South Korean Hospital Information Systems Markets

SUMMARY

Market Overview

Government Initiatives Driving Healthcare Information Technology

In keeping with its status as one of the fastest growing economies in the world, South Korea spends an estimated $49 billion on healthcare each year. This figure is expected to further grow at an annual rate of 13.0 percent, largely benefiting hospital information systems (HIS) markets in South Korea. Key drivers responsible for the growth of the HIS markets include the nationwide medical insurance program and extensive government support through regulations and legislations.

South Korean health care system is predominantly driven by the private sector. Private hospitals and clinics account for 92.6 percent of all medical facilities in terms of the number of facilities and 87.4 percent in terms of the number of beds. The government is looking to mobilize direct foreign investment in the healthcare industry, and as new opportunities (such as privatization of facilities) occur, it hopes to attract a further $15 billion toward the reinforcement of the country's healthcare facilities by 2010. "Further, the South Korean Government is also actively encouraging the uptake of advanced technologies and facilities in the healthcare delivery structure," notes the analyst of this research service. "For instance, the subsidies given to digital radiology departments for examination is much higher when compared to those offered to conventional imaging services and as a result, around 60.0 percent of the large teaching hospitals have turned completely filmless."

Regulations -- Providing the Growth Impetus

In keeping with the South Korean Government's initiatives to modernize its healthcare delivery, the Ministry of Health and Welfare (MOHW) is fast exploring ways of using information technology to improve medical insurance services and ensure operational efficiency. In March 2002, the South Korean Government revised the Medical Act, enabling the use of electronic order communications, electronic medical records (EMR) by doctors. This law took effect in March 2003 and since then its new provisions have been promoting as well as accelerating the implementation of novel medical information systems such as the total hospital information systems and EMR for the coming years in South Korean hospitals.

"Most of the South Korean hospitals with more than 100 beds are in the process of installing HIS, as a result the South Korean HIS market holds a huge market potential," says the analyst. "New regulations necessitating the conversion of paper records to the electronic form are likely to catalyze market growth and this, undoubtedly, is expected to lead to increased demand for medical IT equipment and systems in South Korea."

TABLE OF CONTENTS

• 1. South Korean Hospital Information Systems Markets
  • 1. Research Overview
    • 1. Research Overview
  • 2. Table of Contents
    • 1. Table of Contents
  • 3. Research Scope and Methodology
    • 1. Research Scope and Methodology
  • 4. Introduction and Background
    • 1. Defining Hospital Information System
  • 5. Healthcare Overview
    • 1. Market Overview
    • 2. Healthcare Expenditure in South Korea
    • 3. Regulatory Environment
    • 4. Payor Overview
  • 6. Market Dynamics
    • 1. Major Challenges Faced by Vendors
    • 2. Drivers and Restraints Affecting the HIS Market
  • 7. Market Forecasts
    • 1. Key Market Engineering Measurements
    • 2. Revenue Forecasts (2003-2009)
    • 3. Market Segmentation
  • 8. Industry Participant Analysis
    • 1. Competitive Structure
    • 2. Major HIS Installations
  • 9. Strategic Analysis
    • 1. Emerging Scenario for Vendors in South Korea
    • 2. Proactive Plan for Vendors - 1
    • 3. Proactive Plan for Vendors - 2
    • 4. Proactive Plan for Vendors - 3
  • 10. Industry Participants
    • 1. Leading Vendors in South Korea
  • 11. Decision Support Databases
    • 1. Number of Hospitals - Asia Pacific (1999-2006)
    • 2. Total Healthcare Expenditure - Asia Pacific (1999-2006)
    • 3. Healthcare Expenditure as Percentage of GDP - Asia Pacific (1999-2006)