Is The Future of Healthcare Up in the Cloud?

Image by Gerd Altmann from Pixabay

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Humanity has undoubtedly accelerated in the age of information as scientists, doctors, and researchers have worked tirelessly to advance the healthcare industry as a whole. We have found cures, developed vaccines, and created new treatments for otherwise terminal diseases, enhancing our quality of life in astronomical ways.

However, a surprising amount of the nuts and bolts of the industry have remained stuck in a flurry of physical paperwork, possibly costing billions of dollars and patients’ time as their medical records are sorted through. What if there was a better solution for hospitals, doctor’s offices and other health providers to store, analyze and process the life-saving data in the same progressive manner as their external accomplishments?

One company, Healthcare Triangle Inc. HCTI aims to do just that by helping companies and organizations move toward a cloud-based digital future that mirrors the rapid progress the industry has made in recent years. Cloud-based refers to a service that can store much more data than a physical server, backing up and maintaining crucial health records for millions of patients and providers.

Healthcare Triangle says its product CloudEz is a Health Information Trust Alliance (HITRUST)-certified, secure cloud platform that is a pay-as-you-go service for your healthcare IT needs. You can build your own individualized framework using the built-in security and compliance controls so that your business is covered from every angle.

The healthcare cloud-based market is projected to reach $64.7 billion by 2025 and much of it is going online. According to Gartner Inc. IT, by 2022 nearly 30% of outpatient care will be digital, and the demand for the natural language processing market — artificial intelligence (AI) tools to extract crucial information from medical records and reports — is expected to grow to $3.7 billion by 2023. 

Healthcare Triangle’s Chief Technology Officer Sudish Mogli stated that for any healthcare organization trying to achieve the total digital transformation (like automation), the cloud is the “best place to implement artificial intelligence, machine learning, and robotic process automation.”

However, there are a few barriers on the horizon. While many healthcare companies say they are taking a hybrid approach to the cloud to ease their way into the concept, there are concerns around cybersecurity with public versus private cloud because of privacy laws. Compatibility issues when multiple cloud providers are used also can cause compliance problems. In addition, organizations must engage staff that can smoothly transition their operations to the cloud, and of course, there are fees involved.

It is worth it when you have a company that can fix these barriers, according to Healthcare Triangle. A managed cloud services approach like the one Healthcare Triangle provides might help organizations optimize cloud performance, decrease cost and enhance security and compliance. By 2022 Gartner predicts around 90% of data analytics and innovation could occur in the public cloud — and many organizations do not want to miss out on this.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.