healthcare environment."

The future trend concerning healthcare IT adoption varies from country to country. For instance, in India, the focus is on replacing legacy systems. In Australia and Southeast Asia, hospitals have the basic administrative solutions in place and are now concentrating on adoption of clinical information systems and electronic medical records.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

    Contact:
    Emmie Kaur
    Corporate Communications -Healthcare, Asia Pacific
    DID: +603 6204 5913
    Email: emmie.kaur@frost.com

    Jasminder Kaur
    Corporate Communications -Healthcare, Asia Pacific
    DID: +65 6890 0937
    Email: jkaur@frost.com


'/>"/>
SOURCE Frost & Sullivan
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. MedTrust Online Completes Second Round of Financing, Releases Next Generation Search Engine for Oncology Utilizing Dell eHealthcare Architecture Framework
2. Skyscape's Mobile Healthcare Professional Community Crosses the 1 Million Mark
3. Beckman Coulter to Present at the 2009 Goldman Sachs Healthcare Conference
4. AUDIO from Medialink, Bayer Healthcare and Onyx Pharmaceuticals: Facts About Hepatitis
5. Citi Private Equity Executive Joins Water Street Healthcare Partners
6. Cenegenics Poses Challenge to Obama for Successful Healthcare Reform
7. The Year of Affordable Healthcare Brings Together San Francisco Community Groups to Tackle Healthcare Crisis
8. Carefx's Newest White Paper Illuminates Healthcare CIOs' Growing Role in Operations, Strategic Thinking and IT Project Decision Making
9. Darwin Appoints Becky Cox Vice President, Business Development, Healthcare
10. NCPO: Medication and Counseling Vital for Healthcare Reform, Implementation and Future Patient Care Improvements
11. Oregon Department of Human Services Selects APS Healthcare to Manage Expanded Statewide Medicaid Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... A ... revolutionize the emergency ambulance transport experience for the millions of people who require ... has disrupted the taxi industry through the use of technology. Now, SmartEMS has ...
(Date:6/26/2016)... Cary, North Carolina (PRWEB) , ... June 26, 2016 , ... ... the release of a new product that was developed to enhance the health of ... harvested for centuries. , The two main herbs in the PawPaws Cat Kidney ...
(Date:6/25/2016)... ... ... of Bruton Memorial Library on June 21 due to a possible lice infestation, as reported ... head lice: the parasite’s ability to live away from a human host, and to infest ... in the event that lice have simply gotten out of control. , As lice are ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, ... Bronze Wellness at Work award to iHire in recognition of their exemplary accomplishments in ... the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott in ...
(Date:6/24/2016)... PASADENA, CA (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. ... he would lash out at his family verbally and physically. , “When something upset him, ... table, he would use it. He would throw rocks at my other children and say ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... June 24, 2016 Dehaier Medical Systems Ltd. ... which develops, markets and sells medical devices and wearable ... signed a strategic cooperation agreement with Hongyuan Supply Chain ... Chain") on June 20, 2016, to develop Dehaier,s new ... cooperation agreement, Dehaier will leverage Hongyuan Supply Chain,s sales ...
(Date:6/24/2016)... , Belgium , June ... MKT: VNRX), today announced the appointment of Dr. ... of Directors as a Non-Executive Director, effective June ... Company,s Audit, Compensation and Nominations and Governance Committees.  ... Dr. Futcher will provide independent expertise and strategic ...
(Date:6/23/2016)... -- Research and Markets has announced the ... (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality (Filler, ... Global Forecast to 2021" report to their offering. ... pharmaceutical excipients market is projected to reach USD 8.1 ... the forecast period 2016 to 2021. ...
Breaking Medicine Technology: