IT is often too narrowly defined as the systems, such as Microsoft SharePoint, business process automation and cloud computing infrastructure, which help to make corporate business enterprises more efficient. Yet, in reality, these systems are used in arenas far and wide; in particular, they are being leveraged more and more by healthcare providers and hospitals. As a result, IT, specifically cloud computing technology, is booming in the healthcare industry.

In fact, the global healthcare cloud computing market is expected to grow by a compound annual growth rate (CAGR) or 21.95 percent between now and 2019.

While there are a number of factors that have contributed to this tech boom in the healthcare industry, let’s look at three of the biggest catalysts:

  1. Healthcare IT is advancing: Not only are technological advances making healthcare equipment less expensive and more accessible, but hospitals and other healthcare providers alike are finding use for new systems, such as workforce optimization technology, that can help them become more efficient with scheduling and process automation. These systems, however, are generating massive amounts of data and all of that data needs to be stored.
  2. Cloud storage is more cost-effective: Data storage can be an expensive endeavor for healthcare providers and is causing them to opt for cloud computing solutions that will move the storage function off-site. In doing so, hospitals are avoiding the costs of building and maintaining in-house infrastructure, which has helped offset the often high initial investment in cloud computing technologies.
  3. Cost savings are being reinvested: The budget dollars hospitals and healthcare providers save by moving to the cloud—and storing their data there as well—are being reinvested into other cloud-based technologies. This, in turn, helps healthcare professionals gain access to technologies that would normally be too expensive to keep in-house and, given their access to new technology, is helping them provide a higher quality of care.

As you can see, the growth of cloud computing in the healthcare industry comes from a compound effect. Healthcare providers are using IT to become more efficient and as a result they are saving money that can be used to invest in newer cloud technologies that ultimately lead to a rise in quality of care, as doctors have newer and better tools at their disposal. To learn more about how you can leverage cloud computing and other IT solutions, click here.