The use of healthcare software across the industry in medical services is showing promising growth in the coming years. According to the report, the market size of healthcare information software worldwide touched US$ 23.8 Billion in 2022 and is anticipated to reach US$ 31.8 Billion by 2028, demonstrating a compound annual growth rate (CAGR) of 4.95% during 2022-2028.
What is healthcare software?
Healthcare software is any software system designed for the industry in medical services to optimize diagnosis and medical treatments. It is slightly different from medical software which stands for any product or system used for streamlining tasks, like paperwork and tracking patient activity.
Many hospitals are prioritizing the Electronic Health Record (EHR) platform containing digitally formatted health information of patients to automate and streamline their workflow and make informed decisions about the clinical treatment of patients.
Meanwhile, appointment scheduling software products are also gaining grounds for helping nursing departments to track and schedule shifts.
How is the software leveraged in the healthcare industry?
In the aftermath of US health spending crossing over 3.3 trillion dollars in 2016 with anticipated growth of 5.5% annually on average through 2026, major tech companies, like Google, Amazon, Apple, and Microsoft are eyeing to maximize the opportunity that they see in the industry.
For example, Google mulls over structured data and AI to handle an ocean of health data and so position itself as an innovation leader in medical fields. The search engine giant is also contemplating how to stand out by leveraging AI capabilities in the fields of disease detection, and health insurance.
Moreover, Google is said to have outdistanced other big tech rivals in leveraging AI talent and applications. It has collaborated with doctors in the US and overseas and developed an algorithm to help healthcare workers diagnose diabetic retinopathy. The company also assists clinicians to identify other diseases in the future using AI-based medical software.
Apple is one of the top tech companies leveraging healthcare software like patient monitoring apps. The company basically plays at an intersection between software and hardware. Apple, in partnership with Stanford Medicine, launched the Apple Heart Study, an application of research study to detect irregular heart rhythms by using heart rate sensors in the Apple Watch.
Amazon has already forayed into medical arenas and is selling medical supplies and equipment to hospitals and clinics. Amazon Web Services (AWS) is wooing healthcare customers in its Cloud business and is going head-on with Microsoft Azure and Alphabet’s Google Cloud.
Microsoft also gathered media limelight with its brainchild, Project Emma, a medical device for patients with Parkinson’s disease to stabilize their hand tremors.
It is aiming to extend its reach across medical fields. It has launched a new healthcare division using AI-based medical software in its Cambridge research lab. The company is willing to transform healthcare in the areas of patient monitoring solutions and diabetes research.
Benefits of healthcare software
One of the benefits associated with medical software is that it helps you deal with loads of routine paperwork. For clinical specialists, it is helpful in saving time that they can utilize in rendering superb medical services to patients. This could also mean reducing the physical burnout of professionals.
Another benefit is that it enables increased collaboration with physicians, doctors, and other clinicians so that they can share knowledge and ideas with each other, irrespective of their geographic locations.
For organizations, futuristic software in medical fields paves the path for enhanced diagnostics and treatments by enabling professionals to access comprehensive medical records of patients. It also accounts for greater patient engagement and patient satisfaction.
Therefore, the use of medical software means plenty of benefits for the industry, in terms of streamlining the productivity of doctors and other professionals in the domains of health care and improving their quality of care. It also ensures that hospitals and related organizations reduce unnecessary costs by automating their routine tasks.
For patients, healthcare software means quite beneficial as well.
For instance, using one of the software products, patients can easily book medical appointments remotely or fill out key documents online easily. Besides, patients can access well-researched medical documents to make themselves fully informed on a wide range of medical issues.
The software can also enable patients to conduct hassle-free communication using video chats or other remote tools to contact their preferred doctors or clinical specialists.
How to choose the right healthcare software development company
Conduct in-depth research
Considering the market is replete with countless software development companies, choosing the one you can trust with your requirements is like finding a needle in a haystack. Still, a meticulous research will help you come up with an idea of who you should choose for your software needs.
Study the portfolio and go through the references and reviews of a particular software company. read testimonials to gather an understanding of the service expertise of the company.
Moreover, you could ask for references from clients and approach them for ideas about the service excellence of your potential software development partner.
Miscellaneous factors to consider
Analyze the experience and expertise of a development company. If done carefully and wisely, you would gather an understanding of whether the company could be able to deliver the project based on your requirements.
You should also judge based on communication skills so that you can understand language is not a problem when working with your software development partner. Lack of effective communication pans out as a deal breaker between a client and service provider. Make sure you don’t have to encounter something like this while looking for the right custom software development company.
Wrapping it up
Healthcare software is ensuring its prominence for professionals in medical fields, in terms of streamlining their tasks in the areas of disease detection, reporting, and managing patient care with distinction. Big tech companies like Apple, Google, Amazon, etc. are already leveraging the medical software.
For instance, Google is leveraging AI capabilities to transform health services and is said to be the only tech company having outdistanced its rivals in doing so. In addition, such technological solutions pave the path for growth and exploration of more opportunities in an ever-growing health industry.
Health specialists can use intuitive software solutions to save the lives of billions of people around the world.
Do you have an app idea that you think can be materialized in transforming people’s lives? Consider hiring a software development company with expertise in developing cutting-edge healthcare software solutions.
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