According to the Market Statsville Group (MSG), the Global Health Information System/Practice Information System (HIS/PIS) Market size is expected to project a considerable CAGR of 9.3% from 2024 to 2033.
The significance of health information systems or practice information systems (HIS/PIS) has increased as healthcare markets are becoming increasingly globalized. HIS entails comprehensive packages for capturing and processing clinical information, operational, financial, and even patient’ clinical records in healthcare facilities. One example of particular interest is the PIS, which belongs to the HIS and focuses on information management within individual facilities for healthcare, helps with the billing of patients and organizes appointments, as well as managing digital health records among other things.
Major driving forces include government initiatives that rally all towards the adoption of healthcare IT solutions, the need for data interchange and interoperability, and the growing need for the delivery of efficient healthcare facilities. Furthermore, benefits from HIS/PIS offerings are seen to be increasing in data processing and management, decision support, and patient involvement through technology improvements such as cloud computing, artificial intelligence, and big data analytics. Consequently, there is so much potential these changes present to the HIM/ PIS suppliers of innovative solutions that can enable healthcare institutions to meet the changing needs and improve patient care.
Healthcare landscapes leverage digital systems, known as Health Information Systems/ Practice Information Systems (HIS/PIS). HIS is used by healthcare organizations to manage a wide range of health data which includes administrative data (comprising patient demographics and a list of diagnostics procedures) as well as patient health data. PIS is part of HIS, which particularly focuses on information management in healthcare practices. The system can assist with invoicing, the arrangement of appointment slots for patients, and other IT-related specific work such as e-health records, etc that will help provide high-quality patient care and allow the practice to operate more efficiently.
Describing the progressive achievement of e-health aims and objectives through the adoption of digital technologies and solutions in the sphere of medicine, the overall process is referred to as the digital transformation of healthcare. Electronic Health Record (EHR) or Health Information Systems (HIS)/ Practice Information Systems (PIS) are widely needed with the advancement of healthcare systems. Companies in the healthcare industry can adopt digital documents replacing the use of paper through digitization of operations, and this ensures that the healthcare providers are in a position to share the data on their operations with other healthcare providers. They consolidate patient datasets, streamline clerical work, and provide analytics and prescriptive insight elements, making HIS and PIS solutions crucial to this shift.
Besides, it promotes patients’ engagement through m-Health application, Telemedicine, and Patient portals that make it possible for a patient to receive care from the comfort of his or her home or workplace. Based on the report of Statista, it was revealed that by the year 2022 expenditure used by the healthcare industry towards digital transformation was over $1. 3 trillion in the world and it is becoming more and more pressing at a rate of 10. 4% per year. On the other hand, according to the Deloitte survey, a majority of doctors and healthcare facilities claim to have improved productivity by a significant margin with just digitization. Therefore, as Healthcare Systems are being shaped more by the integration of digital technology and information systems there is increasing demand for HIS and PIS in as much as the institution seeks to harness technology to deliver better patient outcomes/improve operational efficiency, and ensure compliance with emerging laws and regulations.
Implementing HIS and PIS in healthcare organizations has been a challenge due to the high implementation costs that are incurred, therefore they are critical to the working of an organization. Some of the initial costs are: Training the staff, purchasing the necessary computer hardware, obtaining the necessary software, and the modification and/or integration of these new systems with the existing ones. They are normally massive one-time purchases; the necessary technology and support services are essential to purchase by the healthcare organization.
Furthermore, the process of implementation itself may also involve several challenges and it may consume considerable time and effort, hence, it should be carried out carefully and with proper planning in terms of resource requirements and logistics. This not only implies an increase in the overall cost in terms of the healthcare providers but also time, in case healthcare providers are required to employ consultants or IT specialists to manage the implementation process. This is because it may also involve recurring costs which may be incurred in the maintenance and support of the system throughout its life cycle. Due to financial constraints, which remain rampant within many healthcare organizations’ budgets, healthcare organizations may face challenges in allocating proper amounts of funding towards his/pis implementation. While HIS/PIS is advantageous in the long run, as patient care is enhanced and general productivity, as well as information management, improves, challengingly, some healthcare offices and facilities may be discouraged by the high initial cost of implementing it.
The study categorizes the Health Information System/Practice Information System (HIS/PIS) Market market based on component, deployment type, and end-user area at the regional and global levels.
Based on the end-users, the market is divided into diagnostic centers, hospitals, ambulatory care centers, and others. The hospital segment accounted for the largest market share in the global Health Information System/Practice Information System (HIS/PIS) Market market. Some of the specific areas of multi-disciplinary importance include comprehensive solutions for patient records, treatment history, billing, and corporate and legal compliance in hospitals. This is the main reason why they are regarded as domineering all over the world. Due to the large size of hospitals in contrast with diagnostic and ambulatory care centers, to enhance the patient care delivery process and ensure that all these weaves integrate seamlessly into the hospital, these large care facilities need to have a well-developed HIS/PIS infrastructure.
In recent years, there has been a constantly increasing number of hospitals around the world which boosts the market growth. The following graph shows the total number of hospitals in select countries of the world in the year 2022.
Also, and more importantly, it should be noted that because many hospitals usually have larger budgets available for applying new technologies in comparison to clinics, the latest achievements in healthcare IT can be incorporated into the work of hospitals, specifically in terms of HIS/PIS systems. Hospitals are also the most advanced purchasers of this particular segment due to vital requirements for integrated systems that perform countless clinical and administrative tasks.
Based on the regions, the global market of Health Information System/Practice Information System (HIS/PIS) Market has been segmented across North America, Europe, the Middle East & Africa, South America, and Asia-Pacific. In 2022, North America had the largest market share around the world. There are several significant factors for leadership specifically stating North America as the following area has a strong healthcare center and various healthcare facilities are implementing technology and going digital. AHs/PISs also have been urged to address the implementation of HIS/PISs with strict laws and incentives including Meaningful Use and the Health Information Technology for Economic and Clinical Health (HITECH) Act.
In addition, North America is a dominant region for the healthcare IT market, as many global leaders of this industry have their primary offices here: Allscripts Healthcare Solutions, Cerner Corporation, and Epic Systems Corporation. These companies have established benchmarks for the companies in the region and have a good number of customers. These prophetic personalities in the industry in addition to the numerous universities and centers of technology in North America help to foster the adoption and growth of HIS/PIS solutions and cement North America’s position as the global leader of the HIS/PIS market.
Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare, Siemens Healthineers, and Philips Healthcare are major players in the health information systems (HIS)/practice information systems (PIS) global market that is fiercely competing with each other. In adapting to an increasingly digital world, where healthcare organizations and providers have changing requirements, they strive to get hold of customers by creating innovative products as well as cooperating with others through forming strategic alliances or mergers and acquisitions.
Major players in the global Health Information System/Practice Information System (HIS/PIS) Market are:
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