The healthcare and technology organizations tend to be very optimistic in the coming year for the world’s cloud computing industry.
For the healthcare sector, cloud computing isn’t a whole new concept. The implementation of cloud technology has been growing at a frenetic rate over the last few years. According to a recent report, the global demand for cloud technology in the healthcare industry is projected to expand by US$25.54 billion by 2024. And the outbreak of COVID-19 has only intensified this development.
Although these pandemic effects are still evolving, it is already evident that not all, with some even promising growth, will experience the same consequences. The healthcare and technology organizations tend to be very optimistic in the coming year for the world’s cloud computing industry.
According to Built In, Cloud computing in healthcare is growing so fast that estimates put its global market value at nearly US$10 billion by 2020 and US$45 billion by 2023. A related statistic, from Black Book Market Research, pegged healthcare cloud adoption at a robust 74%. And per a recent story in Global Health magazine, 2019 shaped up to be the cloud’s biggest year ever across the healthcare spectrum.
As social distancing became the new paradigm, the relationships between patients and physicians had to be reconsidered by healthcare practitioners, and innovations that had previously been steadily evolving, such as electronic health records, were quickly intensified.
Along with improvements in patient preferences and modern payment models, this new reality has made technology a major element not only in improving patient care, driving quality, and reducing waste but also in ensuring their protection.
Cloud computing’s most popular benefits are mentioned below. These various levers will help direct your choices on what kind of in-house technology should be enabled and what to transfer to the cloud.
Flexibility
Cloud computing helps healthcare providers to maximize or minimize their data retention, depending on the flow of patients. If a need occurs, it is easy to increase the ability of the company by pressing a button. Similarly, if a cloud model has to be decreased, versatility exists. Flexibility can provide a true competitive advantage as any second loss affects patient safety and expenditure.
Cost
As cloud storage is part of a subscription model, medical providers can save money by buying costly devices and systems. Furthermore, health facilities are able to lower costs using the resources of the service provider through the use of a cloud server.
Security
In order to protect their users from unauthorized access and breaches, most cloud providers now provide protection, risk assessment, and security solutions. It’s all about the cloud service being evaluated and what it offers.
According to Express Healthcare, Gartner in October this year has predicted that by 2022, public cloud services will be essential for 90% of data and analytics innovation. In addition, by the end of 2024, 75% of enterprises will shift from piloting to operationalizing AI, driving a 5X increase in streaming data and analytics infrastructures in the cloud. As a top 10 trend in data analytics for 2021, Gartner has said that “cloud is a given need” for data analytics this year.
With recent advances in cloud analytics, for people with COVID-19 mutations, it is possible to gain valuable insights into vaccine efficacy. This can eventually contribute to people, around the globe, providing customized and quality healthcare solutions.
