The aging demographic alone is not the only factor that is promoting high tech firms to jump into the healthcare circle.
Along with this are the market opportunities that were created by the Affordable Care Act. In addition to these is the growing investor enthusiasm for software solution (expected to possibly solve some of healthcare’s more serious issues). All three of these factors have enticed huge tech companies to join the healthcare IT market.
Bob Kocher, an MD from Palo Alto says, “There’s no question that the interest of these tech companies is a good thing because it draws more attention, creativity and resources to healthcare.”
Over the last five years, huge tech companies such as Google, Intel, IBM, and Apple have set their goal to be roughly $40 billion in the healthcare IT market. These companies are also joining a proliferation of Silicon Valley startups that are developing new products to help achieve the “Triple Aim” of better care, improved outcomes, and lower costs.
Did you know that since the ACA, 17 million Americans have gained insurance coverage? This was a crucial time for retiring Baby Boomers that were demanding for healthcare services more than ever. The opportunities that are rising in the healthcare market are tremendous and certainly are here to stay.