A Details Guide On Saas For Healthcare Industry

• By Maverick Jones
• 06-12-2022
• Technology

Healthcare SaaS is a rapidly growing market. In the last year, the SaaS market has increased by 24% and is expected to grow at a CAGR of more than 15% during 2017-2021. The growth of this industry can be attributed to the fact that healthcare providers are investing heavily in technology and innovation, which has led to high demand for new products and services.

It is important to understand how healthcare SaaS can benefit your business, you must also know how to leverage it for your business at the same time comply with HIPAA too. And most of all, you must also keep an eye on the latest trends so you can easily capitalize on them. So, without any further ado, let's get started.

Advantages of SaaS in the Healthcare Industry

Scalability

It's the ability to adjust your solutions to the requirements of your business with ease. This means that if an organization has more work to do, then it can easily add more users to its existing system without having to invest in additional hardware or software.

Cost-effective

The cost of SaaS is much less than that of traditional software solutions which makes it a very cost-effective solution for healthcare organizations.

Easy integration

As a cloud-based solution, SaaS integrates easily with other systems such as ERP or CRM so that you can have better visibility into your business operations and operations management activities.

Flexibility

The SaaS model allows healthcare organizations to adapt quickly to changes in their business requirements. This helps them stay competitive and remain relevant in today’s market.

Control

SaaS solutions allow organizations to manage their IT services with minimal overhead costs by controlling all aspects of delivery from development through deployment and maintenance.

Reduced dependency on infrastructure

A majority of healthcare organizations rely on their servers and database servers. However, they often face issues while managing these resources as they are not scalable and dependable. Using cloud-based solutions can also save up a lot of money for you as you don't have to invest in any kind of software or hardware. This means you don't have to rent or own a place to set up the infrastructure. This could save you a lot of trouble.

Checklist for HIPAA Compliance

Every industry has its own set of regulations to follow. The healthcare industry has the Health Insurance Portability and Accountability Act of 1996 (HIPAA). This law is enforced to protect all the data related to healthcare services providers, their patients, and other related information.

The first and most important step in HIPAA compliance is to ensure that all healthcare providers clearly understand the policy and procedures to manage Protected Health Information (PHI).

This includes the employee handbook, job descriptions, confidentiality statements, and training materials.

To comply with HIPAA, healthcare providers must also adhere to other state laws such as those governing medical records retention. These laws may require different lengths of time before records can be destroyed or disposed of; this is known as the medical record retention period.

In addition to compliance with state laws regarding medical record retention, healthcare providers must also comply with HIPAA standards set by the Federal Health Information Technology Policy (HIT Policy). The HIT Policy outlines what is covered under HIPAA and how it should be implemented within your organization.

Latest trends in Healthcare SaaS

Integration in the existing system

A major trend that's starting to emerge in healthcare SaaS is the shift from productized software solutions to fully integrated platforms. In general, these platforms are designed to provide end users with a single point of access for all their information needs. This means that users don't have to go through different interfaces if they want to find out about different features or services offered by your company.

Cloud Solutions

Another trend that's emerging in healthcare SaaS is the transition from on-premise solutions to cloud-based offerings. The cloud has become an increasingly popular solution for many businesses because it allows them to scale up their operations without having to worry about hardware or software maintenance costs

Big Data

Healthcare big data has become an important tool for healthcare organizations as they strive to improve patient outcomes while reducing costs associated with healthcare delivery. Big data helps organizations identify gaps in care or areas where there could be improved based on actual outcomes rather than assumptions about patient outcomes based on historical data or other factors such as age

Conclusion

Healthcare SaaS finds its use in healthcare providers. Hospitals and clinics across the world are making better use of available tools & resources to maintain a competitive edge. Healthcare SaaS solutions come with enhanced features that help in tracking patient records, ensuring improved communication, sharing reports across many users, and much more.

The number of SaaS solutions available in the healthcare industry is sufficient to meet a wide array of needs and budgets. These platforms are designed to create transparency in insurance-related dealings, which is an attractive feature for hospitals, doctors, and other healthcare practitioners.