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Healthcare, Healthcare Software Development, Telehealth App Development,
Telemedicine App Development


HOW HEALTHCARE SOFTWARE DEVELOPMENT CAN BOOST ROI?

Read hear the factors of healthcare software development uplifting ROI of
healthcare organizations.

Written by Emorphis Technologies Jun 17 · 6 min read >



INTRODUCTION

One of the recent research reports from Accenture indicates nearly 93% of
healthcare organizations are transforming & actively implementing digital
solutions. Healthcare providers are getting acquainted with trending and
innovative technologies from AI to IoT devices. It is an attempt to improve
medical practices and boost their competencies.  With the assistance of
healthcare software and applications, healthcare providers are gaining insights
into better care delivery and management. However, a critical aspect of the
digital transformation in healthcare is the return on investment for healthcare
software development.  

See Contents hide
1 Introduction
2 What is ROI on Healthcare Software Development?
3 Challenges With ROI For Healthcare Software Development
4 How To Improve Healthcare Software Project ROI?
5 Choosing Healthcare Software Development Company
6 Conclusion


DIGITAL HEALTHCARE ON THE RISE

As the pandemic brought many changes in our daily lives, it has also changed the
consumer’s (patient’s) expectation of easily accessible, convenient, and safe
healthcare services. It has also skyrocketed the need for healthcare software
solutions and medical platforms. This is where the caregivers or healthcare
providers had to decide on investing in healthcare software and achieving better
returns.  

As the patients and providers are more interested in digital healthcare, there
has been a sudden rise in demand for the healthcare technology, and there has
been a massive investment. IQVIA & statista.com reports a 135% increase in
healthcare application downloads, and more than 90,000 new healthcare software
applications entered the global market.  

These statistics indicate the interest of healthcare professionals, patients,
and caregivers in innovation and hence the need for healthcare software
development. 


WHAT IS ROI ON HEALTHCARE SOFTWARE DEVELOPMENT? 

ROI for healthcare software development is totally different from the general
perspective that 100% of sales growth is attributed to marketing efforts.
However, for the healthcare software development industry, which involves a long
buying cycle, the decrease in operating costs and long-term sustainability
contribute to improvement in ROI.  

Considering the present digital scenario, healthcare organizations must have
software development processes or outsourcing strategies in place to benefit
cross-functional team collaboration and improve the teams’ productivity. 

Almost every organization adopting a cloud-first approach, healthcare providers
aim to invest in next-gen healthcare software development. 


CHALLENGES WITH ROI FOR HEALTHCARE SOFTWARE DEVELOPMENT 

Healthcare providers consider digital capabilities as a path to improve care
delivery and better customer experience. However, the digital transformation
journey is long for health systems; hence, healthcare providers tend to create
frequent checkpoints to measure their digital initiatives and track ROI.  

This is where outsourcing the healthcare software development projects is the
best decision. Based on the calculated expected ROI for the healthcare software
project, its work starts as the yield is positive ROI. As the work is outsourced
to an experienced team, they are well aware of the issues and keep sorting them
as predicted. Also, custom healthcare software development can help in
reinventing the operations and establishing reliable software systems.  

As the consumer now expects healthcare services to be easily accessible,
convenient, and safe, this has encouraged enterprises and start-ups to pour
investment and accelerate healthcare software project development.

Accessible Healthcare Services

THE CHALLENGES

Some of the significant ROI challenges addressed through outsourcing healthcare
software development projects are: 

 * Integration with legacy systems: With the use of digital gadgets, consumers
   and patients share data with a healthcare provider and expect in turn, that
   the software system maintains the privacy and data interoperability with
   healthcare entities. Ready solutions find it difficult to integrate with
   traditional systems, leading to data loss and calls for an experienced team
   to migrate from one system to another. Custom software development helps
   better integration and migration by preventing delays and download time
   affecting the patient experience.   

 * Security: Health care devices or software must align with security
   regulations and customer expectations. Data security is one of the key areas
   which is a concern for any healthcare organization. With help of data
   encryption and securing the transfer of data within the system can help
   overcome this challenge. A healthcare software development company can very
   well undertake projects and create various checkpoints while creating
   database tables and placeholders for values entry. A password policy and MFA
   (Multi-Factor Authentication), cloud infrastructure security, audits, and
   monitoring are a few of the service points that can help determine the
   security of your healthcare solution.  

IN ADDITION TO THE ABOVE

 * Healthcare Compliance:  When it comes to safeguarding healthcare provider
   practice and patients, healthcare compliance is everything. If your practice
   does not adhere to industry norms and laws, you expose yourself to security
   concerns and revenue. As technology evolves and new solutions are offered
   like telehealth app development. The providers will only encounter new
   changes in healthcare compliance. To avoid compliance issues, it is much
   recommended for a healthcare organization to be partnering with a healthcare
   software development company providing HIPAA and GDPR-based healthcare
   software solutions. 

 * Economical & Efficient: The challenge to adopt a technology product for good
   ROI has always been a concern. As the cost of development, handling the team
   can in turn hamper the economic and efficiency of the healthcare services. 
   To overcome such challenges outsourcing healthcare software development can
   be a good option. Hiring an expert healthcare software development company
   saves the cost of recruiting professionals for different stages of
   development, such as UI designers, developers, and QA engineers. When you
   invest less in recruitment & infrastructure cost, your healthcare business
   enjoys a higher ROI.  


HOW TO IMPROVE HEALTHCARE SOFTWARE PROJECT ROI?

 * Define the target: Past pandemic has led to behavior change in healthcare
   through online and digitalized tools. As a matter of fact, every individual’s
   health journey is different and personal/private. Healthcare software
   projects must raise services into private/personal healthcare experience. The
   Healthcare software project application will modify the healthcare service
   and how it affects patient/customer engagement. 

 * Data process & Electronic medical record: Patients’ agreement to be treated,
   save time and enhances success rate. Data processed by software tools will
   help communicate doctors with the patient to let them know about future
   diagnoses and treatment plans. This helps reduce healthcare costs. AI with
   IoMT (Internet of Medical Things) and Electronic Medical Record (EMR) saves
   time collecting and analyzing data. Thus, healthcare providers can focus on
   scheduling patients and treatment. 

SOME MORE…

 * Design scalability: Healthcare software must resolve precisely problems for
   the specific user. The software application must be scalable, delivering
   value to the targeted audience. This may result in an increased audience and
   use case enhancing ROI. User experience is critical to increasing healthcare
   software ROI. 

 * Interoperability: Healthcare software development companies and project
   handlers must anticipate developing software applications that adhere ease of
   existing operations among healthcare organizations. The healthcare software
   solutions or healthcare applications must be open to integration with
   interoperability in project design. Moreover, fitness tools, wearables, and
   smartwatches must plan integration and interoperability. Data
   interoperability improves ROI dramatically. As it helps improve patient
   care.  

 * Outsourcing healthcare development project: Outsourcing brings in a plethora
   of technical /healthcare knowledge. As the project progresses, a healthcare
   software development company can bring in a skilled team by choosing skills
   as per the current pace/trend of the healthcare industry. The in-house IT
   team may not know trending healthcare system features, compliance structure
   to protect medical data, etc. The recruiting specialist may be an expensive
   proposition. Hiring on hourly pay is more flexible and cost-effective.
   In-house hiring means payment for permanence. 


CHOOSING HEALTHCARE SOFTWARE DEVELOPMENT COMPANY 

Outsourcing healthcare software development is a huge cost saver. An essential
point to choosing a healthcare software development partner is an understanding
of healthcare compliances, the development process, and experience. A
telemedicine app development solution, telehealth software solutions, and remote
patient monitoring software solutions are some of the trending healthcare
software solutions.

Following are some points which can help you outsource the development of your
healthcare software solutions.


HEALTHCARE COMPLIANCES

HIPAA may be misleading and difficult to comprehend. HIPAA and how it pertains
to healthcare software developers may be foreign to many. As a matter of fact,
this is where a healthcare organization needs to check with the healthcare
solution provider whether they understand and have experience in delivering
healthcare solutions with your local compliances.  


SIGN A NON-DISCLOSURE AGREEMENT

If your application or business concept has intellectual property value; you
must have the healthcare app development firm sign an NDA (Non-Disclosure
Agreement) before discussing project details. Also, it avoids unauthorized
access and protects sensitive corporate information. However, this is one of the
data security measures which helps you create a trust factor in discussing the
small details of a healthcare project. Though most healthcare software
development firms are willing to sign an NDA at the start of any project
conversation, this must be understood and signed prior to the project
negotiation.   


ITS SOFTWARE DEVELOPMENT PROCESS

A brief understanding of the software development process of a healthcare
software partner is necessary to attain the knowledge and skill of the company.
Scrum and agile development, for example, are far more reliable than traditional
methods. They are now used by software development organizations to increase
their efficiency and productivity. They also, understand that the market is
always changing. And that in order to keep up, they must be prepared to react
quickly.


DEVELOPER EXPERIENCE

Also, evaluate the developer experience of your medical software development
partner. They must be qualified to create medical solutions and see them through
to completion on schedule and within budget. Also, you must examine the entire
project’s approach, technique, and personnel. Such micro and macro analyses will
aid you in the long run when it comes to software upgrades. 

And above all one must choose the right healthcare application development
partner by observing the following criteria: 

 * The outsourcing company size must be more prominent. 
 * Must have skills and experience in healthcare software. 
 * Also, must have quality management and compliance certification. 


CONCLUSION  

ROI on healthcare software development project ratio varies from 7 to 10% with
an in-house IT team. With the advent of digital transformation, IoT and IoMT
need interoperability of healthcare software. Healthcare software development
projects like telemedicine app development can get-go based on ROI calculation,
i.e., expected ROI & actual ROI. However, cost effecting and improved ROI may
need huge investment. Outsourcing healthcare software development project is
cost-effective, brings in good ROI, and offers the flexibility of skill
selection.  


healthcare software development Healthcare Software Solutions ROI in Healthcare
telehealth app development telemedicine app development

WRITTEN BY EMORPHIS TECHNOLOGIES

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