The Top Healthcare Software SaaS Companies
Even among healthcare and technology professionals, very few people know the fact that the healthcare software industry has become one of the rapidly growing industries of the world. It has already crossed the multi-billion-dollar mark and there is no looking back. It is estimated that the global healthcare software market will grow by 30%, reaching 32 bn USD by 2024.
Most of the healthcare software companies provide their services based on the SaaS (software as a service) model. In this model, the software provider hosts the applications and database on their own servers for a subscription fee, which can be accessed by the end-users through a web browser or a client application over the internet. In some cases, the software provider may contract a third-party vendor for hosting. Subscription fees are usually monthly or annual fees. In the SaaS model, unlike the traditional software development process, clients don’t have to purchase the necessary hardware to run the software on their own servers, and they don’t have to pay additional maintenance fees in case there is an upgrade. Upgrades can be instantaneously rolled out across multiple clients.
Let’s talk about the top companies in this industry.
Microsoft has gathered immense fame in international media with its famous Project Emma. Emma is a medical device designed to prevent the shaking of hands and arms in people suffering from Parkinson’s disease. Apart from this, the applications of this project in the medical industry are very diverse, and mostly on the software side, such that they have a multi-billion-dollar Medical, Health and Genomics research facility.
Apple is making inventions both in hardware and software, creating medical devices and patient-centered products.
Amazon is utilizing its expert base in areas ranging from supply chain logistics to medical applications. The company is also forming joint ventures to build healthcare software and technology solutions in order to provide its 647,000 employees and their families with cheaper and high-quality healthcare.
Using its Artificial Intelligence and big data innovations, Google is at the top of the industry, utilizing these technologies in all areas of healthcare from diagnosis to insurance.
These big fish dominate the industry but do not monopolize it. There are many smaller companies as well. A quick review of some of them is given here:
This software, based on 35 years of research, is a new and improvised SaaS solution that supplies healthcare personnel with a way to evaluate and support the most neglected segment in the healthcare field—family caregivers.
Madaket Health simplifies the registration and payment process for healthcare payer providers, as well as other transactions. Registrations are processed more efficiently and speedily with this company’s SaaS-model software than manual registration processes.
This firm claims that it has captured 28% of the United States EHR (Electronic Health Record) market. The state-of-the-art EMR (electronic medical record) system, as the name indicates, enables a wide range of functions including patient appointment, patient registration, and hospital revenue accounting.
Meditech has a 16% market share. Meditech has engineered an EHR solution that covers all aspects of hospital management including patient’s medical history and human resource management.