Healthcare SaaS Market Holds $51 Billion Potential
Increasingly critical for its ability to drive better patient outcomes and for its ease of use by clinicians, healthcare software as a service is on the verge of a market push. According to a recent report by Grand View Research, the healthcare SaaS market will reach over $50 billion by 2028, growing at a CAGR of 19.5%. The mainstreaming of cloud computing in the healthcare industry is seen as the main driver behind this optimistic but entirely plausible projection.
The growing popularity of SaaS across multiple industries – it’s now the largest service segment in the cloud space – may make this inevitable, but its capabilities in healthcare are a particular game-changer. Streamlining electronic health records (EHRs), clinical information, and remote patient monitoring systems is invaluable not only to health accountants, but also to patients and their providers, as the ultimate goal is to improve health prospects. Nevertheless, the benefits that SaaS can bring to budgeting, including increased flexibility, better return on investment, sharper competitive advantage, and reduced software deployment costs, are what really help to understand the monumental potential of the market. .
COVID-19 has also played a role in driving the SaaS healthcare takeover; Adoption of SaaS-based telemedicine, CRM/ERP systems and mobile health applications has reached an all-time high amid the pandemic. CloudHospital, for example, mixed various SaaS services last November to meet increased demand from hospitals and clinics. He has since found a new level of success in managing traffic, patient bookings and overall communication, while leveraging more substantial contributions to hospital visibility and accessibility.