In the ever competitive global environment each and every industries are in an extreme pressure to cut down costs to be more competitive. Healthcare and pharmaceutical companies and health maintenance organizations (HMOs) are no exception. Add to that meeting tighter compliance and security mandates by the US Food and Drug Administration (FDA). The pharma and healthcare industries in US are going through a transition. The effort is now to change gear from present traditional fatfull traditional model to sleek drug development with new age companies which develop safer and more efficacious drugs.
Healthcare market which only outsource less than 10% of their IT budget now suddenly becomes a favorite hunting ground for outsourcing business development managers. K Muralikrishna, managing director of Helios & Matheson asserts,
The global healthcare IT outsourcing market is estimated at around $80 billion and is growing by 12% every year…automation in the industry is extremely low. As pressure from consumers increases, players will need to outsource an increasing share of their IT budget. With costs six to seven times lower than in the US, Indian IT companies stand to benefit from this opportunity…
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