We’ve seen the same trend happen across many industries, from transportation to software and entertainment. People and companies are used to buying and owning products. Now, they can access the latest offerings through flexible, subscription-based consumption models, which often come with full service packages and regular updates that provide additional value over time. [1]. This trend shows no sign of slowing down. As digital transformation across industries continues to accelerate, we are rapidly moving into a world where everything as a service (XaaS) will be the new norm. [2].
In healthcare, too, providers are shifting away from separately purchasing medical equipment, software, and infrastructure. Instead, they are increasingly looking for integrated solutions that meet their needs at a departmental or enterprise level. What’s more, they want to offer these solutions as a service, giving them updated capabilities that work seamlessly together to support their clinical, operational and financial goals – without the traditional burden of managing equipment.
Nowhere is this need more evident than in patient observation. As the second most impactful information technology investment in the delivery of care (after electronic medical records, or electronic medical records), patient monitoring systems have always been a priority for health care leaders. However, the COVID-19 pandemic has emphasized the need for increased flexibility and scalability to meet dynamic shifts in patient demand. It also highlighted the many disconnects – between data, systems and workflows – that can get in the way of providing optimal patient care. In the past few years, patient monitoring has evolved from simply focusing on “equipment management” to a broader “system optimization” which supports the standardization and integration of workflows across departments and facilities. [3].
Monitoring as a Service has proven to be a powerful enabler of this transformation. Here are five reasons why a growing number of healthcare leaders are considering it as a new partnership model:
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