Avasant’s RadarView™ Recognizes the Top-Tier Providers Enabling Digital Transformation in the Healthcare Sector
Avasant has unveiled its Healthcare Digital Services RadarView™ 2019-2020, a pioneering market assessment report that recognizes the top 22 providers for digital transformation in Healthcare Industry. These 22 providers have shown mature capabilities and consistent growth in their Healthcare digital service offerings and have been assessed across three key dimensions – practice maturity, investments & innovation, and ecosystem development. The report categorizes the top service providers as follows:
- Leaders: Accenture, Cognizant, IBM, TCS, Wipro
- Innovators: Atos, HCL, Infosys, NTT Data
- Disruptors: CGI, DXC, Genpact, Infinite Computer Solutions, Mphasis, Sutherland, UST Global
- Challengers: Capgemini, EXL, Hexaware, Tech Mahindra, Unisys, WNS
- Global healthcare spending to grow at 5% from 2019 to 2022.
- US healthcare spending to grow at 5.5% from 2019 to 2022; largely driven by aging of baby boomers, rising spend on chronic disease management, and increase in prices of medical goods and services.
- Providers will have to shift to Value-Based Care as payors are actively pushing towards achieving their goals of over 60% value-based payments by the end of 2021.
- With payors and providers offering personalized services, price transparency, and low cost care options to the customers, the decision-making power is shifting towards customers
- While connected healthcare is rising due to the proliferation of wearables and increasing digital maturity, healthcare players should consider strengthening cybersecurity to prevent data breaches
- Increase in adoption of emerging technologies will facilitate the shift from “reactive and acute care” to “proactive and preventive care”, assisting payors to contain cost and the government to rationalize healthcare spend
- With ~35M + patients’ data being compromised in the US alone in 2019, providers and payors will have to boost cybersecurity investments to prevent future occurrences
- Accretive M&As can help enterprises to foray into adjacent spaces, gain substantial negotiation-leverage, and drive geographical expansion.
- With the emergence of competition from non-traditional players such as Amazon and Walmart, the traditional players need to acquire or partner with digital health companies
- Digital transformnation to accelerate as payors and providers increase their investments in emerging technologies like AI, blockchain, automation, analytics and IoT.
- As payors, providers, and clinical services providers acknowledge the benefits of “interoperability”, active efforts will be taken to alleviate underlying challenges in seamless data-sharing.