• Healthcare IT spending to hit $60M

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    SPENDING in healthcare information technology (IT) in the Philippines is expected to increase at a compounded annual growth rate of 4 percent in the next three years to reach $60 million by 2019, according to recent estimates by International Data Corp. (IDC) Health Insights.

    According to a recently published IDC research titled Philippines: Healthcare IT Spend Market Analysis, Forecasts and Trends, the largest spender in health IT is the healthcare providers market, including hospitals, with an 88-percent share in 2015.

    In the same year, spending on the hardware segment was highest at a 79-percent share, with services and software spending ranked in second and third place, clearly indicating the country’s current priority is focused on upgrading existing IT infrastructure, which is consistent with many other countries in the Asean region.

    “The primary macroeconomic indicators driving growth in the country include upheaval of infrastructure in healthcare and education services and a growing number of private hospitals in the Philippines. These indicators will bolster the IT spending growth in the Philippines healthcare market,” said Arpana Bharti, market analyst at IDC Health Insights.

    At present, spending on healthcare IT is still limited, with clear disparities between the private and the public sectors, the report said.

    The private sector, which aims for medical tourism impetus, is the leader when it comes to IT adoption.

    Meanwhile, IT spending in the public sector is still centered on developing hardware infrastructure as the government aims to make existing health services more accessible, added Jubert Daniel Alberto, head of operations in IDC Philippines.

    The primary focus for both public and private healthcare institutions is to bridge health disparities between the urban and rural populations in the Philippines.

    Private hospitals will move toward an “intensity of care” delivery model that will require new physical environments, processes reorganization, and an overhaul of existing ICT structures that will aid growth, IDC said.

    According to IDC, mobility solutions, tele-health and CRM (customer relationship management) solutions will be the key needs the market will look for from tech vendors.

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