Wonder

Healthcare IT

Delivered September 24, 2019. Contributor: Alexandra Y.

Goals

The goal is to determine the market size of healthcare IT, the key players, demographics, and who the main decision makers are for healthcare IT decisions in companies.

Early Findings

The global healthcare IT market was valued at $141 billion in 2016 and is expected to reach $297 billion by 2022, growing at a CAGR of 13.2%.
The US healthcare IT market was valued at $61 billion in 2017 and is expected to reach $149 billion by 2025, growing at a CAGR of 11.7%.
Some of the key players in the US healthcare IT market include Allscripts Healthcare Solutions, Athenahealth, IBM, and McKesson.
IBM's revenue has declined 3.6% at $77.8 billion in 2019.
 Millennials are the most likely to want to use technology during their healthcare experience.
 65% of patients are interested in using IT to see their primary care providers over a video chat.

Proposed next steps:

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Since we have already identified the market sizes, we suggest the following next steps: 1) Identify the top 4-5 players in the US healthcare IT market by revenue. 2) For each of those players, we will provide any information on how many clients they have, demographics/target market, and a high-level overview of their IT offerings. 3) A report on who is usually the key decision makers in healthcare companies when it comes to adding IT software. We will look at hospitals, clinics, and other patient-centered healthcare companies in the US.