Dan Mannion, Vice President, Partners & Alliances, Armor
Gerry Miller, Founder & Chief Technology Officer, Cloudticity
In a span of 40 years (1970-2010), total health care spend ballooned from $75 billion to $2.6 trillion in the U.S. – with industry experts projecting it will nearly double to $4.8 trillion by 2021. To put this in perspective, if the amount the U.S. spends on healthcare was a country, it would be the world’s sixth largest economy. We spend more on healthcare than Japan, Germany, France, China, the U.K., Italy, Canada, Brazil, Spain and Australia…combined!
You’d think with all the money spent on healthcare, our system would at least be effective, right? Unfortunately, that’s not the case. In fact, we waste $1.2 trillion/year.
Thankfully, there is hope – 35% of wasted spend can be eliminated by better automation and technologies in the following areas: clinical waste, administrative systems, third-party providers, and fraud and abuse. By implementing big data analytics and usage of electronic medical records, we can comb massive amounts of healthcare data to find trends, inconsistencies and downfalls within the system.
For example, we can help eliminate clinical waste by empowering individuals to monitor their own health, such as with wearable activity monitors or the recently FDA-approved subdermal continuous glucose monitoring system, and better understand when and how best to conduct doctor visits when real issues arise. Personalized medicine is already leading-edge and only going to grow thanks to the accessibility, massive virtual storage and computing power available in the cloud.
However, if the cloud provides answers to many of our healthcare challenges, then why isn’t the industry adopting it more quickly? The dark side of all this electronic data storage is privacy and security – reading about yet another massive privacy breach seems to be almost a daily occurrence now.
And just like our own personal health, businesses all have a choice. We can pretend it doesn’t exist, we can go it alone and hope for the best, or we can partner with the best specialists to insure proper data security and compliance. Imagine a world where a hospital is intelligent AND safe thanks to the power of real-time IoT sensors, monitors, and knowledge.
That’s the future we see. Cloudticity brings automation and innovation to the healthcare market by enabling them to leverage the Amazon Web Services (AWS) platform while automatically staying HIPAA compliant. Armor has a nine-year history of securing PII data, patient record data, personal images, etc. for healthcare providers, healthcare insurers, biotechs, big pharma, and all the healthcare technology companies that serve them. By bringing together the automation and compliance controls in the Cloudticity Oxygen platform with the real-time 24/7 protection, detection and managed security service from Armor, we’ve started the evolution, no, the REVOLUTION that will enable all of us to improve the healthcare outcomes for everyone.
That’s why we’re so excited by the partnership between Cloudticity and Armor. Two organizations that are passionate about being the best at what they do and coming together to bring a unique and powerful value proposition to healthcare customers on AWS. And that means better healthcare outcomes for all of us.
To learn more about our partnerships, visit: Armor Guardian Partner Program.