Frost & Sullivan Uncovers How Healthcare Providers Can Achieve Better and More Cost-Effective Care Using IT Solutions
— The healthcare industry can offer efficient customer care and communication through the use of cloud-based data storage solutions.
MOUNTAIN VIEW, Calif., March 31, 2015 /PRNewswire/ — The Affordable Care Act along with the intense pressure to reduce healthcare costs has affected the state of the healthcare system, leaving an open door of opportunity for the IT Industry. Healthcare reform is driving a shift towards Accountable Care Organizations (ACOs), wherein the industry will adopt an outcome-based versus procedure-based focus and reimbursement model.
ACOs are investing in products and technologies to meet the healthcare industry’s needs through various kinds of partnerships. There are substantial opportunities in mHealth, as patients increasingly use mobile apps to access and send information on their health, make appointments, and communicate with their healthcare provider, as well as track their wellness and fitness.
New analysis from Frost & Sullivan, The Future of IT in the Healthcare Industry in North America, Latin America, and Europe, finds that integrated delivery network (IDN) providers must continue to invest in IT solutions and infrastructure to meet the needs of delivery practices and information utilization.
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"By providing use cases and demonstrating ROI, the IT industry can expand the scaled use of mobile and remote technology solutions as part of care delivery and patient/provider workflows," said Frost & Sullivan Customer Research Director Tonya Fowler. "IT solutions can have a huge impact on the bottom line by enabling shared information across an organization."
The traditional paradigm of patient-centric care is gradually giving way to member engagement and empowerment, which in turn, has opened up opportunities for healthcare providers in the untapped health and wellness sector. Many competitors have already begun to lay the ground work with investments in staff, resources, and targeted acquisitions.
Meanwhile, device manufacturers seek to retain clients with cutting-edge customer care technologies that generate timely and effective results. The big data trend is pivotal and numerous IT vendors have responded by developing cloud-based solutions for the healthcare industry.
The amount of big data needed to provide better and more cost-effective care is best handled in the cloud. The capacity, flexibility, and pricing models presented by cloud service providers resonate well with the healthcare industry.
"Furthermore, the adoption of Health Insurance Portability and Accountability Act (HIPAA)-compliant cloud solutions for data storage and archiving is expanding. Applications in the cloud that support collaboration as well as anytime, anywhere, and any-device needs are growing quickly," noted Fowler. "Niche healthcare cloud service providers will emerge as top contenders in the market, followed by cloud computing vendors that design solutions for healthcare."
The Future of IT in the Healthcare Industry in North America, Latin America, and Europe is part of the Vertical Markets in ICT (http://www.ict.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Big Data Study 2014, Healthcare IT Trends in Brazil, Top 10 ICT Trends for Africa in 2015, 2014 Latin America Cloud Computing Market, and Profiling the Back Office Workforce Optimization Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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The Future of IT in the Healthcare Industry in North America, Latin America, and Europe
Corporate Communications – North America