With developing SaaS trends and technologies, the Future of the health sector holds great potential.
With the rise of chronic diseases, the healthcare industry desperately needs technological breakthroughs. In many aspects, the appropriate technology can transform the medical business. It can save more lives, increase care quality, and improve overall health.
But how?
The answer is to adopt new technologies like SaaS (Software-as-a-Service).
One of the primary challenges with deploying new technologies in the healthcare sector is the expenditure. That’s where the healthcare SaaS model can help. It is possible that developing SaaS applications is less expensive than producing independent software. Healthcare services may be delivered faster, better, and cheaper via SaaS systems. It’s past time for healthcare providers to concentrate on SaaS development and boost efficiency and return on investment. We’ll explore healthcare SaaS trends in 2022 and their benefits in this blog.
What is SaaS in healthcare?
Several years ago, the cloud was a surprising concept. Security issues prompted a pushback toward healthcare Software-as-a-Service (SaaS) applications. Healthcare organizations are starting to realize the benefits of implementing precautions.
Many healthcare firms turn to SaaS to adopt cloud-based EHR systems and EMR at a lower cost (electronic health records). They’ve started rolling out SaaS apps across their hospitals.
EMR (electronic medical records), EHR, PACS, telemedicine, and other apps. RCM, billing, supply chain, and other non-clinical information systems.
SaaS for healthcare.
The Future of Healthcare SaaS
Because of the pricing, security, and scalability advantages, healthcare SaaS will grow more popular in the Future.
Researchers recently estimated the worldwide healthcare cloud computing business to be worth $18 billion. They estimate that the market will produce USD $61 billion by 2025, with a CAGR of roughly 18.7% between 2019 and 2025.
We’ve arrived at a point where the cloud is poised to take over the health-tech business. Some of the top healthcare SaaS trends will emerge by 2022 and beyond.
Trends in Healthcare SaaS
Some of the most prevalent healthcare SaaS developments and how they’re transforming the industry.
Intelligent Artificial Intelligence (AI) Systems
With innovative emerging applications, artificial intelligence (AI) is ready to challenge the industry. SaaS platforms that include AI become self-learning and autonomous. Healthcare firms are embracing AI-based solutions.
Several successful technology organizations use artificial intelligence to automate business processes, enhancing productivity and effectiveness. According to analysts, approximately 81 percent of businesses are already working on AI technologies.
Natural language processing (NLP) and (ML) change healthcare delivery.
To analyze data and discover patterns, machine learning ML employs algorithms. It can monitor enormous volumes of data, learn from it, and make a judgment. It facilitates the performance to react to their surroundings rather than being specifically programmed to perform a set of tasks.
On the other hand, the pattern recognition capability allows businesses to program their computers to accomplish the desired target. When something happens, the system can immediately notify the management.
That’s a profound statement!
How can AI help the healthcare SaaS industry?
AI automation can help healthcare SaaS companies in a variety of ways. It first alleviates fears about security vulnerabilities. Detecting possible risks becomes easier when you can spot trends. The best thing is a self-recovery feature that can aid in data recovery.
The NLP aspect can also assist in detecting voice control and human speech patterns. Such software can assist in meeting client requirements and improving customization. Personalized healthcare pathways are a hot topic right now.
Businesses use machine learning frequently.
As firms transition from knowing Infrastructure as a Service (IaaS) on a single cloud to understanding how PaaS and SaaS can function together, such problems may become increasingly widespread.
Concerns about data security are legitimate. As a result, in 2022 and beyond, businesses will have a greater need for cloud security.
SaaS vertical
Another fascinating technology that will catch on in 2022 is vertical SaaS. Companies can use horizontal SaaS in any industry or sector. Vertical SaaS, for example, focuses on a single industry, such as healthcare. It becomes easier to concentrate. It becomes easier to focus on specific difficulties and provide customizable solutions. In the Vertical SaaS system, they tailor the customized solutions to meet the needs of corporations and experts.
With its tailored solutions, vertical SaaS will become a growing focus in the B2-B industry.
Vertical SaaS applications include healthcare BI software, modern logistics analytics, and retail analytics software, to name a few. Because of their ability to customize, the advantages of specialization are more cost-effective.
Here’s an example of a successful vertical SaaS
Healthcare, biotechnology, and pharmaceutical industries are very complicated and have high demands. Vertical SaaS has evolved into an expert service for life science organizations, providing compliance support and safe data storage for researchers. The advantages of switching to this trend are obvious.
Increased Requirement for API Connections
APIs are the next big thing in healthcare SaaS. (Application Programming Interface). As healthcare SaaS grows, so does the need to integrate it with existing business systems.
API-first applications are more expandable, easier to integrate and promote a larger community around possible use cases. APIs are not futuristic; they must now be an integral component of your overall strategy.
While some businesses opt to move their data to a different cloud platform entirely, others prefer to harmonies their data. Vertical SaaS has developed into an expert service for life science organizations, providing compliance support and safe data storage for researchers. The advantages of switching to this trend are obvious.
Some people opt to integrate their data with current systems. However, it is not possible to integrate data completely. As a result, many healthcare companies rely on SaaS vendors to help them improve their integration skills.
Why would you use valuable resources to recreating something in-house when someone else can do it better? It can be fruitful, mainly because firms will no longer have to transfer their patients to third parties. You might choose to hire a cloud vendor, which is fantastic! Here is a quick list of questions to consider.
Here’s a list of brief questions to keep in mind for more seamless integration.
Is it possible to smoothly integrate my legacy system?
What happens to Data during the integration process?
Can the cloud provider assist me in integrating the SaaS into my current business system?
Learn more if you want to invest in a third party. Having your answers before investing can assist you in making quick and accurate judgments.
Moving to a PaaS Environment
The landscape of SaaS is likely to transform to Pwa (platform-as-a-service). Why? PaaS is more appealing because many developers specialize in healthcare software and focus on patient retention and acquisition. PaaS enables businesses and organizations to establish unique apps with the help of a software development kit (SDK). Custom health apps can assist mid-sized medical clinics with a decent IT department. Such enterprises should consider PaaS as a healthcare cloud solution.
The cloud solution can provide a secure environment for web-based services and cloud application deployment.
Micro benefits of SaaS Unbundling
Do you know what micro-SaaS stands for? Small teams typically handle Micro-SaaS businesses with as few as two employees.
Complimentary add-ons to current advances and established platforms are typical products such businesses offer. The add-ons, on the other hand, are exciting because they help to improve lacking functionality and enrich existing SaaS products.
For healthcare Big Data, edge computing will become a must-have data-generating machine. According to Forrester, nearly 27% of worldwide telecom decision-makers have declared their intention to grow or utilize edge computing in their operations.
The following are some of the benefits of SaaS Unbundling:
- High-speed data transmission
- Less reliance on bandwidth constraints
- Cost savings
ICU sensors, for example, require quick data analysis and command execution, such as closed-loop systems that preserve physiologic homeostasis.
As sensors become more advanced, systems to detect insulin levels, brain activity, GI functioning, and other parameters will be required.
Forward-thinking healthcare organizations will consider edge computing and benefit from its disruptive impact.
Pay-per-use
Subscription models are evident among SaaS businesses. They opt to pay users a monthly or annual fee for using their services. Customers and sellers will benefit from the model.
However, several organizations have successfully shifted to a pay-per-use (PPU) system. The reimbursement model is particularly advantageous for healthcare organizations that provide transitory services. Such pricing strategies are appropriate for a healthcare start-up with cash-flow concerns.
Revenue growth from DaaS
Around 30% of businesses will start producing income from Data as a Service (DaaS) in 2022 and beyond as AI adoption grows.
According to the survey, nearly 75% of corporate management services will integrate with AIs. More than 50% of users will come across AI at some point.
For healthcare companies, the developments are encouraging and will result in a significant seismic shift. It’s time to harness the transformative potential of trends and apply them to your healthcare operations.
Advantages of the SaaS Model in the Healthcare Industry?
Healthcare SaaS offers numerous advantages. You may improve your company processes, increase productivity, and create a secure intranet.
Numerous SaaS suppliers cater to the healthcare business. They’re making collaboration more accessible and enhancing patient care outcomes. However, the advantages are only the beginning. List the main reasons for using SaaS in the healthcare industry.
- Boosting Data Security
Data security for patients and workers is fundamental. You must ensure no data leaks or breaches because the information is confidential.
What alternatives do you have? You might have a knowledgeable IT staff. Your IT partner can keep all systems operational while decreasing risks and security flaws. Is it, nevertheless, conceivable to have an internal IT department?
Having such an experienced crew for a medical facility is unfeasible on most budgets. At this point, SaaS can help.
Healthcare organizations can utilize cutting-edge technology solutions by using a dependable SaaS platform.
- Strengthening Medical Information Transparency
Focusing on transparency is a crucial aspect of achieving more excellent healthcare quality. How can a patient receive the most outstanding possible care?
To deliver better solutions, doctors and medical professionals must first access the patient’s complete medical history.
Consider a patient who cannot respond to critical medical queries independently. Access to patient medical records can assist in these situations. Fortunately, with SaaS and EMRs, health information transparency has improved significantly.
Over 64% of doctors have electronic health records (EHR) that they can use to learn more about their patients. The trend is positive, and more healthcare businesses will likely offer electronic records to their patients.
- Telemedicine for Health-on-Demand
The telemedicine industry is rapidly evolving. Experts estimate that the value of the telemedicine industry will be more than $64 billion by 2025.
What does this emphasize for your company? Patients worldwide can now obtain regular care and treatment because of the emergence of telehealth services.
Patients who are chronically ill or immobile do not have to leave their homes to obtain care. Medical experts can provide their services from anywhere using telemedicine.
Healthcare SaaS solutions, of course, complement telemedicine. SaaS technology allows healthcare organizations and patients to take advantage of modern telehealth services and gear.
- Improved Medical Professional Collaboration
It is fundamental for medical experts to work together. Healthcare organizations realize the need to improve cross-departmental collaboration and streamline processes.
Suppose medical staff had to go from department to department to gather lab results or tests and seek a second opinion in addition to their regular responsibilities. It would be stressful and time-consuming!
Within an institution, all doctors and medical workers must communicate swiftly. Coordination with professionals from various fields is also essential. Timely teamwork can help patients receive better care and perhaps save lives.
Collaboration with global medical specialists is critical in nations like Nigeria, where there are less than four medical practitioners per 10,000 people. Healthcare SaaS solutions come in, making collaboration easier and faster.
After the discussion, we have reached the point that organizations need to upgrade their existing systems and software to compete with the rapidly growing industry. SaaS is an easy and cheap model to adopt. It has numerous benefits that are helpful for the productivity of the enterprise.