A research study found that health care spending across the globe is likely to register an annual growth of 4.1 percent between 2017-2021. The industry had an annual growth rate of just 1.3 percent between 2012 and 2016.
So, as the industry dives headfirst into an era of growth driven by factors such as growing populations, the evolution of developing countries, increase in labor costs, progress in the medical field, and more that companies operating in this space need a robust tool to help them navigate this phase. As the sector jogs into a data-driven environment — an environment where healthcare businesses have the opportunity to leverage data to enhance their patients’ safety, achieve improved visibility into the financial operations of the company, and ensure compliance with the requisite rules and regulations among so many other things.
Author: Mrunal Chokshi