According to a study done by Gartner, the size of the cloud computing market is expected to reach $150 billion by 2013. Over 50% of the companies covered in the study cited business agility as the primary reason for shifting to cloud applications. Cloud computing allows organizations to share, maintain, and access their data, applications, and software from anywhere in the world with the help of the Internet. Not only does it save the organization the costs of installing and maintaining hardware and storage units, it also increases the agility quotient for any business. According to Gartner, 20% of companies will have no IT assets by 2012.

One industry slowly shifting its operations to cloud applications is the health care industry. With the enormous amounts of sales data collected and analyzed daily, the health care industry has recognized the need of cloud computing services for better inventory management, analyzing trends and patters, and also reducing cost of operations. Although the complete shift from traditional computing to cloud computing will take some time, one thing is sure – whenever it happens, it will transform the future economics of the health care industry.

How Cloud Computing will Impact the Health Care Industry

Cloud computing will help the health care industry utilize its data effectively to produce outstanding results and would also help curb expenditure to a large extent. Because cloud computing services are fully managed by the provider, health care providers would be saved the cost of deploying thousands of computers across different chains as well as managing and administering these networks. Here are some of the benefits that cloud computing will provide the health care industry.

Analyze trends: Cloud computing can help the health care industry analyze trends across various aspects of service delivery. Smaller organizations stand to benefit the most. Because service providers do not have the resources to capture and analyze data, large amounts of valuable information may be ignored. Using cloud computing, such data can be picked up from networks connected to these organizations. This can provide useful information to the health care providers and in turn help them improve their efficiency.
Inventory management: Most of the inventory management in health care organizations is a daunting task. Due to the large volumes and high usage rates, one needs to accurately predict stock outages. Using cloud computing, health care organizations can manage their inventory effectively and chalk out plans for proper management and availability of resources.
Reduced cost of operation: Rather than requiring dedicated hardware and storage units for managing their operations, health care providers can opt for cloud computing services at a much lower cost. Not only would they be saved the headache of managing and tracking individual systems, their operations would become more efficient and less costly.
Better business decisions: Cloud computing can provide real-time analysis of data, quickly and efficiently. The cloud service provider’s statistical models and resources will not only help the health care provider predict consumer behavior but also predict the industry trends. This will help the industry by bridging the gap between the health care providers and the consumers.

Cloud computing is sold on demand, allowing health care organizations flexibility to only pay for the services they require. Cloud computing technology will let organizations centralize their databases for better management which will not only help in proper analysis but also offer reliability. Cloud computing solutions will not only let the health care industry take giant leaps toward improving services but would also change the economics of the health care industry toward a more profitable and managed future.