Healthcare ERP Consulting Services Industry Overview
The global healthcare ERP consulting services market size was valued at USD 3.9 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 9.2% from 2021 to 2028.
Factors, such as rising healthcare expenditure, overburdened systems, labor shortage, inefficient hospital service management, and the rapidly increasing number of patients at facilities, are creating a demand for advanced technological business solutions. The adoption of these systems will allow healthcare facilities to integrate & streamline their workflows, enhance functional & operational outcomes, reduce expenses, eliminate data silos, and deliver premium-quality patient care, which is expected to drive the demand and adoption rate of these solutions, thereby augmenting the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Healthcare ERP Consulting Services Market
The rising demand for advanced technological solutions among clinicians & healthcare professionals for delivering high-quality patient care, reducing operational costs, and eliminating data silos in back-end operations is driving the adoption of enterprise resource planning (ERP) solutions globally. A centralized patient database allows providers to seamlessly access the data from remote locations to enhance patient acquisition and management. In addition, the increasing dependency of organizations on consultancy services for gathering insights regarding the benefits offered by the platform, including positive Return-on-Investment (RoI), is anticipated to drive the market growth over the forecast period.
Businesses adopting and implementing ERP systems are integrating the data generated from manufacturing, inventories, supply chains, human resources, finances, and back-end operations, such as accounts management & payroll management. Life science companies have initiated the implementation of these software systems to improve their manufacturing, supply chain, and inventory management. The emergence of cloud-deployed systems coupled with developing IT infrastructure is driving the market growth for consultancy services. Numerous benefits associated with cloud-deployed solutions, such as minimum ownership cost, low capital requirement, limited in-house technical expertise, and flexible infrastructure, are driving businesses towards consulting services. These consultancy firms provide services, such as project management, prior implementation planning, and end-user training & education.
The ongoing COVID-19 pandemic exposed the overburdened global healthcare systems and their shortcomings. The pandemic burdened the labor force and disrupted manufacturing and supply chains. Increasing transition and adoption of remote accessibility and remote healthcare drove businesses to adopt advanced cloud technology services to streamline business workflows and improve financial, clinical, and operational outcomes. During the pandemic healthcare facilities witnessed the need to adopt ERP systems, which positively impacted the demand for consultancy services and strategic guidance for the same. In addition, life science companies began adopting ERP solutions for their businesses to integrate workflows and eliminate data silos.
Businesses are actively seeking consulting services and partners for the successful implementation of ERP systems for rapid RoIs. The organizations seek technical guidance, training, and aid in the management of changes in workflow. Consulting firms are selected based on the size and scope of the organization. Some of the large firms providing consulting services include KPMG, Accenture, Deloitte, PwC, and Huron. Smaller consultancy firms across the globe are Avaap, Bails, Impact Advisors, and ROI Healthcare Solutions, which are usually preferred by mid- and small-scale healthcare organizations.
Moreover, as healthcare organizations are shifting toward cloud technology, demand for cloud implementation, training, and change management consultants is gaining traction. Organizations are shifting toward intelligent ERP systems to automate functions and bridge business gaps.
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Healthcare ERP Consulting Services Market Segmentation
Grand View Research, Inc. has segmented the global healthcare ERP consulting services market on the basis of functionality, end-use, and region:
Healthcare ERP Consulting Services Functionality Outlook (Revenue, USD Million, 2016 - 2028)
- Training & Education
Healthcare ERP Consulting Services End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Life Science Companies
- Healthcare Providers
Healthcare ERP Consulting Services Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- July 2021: Oracle launched new updates for Oracle ERP Cloud and Oracle Fusion Cloud Enterprise Performance Management (EPM). A few of the updates introduced are machine learning-enhanced intelligent performance management, enhanced financial reporting skills, improved risk management workflows & dashboards, and unified project planning & execution tools.
Key Companies profiled:
Some of the prominent players in the healthcare ERP consulting services market are:
- Cerner Corp.
- Premier, Inc.
- Workday, Inc.
- Atos SE
- Avaap USA LLC
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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