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The Impact Of Cloud Computing In Healthcare Industry

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Introduction

  • Cloud computing has become a relaible way to deliver enterprise applications as well as the preferred solution for companies improving their infrastructure. It refers to running workloads remotely over the internet in a commercial provider’s data center.
  • When it comes to medical billing services, adopting cloud computing solutions can enable its operations to become even more convenient and cost effective.
  • The cloud provides immediate computing by using the latest in technology to deploy, access and use networked information in relation to medical billing and medical coding. Unfortunately, it also has a complex infrastructure that could be difficult to understand.
  • In most cases, end users have found out that cloud computing is an appropriate choice for their healthcare business, as it is often less expensive than having multiple computers in various medical rooms. Each computer requires proper hardware, updated software and network accessibility to upload patient or other medical data.

Impact

  • Cloud computing has become very integral to medical billing companies. By 2022, the adoption of cloud technology has been increasing at a frenetic pace. The recent researches show that the global market for cloud technologies is likely to reach $35.0 billion.
  • So why has cloud computing has gained so much hype? The answer is simple. If before medical billing companies were simple service providers, they are true technology organizations that are based on their IT departments for clinical, administrative and financial functions.
  • As demands of patientschange and new payment models are made part of the equation, technology has become important to enhance patient care, drive efficiency and remove waste. Below are 6 ways the cloud computing has impacted the healthcare industry. We will study them one by one:

#1 Security

    1. One of the most common problems when we talk about the cloud is the security when we have all our apps and patient data in a third-party server. However if everything goes to plan, cloud servers help improve the security of healthcare providers.In the case of on-premises solutions, equipment failure would mean medical billing companies may lose all their data and applications they have created through the procedure of medical coding. This could state that a potential breach that companies can’t afford to risk.
    2. Cloud computing does not only enable its users to access the information remotely, as it involves automation of backups and disaster recovery options. As a result, medical insurance billers and coders do not lose any data and are able to reduce the downtime for their staff.
    3. Nowadays, most cloud providers in relation to medical billing offer security and monitoring services to protect its users from unauthorized access and breaches. It is all about analyzing the cloud service and what it gives.

#2 Cost

    1. Tight budgets is a challenge which companies across all industries are very much familiar with. In the case of medical billing services, third-fourth of the IT budget is used to maintain existing systems, leaving little or no room for innovation.
    2. As cloud computing works under a subscription model, medical insurance providers can save up money from purchasing expensive systems and equipment. By using a cloud server, medical billing companies can also minimize costs by using the resources the cloud provider offers.

#3 Scalability

    1. Unlike conventional self-hosted models, cloud computing provides medical billing specialists the flexibility to increase or reduce their data storage based on the patients’ flow.
    2. This way, companies can adapt their technology with the peak seasons. For example, the flu season where the volume of patients increases, without wasting time and money with the latest software updates.

#4 Storage of data

    1. Medical billing specialists must handle electronic medical records, patient portals, mobile apps and big data analytics. That is a lot of data to manage and analyze and not all in house equipment has the ability to store it.
    2. Cloud computing enables medical billing companies like MedcareMso to store all that data while ignoring external costs of maintaining physical servers.

#5 Machine Learning

    1. According to a latest Gartner report regarding the healthcare predictions for 2019, artificial intelligence is heading into mainstream healthcare operations.
    2. As more and more cloud platforms incorporate AI and ML into their medical billing services, cloud computing can support this transition and encourage users to manage large amounts of data.

#6 Collaboration

    1. With medical billing companies moving in the direction of value based care payment methods, collaboration between different medical specialists and departments is of the essence.
    2. Through a cloud computing server, medical billing specialists can exchange data which boosts collaboration for better treatment.

Conclusion

  • Opting for an appropriate technology provider is a decision that should be taken seriously. As we studied, security isn’t just a nice to have feature in correspondence to moving to the cloud. In fact, the US department of health is doing investigation upon 400 reported breaches of health information.

However, the opportunities of cloud computing are numerous. With proper safeguards, the fears in relation to data privacy and security managed by medical coding can be mitigated.

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