Health service providers are increasingly turning to large technology companies to facilitate the transformation in the provision of care and reduce medical and management expenses. The reason is the enormous potential of digital health initiatives led by technology companies to help healthcare providers offer safer, more efficient and more cost-effective care. The collection, analysis and application of patient data can minimize the unnecessary use of certain services and promote patient independence, which can alleviate the generalized cost of the healthcare industry.
The four major technology companies – Google (Alphabet), Amazon, Apple and Microsoft – have found in the health ecosystem a great opportunity to expand their business, and are increasing their efforts to reform health care through the development and collaboration on new tools for consumers, medical professionals and insurers.
In the report The Big Tech in Healthcare Report, Business Insider Intelligence explores the strengths and key contributions that the four technological giants can make to the health industry, as well as their approaches to enter this market. It also explores how these services and solutions are creating opportunities for health systems and insurers around the world.
How Google, Amazon, Apple and Microsoft are revolutionizing the healthcare industry
These are some of the important information about the report:
- The experience of technology companies in data management and analysis, together with their enormous calculation capacity, can help insurers, public and private health systems and consumers by providing a broader vision of how to access information.
- Each of the four large technology companies, which compete for part of the lucrative health market, focuses on a specific field based on their previous experience, to develop tools and solutions for consumers, suppliers and insurers.
- Alphabet focuses on leveraging its domain in data storage and analysis to become the leader in population health.
- Amazon relies on its experience as a distribution platform for medical supplies and develops its AI assistant Alexa as access to home health.
- Apple is converting its consumer products, especially its smartphones and wearables, into mobile health centers for its users./li>
- Microsoft is focusing on the storage and analysis of data in the cloud to improve the effectiveness of the sector.
All companies that are part of the health ecosystem can take advantage of the opportunity offered by the entry of technology in the field of health, collaborating with technological giants to achieve cost savings and strengthen their main lines of business. For this reason, it is crucial to understand how each technology giant is approaching health care.