Digitalization is no exception for the healthcare sector, just as you see the world revolutionized with technological advancements. Even with the introduction to the latest software, trends, and technology, health tech lacked par beyond expectations. Speaking of the main concerns, security, and ultimate use of cloud in all aspects of healthcare, the potential is more tremendous, if given the right direction.
In healthcare, it’s more crucial than ever to rely on trustworthy technology that enhances the experience of patients and medical providers. Moreover, to ensure effective medical processes, and minimize risks to the greatest possible extent. SaaS is bringing about the right change.
What is SaaS; especially in health tech?
If you are here, you must know what SaaS is, and if don’t, let’s have a quick walk through “Software as a service,” or SaaS.
In simpler words, it is a distribution software that offers services via the use of the internet is an example of (SaaS). It means users no longer need to worry about downloading, installing, and updating software since they can just access it through the internet.
What are healthcare SaaS examples?
Healthcare software as a service, also known as healthcare SaaS, includes:
- Patient Portals
- Decision support systems for clinics
- Healthcare complaint management software
- Health Tracking Apps
- Healthcare Billing Software
- Hospital Management Software
- EHRs, also known as electronic health records
- Remote patient monitoring (RPM)
- Medical Diagnosis Software
- Medical Image Analysis
- E-Prescribing Software
Several different medical facilities currently use these types of SaaS technologies. As a result of this, software as a service is generally recognized as a highly dependable method for enhancing the patient experience, alongside companies’ growth and value.
This eliminates the need for laborious device and software upkeep. The subscription-based model that is offered by SaaS has several advantages, including cheaper initial costs, elimination of maintenance expenses, increased levels of security, and immediate implementation of newly developed features.
Outlook of the SaaS Healthcare Market
A result of the fact that all medical organizations are looking for ways to improve the quality of their services. Whereas patients require accuracy and immediate responses while having an excellent experience. Healthcare SaaS makes it possible to meet both needs simultaneously, without increasing spending,
As per the GrandViewResearch, the healthcare SaaS market was estimated to be worth USD 12.5 billion in 2020. On the other hand, the anticipated growth of 19.5% at a CAGR from 2021 to 2028, is evidence of the need.
Game-Changing SaaS Trends For Healthcare in 2022
In the field of healthcare, SaaS has already achieved a significant level of success. Though, usage of the software as a service is expected to expand in the next years due to the numerous benefits that it provides.
The possibilities are that several advancements in healthcare SaaS may assist expansion in healthcare SaaS soon. Here are some of the healthcare SaaS that has astoundingly changed healthcare for both providers and patients.
1. Vertical SaaS
Vertical SaaS is one of the most recent breakthroughs in the software as a service industry. Companies operating in any industry can make use of horizontal software as a service. Because of this, it is utilized more frequently. On the other hand, vertical software as a service is targeted at a particular industry, such as cloud computing is healthcare.
As a consequence of this, it is now much easier to zero in on specific issues and create individualized solutions that take into account both the requirements of the firm and the expertise of the relevant industry.
2. Artificial Intelligence (AI)
A large number of successful technology organizations automate corporate activities by utilizing AI, which enhances both productivity and efficiency. According to the results of MIT Technology Review Insights survey in partnership with GE Healthcare, about 78 percent of respondents stated that the AI deployments in their organizations had already improved workflow.
The implementation of artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) are having a transformative impact on the delivery of healthcare. In machine learning, data is analyzed using algorithms, and patterns are identified using those analyses. It is conveniently able to analyze enormous volumes of data, draw conclusions based on those conclusions, and make predictions with a high degree of precision.
As a direct consequence of this, computer systems are no longer constrained to only carry out the tasks that have been programmed for them but are instead allowed the freedom to respond to the conditions of their surroundings.
3. Cloud Computing
In the light of the fact that the dimensions straddled in a healthcare institution are enormous. Whether it is managing records, scheduling patient appointments, keeping up with out-patients and in-patients management, diagnosis, ICUs, operation theaters, and labs, the numbers just keep increasing. More to that, store and inventory management, pharmacy, invoicing, managing payment options, and keeping with up the constant need for updating records, no one source can be enough.
In addition, with the immense growth in the adoption of e-prescriptions, EHR, telehealth, and other IT solutions related to healthcare, the uptake of big data analytics, wearable technology, and the Internet of Things, the expansion of cloud is evident in the healthcare sector. The emergence of new payment models and cost-efficiency are the primary drivers of the growth of the healthcare cloud computing market.
However, issues with data security and privacy along with rules regulating cloud data are anticipated to put a pause or limit the industry expansion to some degree. Though, when it comes to the healthcare cloud computing market on a global level, the anticipated growth of 17.8% from 2022 to 2027 is seen at CAGR, which is from USD 39.4 billion to USD 89.4 billion .
4. API connections
An application programming interface allows two or more applications to interact with one another. Also known as API, this interface offers interoperability between different healthcare internal applications like electronic health records (EHRs), and other data sources consolidated into a single source. APIs such as the Google Cloud Healthcare API has taken an exciting leap forward by providing enterprises with the ability to find the true value of healthcare data through the exploration of big data in novel ways.
As per the KLAS API Research report in 2021, they said that “The use of APIs offers new ways to facilitate data exchange in service of myriad use cases,” and which is not wrong as per the latest trends and requirements.
As the demand for healthcare software as a service (SaaS) rises, so does the necessity of linking these services to the many business systems that are now in use. Other companies make the decision to totally shift their data to a new cloud platform, while others opt to integrate their data with their existing infrastructure. However, there is no single approach that is superior to others when it comes to data integration. As a direct result of this reality, a significant number of healthcare organizations are dependent on SaaS suppliers to deliver superior integration capabilities.
5. Transitioning to the Platform as a Service Landscape
The most recent innovations in SaaS, platform as a service (PaaS) may be able to aid healthcare companies in overcoming some of their most difficult issues. How and why? The fact that many software experts and healthcare professionals place a strong emphasis on patient retention and acquisition, makes PaaS a more appealing option.
PaaS gives businesses and other organizations the ability to construct their own applications and comes with a software development kit (SDK). Custom health applications may be beneficial for medical practices to increase operational effectiveness, guarantee patient comfort, and simplify staff operations for a seamless workflow. PaaS is a healthcare cloud solution that should be considered by enterprises that are not willing to take risks of compromising high-quality and timely services.
The challenges of deploying SaaS healthcare models and the potential solutions to those challenges
Nevertheless, it is essential to keep in mind that these tendencies are not easily addressed, especially without professional help.
Security:
To begin, SaaS healthcare models are responsible for the management of a large amount of data, all of which must be kept confidential. For proper functioning, it is necessary for it to conform to several regulations, such as HIPAA Compliance.
This is a tedious and time-consuming process, but it is very important; thus, the best answer is to get in touch with a reliable software firm that has experience working with HIPAA Compliance.
Best Knowledge Of SaaS Tech
In a similar vein, one of the most challenging aspects of deploying SaaS healthcare models is the need to educate individuals on how to make effective use of the SaaS facilities. Therefore, organizations should be sure to provide clear direction and assistance during the learning process and transition, as well as a follow-up session later to bring new procedures up to date. In addition to this, they may rely on cloud based LMS, which gives professionals the opportunity to educate themselves on the subject at hand.
Adaptability Constraints
Modern consumers are more intelligent and adept at using online resources. The same logic thus applies to healthcare choices. Because there are many alternatives available, people need simplified options in order to have the greatest answers for their health. The managers find it difficult to provide the arrangements that must be current and best meet the patient’s expectations. If done properly, SaaS will function well in the healthcare industry.
However, you can overcome the issue by offering better demonstration to some degree of adaptability when it comes to embracing new technology.
It requires to have some faith on both ends that a SaaS healthcare provider would safeguard all their personal information.
Take Away!
In an industry that largely depends on good administration, transparency, and seamless interdepartmental communication, SaaS may aid in overcoming the obstacle. Mainly, the problem lies in the ingrained administrative and infrastructural issues. It has become the need of an hour for all stakeholders in the healthcare organization to be connected through SaaS-based health tech solutions. It offers scalability, data security, and agility.
It is particularly pertinent in areas with overburdened healthcare services, insufficient infrastructure, a rural-urban split, and other similar challenges. SaaS-based health tech solutions are becoming more and more commonplace, which is great news for everyone because we are talking about providing everyone with timely access to high-quality healthcare.