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If you look at different organizations across industries, you would be hard-pressed to find one that doesn’t use even a single SaaS product. The scalability, accessibility, and cost-effectiveness of SaaS solutions have made them an integral part of most organizations’ tech stacks. Healthcare companies are no exemption. In fact, SaaS is now dominating the healthcare industry, and this high demand will continue throughout 2022.
To capitalize on the growth of SaaS healthcare, developers can leverage three important trends. First is the increasing need for healthcare providers to store, analyze, and secure processes and essential healthcare data. SaaS companies, therefore, need to be able to keep up with this demand by ensuring they have the resources and technical infrastructure to efficiently manage the application lifecycle—from designing/coding, testing, deploying, and updating their apps.
Second is the growing concern over app security. Healthcare companies not only rely on the integrity of their data to provide quality services and products but also to maintain the trust of their patients/clients. Cloud-based software face security vulnerabilities and attacks on the healthcare sector are a top cybersecurity concern.
Third is the increasing use of artificial intelligence and machine learning to improve the healthcare industry. SaaS companies that want to deliver excellent tools and establish their place in the market should increase their stakes in AI and ML technologies and develop AI-optimized apps that provide innovative solutions to increase efficiency, improve patient services, and support human capabilities in the healthcare sector.
AI and ML have impressive use cases in the field of healthcare. For instance, automation found in most customer service applications used by healthcare companies rely on AI and ML-powered features. Natural Language Processing (NLP) detects human voice and speech patterns, which are useful in assisting patients and improving personalization. AI is also crucial to security, particularly in identifying threats in an organization’s system and executing essential data recovery during emergencies.
High Demand for SaaS in Healthcare Will Continue
By 2028, healthcare software-as-a-service is projected to reach $152 billion. This is all thanks to the growing adoption by healthcare providers of SaaS technology into their EHR systems, remote patient monitoring systems, population health management, PACS, clinical information systems, supply chain management, revenue cycle management, analytics, and archiving, among others.
Moreover, the COVID-19 pandemic continues to push more healthcare companies to increase their spending on healthcare IT. These include tools for telemedicine, healthcare CRM and ERP systems, mobile health apps, and patient-facing web—all of which will contribute to the increased demand for SaaS applications in this industry. A survey of healthcare organizations revealed that 32% adopted SaaS to modernize their IT system, while 27% were after the flexibility SaaS products provided, and 26% used SaaS to drive innovation and gain competitive advantage.
But SaaS healthcare solutions are not only for healthcare companies’ benefit. Patients and clients also enjoy faster and more convenient services from healthcare providers when using SaaS products. Customer-facing SaaS solutions are used for activities such as patient booking, precision medicine, communication, and increased hospital visibility and accessibility to the patient population. All these benefits for healthcare companies and the patients they serve are really what’s driving the growth of the SaaS healthcare market.
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