Why The Medical Industry Is The Next Big Market For Tech Companies

IT and tech companies are some of the fastest growing in the world right now. Consumer electronics make up a large section of the tech market but in recent years they’ve started to branch out. One of the new areas that tech companies are beginning to supply is the medical industry. It’s no secret that there’s a lot of money to made in medicine and the tech industry are taking their slice of the pie. But why have they decided to move into the medical industry in such a big way?

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Innovation

Innovation in the medical industry is one of the biggest driving forces behind this new relationship with tech companies. Overemployment and a fall in productivity are two of the biggest challenges that the medical industry faces at the moment and they’re increasingly turning to technology to solve those issues.

New equipment is one way that technology is having an impact in medical fields all across the globe. Life support machines and other monitoring equipment are fast removing the need for constant human supervision. There is also an increasing demand for respirators, imaging devices like X-ray and ultrasound machines so, for example, a manufacturer of membrane keyboards that makes the interfaces for a lot of this equipment is going to find an abundance of work in the medical industry, as are the companies that design and manufacture the equipment itself.

Artificial intelligence systems that can diagnose patients are set to be the next big thing in health care. They’re currently under development and they’ll soon be widespread. When that happens, the tech companies that are making them stand to make a lot of money.

Streamlining

During the recession, jobs fell in almost all industries but in healthcare, they actually increased. This was good in some senses but it also highlighted the fact that there was a big problem with overemployment. Too many of the employees were taking on workloads that simply didn’t fit into their working days. Since realizing that they are overworking thousands of employees, medical companies have started to streamline their operations.

A huge amount of the admin roles are going to be obsolete because new software will be able to do it all automatically. The medical industry is introducing so many new IT systems so there is a huge amount of work going for tech companies. It’s worth contacting any local practices and seeing whether they have any need for your services.

Electronic Records

In 2009 the government introduced a $25 billion investment program to encourage the medical industry to digitise all of their records. Paper records are easily lost and damaged and it’s a pain to organize and search them. Electronic records don’t have any of those issues so it makes sense that the government want them digitized and stored in the cloud. They’re offering the money to do it but they aren’t providing the resources to carry out the work. That’s up to you. All of that work digitizing the records and creating a new database is up for grabs and it’s likely to be a fairly long project.

If you’re in the tech industry and you’re looking for your next big venture, medical companies are the way to go.