The global Healthcare IT Market size is expected to be around $53.3 billion in 2019. It has seen a significant turnaround due to advancements in technology, one of the advancements, Cloud Computing. The global healthcare cloud computing market itself, is expected to become about $10 billion by 2020 (with a CAGR of almost 20%).
By migrating to the cloud, Healthcare IT management is becoming easier, cheaper, more connected, and more real-time. The benefits of migrating to the cloud are becoming vital to the general community. Three benefits are:
Electronic Heath Record (EHR) – For many years, patient records were maintained in varied formats that were inaccessible not only due to custom formats and lack of digitization but also due to patient privacy needs. Today, people are accustomed to always having information easily accessible at any time. There are also benefits to having access to patient records anytime and anywhere, due to inevitable emergencies and situations. Standardized health records can be stored in the cloud, encrypted and protected as per HIPAA requirements, but still accessible at the click of a button. This capability has facilitated the extraction of data to receive critical care at the right time.
Analytics and Big data – Patient treatment depends on the Doctor’s ability to correctly diagnose the problem and then provide the right treatment. The diagnosis, in turn, depends on the Doctor’s own experience and probably his/her network from where he/she would get additional information. For a long time, this network was limited to colleagues and maybe a friend circle. With cloud computing, this has suddenly expanded to the entire world. With millions of cases available online, data analytics can crunch these and create efficiently indexed information at the fingertips of the Doctors worldwide. No wonder average life expectancy is going up.
IoT – With the penetration of connected and wearable devices, Doctors have almost real-time access to patient’s data. This not only helps keep track of vitals and provide services, at times, even before a causality occurs but also helps keep track of how regularly the patients are taking the prescribed medication. Even the Microsoft’s gesture-based gaming device, Kinect, was used to track physiotherapy sessions and effectiveness when patients were doing their sessions on their own at their homes. From a community perspective, wearable devices are helping get the community more aware of their health, and it helps track their own exercise regimes. Mobile applications are also helping to keep track of data of an entire family, at one place. The need to share information on social networking sites is also helping people become more health conscious and these apps help post their progress, creating healthy competition among the masses.
This is, as they call it, just the tip of the iceberg. The strong shift towards digitization and technology enablement has given this industry a new name – Digital Medicine. Come to join us at the Digital Medicine Conference (https://www.digitalmedicineconference.com/) where our CEO, Phani Tipparaju(https://www.digitalmedicineconference.com/agenda/speakers/380922), along with other industry leaders talk about the current and future of this extremely exciting era in the world of healthcare.