As previously noted, the giants of technology are ramping up their healthcare efforts. Especially the ones not grounded in the healthcare industry. Let us consider big tech takes on healthcare.
Our most recent post on healthcare and technology involved Remote Monitoring of Patients Gaining Acceptance.
The Gigantic Four: Big Tech Takes on Healthcare
Here are highlights of Insider Intelligence’s report on this topic [Note: Access to the full report requires a $495 payment.]:
The Big Four tech companies are Alphabet, Amazon, Apple, and Microsoft. They are accelerating their pursuit of the healthcare market,, And they’re starting to hone their strategies in on specific corners of the ecosystem.
U.S. healthcare players are being forced to move on their digital transformation efforts. As a result, Alphabet, Amazon, Apple, and Microsoft will provide their data prowess and tech-savviness to become attractive partners for the job.
Healthcare organizations must contend with a population that’s growing sicker. Heightened costs. And shifting consumer demands for fast and convenient services. Further, the electronic health record (EHR) boom over the last decade ushered in the need for organizations to revamp infrastructure and IT strategies.
The Big Four stepped in to alleviate these issues. Thereby, bridging technological gaps that give health organization partners the opportunity to realize cost savings. As well as bolster their top lines. These players are reshaping healthcare. By developing and collaborating on new tools to benefit consumers, medical professionals, and insurers.
And they zero in on specific areas within healthcare: For instance, Microsoft dropped its consumer-facing wearables and health record system to narrow its focus on its cloud offerings for health systems. Apple is knuckling down on clinical research initiatives via its wearables, Alphabet is focusing on its AI expertise to drive precision medicine. And Amazon is reaching across the board — from pharmacy to medical supply delivery to telehealth. While their health plays present myriad opportunities for healthcare stakeholders, some of the tech giants’ initiatives encroach on legacy players’ businesses and upsetting incumbents.
Now, see the following chart to review a few attributes of the major players.