Andrea Alms Video: Money In Motion Episode 4 - The Healthcare Cloud Market

TRANSCRIPT:

Hello. My name is Andrea Alms and I am a health care investor. Financial manager and this is your money in motion. I was asked about health care. Cloud computing. What is cloud computing? In simple terms, simply put, cloud computing is a delivery of computer services, including server storage, database, network, software, analytics, intelligence over the Internet, the cloud to offer faster innovation and economy skills. What is cloud computing care? It is described as the practice of implementing remote server access via the internet to store, manage and process health care data. This is in contrast establishing an onsite data center with servers or hosting the data on your personal computer. The global market is valued at 29 billion in 2020 and expected to witness around 13.4 compound average growth rate from 2021 to 2027. Why was rising adoption of digital technologies among healthcare professionals to escalating patient population suffering through various diseases leads to higher demand for efficient data management tools. Three, Health Care Cloud Computing offers easy access to patient information through secure networks for increasing acceptance of these technologies, encourage safer data sharing and remote collaboration. And four, there is a shift in healthcare industry towards information centric models, which enables efficient information sharing and streamlined collaboration. So finally, such online support and data automation storage streamlines treatment and causes and creates a tremendous growth opportunity for the market. But what about the end users? The end user segment accounts for the hospital 22% of healthcare cloud computing share by 2027, a growing number of hospital admissions, adaptation of technology advance products, sophisticated healthcare infrastructure and some of the factors favoring this demand. Moreover, hospitals are early adopters among all organizations. Large scale operation of multi-functional management, of large amount of information. Cost cutting is the foremost aspect. What are the usual or who are the usual suspects? The strong position leaders are, as you can see, Cisco, Amazon, Allscripts, Healthcare, Plexus Care, Cloud, Siemens, Oracle, Clear Data, Cirrus, Microsoft and Dell. These industry participants operating in health care are undertaking different growth strategies to sustain their market position. For example, a recent development in 2020, care cloud was acquired by MTBC, a health care I.T. company. This acquisition offered its customers several ways to improve patient outcome, increase practice profitability, and streamline physician workflow. This strategy helped the company to attract a larger customer base. So what's not to like about the health care cloud computing space? Multibillion dollar, double digit growth. And of course, health care is by definition a social good. Thank you. This is your money, your money in motion.