Being one of the biggest industries in this world healthcare sector is progressing with technology. Once upon a time, there were only traditional practices that medical professionals used to follow, but there are several things included right now.
The technology has a major influence on the medical and healthcare sector where- “Healthcare SaaS” is such a revolutionary technology that has changed the overall aspects. Including the professionals, there is a huge contribution of experts from healthcare app development company companies to innovate the solutions.
Before the Pandemic-2019, healthcare apps started to be in trend, and when the whole world was stuck in the global lockdown, there was a rapid increase in the use of modern-age digital healthcare solutions.
Now, reaching for the best treatment and medicine is easy for the patients; on the other hand, it facilitates the healthcare personnel to work impactful toward making a healthy society and eco-sphere. This article is dedicated to the Healthcare SAAS-Growth, Trends, Challenges, & Forecast regarding the upcoming year we will celebrate after a few days in 2022.
Before diving deep into the article, check out some stats about the Healthcare SaaS.
- In 2019, the recorded global digital health market worth was 175 billion USD, which is expected to reach 660 billion US dollars by 2025.
- In comparison to the previous years, 2020 has experienced huge investment in the digital health industry, which is 21.6 billion USD.
- The connected health monitoring devices will be ramped up in 2022.
- The global healthcare market is expected to reach 334 billion USD in 2022, which is 190% more than 2019($175 billion).
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Recent Developments in Healthcare Sector
Cloud Computing is such a beneficial technology, and it is not limited to a specific industry. It contains the solutions for almost all industries. The contribution of Cloud Computing technology is remarkable as it solves lots of issues such as data hosting, scalability, storage, flexibility, security and reach of the technology to the end-user. The healthcare SaaS appeared as a life savior during Pandemic-19 when healthcare professionals and other resources were shortfalls.
The healthcare SaaS helped the governments to fight the Corona Virus outbreak. One of the best examples is a mobile app launched by Oklahoma State Department to facilitate the health workers to provide remote help to Citizens affected by COVID.
In addition to the other facts following are some recent developments. It represents how healthcare SaaS is reshaping the whole industry.
- In Dec 2021, Microsoft and CVS health have collaborated to produce new-age healthcare solutions using AI and cloud computing.
- The MetaCell- a life sciences software company introduced hosting services named MetaCell Cloud Hosting, where health care organizations can leverage it for research and innovation
- The Siemens organization launched- Team Play digital healthcare platform. It is most compatible with on-premise deployment and edge computing.
- For facilitating the life sciences and healthcare companies, Amazon, as a leading SaaS Development Company, launched the tool in Dec 2020 named Health Lake.
These are some of the examples only. There is lots of work going on where major players are –
- IBM Corporation
- Amazon Web Services Inc.
- Dell Inc.
- Oracle Corporation
- Koninklijke Philips NV
These companies are involved in enterprise mobility solutions and deal in HIPA based Healthcare SaaS solutions.
What is Healthcare SaaS?
The SaaS represents Software as a Service, which is one of the types of cloud computing services. The healthcare SaaS is a category where solutions are developed for research, innovation, simulation, and medical training. It comes with several features and remains lightweight applications.
These features remain worthy for both the stakeholders, i.e., patients and healthcare specialists. Here consumers’ needs to pay the service fee while using the cloud-based healthcare software as a service.
The Revolutionary Effect of SaaS on the Medical Industry
Based on the Cloud technology, the healthcare SaaS system makes life easy and less painful for patients worldwide. Another benefit is making work smooth for any hospital or healthcare business management. From managing point of view, it is quite a challenge to provide the best treatment experience to the patients and manage the expectations of the staff. Here Healthcare SaaS app development works as a great savior for the institutions.
The reasons that make SaaS a dynamic and robust option for the medicine and healthcare industry are-
1. Clinical Documentation Management
The documents used to record and manage the patient’s treatment history is called clinical document. SaaS-based documentation helps overcome obstacles such as data redundancy, human error while documenting the treatments, and many more.
Pandemic-19 was a lesson for the whole world where we have seen several solutions that we can’t imagine. For example, before 2019, there were only a few solutions for teleconsulting, or it was going on the call only. Now, several healthcare SaaS apps like ZOCDOC, CAREDOX, AICURE are in the trend.
3. Electronic HIE
The Electronic HIE stands for healthcare information exchange. It is the most promising solution that allows healthcare providers to share information flawlessly regarding population health management. It is advantageous in reducing administrative efforts, and medication errors, and ensures transparency and data security.
4. Learning Management Systems
Medical education is also one of the parts of the healthcare ecosystem. The cloud-based LMS provides 360-degree freedom to medical professionals for learning and teaching.
Benefits of Healthcare SaaS
During and post-pandemic, there is a huge rise in digital healthcare solutions, and companies are leveraging it for growth in their business.
So, there are several benefits of Healthcare SaaS solutions that you would like to read-
- Better patient Engagement
- Ample business growth opportunities
- Fine clinical documentation improvement
- Fine-tuned patient history management
- Ultra-modern teleconsultation
- Perfect health information exchange procedure
- Accessibility to various resources
- Simulation, automation and training
- Cost-effective healthcare solutions
- Real-time updates
And many others.
Top-10 Revolutionary Healthcare SaaS Trends
Here are the top-10 revolutionary healthcare SaaS trends you need to focus on. These trends are game-changers. If you are looking for healthcare SaaS development, it would be worth going through all these.
1. Smart AI Solutions
Artificial Intelligence solutions always remain on the top due to having various advantages. When AI and SaaS collaborate, you can easily expect its magic. In 2022 an organization can leverage this combination with the help of a healthcare app development company. Natural language processing and machine learning are enough to transform healthcare solutions delivery.
2. Use of Multiple Clouds- PaaS
Cloud-based apps have gained momentum, and in the future, there will be more as these become the trusted method of growth. Healthcare companies can overcome the bottleneck issues via using the cloud-based apps developed by a mobile app development company. It can help them have better data storage, secure & manage the healthcare data, provide better services to the patients at the right time, and many more.
3. Focused Security
It is okay that technology provides ease for exchanging or sharing data. Still, there are several threats that you can handle with the help of Cloud technology. The reason is that the patient’s records are in digitalized format at almost all places; making these secure is such a challenge. Here using multi-cloud solutions in 2022 is a great thought.
4. Vertical SaaS
Regarding the revolutionary trends, the vertical SaaS is one of the exciting trends. It facilitates the healthcare mobile app development company to develop client-specific and supply chain applications. Its finest examples are modern logistic analysis, Healthcare BI Systems, and retail analysis.
5. API Connections
APIs are the best to add some new functionalities to the existing systems. Due to the rising demand for Healthcare SaaS development, there is a considerable need to include API, aka Application Programming Interface. It is one of the most significant trends for 2022. It is a perfect technique for organizations to migrate the data between clouds or synchronize the data.
6. Platform-as-a-Service(PaaS) Migration
Using PaaS is an exciting idea to use where a healthcare company can develop customized app and SDK with the help of healthcare app development experts. It ensures web-based secure solutions. It offers flexibility and scalability.
7. PPU Model
The term PPU model stands for the Pay-Per-Use. Usually, the healthcare SaaS model works subscription basis that can be weekly, monthly, or yearly. In the upcoming year, the Pay-Per-Use model will be trending. It allows healthcare companies to customize their services on a pay basis where patients who want temporary health services can utilize them.
8. Micro SaaS
Although SaaS products have revolutionized the whole market, there are still some services missing. The Micro SaaS exists to fill this gap, and its ability makes it one of the exciting trends you need to focus on for 2022. It works as an add-on service. For example, instead of using a whole new SaaS product, you can use it to cover the gap your existing SaaS service lacks.
9. Edge Computing
Now it is very easy to track the patient’s health with the help of wearables. The only disadvantage is massive data generation. That is much complex to handle for the service providers. Edge computing makes data management every easy where it limits the data transmission and also send the data in intervals instead of sharing constantly. In turn, it makes data management smooth.
10. Data-as-a-Service (DaaS)
DaaS has close relation with SaaS. Its main advantage is that data can be hosted, sourced, integrated and standardized as per organizational requirements. For the healthcare sector, data is much important, including operational data and patient’s records, treatment details, and many more. DaaS provides centralized access to structured healthcare data.
Healthcare SaaS Growth & Forecast
Various sources reported that the upcoming years would be of global healthcare cloud computing, which is expected to reach $76.8 billion in 2026. In addition to the cloud, the healthcare brands will also focus on big data, IoT, AI, Machine Learning, Natural Language Processing, Robotics and data analytics. It shows that the growth graph is tending upside with rapid speed.
Here, there is no need to mention that SaaS is one of the crucial elements or techniques of Cloud Computing. It facilitates medical companies or brands to share, track, and analyze the data in a great sense, including cost-effectiveness.
It directly results in fine patient care and deploying IT infrastructure. The Healthcare SaaS app development works as a boon for the small scale healthcare brands where they do need to worry about the cost and functionality.
In 2020, the Global healthcare cloud computing market was estimated to grow US$26.8 billion that is revised now, and experts are expecting that in 2026 it will be $76.8 with a CAGR of 18.7%. Another interesting fact is U.S. healthcare market will be $16.9 in 2021, and the global healthcare cloud computing market will hit $35 billion by 2022.
The picture is clear that there is sure growth in the healthcare segment where whole credit goes to healthcare SaaS. The best thing is, even a small organization can leverage cloud technology such as medicine delivery app development.
The Key Challenges Healthcare Managers Will Face in 2022
Although the core responsibility of healthcare professionals is to treat the patients and keep a constant eye on their recovery and their treatment history, they also have to face the upcoming challenges. The best example, COVID-19, was such a challenging phase, and the whole world faced lots of hurdles to tackle the extreme conditions. Now, that phase is over, and the world is slowly moving forward, there are still some challenges that need to be taken care of by health managers in 2022.
1. Rise of Telemedicine
The term telemedicine is not a new term to the world, but it gained its momentum in 2019-20, when people approached doctors and healthcare professionals online. As per a study done by McKinsey, 76% of consumers will be on-boarded on telehealth options. Including several benefits, it is also a challenge for health managers in 2022 to implement the strategy, arrange the equipment, staff training, and many others to provide the best telemedicine experience.
2. Patient Expectations
Consumers are smarter now, and they know how to use online options. So, the same is applied to healthcare options. Due to the availability of several options, the patients need streamlined options to have the best solutions for their health. It is a challenge for the managers to provide the arrangements that must be up-to-mark and best fit the patient’s expectations. Regarding healthcare, SaaS will work fine if implemented appropriately.
3. Gaining Trust
Trusts gaining is one of the toughest and easiest in this world. It also applies to the healthcare sector. Whenever a patient consults a doctor, he has only trust behind it, but due to some awkward sequence, things can go worst if the trust is broken. Although healthcare managers can cater to the request of patients with the help of SaaS solutions, trust generation requires lots of manual effort. The professionals have to deliver the promise.
4. Effective Payment Models
There are several payment methods available due to the technical advancements. Still, many consumers fail to manage payments due to the availability of ineffective payment methods. On the other hand, financial risk management is such a tussle task for med tech manufacturers. So, here healthcare managers need to make and follow the strategy to implement effective payment models so that both stakeholders can enjoy the benefits.
5. Data Protection
Cyber threats and data breaching are one of the biggest threats for 2022. The reason is that high data exchange takes place every day containing crucial information related to the patients. In the case of data theft, information can be used for illegal purposes. A strict mechanism is required to protect the data from unauthorized users, and it is the sole responsibility of health managers to implement it.
These challenges for 2022 need to be tackled smartly to ensure the best experience of healthcare services, and no doubt, Healthcare SaaS app development can save you from many hurdles.
The Final Thoughts on Healthcare SaaS!
Healthcare SAAS-Growth, Trends, Challenges, & Forecast For 2022 are most important to know for the professionals and companies involved in this business. The best thing is that companies can increase their clients’ base with the help of innovative healthcare SaaS apps.
They can focus on many things where a better service experience is the priority. If you plan to launch an app, it would be best to hire an experienced healthcare application development company. It will help you to have an optimized product that you can use as a great tool to achieve your goals.