Sponsored The healthcare industry is transforming. The growth of health-focused IoT devices and wearables, increasing healthcare data breaches, and adoption of telemedicine, clinical informatics and mobile initiatives have led many healthcare providers to increase IT budgets. Automating and integrating disparate clinical systems to help staff improve efficiency is a key challenge.
The IoT devices and other digital initiatives are generating a deluge of data. The global healthcare data storage market is expected to reach US$9.3 billion by 2027, growing at a CAGR of 16.2% from $2.4 billion in 2018. Use of wearable fitness and health technologies has more than tripled in the last four years, according to research from Insider Intelligence.
Globally, healthcare provider expenditure is projected to rise by 5.4 percent annually through 2022. In establishing operational efficiencies, C-suite decision-makers have to leverage technology to not only boost cost savings but also address the challenges of physician burnout and clinical staffing shortages.