KUALA LUMPUR, Malaysia, June 25, 2014 /PRNewswire/ -- Telecommunication companies in Asia-Pacific are increasingly exploring vertical markets like healthcare to open up new revenue streams. The market in the region holds great potential for telecommunication service providers owing to the large size and diverse healthcare issues across countries. The active participation of all industry stakeholders towards driving technology adoption in healthcare, along with government initiatives to improve efficiency and resource utilization, will have a profound impact on uptake.
New analysis from Frost & Sullivan, Global Assessment of Telecommunications Service Providers in Healthcare, finds that although the industry presents promising opportunities, few telecommunication service providers have been able to establish successful business models in this space. Whereas traditional telecom services have achieved strong penetration in the healthcare industry, more sophisticated solutions are only now starting to generate returns and have a long way to go in terms of enabling a new-age healthcare system.
In addition to innovative service offerings telecommunication providers within the region are also turning to the west for ideas as they struggle to develop and communicate a compelling healthcare business strategy. Competition too is brewing as several leading multinational telecommunications companies look to expand their footprint into emerging Asia-Pacific markets.
"Communication service providers are opportunistic in that they seek out products and services that are comparatively easier to monetize based on government priorities and reimbursement policies in the region," stated Frost & Sullivan Connected Health Senior Analyst Natasha Gulati. "Such products and services lay the foundation for sustainable revenues while more innovative pilot projects, such as telehealth networks for rural areas or mHealth-based educational programs, are tactics to underline their presence in healthcare as well as demonstrate the need for technology adoption."
Telecommunications companies are also partnering with universities to gain access to turnkey projects. For instance, British Telecom signed a deal with the General Hospital of Ningxia Medical University in China to offer healthcare IT consultancy services.
"Building an ecosystem of services is the key to success," advised Gulati. "The ideal strategy is to create a network of partners that includes software vendors, mobile app companies, medical device companies, pharmaceutical participants and hospital chains, among others, that can deliver holistic solutions to consumers in the Asia-Pacific market."
To learn more about emerging business models and key success factors for telecoms establishing a healthcare presence, watch Frost & Sullivan's complimentary webinar at https://www.brighttalk.com/webcast/5565/109331.
If you are interested in more information on this study, please send an e-mail to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
Global Assessment of Telecommunications Service Providers in Healthcare is part of the Connected Health (http://www.connectedhealth.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Video Telemedicine Market in Europe, Digital Pathology Market in China, Global Enterprise Content Management (ECM) Market for Healthcare, and Healthcare Cloud in APAC. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
