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CREATING A NEW NORMAL

The COVID-19 pandemic has put healthcare and life sciences in the spotlight. The industry had to completely transform almost instantly, shifting patient care and business to online platforms.

The importance of building a strong healthcare infrastructure and investing in life sciences for public health was brought home to countries around the world. Today, the industry is using lessons learned from the pandemic to create a new normal that is more innovative, competitive, and resilient. At the same time, healthcare and life sciences companies face market pressures of increasing costs and lower returns. In 2020, US healthcare spending reached US $ 4.1 trillion, and the prices for medical goods and services are projected to grow by an average of 2.4 % annually by 2028.

While nobody can predict the future of healthcare and life sciences, what’ s certain is that healthcare providers, healthcare payers, and life sciences organisations have a unique opportunity to meet current challenges and future-proof their business. Data is a crucial tool in forging ahead. Data can help organisations unlock insights that will help with every aspect of the industry, from making better clinical decisions to developing better treatments for patients. But to do so, organisations must be able to collect, analyse, and collaborate on data effectively and efficiently.

Healthcare and life sciences leaders are adopting the cloud to gain modern data capabilities. In doing so, they are easing barriers to collaboration, speeding innovation, and making smarter, data- driven healthcare decisions. �

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