5 Things to Know About the Healthcare Cloud Market

The clinical information systems market is the fastest growing segment within the North American healthcare cloud market, according to a Research and Markets report.

Here are five things to know about the North American healthcare cloud market, according to the report.

1. The North American healthcare cloud market is projected to be valued at $6.5 billion by 2018, growing at a compound annual growth rate of 29.8 percent. In 2013, the market was valued at $1.7 billion.

2. The market can be broken down into the clinical and non-clinical information systems. As mentioned above, the clinical information system segment is the largest market within the broader cloud market. The non-clinical information systems include revenue cycle management, automatic patient billing, payroll, claims management and cost accounting systems.

3. The increase in cloud computing adoption is partly spurred by a push to reduce costs, adoption of electronic medical records and a desire to share data quickly and securely.

4. The market includes three component categories: software, hardware and services. The software segment was the largest in the North American market.

5. The report names athenahealth, CareCloud Corp., Global Net Access Health, Hewlett-Packard, IBM Corp. and Microsoft among the key players in the North American Healthcare cloud computing market.

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