Many industries are becoming more data-driven. The healthcare industry in particular is reaping the benefits of leveraging data to improve healthcare services. In fact, the entire HealthTech industry has sprung up around the desire to find innovative ways to manage and leverage large volumes of data. However, questions remain: how do HealthTech companies manage all of the information they are generating? How do they ensure that it is readily available to their customers? In this article, we will discuss how many industry players are evaluating alternative methods of data storage – such as cloud and composable storage – to accommodate their evolving needs.
The Innovative Possibilities of the HealthTech Industry
There are a number of trends happening right now that are severely affecting the healthcare industry. The aging Baby Boomer population, coupled with the rise of diseases triggered by the modern lifestyle, are increasing the demands for higher quality healthcare. Meanwhile, healthcare providers are increasingly pressured to maintain costs. The clash of these two forces of improved care for lower costs is causing the industry to look away from traditional practices and explore other options.
This has led to a new technology industry focused exclusively on leveraging smart, connected devices and data analytics in healthcare. These HealthTech organizations are improving healthcare for patients and providers by enabling data-driven decisions and improving automation of manual tasks. Some examples of the work that HealthTech players have undertaken include:
- Precision Medicine– Leveraging the power of artificial intelligence and genomic sequencing, HealthTech start-ups are able to personalize medical treatments for cancer patients. With treatments specialized on the needs of each patient’s diagnosis, doctors can help patients dramatically improve their chance of survival.
- Telemedicine– Through smart, connected devices, doctors can monitor a patient’s condition and give real-time support… all without setting up an appointment. Remote monitoring allows doctors to get the inside scoop on how patients are really doing – something they don’t typically get with regularly booked appointments.
- Administration—HealthTech companies are creating apps that make it easier to schedule appointments, file medical claims, and retrieve medical records. By minimizing the burden of administrative tasks, providers can return their primary focus to patient care.
What Do We Do with All That Data?
With this increased dependence on data comes an increased need for better data storage and management. HealthTech organizations need to ensure that providers and patients can quickly access and leverage the information that they need. In the healthcare industry, any delay can be a matter of life and death (not many other industries can say that and literally mean it).
Vendors in other industries are rapidly adopting public cloud storage. Public cloud offers flexibility and agility that isn’t available through traditional storage. However, HealthTech companies may have some reservations about storing data on the cloud. By utilizing public cloud storage, HealthTech companies relinquish control of their storage’s performance, data availability, and security
Opting for Composable Storage
Composable storage offers the flexibility and agility of cloud storage and the dedication and control of an on-premises solution. A HealthTech organization can easily improve performance for its healthcare provider customers during the busy cold and flu season. Alternatively, if a company rapidly acquires new customers, they’re able to quickly increase capacity to integrate these new users. It’s the best of both worlds: a cloud-like technology experience on an on-prem datacenter.
Ready to learn more about how the right storage strategy can lead to HealthTech success? Click here to download the ebook, “5 Reasons HealthTech Executives Need to Care about Storage Strategy”.