Cloud Technology Set To Affect The Life Science Industry
Due to a number of factors, life sciences companies are joining the world of high technology. That means that health and technology companies are moving many of their records and processes to cloud technology. Most are moving for financial reasons, but many companies say that using cloud technology makes it easier to manage their businesses, as well as comply with the ever growing list of government regulation that those in the life sciences industry have to deal with. This year, an estimated one third of all budgets in the life sciences industry will go to cloud technology, which is an accelerated adoption process for a normally conservative industry.
One of the big reasons that life sciences companies are making the switch is that it makes it easier to be government compliant with cloud technology. Many health regulations state that companies must keep records on drugs and patients for as long as a decade, and filing and maintenance can be quite costly. Those costs are greatly reduced when switching to cloud technology, but it also makes it easier and fastest to retrieve the files and documents that those companies need to carry. Government fines can cost millions and set companies back on valuable time, so any process that makes them more avoidable is likely to be embraced by the industry.
As health systems become more efficient and more reliant on cloud industries, there is likely to be an uptick in investment in both. Both industries are likely to continue to see growth, especially with the continued expansion and growing need for health services in the United States, where aging patients with means have a continued need for healthcare. Cloud industries have been working with health companies to find more ways to automate processes, which could potentially make these companies even more efficient.
Source:
http://medcitynews.com/2013/12/report-cloud-technology-claims-one-third-life-science-industry-companies-budgets-2014/