Demand for User-Friendly Healthcare IT Professional Services Increasing Across Europe

Companies that have delivered the right combination of 360o consulting, easier and shorter training sessions, and exceptional operational services along with round-the-clock support and maintenance services have been displaying market leadership in terms of revenues and number of installed bases, according to a market report.

New analysis from Frost & Sullivan (Palo Alto, CA, USA), an international consultancy company, revealed that the markets earned revenues of US$2.19 billion in 2008 and estimates this to better $3.6 billion in 2015. "The revenue potential of professional services in the healthcare IT [HIT] markets is significant because they create a recurring revenue stream for vendors,” noted Frost & Sullivan senior research analyst S. Priyan. "IT services expenditure is one of the main concerns of end users in the context of HT spending. Support and maintenance services, in particular, account for more than 50% of the total professional services markets in Europe.”

Professional services markets in Europe are projected to grow at a compound annual growth rate (CAGR) of more than 7% by 2015. The support and maintenance services segment is poised to continue holding a major share of overall market revenues. The development of a suite of highly customized and user-friendly services could further enhance the growth rate of the market.

The already large demand for experts in healthcare IT professional services is increasing in Europe, according to Frost analysts. However, the scarcity of professionals with expertise in both healthcare and IT sectors, combined with the high pay checks demanded by professionals, are imposing more constraints on market expansion. "Mounting pressure to reduce costs in the healthcare sector will make it increasingly difficult for vendors to continue with current spending levels on the employment of professional services experts,” explained Mr. Priyan.

The supply of professional services experts should rise not only to meet the currently growing demand but also to control the costs associated with their salaries. Easily customized and adaptable training services with appreciable post-sale support and maintenance services will increase customer retention, system utilization, and overall growth of the market.

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