Demand for digital health technology is on the rise – and fast.
For one, according to Health Tech Magazine, “Digital transformation can mean an improved patient experience, reduced clinician burnout, better health outcomes and lower costs.”
Two, according to an Accenture Digital Health Technology Vision 2021 report, “Research found that to achieve meaningful digital transformation; healthcare leaders must acknowledge that business and technology strategies are increasingly becoming one. The good news is that most healthcare executives agree, with 87% of them saying that their organization’s business and technology strategies are becoming inseparable.”
That’s a big positive for companies such as AI/ML Innovations (CSE:AIML)(OTC:AIMLF), WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF), CloudMD Software & Services Inc. (TSXV:DOC)(OTC:DOCRF), Cerner Corporation (NASDAQ:CERN), and NextGen Healthcare (NASDAQ:NXGN).
Even better, by 2024, the digital health market could be worth more than $379 billion. They added, “The world digital health market has been prophesied to gain a strong impetus due to the surging adoption of IT in the healthcare industry and growing count of government initiatives in favor of healthcare providers and also patients. The rapid improvement of healthcare IT infrastructure and rising usage of mobile platforms such as tablets and smartphones could bode well for the market.”