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Why it matters: Cloud computing, AI, and other technologies are revolutionizing the healthcare sector in the U.S. and many other countries. Cloud computing offers numerous benefits to the healthcare industry, including reduced spending on hardware and infrastructure, enhanced data security, streamlined data backup and disaster recovery, improved management of electronic health records (EHRs), enabled data-driven decision-making, and greater interoperability. Despite these overwhelming benefits, there are concerns and issues regarding the use of cloud computing in healthcare, namely cybercrime, privacy risks, and HIPAA compliance. What the numbers say: The Future Health Index by Philips includes a survey outlining the biggest factors that 2,900 healthcare leaders said would support them fully utilizing health data worldwide in 2022. The top three factors were having more clarity on how data is being used within a healthcare facility (27%), the availability of data specialists to manage and analyze data (24%), and having access to tracking performance metrics/KPIs to measure impact. Moreover, the U.S. healthcare cloud infrastructure market is growing rapidly; data from Precedence Research shows that the global healthcare cloud computing market size was valued at USD 35.61B in 2022 and is projected to hit $127.01B by 2030 with a CAGR of 17.2%. Brands that should care: Several health technology providers have announced partnerships with cloud giants in recent years, including Cognizant and Microsoft, Redox and Google Cloud, and many others. Health technology providers should look into cloud computing can innovate their healthcare offerings. Furthermore, hospitals, clinics, and other healthcare institutions should consider implementing cloud-based solutions to drive efficiency and improve patient care. |
What Happened: Dutch health technology provider