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Expanded Implementation of Healthcare IT Solutions to Create Exciting Opportunities for European Healthcare IT Professional Services Vendors

Posted on: Monday, 10 April 2006, 03:03 CDT

LONDON, April 10 /PRNewswire/ -- The high growth rate of clinical information systems coupled with the need to integrate new healthcare IT modules with legacy units will fuel the European healthcare IT professional services market. End users ranging from clinics, small practices, and hospitals to integrated delivery networks are increasingly looking to professional services vendors to ensure smooth transition to new healthcare IT systems.

Across Europe, stakeholders and decision makers are realising the importance of healthcare IT solutions and the business benefits that they bring to healthcare organisations. Large-scale implementations of enterprise systems linking several hospitals will further boost the European healthcare IT professional services market.

"Due to the complex issues involved in such installations, only professional services vendors with experienced portfolios will be able to successfully handle such projects," notes Frost & Sullivan (http://www.healthcare.frost.com/) Industry Analyst Konstantinos Nikolopoulos. "This represents not only a significant business potential, but also a challenge for professional services vendors that will have to deal with large-scale installations and increased numbers of contracts."

The elimination of multiple service contracts will also drive market growth. Financially constrained healthcare authorities are turning to professional services providers that can offer turnkey management of varied aspects, including consultancy requirements, hardware and software assessment, new systems selection and implementation, maintenance as well as support requirements. This will ensure the availability of a one-stop solution for all requirements with accountability resting at one place.

Some governments, such as the United Kingdom and Germany have taken active steps to improve their healthcare IT infrastructure. However, several other European countries are yet to delineate implementation plans mainly due to restricted budgets for IT and, more particularly, limited funding allocations for professional services.

"A major hurdle to healthcare IT implementation has been quantifying the benefits, including return on investment (ROI) and productivity gains, derived from using such systems," explains Mr. Nikolopoulos. "Furthermore, high costs and prolonged installation times are causing delays in the uptake of IT solutions and related professional services."

To this end, the direct benefits of using varied professional services components will need to be clearly demonstrated and documented. Also, to obviate budgetary constraints, services should be flexible with provision for payments on a periodic or even a case-to-case basis. While this will offer a way for end users to adjust their financial outflow, it will also enable them to measure the ROI for each individual service or system.

"Vendors that spread the cost of implementation across the life of the system can reduce the initial financial burden on end users", says Mr. Nikolopoulos. "A 'pay-as-you-use' service for IT solutions will result in many smaller provider institutions taking up IT systems, thereby increasing the installed base of loyal customers and opening the door to bigger business opportunities in the near future".

The European Healthcare IT Professional Services Market, is part of the Healthcare IT Service Subscription, which also includes research into the following markets: Primary Care Systems Markets, European Markets for Healthcare Payer IT Solutions, European Hospital Administrative Systems Market, European Hospital Information Systems Markets and, European Electronic Medical Records Market. This research includes detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews are available to the press.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of The European Healthcare IT Professional Services Market (B683-48) then send an e-mail to Radhika Menon Theodore - Corporate Communications at rmtheodore@frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com/.

Contact: Radhika Menon Theodore Corporate Communications - Europe P: +91-44-42044541 F: +91-44-24314264 E: rmtheodore@frost.com Melina Trevino Corporate Communications - Americas P: +1-210-247-2440 F: +1-210-348-1003 E: melina.trevino@frost.com Surbhi Dedhia Corporate Communications - India P: +91-22-5001-3431 E: sdedhia@frost.com Jasminder Kaur Corporate Communications - Asia Pacific P: +65-68900937 E: jkaur@frost.com Sharmin Jassal Corporate Communications - Australia P: +61-2-8247-8900 F: +61-2-9252-8066 E: sjassal@frost.com http://www.frost.com/

Keywords in this release: clinical information systems, healthcare IT, Europe, healthcare IT professional services, clinics, hospitals, healthcare IT solutions, professional healthcare IT services vendors, multiple service contracts, healthcare IT infrastructure, Germany, United Kingdom

Frost & Sullivan

CONTACT: Media Contacts: Europe: Radhika Menon Theodore, CorporateCommunications, P: +91-044-42044541, E: rmtheodore@frost.com; Americas:Melina Trevino, Corporate Communications, P: +1-210-247-2440, F:+1-210-348-1003, E: melina.trevino@frost.com; India: Surbhi Dedhia,Corporate Communications P: +91-22-2832-4705 Ext: 131, E: sdedhia@frost.com;Asia Pacific: Jasminder Kaur Corporate Communications, P: +65-68900937, E:jkaur@frost.com; Australia: Sharmin Jassal, Corporate Communications, P:+61-2-8247-8900, F: +61-2-9252-8066, E: sjassal@frost.com

Source: PRNewswire

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