Technology has stepped into almost each and every industry. Technology makes our life easier and simpler. It helps us in efficiently managing tasks. Technology has touched almost every field, from logistics, entertainment, and law, to catering, etc. The healthcare industry is not far away from its touch either.
The healthcare industry is quick to realize the importance of technology. Industries are embracing technology as well as the advancement in technology. We are residing in a cut-throat competitive world, to which technology gives that much-needed edge. Technology is known to reshape the working of industries. Healthcare industries use technology to not only reduce their workload but also to accelerate their performance. Healthcare application development is one of the important solutions.
According to a survey, the market will grow at a CAGR of 5.8 percent to reach $19.3 billion by 2025. Unsurprisingly, the segment is enormous, commanding a huge market share of close to 31 percent.
Developing effective healthcare software solutions is different from the process of developing traditional software. An effective healthcare software solution requires an in-depth analysis, understanding, and implementation of technology. The demand for healthcare application development is increasing with each passing day. Get a deeper insight into it below:
What Is Traditional Software Development?
Traditional software development refers to the software development process in which simple software is designed. This development process is used when integrating advanced technology is not important. It provides simple solutions and not dynamic solutions. It is great for beginners.
What Are Effective Healthcare Software Solutions?
Effective healthcare software solutions refer to developing dynamic solutions intact with all advanced technology. The healthcare industry is quick to adopt advanced technology with the help of healthcare software development. With effective healthcare software solutions, it is possible to deliver better care to patients. A report says that the market value of healthcare software is projected to reach around $29.9 billion by 2023, with a CAGR of 7.4% from 2018 to 2023.
The integration of IT and healthcare has paved the way for robust treatment. It automates many processes. Effective healthcare software is usually of the following types:
● Medical Practice Management Software: According to a survey, the Medical Practice Management Software (MPMS) market is expected to grow at a CAGR of over 8% through 2021. The global practice management software market is projected to grow at a CAGR of 9.7% between 2013 and 2023. MPMS helps medical professionals to track patient information and payment details. Patient information and medical details are stored electronically, which helps in tracking patient health. It is easier to get access to patients’ data for medical professionals, and patients do not have to worry about keeping prescriptions safely. This has spiked the demand for healthcare software development.
● Electronic Health Recording Software: This software contains detailed patient information that comprises their medical history, allergies, laboratories result, demographics, and more. As per a survey, the total global EHR market is predicted to be worth some $40 billion in 2024. This helps in better and efficient data management. Electronic healthcare record software cuts additional paper costs, as well as improves patient care. A mobile app development company has been providing such healthcare solutions.
● E-Prescribing Software: It facilitates patients to share prescriptions directly with pharmaceuticals electronically. As per Statista, in 2017, 77% of all prescriptions were e-prescriptions. The global e-prescribing market is expected to grow rapidly at a CAGR of about 19% from 2018 to 2023 and is estimated to exceed more than $15 billion by 2022. These prescriptions are clear and easy to understand, unlike hard copies. It helps to provide better feedback. It allows all-time access to patient details to medical professionals, thereby helping in enhancing a patient’s care.
● Hospital Management Software: Thus software handles all patient details, medical staff details, and billing details. It tremendously helps to improve efficiency and management. It aims to manage each and every aspect of hospital administration. It reduces workload and allows medical professionals to impart more time to patient care. According to a report by Transparency Market Research, the global hospital management software market is expected to grow at a CAGR of 12.0 percent between 2018 and 2026. A mobile app development company can help you with building such apps.
● Urgent Care Apps: Urgent care apps will help a patient to track their health and know when it is urgent to consult a doctor. It also helps a patient to skip the waiting room and directly consult a doctor in case of an emergency. It has live video sessions that can help a patient to connect to a doctor and share their details with them. It makes the healthcare business accessible 24/7 irrespective of locations. It helps to make the service scalable as patients can reach out to a doctor from anywhere. As per a survey, the global demand for urgent care apps is expected to generate a revenue of around $2,515.1 million by 2023, growing at a CAGR of 41.3 percent between 2018 and 2023.
Next-Gen Technologies That Are Being Used To Create Effective Healthcare Software Solutions
● Artificial Intelligence: The healthcare industry is quickest to adopt AI and Machine Learning. AI is immensely used in healthcare as it gives human-like solutions and helps in developing highly efficient tools. Healthcare IT solutions are quickly being adopted by patients as well as medical professionals.
● Virtual Reality/Augmented Reality: VR helps in better diagnosis as well as assists medical professionals in surgeries. AR helps in engaging patients and providing a rich experience.
● Cloud Solutions: Cloud solutions help to store large chunks of data in a single place and allow access to it anywhere, anytime, provided internet connection should be there. A doctor can check patient details whenever required.
● Internet Of Medical Things: IoMT is the integration of medical devices and software applications with the internet. IoMT is being highly used because of its wider results. It helps to provide a more accurate diagnosis. As per a report, the global IoMT market was valued at $44.5 billion in 2018 and is expected to grow to $254.2 billion by 2026.
With the increasing demand for advanced technology, we can clearly depict the impact of effective healthcare solutions. It is entirely different from traditional software development where the solution is limited. Healthcare IT solutions help in reshaping the healthcare industry.