Impact of Covid-19 Pandemic on the Healthcare IT Industry

Adoption of data science and analytic techniques are key factors aiding healthcare providers in the early detection and treatment of healthcare conditions to safely deliver quality and lower-cost care. Considering the implication of social distancing measure, the footfall in clinics and health institutions has fallen by more than 70% in this pandemic. Owing to this, the adoption of digital health services has increased by three-fold. Healthcare IT Industry has witnessed paradigm shift in the adoption of healthcare IT solutions across the ecosystem including drug discovery, drug development, diagnostics, data management, marketing, and patient engagement. Artificial intelligence, electronic health record (EHR), revenue cycle management, reimbursement data management, and clinical data management solutions are being rapidly adopted by companies, including CROs, insurers, diagnostics, and research institutes for remote data monitoring. Coherent Market Insights anticipates favourable regulatory environment for digital health services post lockdown. Also, incentives and aggressive pricing structure from the healthcare IT solutions providers will further fuel the demand for these tech solutions across the value chain. The reports from Coherent Market Insights considers and evaluates the impact of the COVID-19, and anticipated change on the future outlook of this industry, by taking into the account the political, economic, social, and technological parameters.