Corporate Updates

Opportunities galore for Indian IT giants

The raging political firestorm over how to reform the US’s $2.5-trillion healthcare sector might seem to be of limited relevance to India. But for the Indian IT services sector, the Obama-led revolution might just present an exciting growth opportunity.

Taking advantage of what we believe in will be a multi-billion dollar opportunity that requires immediate mobilisation and mastery of the intricacies of the US healthcare system.

The US healthcare reform creates three opportunities for Indian companies: providing IT services to support implementation of electronic healthcare records (EHRs), business process outsourcing (BPO) to reduce costs and give the capacity required for payers to serve the newly insured, and data analytics services to support fact-based decision-making throughout the healthcare system.

As a major down-payment on his healthcare effort, President Obama allocated $37 billion of stimulus funding to drive the adoption of EHRs. McKinsey estimates the resulting growth in EHRs will require an overall spend of $175 billion over the coming decade, of which nearly $50 billion will be devoted to IT services and training.

The implementation of EHRs will generate pressing time-bound demands for IT services. While adopting the EHR system, hospitals will need help in system set-up, installation, beta-testing, conversion of archival data into compatible formats and heavy initial training of clinical and administrative staff to use the new system.

Indian IT firms are well positioned to succeed in the EHR market because established EHR software vendors lack the manpower to install and implement the system on a national scale, and also provide service and support on an ongoing basis.

dIgitalhealth

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